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J & V CASEY AND SON LIMITED

Registered Number
04687487
(England and Wales)

Unaudited Financial Statements for the Year ended
5 July 2024

J & V CASEY AND SON LIMITED
Company Information
for the year from 6 July 2023 to 5 July 2024

Directors

Mrs J M Casey
Mr M J Casey

Company Secretary

Mrs J M Casey

Registered Address

Willow Farm
Dogdyke New York
Lincoln
LN4 4UY

Registered Number

04687487 (England and Wales)
J & V CASEY AND SON LIMITED
Balance Sheet as at
5 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets313,78813,788
Tangible assets42,358,4622,304,394
2,372,2502,318,182
Current assets
Stocks5617,956475,330
Debtors6446,684531,050
Current asset investments76060
Cash at bank and on hand42,40475,032
1,107,1041,081,472
Creditors amounts falling due within one year8(764,988)(677,652)
Net current assets (liabilities)342,116403,820
Total assets less current liabilities2,714,3662,722,002
Creditors amounts falling due after one year9(1,566,680)(1,633,308)
Provisions for liabilities11(147,080)-
Net assets1,000,6061,088,694
Capital and reserves
Called up share capital100100
Profit and loss account1,000,5061,088,594
Shareholders' funds1,000,6061,088,694
The financial statements were approved and authorised for issue by the Board of Directors on 15 May 2025, and are signed on its behalf by:
Mr M J Casey
Director
Registered Company No. 04687487
J & V CASEY AND SON LIMITED
Notes to the Financial Statements
for the year ended 5 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated in the balance sheet at cost, less any subsequent accumulated impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery15-
Fixtures and fittings-10
Vehicles25-
Office Equipment15-
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year87
3.Intangible assets

Other

Total

££
Cost or valuation
At 06 July 2313,78813,788
At 05 July 2413,78813,788
Net book value
At 05 July 2413,78813,788
At 05 July 2313,78813,788
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 06 July 231,230,3581,051,14440,195797,1436,9833,125,823
Additions-104,384-1,613837106,834
At 05 July 241,230,3581,155,52840,195798,7567,8203,232,657
Depreciation and impairment
At 06 July 23-624,92320,469170,0106,027821,429
Charge for year-41,3474,9326,13035752,766
At 05 July 24-666,27025,401176,1406,384874,195
Net book value
At 05 July 241,230,358489,25814,794622,6161,4362,358,462
At 05 July 231,230,358426,22119,726627,1339562,304,394
5.Stocks

2024

2023

££
Other stocks617,956475,330
Total617,956475,330
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables165,300245,913
Amounts owed by group undertakings180,881215,280
Other debtors65,08455,789
Prepayments and accrued income35,41914,068
Total446,684531,050
7.Current asset investments
Financial assets at fair value Cost bfwd 60 Fair value adjustments - Carrying amount 5th July 2023 60 Carrying amount 5th July 2024 60
8.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables390,004244,166
Bank borrowings and overdrafts31,28630,342
Taxation and social security3,84013,691
Finance lease and HP contracts35,40044,390
Other creditors264,044273,457
Accrued liabilities and deferred income40,41471,606
Total764,988677,652
9.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts1,484,0301,515,258
Other creditors82,650118,050
Total1,566,6801,633,308
Bank borrowings Bounce back loan is denominated in £ with a nominal interest rate of 2.50%, and the final instalment is due in June 2026. The carrying amount at year end is £20,756 (2023 - £30,747). Other borrowings AMC loans with a carrying amount of £1,494,560 (2023 - £1,514,853) are denominated in £ with a nominal interest rate of market rate. The loans are secured on land at Tumby Woodside, Whitehouse Farm and land at Hurn Bridge Farm and are at a variable rate of interest.
10.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts82,650118,050
Hire purchase contracts with a carrying amount of £118,050 (2023 - £162,440) are denominated in £ with a nominal interest rate of market rate. The liabilities are secured on the related assets.
11.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)147,080-
Total147,080-