| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| T W BELL & SONS (FARMERS) LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| T W BELL & SONS (FARMERS) LIMITED |
| T W BELL & SONS (FARMERS) LIMITED (REGISTERED NUMBER: 00766794) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 30 September 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| T W BELL & SONS (FARMERS) LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 30 September 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Beckside Court |
| Annie Reed Road |
| Beverley |
| East Yorkshire |
| HU17 0LF |
| T W BELL & SONS (FARMERS) LIMITED (REGISTERED NUMBER: 00766794) |
| BALANCE SHEET |
| 30 September 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 8 |
| Retained earnings |
| 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. |
| T W BELL & SONS (FARMERS) LIMITED (REGISTERED NUMBER: 00766794) |
| BALANCE SHEET - continued |
| 30 September 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| T W BELL & SONS (FARMERS) LIMITED (REGISTERED NUMBER: 00766794) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 30 September 2024 |
| 1. | STATUTORY INFORMATION |
| T W Bell & Sons (Farmers) Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office at Eldon House, 8 High Street, Nafferton, Driffield, YO25 4JR. |
| The principal activity of the company is that of arable farming and the principal place of business is Raisthorpe Manor, Wharram, Malton. |
| The presentational currency of the financial statements is Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. |
| The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. |
| Turnover |
| Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts. |
| Turnover from the sale of goods is recognised at the point of sale. |
| Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Stocks |
| Stock are stated at the lower of cost, using the first in first out method, and selling price less costs to complete and sell. |
| In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion. |
| T W BELL & SONS (FARMERS) LIMITED (REGISTERED NUMBER: 00766794) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 balance sheet date. |
| Taxation |
| 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. |
| Government subsidies |
| Government subsidies are written off in the year in which they are received. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and |
| property | machinery | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 October 2023 |
| and 30 September 2024 |
| DEPRECIATION |
| At 1 October 2023 |
| and 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| Included in cost or valuation of land and buildings is freehold land of £ 256,500 (2023 - £ 256,500 ) which is not depreciated. |
| T W BELL & SONS (FARMERS) LIMITED (REGISTERED NUMBER: 00766794) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2024 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Cost or valuation at 30 September 2024 is represented by: |
| Freehold | Plant and |
| property | machinery | Totals |
| £ | £ | £ |
| Valuation in 1997 | 229,150 | - | 229,150 |
| Cost | 27,350 | 52,161 | 79,511 |
| 256,500 | 52,161 | 308,661 |
| If Freehold land and buildings had not been revalued they would have been included at the following historical cost: |
| 2024 | 2023 |
| £ | £ |
| Cost | 27,350 | 27,350 |
| Value of land in freehold land and buildings | 256,500 | 256,500 |
| Freehold land and buildings were valued on an open market basis on 30 September 1997 by Frank Hill & Son . |
| The directors have performed a valuation review in the current year and consider the carrying value at year end of the revalued land to be reasonable. |
| It is considered unlikely that disposal of these assets at their revalued amount would give rise to any significant liability to taxation. |
| 5. | FIXED ASSET INVESTMENTS |
| Unlisted |
| investments |
| £ |
| COST |
| At 1 October 2023 |
| and 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| T W BELL & SONS (FARMERS) LIMITED (REGISTERED NUMBER: 00766794) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2024 |
| 5. | FIXED ASSET INVESTMENTS - continued |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Registered office: Eldon House, Nafferton, Driffield, East Yorkshire, United Kingdom, YO25 4JR |
| Nature of business: |
| % |
| Class of shares: | holding |
| Subsidiary and Associated Company Investments |
| Investments in subsidiary and associated companies are stated at cost. |
| Subsidiary Company Directors |
| Directors emoluments and other benefits paid by its subsidiary company to directors of the holding company total £113,224 (2023: £80,825). |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Amounts owed by group undertakings |
| VAT |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Tax |
| Accrued expenses |
| 8. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 October 2023 |
| and 30 September 2024 |
| T W BELL & SONS (FARMERS) LIMITED (REGISTERED NUMBER: 00766794) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2024 |
| 9. | CONTINGENT LIABILITIES |
| The company has guaranteed the bank borrowings of its subsidiary under an unlimited cross guarantee. The indebtedness of its subsidiary to its bankers at 30 September 2024 amounted to £Nil (2023: £Nil). |
| The following security is held by HSBC Bank plc in respect of overdrawn balances: |
| - Fixed charge over the company's book debts. |
| - Second mortgages over freehold land at Church Lane, Vicarage Farm and Mere Farm, Fridaythorpe. |
| - First floating charge over all assets, goodwill, undertaking and uncalled capital given by the company. |
| - First legal charge over freehold land at Glebe Farm, Fridaythorpe. |
| 10. | RELATED PARTY DISCLOSURES |
| At the balance sheet date, the company was owed £ |
| At the balance sheet date, the company was owed £ |
| All of the above transactions were undertaken at arm's length on normal commercial terms. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The immediate and ultimate parent company is T W Bell & Sons (Holdings) Limited. T W Bell & Sons (Holdings) Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office and principle place of business at Eldon House, 8 High Street, Driffield. |
| T W Bell & Sons (Holdings) Limited has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
| The company is under the control of one of its directors, Mrs J C Bell, by virtue of holding the majority of the issued ordinary share capital of the parent company, T W Bell & Sons (Holdings) Limited. |