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REGISTERED NUMBER: 00632148 (England and Wales)















DAVISON & CO. (BARFORD) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






DAVISON & CO. (BARFORD) LIMITED (REGISTERED NUMBER: 00632148)






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




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 9


DAVISON & CO. (BARFORD) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: E F Davison
G M Davison
C J Davison
E J Davison
A E Davison





SECRETARY: G M Davison





REGISTERED OFFICE: Green End Farm
108 Green End Road
Great Barford
Bedfordshire
MK44 3HD





REGISTERED NUMBER: 00632148 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 All Saints Street
Stamford
Lincolnshire
PE9 2PA

DAVISON & CO. (BARFORD) LIMITED (REGISTERED NUMBER: 00632148)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 169 337
Property, plant and equipment 5 20,914,974 21,136,785
Investments 6 38,632 38,632
Investment property 7 2,997,423 2,922,696
23,951,198 24,098,450

CURRENT ASSETS
Inventories 2,587,908 2,945,060
Debtors 8 1,151,469 1,136,906
Cash at bank and in hand 1,875,867 1,533,780
5,615,244 5,615,746
CREDITORS
Amounts falling due within one year 9 3,357,981 1,572,376
NET CURRENT ASSETS 2,257,263 4,043,370
TOTAL ASSETS LESS CURRENT LIABILITIES 26,208,461 28,141,820

CREDITORS
Amounts falling due after more than one year 10 (866,502 ) (3,223,629 )

PROVISIONS FOR LIABILITIES (1,791,943 ) (2,069,710 )
NET ASSETS 23,550,016 22,848,481

CAPITAL AND RESERVES
Called up share capital 12 1,763,000 1,913,000
Revaluation reserve 1,329,801 1,329,801
Other reserve 597,854 549,172
Retained earnings 19,859,361 19,056,508
SHAREHOLDERS' FUNDS 23,550,016 22,848,481

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.

DAVISON & CO. (BARFORD) LIMITED (REGISTERED NUMBER: 00632148)

STATEMENT OF FINANCIAL POSITION - 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.

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

The financial statements were approved the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:





G M Davison - Director


DAVISON & CO. (BARFORD) LIMITED (REGISTERED NUMBER: 00632148)

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

1. STATUTORY INFORMATION

Davison & Co. (Barford) 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 as modified by the revaluation of certain assets.

Revenue
Revenue represents amounts charged to customers for produce and services provided during the year, excluding value added tax and trade discounts, and single farm payment.

Produce sales are recognised on despatch or collection if the goods. Contracting income is recognised in the period in which the work was undertaken.

Rental income is recognised in the period to which it relates.

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.

Reservoir licences are being amortised evenly over their estimated useful life of twenty years.

Basic payment entitlement is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is calculated to write down the cost of all tangible fixed assets other than freehold land and excluding investment properties, by equal annual instalments or by the reducing balance method over their expected useful lives. The rates/periods generally applicable are:

Freehold property improvementsNil & 5-10 years straight line
Plant and equipment12.5-30% reducing balance

Investments in associates
Investments in subsidiary and associated undertakings are recognised at cost less impairment.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Inventories
Inventories are valued at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items.

DAVISON & CO. (BARFORD) LIMITED (REGISTERED NUMBER: 00632148)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

Foreign currencies
Transactions in foreign currencies are translated at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities in foreign currencies are translated at the rates of exchange ruling at the balance sheet date. The financial statements of the foreign divisions are translated at the rate of exchange ruling at the balance sheet date. The differences arising from the retranslation of the opening net investment in divisions are taken directly to reserves. Where exchange differences result from the translation of foreign currency borrowings raised to acquire foreign assets (including equity investments) they are taken to reserves and offset against the differences arising from the translation of those assets. All other exchange differences are dealt with through the profit and loss account.

Pension costs and other post-retirement benefits
Defined Contribution Scheme

The pension costs charged against profits represent the amount of the contributions payable to the scheme in respect of the accounting period.

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

DAVISON & CO. (BARFORD) LIMITED (REGISTERED NUMBER: 00632148)

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

2. ACCOUNTING POLICIES - continued

Grants
Government grants in respect of capital expenditure are credited to a deferred income account and are released to the profit and loss account over the expected useful lives of the relevant assets.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 26 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023
and 30 June 2024 124,745
AMORTISATION
At 1 July 2023 124,408
Charge for year 168
At 30 June 2024 124,576
NET BOOK VALUE
At 30 June 2024 169
At 30 June 2023 337

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 18,005,823 9,898,440 27,904,263
Additions 32,976 904,460 937,436
Disposals (17,065 ) (910,435 ) (927,500 )
Exchange differences 50,686 30,946 81,632
At 30 June 2024 18,072,420 9,923,411 27,995,831
DEPRECIATION
At 1 July 2023 1,305,401 5,462,077 6,767,478
Charge for year 84,274 946,503 1,030,777
Eliminated on disposal - (736,548 ) (736,548 )
Exchange differences 688 18,462 19,150
At 30 June 2024 1,390,363 5,690,494 7,080,857
NET BOOK VALUE
At 30 June 2024 16,682,057 4,232,917 20,914,974
At 30 June 2023 16,700,422 4,436,363 21,136,785

DAVISON & CO. (BARFORD) LIMITED (REGISTERED NUMBER: 00632148)

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

6. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 July 2023
and 30 June 2024 40,382
PROVISIONS
At 1 July 2023
and 30 June 2024 1,750
NET BOOK VALUE
At 30 June 2024 38,632
At 30 June 2023 38,632

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 2,922,696
Additions 74,727
At 30 June 2024 2,997,423
NET BOOK VALUE
At 30 June 2024 2,997,423
At 30 June 2023 2,922,696

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2024 2,997,423

The investment property was valued by the directors on 30 June 2024 having considered the recent sale values of similar properties in the local area.

8. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 374,196 454,073
Other debtors 65,605 31,149
Directors' loan accounts - 116,836
Corporation tax - 74,502
Prepayments and accrued income 415,308 460,346
Prepayments 166,360 -
1,021,469 1,136,906

Amounts falling due after more than one year:
Other debtors 130,000 -

Aggregate amounts 1,151,469 1,136,906

DAVISON & CO. (BARFORD) LIMITED (REGISTERED NUMBER: 00632148)

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

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,000,000 -
Hire purchase contracts 324,927 409,315
Trade creditors 512,970 582,444
Corporation tax 144,314 -
Other taxes and
social security 17,416 33,743
Other creditors 192,441 426,705
Directors' loan accounts 38,383 -
Accruals and deferred income 127,530 120,169
3,357,981 1,572,376

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years - 2,000,000
Bank loans more 5 yrs non-inst 500,000 700,000
Hire purchase contracts 265,866 290,687
Amounts owed to related
undertakings 59,855 187,588
Accruals and deferred income 40,781 45,354
866,502 3,223,629

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 500,000 700,000

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 2,500,000 2,700,000
Hire purchase contracts 590,793 700,002
3,090,793 3,400,002

Hire purchase creditors are secured on the assets to which they relate.

The bank overdraft is secured against freehold land.

Bank loans are secured by a fixed charge over sections of the company's land.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
63,000 Ordinary £1 63,000 63,000
1,700,000 Redeemable preference £1 1,700,000 1,850,000
1,763,000 1,913,000

DAVISON & CO. (BARFORD) LIMITED (REGISTERED NUMBER: 00632148)

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

12. CALLED UP SHARE CAPITAL - continued

Redeemable preference shares are redeemable at the option of the company.

£150,000 of £1 redeemable preference shares (2023: £250,000) were redeemed during the accounting period.

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
E F Davison
Balance outstanding at start of year 116,837 -
Amounts advanced 35,062 272,048
Amounts repaid (151,899 ) (155,211 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 116,837

Director's loans are repayable on demand and interest is charged on loans over £10,000.

14. RELATED PARTY DISCLOSURES

Included within other creditors is a loan in the sum of £122,371 (2023: £134,041) owing to the estate of a late director.

At the balance sheet date £130,000 (2023: NIL) was owed by a related party.

These loans are interest free and repayable on demand.