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REGISTERED NUMBER: 01015752 (England and Wales)















G. A. JENKINSON & SONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






G. A. JENKINSON & SONS LIMITED (REGISTERED NUMBER: 01015752)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 6


G. A. JENKINSON & SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: C V R Skelton
Mrs S M Skelton



REGISTERED OFFICE: White House Farm
The Pastures
Old Somerby
Grantham
Lincolnshire
NG33 4AD



REGISTERED NUMBER: 01015752 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF



BANKERS: Lloyds Bank plc
42 St Peters Hill
Grantham
Lincolnshire
NG31 6QJ

G. A. JENKINSON & SONS LIMITED (REGISTERED NUMBER: 01015752)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 974,294 915,862

CURRENT ASSETS
Valuation 323,047 369,795
Debtors 5 142,038 98,309
Investments 6 42 42
465,127 468,146
CREDITORS
Amounts falling due within one year 7 407,113 305,612
NET CURRENT ASSETS 58,014 162,534
TOTAL ASSETS LESS CURRENT LIABILITIES 1,032,308 1,078,396

CREDITORS
Amounts falling due after more than one year 8 510,587 460,183
NET ASSETS 521,721 618,213

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 521,621 618,113
SHAREHOLDERS' FUNDS 521,721 618,213

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 March 2025 and were signed on its behalf by:




C V R Skelton - Director


G. A. JENKINSON & SONS LIMITED (REGISTERED NUMBER: 01015752)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

G. A. Jenkinson & Sons Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover comprises the fair value of net invoiced sales of produce and contracting services, excluding value added tax. Sales of produce are recognised on despatch and contract work is recognised when services are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 6.66% on cost
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance and 10% on reducing balance

Property, plant and equipment assets are held at cost less accumulated depreciation. No depreciation has been provided for freehold land and buildings. It is the company's policy to maintain its properties in a continual state of sound repair. In the case of freehold buildings, the directors consider that the lives of these buildings and their residual value's are such that their depreciation is not significant.

Valuation
As in previous years the arable valuation has been professionally valued by Messrs Escritt, Barrell and Golding, Chartered Surveyors. Stock is valued at the lower of cost and fair value less cost to sell.

Closing stock also includes work in progress in respect of land development costs, which is valued at the lower of cost and fair value less cost to sell.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

G. A. JENKINSON & SONS LIMITED (REGISTERED NUMBER: 01015752)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Basic payment
The Basic Payment is recognised in the financial statements in accordance with H M Revenue & Customs guidance.

Investments
Current asset investments are recognised at the lower of cost and fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Freehold Leasehold Plant and Motor
property improvements machinery vehicles Totals
£    £    £    £    £   
COST
At 1 July 2023 354,860 266,373 1,123,400 26,354 1,770,987
Additions - 49,540 39,455 29,995 118,990
Disposals - - (9,750 ) (23,053 ) (32,803 )
At 30 June 2024 354,860 315,913 1,153,105 33,296 1,857,174
DEPRECIATION
At 1 July 2023 - 7,834 829,320 17,971 855,125
Charge for year - 4,607 45,984 2,937 53,528
Eliminated on disposal - - (9,305 ) (16,468 ) (25,773 )
At 30 June 2024 - 12,441 865,999 4,440 882,880
NET BOOK VALUE
At 30 June 2024 354,860 303,472 287,106 28,856 974,294
At 30 June 2023 354,860 258,539 294,080 8,383 915,862

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 19,102 8,416
F Jenkinson 1997 Discretionary Settlement loan 41,712 36,935
Other debtors 11,796 8,275
Prepayments and accrued income 69,428 44,683
142,038 98,309

6. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Unlisted investments 42 42

G. A. JENKINSON & SONS LIMITED (REGISTERED NUMBER: 01015752)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Loans and overdraft 240,247 166,405
Hire purchase contracts 10,539 13,179
Trade creditors 92,193 43,260
Tax 32,609 34,711
Social security and other taxes 3,277 2,316
Directors' current accounts 5,131 24,261
Accruals and deferred income 23,117 21,480
407,113 305,612

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
AMC loan 343,186 355,933
Other loans 50,340 64,230
Pension scheme loan 38,400 -
Bounce back loan 30,000 35,000
Oxbury variable credit 9,961 -
Hire purchase contracts 38,700 5,020
510,587 460,183

9. SECURED DEBTS

The following debts are secured within creditors:

2024 2023
£ £

Bank overdrafts 100,602 88,560
Hire purchase contracts 49,239 18,199
Bank loan 343,186 355,933
Drill finance 64,229 -
Pension scheme loan 48,000 -
Oxbury variable credit 12,451 -
617,707 462,692

The bank overdraft, bank loan, pension scheme loan and the Oxbury credit are secured by a charge over agricultural land owned by the company. Hire purchase contracts and the drill finance are secured on the asset to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 "A" Ordinary £1 10 10
90 "B" Ordinary non-voting £1 90 90
100 100

G. A. JENKINSON & SONS LIMITED (REGISTERED NUMBER: 01015752)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

11. OTHER FINANCIAL COMMITMENTS

At the year end the company had commitments due as follows:
20242023
££
Within one year 36,77229,907

36,77229,907