Paul Ducksbury Limited 01895746 false 2023-07-01 2024-03-31 2024-03-31 The principal activity of the company is that of agricultural contracting and farming Digita Accounts Production Advanced 6.30.9574.0 true 01895746 2023-07-01 2024-03-31 01895746 2024-03-31 01895746 bus:OrdinaryShareClass1 2024-03-31 01895746 bus:OrdinaryShareClass2 2024-03-31 01895746 core:RetainedEarningsAccumulatedLosses 2024-03-31 01895746 core:ShareCapital 2024-03-31 01895746 core:CurrentFinancialInstruments 2024-03-31 01895746 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 01895746 core:Non-currentFinancialInstruments 2024-03-31 01895746 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 01895746 core:FurnitureFittings 2024-03-31 01895746 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 01895746 core:MotorVehicles 2024-03-31 01895746 core:PlantMachinery 2024-03-31 01895746 bus:SmallEntities 2023-07-01 2024-03-31 01895746 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-03-31 01895746 bus:FilletedAccounts 2023-07-01 2024-03-31 01895746 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-03-31 01895746 bus:RegisteredOffice 2023-07-01 2024-03-31 01895746 bus:Director1 2023-07-01 2024-03-31 01895746 bus:OrdinaryShareClass1 2023-07-01 2024-03-31 01895746 bus:OrdinaryShareClass2 2023-07-01 2024-03-31 01895746 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-03-31 01895746 core:Buildings 2023-07-01 2024-03-31 01895746 core:FurnitureFittings 2023-07-01 2024-03-31 01895746 core:Land 2023-07-01 2024-03-31 01895746 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-01 2024-03-31 01895746 core:MotorVehicles 2023-07-01 2024-03-31 01895746 core:PlantMachinery 2023-07-01 2024-03-31 01895746 1 2023-07-01 2024-03-31 01895746 countries:England 2023-07-01 2024-03-31 01895746 2023-06-30 01895746 core:FurnitureFittings 2023-06-30 01895746 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 01895746 core:MotorVehicles 2023-06-30 01895746 core:PlantMachinery 2023-06-30 01895746 2022-07-01 2023-06-30 01895746 2023-06-30 01895746 bus:OrdinaryShareClass1 2023-06-30 01895746 bus:OrdinaryShareClass2 2023-06-30 01895746 core:RetainedEarningsAccumulatedLosses 2023-06-30 01895746 core:ShareCapital 2023-06-30 01895746 core:CurrentFinancialInstruments 2023-06-30 01895746 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 01895746 core:Non-currentFinancialInstruments 2023-06-30 01895746 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 01895746 core:FurnitureFittings 2023-06-30 01895746 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 01895746 core:MotorVehicles 2023-06-30 01895746 core:PlantMachinery 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01895746

Paul Ducksbury Limited

Unaudited Filleted Financial Statements

for the Period from 1 July 2023 to 31 March 2024

 

Paul Ducksbury Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Paul Ducksbury Limited

(Registration number: 01895746)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

882,477

1,016,037

Current assets

 

Stocks

5

84,902

173,855

Debtors

6

129,342

191,552

Cash at bank and in hand

 

10,723

-

 

224,967

365,407

Creditors: Amounts falling due within one year

7

(359,175)

(494,333)

Net current liabilities

 

(134,208)

(128,926)

Total assets less current liabilities

 

748,269

887,111

Creditors: Amounts falling due after more than one year

7

(19,321)

(26,735)

Provisions for liabilities

(158,272)

(190,596)

Net assets

 

570,676

669,780

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

570,576

669,680

Shareholders' funds

 

570,676

669,780

For the financial period ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 March 2025 and signed on its behalf by:
 

.........................................
P M Ducksbury
Director

 

Paul Ducksbury Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 March 2024

1

General information

The Company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Field Farm
Askham
Newark
Nottinghamshire
NG22 0RT

These financial statements were authorised for issue by the Board on 10 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements have been presented in pound sterling and are rounded to the nearest pound.

Disclosure of long or short period

The company shortened its year end for strategic reasons and so the results are not entirely comparable.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

Paul Ducksbury Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 March 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, less any estimate residual value and other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land

Nil

Freehold buildings

4% per annum on cost

Plant and machinery

0% to 20% reducing balance basis

Fixtures and fittings

15% to 25% reducing balance basis

Motor vehicles

25% reducing balance basis

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

The pension costs charged in the financial statements represent the contributions payable by the company during the year to the directors' personal schemes and the company contributes into a group personal pension scheme as part of its compliance with auto enrolment responsibilities.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the period, was 6 (2023 - 6).

 

Paul Ducksbury Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 March 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

313,125

11,880

1,377,329

56,030

1,758,364

Additions

12,637

-

11,200

-

23,837

Disposals

(11,728)

-

(116,850)

-

(128,578)

At 31 March 2024

314,034

11,880

1,271,679

56,030

1,653,623

Depreciation

At 1 July 2023

65,683

9,726

634,717

32,201

742,327

Charge for the period

4,975

372

78,766

5,280

89,393

Eliminated on disposal

-

-

(60,574)

-

(60,574)

At 31 March 2024

70,658

10,098

652,909

37,481

771,146

Carrying amount

At 31 March 2024

243,376

1,782

618,770

18,549

882,477

At 30 June 2023

247,442

2,154

742,612

23,829

1,016,037

Included within the net book value of land and buildings above is £243,376 (2023 - £247,442) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

84,902

173,855

6

Debtors

Current

2024
£

2023
£

Trade debtors

48,119

183,618

Prepayments

73,282

6,657

Other debtors

7,941

1,277

 

129,342

191,552

 

Paul Ducksbury Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

9,748

132,891

Trade creditors

 

117,255

177,695

Taxation and social security

 

2,386

9,278

Accruals and deferred income

 

25,203

16,667

Other creditors

 

204,583

157,802

 

359,175

494,333

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £nil (2023 - £123,193).

 

Paul Ducksbury Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 March 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

19,321

26,735

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

90

90

90

90

Ordinary A shares of £1 each

10

10

10

10

100

100

100

100

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

19,321

26,735

Current loans and borrowings

2024
£

2023
£

Bank borrowings

9,748

9,698

Bank overdrafts

-

123,193

9,748

132,891

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £1,650 (2023 - £16,500).