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REGISTERED NUMBER: 12695429 (England and Wales)












J T Agricultural Services Ltd

Unaudited Financial Statements

for the Year Ended 30 June 2024






J T Agricultural Services Ltd (Registered number: 12695429)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


J T Agricultural Services Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTOR: Mr J C E Taylor





REGISTERED OFFICE: 69 High Street
Bideford
Devon
EX39 2AT





REGISTERED NUMBER: 12695429 (England and Wales)





ACCOUNTANTS: R T Marke & Co Ltd
Chartered Accountants
69 High Street
Bideford
Devon
EX39 2AT

J T Agricultural Services Ltd (Registered number: 12695429)

Abridged Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 22,765 27,133
Herd 6 35,129 30,390
57,894 57,523

CURRENT ASSETS
Stocks 59,050 38,990
Debtors 2,480 2,835
61,530 41,825
CREDITORS
Amounts falling due within one year 120,095 100,518
NET CURRENT LIABILITIES (58,565 ) (58,693 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(671

)

(1,170

)

PROVISIONS FOR LIABILITIES 297 202
NET LIABILITIES (968 ) (1,372 )

CAPITAL AND RESERVES
Called up share capital 8 250 250
Retained earnings (1,218 ) (1,622 )
SHAREHOLDERS' FUNDS (968 ) (1,372 )

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 director acknowledges his 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.

J T Agricultural Services Ltd (Registered number: 12695429)

Abridged Balance Sheet - continued
30 June 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 director and authorised for issue on 28 March 2025 and were signed by:





Mr J C E Taylor - Director


J T Agricultural Services Ltd (Registered number: 12695429)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

J T Agricultural Services Ltd 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. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% straight line
Motor vehicles - 20% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Grants
Grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful life of the assets to which they relate.

Grants in respect of revenue items are credited to the profit and loss account when they are receivable.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Where animals have been home-reared and not purchased and actual cost cannot be identified, deemed cost has been used in accordance with HMRC guidance.

Financial instruments
Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.


J T Agricultural Services Ltd (Registered number: 12695429)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


3. ACCOUNTING POLICIES - continued
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 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.

Going concern
The company has retained losses of £1,218 (2023 - £1,622). It also has net current liabilities of £58,565 (2023 - £58,693) and net liabilities of £968 (2023 - £1,372).

The company is reliant on the continuing financial support of its creditors and while there are no reasons to doubt that this support will continue, inherently there can be no certainty in relation to these matters. On this basis, and having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from an inability to meet obligations as they fall due.

Biological assets
Biological assets are measured at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is recognised so as to write off the cost of assets over productive useful life to cull value on a year by year basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

J T Agricultural Services Ltd (Registered number: 12695429)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023 51,139
Additions 7,322
At 30 June 2024 58,461
DEPRECIATION
At 1 July 2023 24,006
Charge for year 11,690
At 30 June 2024 35,696
NET BOOK VALUE
At 30 June 2024 22,765
At 30 June 2023 27,133

6. HERD
Herd
£   
COST
At 1 July 2023 34,998
Additions 13,063
Disposals (3,304 )
At 30 June 2024 44,757
DEPRECIATION
At 1 July 2023 4,608
Charge for year 5,622
Eliminated on disposal (602 )
At 30 June 2024 9,628
NET BOOK VALUE
At 30 June 2024 35,129
At 30 June 2023 30,390

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 4,410

J T Agricultural Services Ltd (Registered number: 12695429)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 A £1 100 100
150 B £1 150 150
250 250