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REGISTERED NUMBER: 00162896 (England and Wales)



















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

E.W KING & CO. LIMITED

E.W KING & CO. LIMITED (REGISTERED NUMBER: 00162896)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


E.W KING & CO. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







Directors: Mrs T Palmer
A Tokely


Registered office: Monks Farm
Pantlings Lane
Coggeshall Road
Kelvedon
Essex
CO5 9PG


Registered number: 00162896 (England and Wales)


Senior statutory auditor: Steven Collins


Auditors: Baverstocks Limited
Statutory Auditor
Chartered Certified Accountants
Dickens House
Guithavon Street
Witham
Essex
CM8 1BJ


Bankers: National Westminster Bank Plc
47 High Street
Braintree
Essex
CM7 1JT

E.W KING & CO. LIMITED (REGISTERED NUMBER: 00162896)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 193,718 225,468
Tangible assets 5 1,226,523 1,313,373
Investments 6 1,183,268 1,235,510
2,603,509 2,774,351

Current assets
Stocks 1,649,856 1,486,330
Debtors 7 307,981 216,992
Cash at bank and in hand 3,093,055 2,668,231
5,050,892 4,371,553
Creditors
Amounts falling due within one year 8 792,097 485,342
Net current assets 4,258,795 3,886,211
Total assets less current liabilities 6,862,304 6,660,562

Provisions for liabilities 273,513 302,962
Net assets 6,588,791 6,357,600

Capital and reserves
Called up share capital 27,502 27,502
Share premium 1,125 1,125
Revaluation reserve 9 199,237 184,474
Retained earnings 6,360,927 6,144,499
Shareholders' funds 6,588,791 6,357,600

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2025 and were signed on its behalf by:




Mrs T Palmer - Director



A Tokely - Director


E.W KING & CO. LIMITED (REGISTERED NUMBER: 00162896)

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

1. Statutory information

E.W King & Co. 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.

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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about E.W King & Co. Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Mailing lists
Mailing lists are written off to the profit and loss account evenly over three years, starting in the first year of use.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Freehold Land- 0% on Cost
Freehold Buildings- 2% on Cost
Improvements to Property- 2% on Cost
Motor Vehicles- 25% on Cost
Plant and Machinery - Commercial Vehicles- 15% on Cost
- Tractors and Accessories- 20% on Cost
- Machinery- 15% and 5% on Cost
- Sundry Plant and Equipment- 15% on Cost
- Combine Harvesters- 15% on Cost
Fixtures and Fittings- 5% on Cost
Office Equipment- General Office Equipment- 15% on Cost
- Website- 20% on Cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are stated at the lower of cost and net realisable value. Cost is determined on a first in, first out basis on the costs incurred in bringing each item to its present location and condition.

Net realisible value is based upon the estimated selling price after due allowance for all future costs expected to be incurred to completion and sale.



E.W KING & CO. LIMITED (REGISTERED NUMBER: 00162896)

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

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

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
Rentals paid under operating leases are charged to profit or loss 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.

Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

3. Employees and directors

The average number of employees during the year was 46 (2023 - 48 ) .

E.W KING & CO. LIMITED (REGISTERED NUMBER: 00162896)

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

4. Intangible fixed assets
Patents
and
Goodwill Licences Totals
£    £    £   
Cost
At 1 July 2023
and 30 June 2024 368,000 26,981 394,981
Amortisation
At 1 July 2023 142,532 26,981 169,513
Amortisation for year 31,750 - 31,750
At 30 June 2024 174,282 26,981 201,263
Net book value
At 30 June 2024 193,718 - 193,718
At 30 June 2023 225,468 - 225,468

5. Tangible fixed assets
Improvements
Freehold to Plant and
Property Property Machinery
£    £    £   
Cost
At 1 July 2023 766,380 6,527 1,875,067
Additions - - 27,378
At 30 June 2024 766,380 6,527 1,902,445
Depreciation
At 1 July 2023 397,504 1,620 1,012,947
Charge for year 15,505 131 107,157
At 30 June 2024 413,009 1,751 1,120,104
Net book value
At 30 June 2024 353,371 4,776 782,341
At 30 June 2023 368,876 4,907 862,120

E.W KING & CO. LIMITED (REGISTERED NUMBER: 00162896)

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

5. Tangible fixed assets - continued

Fixtures
and Motor Office
Fittings Vehicles Equipment Totals
£    £    £    £   
Cost
At 1 July 2023 84,476 9,495 161,174 2,903,119
Additions 17,622 - 15,261 60,261
At 30 June 2024 102,098 9,495 176,435 2,963,380
Depreciation
At 1 July 2023 50,464 9,495 117,716 1,589,746
Charge for year 9,645 - 14,673 147,111
At 30 June 2024 60,109 9,495 132,389 1,736,857
Net book value
At 30 June 2024 41,989 - 44,046 1,226,523
At 30 June 2023 34,012 - 43,458 1,313,373

Included in land and buildings is freehold land with a cost value of £2,731 (2022: £2,731) which is not depreciated.

6. Fixed asset investments
Shares in
Group Other
Undertakings investments Totals
£    £    £   
Cost or valuation
At 1 July 2023 100 1,235,410 1,235,510
Additions - 24,907 24,907
Disposals - (96,833 ) (96,833 )
Revaluations - 19,684 19,684
At 30 June 2024 100 1,183,168 1,183,268
Net book value
At 30 June 2024 100 1,183,168 1,183,268
At 30 June 2023 100 1,235,410 1,235,510

E.W KING & CO. LIMITED (REGISTERED NUMBER: 00162896)

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

6. Fixed asset investments - continued

Cost or valuation at 30 June 2024 is represented by:

Shares in
Group Other
Undertakings investments Totals
£    £    £   
Valuation in 2018 - 44,527 44,527
Valuation in 2019 - 26,587 26,587
Valuation in 2020 - (52,656 ) (52,656 )
Valuation in 2021 - 428,485 428,485
Valuation in 2022 - (195,465 ) (195,465 )
Valuation in 2023 - (4,119 ) (4,119 )
Valuation in 2024 - 44,898 44,898
Cost 100 890,911 891,011
100 1,183,168 1,183,268

7. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade Debtors 11,094 31,324
Amounts owed by group undertakings 78,692 81,630
Other Debtors 1,618 2,700
VAT 34,217 8,008
Prepayments and Accrued Income 182,360 93,330
307,981 216,992

8. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade Creditors 473,387 257,066
Corporation Tax 129,866 39,633
Social Security and Other
Taxes 34,737 33,828
Other Creditors 83,063 86,006
Accruals and Deferred Income 71,044 68,809
792,097 485,342

9. Reserves
Revaluation
reserve
£   
At 1 July 2023 184,474
Transfer of revaluation 14,763

At 30 June 2024 199,237

E.W KING & CO. LIMITED (REGISTERED NUMBER: 00162896)

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

10. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Steven Collins (Senior Statutory Auditor)
for and on behalf of Baverstocks Limited

11. Other financial commitments

The company has financial commitments of £124,131 in relation to non cancellable lease agreements.

12. Related party disclosures

During the year, the company has recharged wages of £3,705 to a related party.

During the year, the company has made sales of £4,333 and provided discounts of £30,000 to a related company.

At the balance sheet date an amount of £67,412 was due from a related party.

13. FRC Ethical Standard - provisions available for small entities

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.