REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2024 |
for |
K W Naylor and Son (Holdings) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2024 |
for |
K W Naylor and Son (Holdings) Limited |
K W Naylor and Son (Holdings) Limited (Registered number: 09537064) |
Contents of the Financial Statements |
for the Year Ended 31 December 2024 |
Page |
Company information | 1 |
Chartered accountants' report | 2 |
Statement of financial position | 3 | to | 4 |
Notes to the financial statements | 5 | to | 10 |
K W Naylor and Son (Holdings) Limited |
Company Information |
for the Year Ended 31 December 2024 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
27 Market Place |
Market Deeping |
Peterborough |
Cambridgeshire |
PE6 8EA |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
K W Naylor and Son (Holdings) Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of K W Naylor and Son (Holdings) Limited for the year ended 31 December 2024 which comprise the Income statement, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of K W Naylor and Son (Holdings) Limited, as a body, in accordance with the terms of our engagement letter dated 24 February 2023. Our work has been undertaken solely to prepare for your approval the financial statements of K W Naylor and Son (Holdings) Limited and state those matters that we have agreed to state to the Board of Directors of K W Naylor and Son (Holdings) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than K W Naylor and Son (Holdings) Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that K W Naylor and Son (Holdings) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of K W Naylor and Son (Holdings) Limited. You consider that K W Naylor and Son (Holdings) Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of K W Naylor and Son (Holdings) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
27 Market Place |
Market Deeping |
Peterborough |
Cambridgeshire |
PE6 8EA |
K W Naylor and Son (Holdings) Limited (Registered number: 09537064) |
Statement of Financial Position |
31 December 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
Fixed assets |
Tangible assets | 5 |
Investments | 6 |
Investment property | 7 |
Current assets |
Debtors | 8 |
Cash at bank |
Creditors |
Amounts falling due within one year | 9 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 12 |
Revaluation reserve | 13 |
Capital redemption reserve | 13 |
Retained earnings | 13 |
Shareholders' funds |
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. |
K W Naylor and Son (Holdings) Limited (Registered number: 09537064) |
Statement of Financial Position - continued |
31 December 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
K W Naylor and Son (Holdings) Limited (Registered number: 09537064) |
Notes to the Financial Statements |
for the Year Ended 31 December 2024 |
1. | Statutory information |
K W Naylor and Son (Holdings) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the 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. |
Tangible fixed assets |
Freehold property | - |
Renewable energy equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
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 statement of financial position date. |
K W Naylor and Son (Holdings) Limited (Registered number: 09537064) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
3. | Accounting policies - continued |
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. |
4. | Employees and directors |
The average number of employees during the year was |
5. | Tangible fixed assets |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Cost or valuation |
At 1 January 2024 |
and 31 December 2024 |
Depreciation |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
Net book value |
At 31 December 2024 |
At 31 December 2023 |
Cost or valuation at 31 December 2024 is represented by: |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2021 | 2,170,000 | - | 2,170,000 |
Cost | - | 229,710 | 229,710 |
2,170,000 | 229,710 | 2,399,710 |
K W Naylor and Son (Holdings) Limited (Registered number: 09537064) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
5. | Tangible fixed assets - continued |
If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 825,036 | 825,036 |
Aggregate depreciation | 392,678 | 392,678 |
Value of land in freehold land and buildings | 68,045 | 68,045 |
Freehold land and buildings were included in the accounts for the year ended 31 December 2024 based on the valuation on an open market basis on 8 July 2021 by Strutt & Parker. |
6. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 January 2024 |
and 31 December 2024 |
Net book value |
At 31 December 2024 |
At 31 December 2023 |
The company's investments at the Statement of Financial Position date in the share capital of companies include the following: |
Naylor Flowers Limited |
Registered office: The Old Packhouse, Sycamore Farm, Moulton Commons, Spalding, Lincolnshire, PE12 6LF |
Nature of business: Flowers, bulb and produce growers |
% |
Class of Shares: | holding |
Ordinary A | 90.00 |
K W Naylor and Son (Holdings) Limited (Registered number: 09537064) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
7. | Investment property |
Total |
£ |
Fair value |
At 1 January 2024 |
and 31 December 2024 |
Net book value |
At 31 December 2024 |
At 31 December 2023 |
8. | Debtors |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Other debtors |
Aggregate amounts |
9. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
10. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Bank loans |
11. | Secured debts |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
The bank loan is secured by fixed and floating charges on property held by the company |
K W Naylor and Son (Holdings) Limited (Registered number: 09537064) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
12. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary A | £1 | 180,000 | 200,000 |
Ordinary B | £1 | 400,000 | 400,000 |
Ordinary C | £1 | 180,000 | 200,000 |
760,000 | 800,000 |
13. | Reserves |
Capital |
Retained | Revaluation | redemption |
earnings | reserve | reserve | Totals |
£ | £ | £ | £ |
At 1 January 2024 | 1,830,749 |
Profit for the year |
Dividends | ( |
) | ( |
) |
Purchase of own shares | (100,000 | ) | - | 40,000 | (60,000 | ) |
At 31 December 2024 | 1,816,207 |
14. | Directors' advances, credits and guarantees |
The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
K W Naylor and Son (Holdings) Limited (Registered number: 09537064) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
14. | Directors' advances, credits and guarantees - continued |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
The loans made to N W Naylor are unsecured and repayable on demand. |
15. | Related party disclosures |
During the year the company was owed £723,639 (2023: £759,307) by Naylor Flowers Limited, on interest free terms. |
K W Naylor and Son (Holdings) Ltd is Naylor Flowers Limited's parent undertaking. |