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Registration number: 04545017

J Drinkall Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 September 2024

Pages for filing with Registrar

 

J Drinkall Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Abridged Financial Statements

4 to 10

 

J Drinkall Limited

Company Information

Directors

Miss H L Drinkall

Mr I J Drinkall

Mr A W Page

Registered office

Telfor's Barn
Moor Road
Anglezarke
Chorley
PR6 9DG

 

J Drinkall Limited

(Registration number: 04545017)
Abridged Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

653,934

690,601

Investment property

6

469,693

-

 

1,123,627

690,601

Current assets

 

Stocks

75,140

71,415

Debtors

9,616

39,589

Cash at bank and in hand

 

483,753

606,090

 

568,509

717,094

Prepayments and accrued income

 

36,414

226,765

Creditors: Amounts falling due within one year

(86,045)

(62,241)

Net current assets

 

518,878

881,618

Total assets less current liabilities

 

1,642,505

1,572,219

Provisions for liabilities

(44,663)

(38,201)

Accruals and deferred income

 

(93,830)

(74,594)

Net assets

 

1,504,012

1,459,424

Capital and reserves

 

Called up share capital

50

50

Retained earnings

1,503,962

1,459,374

Shareholders' funds

 

1,504,012

1,459,424

 

J Drinkall Limited

(Registration number: 04545017)
Abridged Balance Sheet as at 30 September 2024 (continued)

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 April 2025 and signed on its behalf by:
 

.........................................
Mr I J Drinkall
Director

 

J Drinkall Limited

Notes to the Abridged Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Telfor's Barn
Moor Road
Anglezarke
Chorley
PR6 9DG
United Kingdom

These financial statements were authorised for issue by the Board on 28 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

 

J Drinkall Limited

Notes to the Abridged Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Key sources of estimation uncertainty

Tangible fixed assets, other than investment properties, are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.. The carrying amount is £653,934 (2023 -£690,601).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

The company recognises government grants on the accruals model under FRS102.

Grants that compensate the company for expenses incurred are recognised in profit or loss on a systematic basis in the periods in which the expenses are recognised.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

J Drinkall Limited

Notes to the Abridged Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and Buildings

2% Straight line, Land not depreciated

Plant and Machinery

20% Reducing balance

Motor Vehicles

25% Reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Intangible assets

Single Payment Schemes are shown at historical cost.

Single Payment Scheme intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

J Drinkall Limited

Notes to the Abridged Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Asset class

Amortisation method and rate

SPS Entitlements

20% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods comprises direct materials. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

 

J Drinkall Limited

Notes to the Abridged Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company’s statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and liability simultaneously.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. As equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

J Drinkall Limited

Notes to the Abridged Financial Statements for the Year Ended 30 September 2024 (continued)

4

Intangible assets

Total
£

Cost or valuation

At 1 October 2023

16,997

At 30 September 2024

16,997

Amortisation

At 1 October 2023

16,997

At 30 September 2024

16,997

Carrying amount

At 30 September 2024

-

5

Tangible assets

Total
£

Cost or valuation

At 1 October 2023

1,120,725

Additions

79,889

Disposals

(43,802)

Transfers to/from investment property

(46,159)

At 30 September 2024

1,110,653

Depreciation

At 1 October 2023

430,124

Charge for the year

55,625

Eliminated on disposal

(29,030)

At 30 September 2024

456,719

Carrying amount

At 30 September 2024

653,934

At 30 September 2023

690,601

 

J Drinkall Limited

Notes to the Abridged Financial Statements for the Year Ended 30 September 2024 (continued)

5

Tangible assets (continued)

Included within the net book value of land and buildings above is £341,980 (2023 - £387,541) in respect of freehold land and buildings.
 

6 Investment properties

2024
£

Additions

423,534

Transfers to and from Tangible assets

46,159

At 30 September

469,693

There has been no valuation of investment property by an independent valuer.

7

Related party transactions

Loans to related parties

2024

Key management
£

At start of period

23,931

Repaid

(24,495)

Interest at 2.25%

564

At end of period

-

2023

Key management
£

At start of period

56,091

Repaid

(33,107)

Interest at 2.25%

947

At end of period

23,931

Loans owed by key management are repayable on demand.