J.W.Greaves & Sons,Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00067876 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2024

FOR

J.W.GREAVES & SONS,LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J L Altham

D H M Williams-Ellis

M S Bewick

SECRETARY:

M S Bewick

REGISTERED OFFICE:

Llechwedd Slate Mines

Blaenau Ffestiniog

Gwynedd

LL41 3NB

REGISTERED NUMBER:

00067876 (England and Wales)

ACCOUNTANTS:

Williams Denton Cyf

Chartered Certified Accountants

Glaslyn

Ffordd y Parc

Parc Menai

Bangor

Gwynedd

LL57 4FE

FIXED ASSETS

Tangible assets

4

3,528,414

3,611,010

Investments

5

-

Investment property

6

3,550,764

3,584,748

7,079,178

7,195,758

CURRENT ASSETS

Stocks

-

7,453

Debtors

624,471

414,572

Cash at bank

355,044

-

979,515

422,025

CREDITORS

Amounts falling due within one year

865,739

855,040

NET CURRENT ASSETS/(LIABILITIES)

113,776

(433,015

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

7,192,954

6,762,743

CREDITORS

Amounts falling due after more than one
year

(996,324

)

(1,480,284

)

PROVISIONS FOR LIABILITIES

(1,212,197

)

(934,755

)

ACCRUALS AND DEFERRED INCOME

(334,749

)

(342,274

)

NET ASSETS

4,649,684

4,005,430

CAPITAL AND RESERVES

Called up share capital

17,170

17,171

Share premium

3,102,387

Capital redemption reserve

1

-

Retained earnings

1,530,126

885,872

SHAREHOLDERS' FUNDS

4,649,684

4,005,430

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 6 May 2025 and were signed on its behalf by:

M S Bewick - Director

1.	STATUTORY INFORMATION

J.W.Greaves & Sons,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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable services rendered, stated net of discounts and of Value Added Tax. When the consideration receivable in cash or cash equivalents is deferred, and the arrangement constitutes in effect a financing transaction, the fair value of the consideration is measured as the present value of all future receipts determined using an imputed rate of interest, normally the rate that discounts the nominal amount of consideration to the cash sales price.

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

at variable rates on reducing balance

Freehold Land and Buildings have been reclassified as investment property on the transition to FRS 102. Some of the land and buildings are used for trading purposes however the value of this land could not be ascertained without undue cost and effort. The directors have therefore decided it to be prudent to include all Land and Buildings as Investment Property.

Investment property

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Investment properties whose fair value cannot be measured reliably without undue cost or effort on an on-going basis are included in plant, property and equipment at cost less accumulated depreciation and accumulated impairment losses.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Valuation of investments

Investments in subsidiary companies are stated at directors valuation of fair value less any provision for impairment. The revaluation is based on the company share of the underlying net assets of the subsidiaries.

Going concern

The financial statements have been prepared on a going concern basis. The directors are satisfied that the company has the necessary funding to meet day to day working capital requirements. The company is dependant upon the financial support of the group's bankers who have provided a bank facility which the company directors consider adequate for the group's needs. This facility continues to be available to the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 41 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 October 2023

5,333,734

Additions

91,279

At 30 September 2024

5,425,013

DEPRECIATION

At 1 October 2023

1,722,724

Charge for year

173,875

At 30 September 2024

1,896,599

NET BOOK VALUE

At 30 September 2024

3,528,414

At 30 September 2023

3,611,010

The company has allowed a charge over the company's assets, including the plant and machinery owned outright with a carrying amount of £3,528,414, as security for the bank.

Cost or valuation at 30 September 2024 is represented by:

Totals

£

Valuation in 2013

1,545,256

Valuation in 2017

350,000

Cost

3,723,757

5,619,013

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024

2023

£

Cost

556,565

Aggregate depreciation

387,104

Value of land in freehold land and buildings

165,489

Freehold land and buildings were valued on an open market basis on 30 September 2006 by the company directors .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST OR VALUATION

At 1 October 2023

and 30 September 2024

30,266

DEPRECIATION

At 1 October 2023

16,527

Charge for year

1,527

At 30 September 2024

18,054

NET BOOK VALUE

At 30 September 2024

12,212

At 30 September 2023

13,739

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 October 2023

and 30 September 2024

718,290

PROVISIONS

At 1 October 2023

and 30 September 2024

718,290

NET BOOK VALUE

At 30 September 2024

-

At 30 September 2023

-

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2023

and 30 September 2024

4,120,875

DEPRECIATION

At 1 October 2023

536,127

Charge for year

33,984

At 30 September 2024

570,111

NET BOOK VALUE

At 30 September 2024

3,550,764

At 30 September 2023

3,584,748

Fair value at 30 September 2024 is represented by:

£

Valuation in 2017

3,829,740

Valuation in 2019

(201,097

)

Cost

492,232

4,120,875

7.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank loans

1,250,003

1,375,769

8.	RELATED PARTY DISCLOSURES

Transactions with Subsidiary Companies:

Greaves Ellis Davies

The company has received a loan from Greaves Ellis Davies Ltd of £325,585.15, this was repaid during the year.