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REGISTERED NUMBER: 04420870 (England and Wales)


















DAVID EVANS AGRICULTURAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






DAVID EVANS AGRICULTURAL LIMITED (REGISTERED NUMBER: 04420870)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DAVID EVANS AGRICULTURAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: D T Evans
T Evans





SECRETARY: D T Evans





REGISTERED OFFICE: Old Middle Hill
Waterston
Llancarfan
Barry
Vale of Glamorgan
CF62 3AD





REGISTERED NUMBER: 04420870 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

DAVID EVANS AGRICULTURAL LIMITED (REGISTERED NUMBER: 04420870)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,146,257 1,266,344
1,146,257 1,266,344

CURRENT ASSETS
Stocks 4,725,426 5,653,159
Debtors 6 1,601,333 2,092,488
Cash at bank and in hand 6,177 3,247
6,332,936 7,748,894
CREDITORS
Amounts falling due within one year 7 (5,628,673 ) (6,298,250 )
NET CURRENT ASSETS 704,263 1,450,644
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,850,520

2,716,988

CREDITORS
Amounts falling due after more than one
year

8

(179,537

)

(274,133

)

PROVISIONS FOR LIABILITIES - (47,498 )
NET ASSETS 1,670,983 2,395,357

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 1,670,981 2,395,355
SHAREHOLDERS' FUNDS 1,670,983 2,395,357

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

DAVID EVANS AGRICULTURAL LIMITED (REGISTERED NUMBER: 04420870)

BALANCE SHEET - continued
31 MARCH 2024


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 Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





D T Evans - Director


DAVID EVANS AGRICULTURAL LIMITED (REGISTERED NUMBER: 04420870)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

David Evans Agricultural 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 company's functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

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

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.

There have been no material departures from Financial Reporting Standard 102 1A.

Turnover
Turnover represents amounts billed and billable in respect of the sale and repair of agricultural machinery during the year, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Based on the performance of the company since acquisition, the director considers that the useful economic life of goodwill is still valid.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 property - 5% on cost
Long leasehold - 5% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Office equipment - 25% on cost

Fixed assets are initially recorded at cost which includes any costs directly attributable to making the asset operate as intended.

Stocks
Stock has been valued at the lower of cost and estimated selling price less costs to sell.

Current tax
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date.


DAVID EVANS AGRICULTURAL LIMITED (REGISTERED NUMBER: 04420870)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

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.

Financial instruments
Basic financial instruments are recognised at amortised cost.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 120,000
AMORTISATION
At 1 April 2023
and 31 March 2024 120,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

DAVID EVANS AGRICULTURAL LIMITED (REGISTERED NUMBER: 04420870)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Land and Long Plant and
property leasehold machinery
£    £    £   
COST
At 1 April 2023 783,901 288,042 292,581
Additions 11,665 - 2,975
Disposals - - (2,900 )
At 31 March 2024 795,566 288,042 292,656
DEPRECIATION
At 1 April 2023 97,256 36,443 259,946
Charge for year 11,796 14,402 10,159
Eliminated on disposal - - (628 )
At 31 March 2024 109,052 50,845 269,477
NET BOOK VALUE
At 31 March 2024 686,514 237,197 23,179
At 31 March 2023 686,645 251,599 32,635

Fixtures
and Motor Office
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 72,016 436,599 62,158 1,935,297
Additions 5,314 30,996 3,309 54,259
Disposals - (131,347 ) - (134,247 )
At 31 March 2024 77,330 336,248 65,467 1,855,309
DEPRECIATION
At 1 April 2023 52,922 178,043 44,292 668,902
Charge for year 1,884 59,069 4,664 101,974
Eliminated on disposal - (61,196 ) - (61,824 )
At 31 March 2024 54,806 175,916 48,956 709,052
NET BOOK VALUE
At 31 March 2024 22,524 160,332 16,511 1,146,257
At 31 March 2023 19,094 258,556 17,866 1,266,395

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 403,026 1,037,356
Other debtors 313,317 245,842
Amount owed by related party 302,138 243,018
Director's current account 390,917 420,393
VAT - 52,837
Deferred tax asset 3,960 -
Prepayments and accrued income 187,975 93,042
1,601,333 2,092,488

DAVID EVANS AGRICULTURAL LIMITED (REGISTERED NUMBER: 04420870)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 514,465 368,349
Hire purchase contracts 20,167 34,422
Trade creditors 780,881 690,234
Corporation tax 7,132 116,498
Social security and other taxes 8,958 17,828
VAT 96,553 -
Other creditors 144,361 104,302
Stocking loan 4,035,275 4,942,417
Accruals and deferred income 20,881 24,200
5,628,673 6,298,250

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 80,503 79,671
Bank loans - 2-5 years 7,834 88,337
Hire purchase contracts 65,694 89,982
Accruals and deferred income 25,506 16,143
179,537 274,133

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 85,861 124,404
Stocking loans 4,035,275 4,942,417
4,121,136 5,066,821

The hire purchase liability is secured over the associated fixed asset. Stocking loans are secured on the associated stock.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
D T Evans
Balance outstanding at start of year 420,393 221,115
Amounts advanced 239,894 406,942
Amounts repaid (269,370 ) (207,664 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 390,917 420,393

DAVID EVANS AGRICULTURAL LIMITED (REGISTERED NUMBER: 04420870)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

The loan has no fixed repayment terms. Interest has been charged on the loan at a commercial rate.