Silverfin false false 31/12/2024 01/01/2024 31/12/2024 S A Bond 08/05/2024 27/06/2013 A L Boydell (Vice President) 25/01/2022 J E Buckley 08/05/2024 M D Budd 15/06/2016 J H Butt-Evans 26/01/2021 L J Cottey 25/01/2024 23/03/2023 M J Cox 27/06/2013 A J Davies 08/07/2014 I B Eastwood 11/05/2006 D C Hughes 16/06/2016 D J Mccreadie 26/01/2021 N S Pugh 23/03/2023 J N Reeson (President) 27/06/2013 N Richardson 26/01/2021 P Roberts 15/06/2016 E S Thomas (Immediate Past President) 08/05/2024 26/04/2017 M A Tickle 18/11/2024 27/04/2021 J A Wright 26/01/2021 03 June 2025 The principal activity of the Company during the financial year was that of a trade association. 01703419 2024-12-31 01703419 bus:Director1 2024-12-31 01703419 bus:Director2 2024-12-31 01703419 bus:Director3 2024-12-31 01703419 bus:Director4 2024-12-31 01703419 bus:Director5 2024-12-31 01703419 bus:Director6 2024-12-31 01703419 bus:Director7 2024-12-31 01703419 bus:Director8 2024-12-31 01703419 bus:Director9 2024-12-31 01703419 bus:Director10 2024-12-31 01703419 bus:Director11 2024-12-31 01703419 bus:Director12 2024-12-31 01703419 bus:Director13 2024-12-31 01703419 bus:Director14 2024-12-31 01703419 bus:Director15 2024-12-31 01703419 bus:Director16 2024-12-31 01703419 bus:Director17 2024-12-31 01703419 bus:Director18 2024-12-31 01703419 2023-12-31 01703419 core:CurrentFinancialInstruments 2024-12-31 01703419 core:CurrentFinancialInstruments 2023-12-31 01703419 core:RetainedEarningsAccumulatedLosses 2024-12-31 01703419 core:RetainedEarningsAccumulatedLosses 2023-12-31 01703419 core:FurnitureFittings 2023-12-31 01703419 core:FurnitureFittings 2024-12-31 01703419 core:CostValuation 2023-12-31 01703419 core:AdditionsToInvestments 2024-12-31 01703419 core:DisposalsRepaymentsInvestments 2024-12-31 01703419 core:RevaluationsIncreaseDecreaseInInvestments 2024-12-31 01703419 core:CostValuation 2024-12-31 01703419 2024-01-01 2024-12-31 01703419 bus:FilletedAccounts 2024-01-01 2024-12-31 01703419 bus:SmallEntities 2024-01-01 2024-12-31 01703419 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 01703419 bus:CompanyLimitedByGuarantee 2024-01-01 2024-12-31 01703419 bus:Director1 2024-01-01 2024-12-31 01703419 bus:Director2 2024-01-01 2024-12-31 01703419 bus:Director3 2024-01-01 2024-12-31 01703419 bus:Director4 2024-01-01 2024-12-31 01703419 bus:Director5 2024-01-01 2024-12-31 01703419 bus:Director6 2024-01-01 2024-12-31 01703419 bus:Director7 2024-01-01 2024-12-31 01703419 bus:Director8 2024-01-01 2024-12-31 01703419 bus:Director9 2024-01-01 2024-12-31 01703419 bus:Director10 2024-01-01 2024-12-31 01703419 bus:Director11 2024-01-01 2024-12-31 01703419 bus:Director12 2024-01-01 2024-12-31 01703419 bus:Director13 2024-01-01 2024-12-31 01703419 bus:Director14 2024-01-01 2024-12-31 01703419 bus:Director15 2024-01-01 2024-12-31 01703419 bus:Director16 2024-01-01 2024-12-31 01703419 bus:Director17 2024-01-01 2024-12-31 01703419 bus:Director18 2024-01-01 2024-12-31 01703419 core:FurnitureFittings 2024-01-01 2024-12-31 01703419 2023-01-01 2023-12-31 01703419 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Company No: 01703419 (England and Wales)

BRISTOL CORN AND FEED TRADE ASSOCIATION LIMITED

(A company limited by guarantee)

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

BRISTOL CORN AND FEED TRADE ASSOCIATION LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

BRISTOL CORN AND FEED TRADE ASSOCIATION LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
BRISTOL CORN AND FEED TRADE ASSOCIATION LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 426 473
Investment property 4 219,666 225,298
Investments 5 735,585 740,527
955,677 966,298
Current assets
Debtors 6 16,700 20,349
Cash at bank and in hand 376,167 357,810
392,867 378,159
Creditors: amounts falling due within one year 7 ( 38,049) ( 40,641)
Net current assets 354,818 337,518
Total assets less current liabilities 1,310,495 1,303,816
Net assets 1,310,495 1,303,816
Reserves
Profit and loss account 1,310,495 1,303,816
Total reserves 1,310,495 1,303,816

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Bristol Corn and Feed Trade Association Limited (registered number: 01703419) were approved and authorised for issue by the Board of Directors on 03 June 2025. They were signed on its behalf by:

J N Reeson (President)
Director
BRISTOL CORN AND FEED TRADE ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
BRISTOL CORN AND FEED TRADE ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bristol Corn and Feed Trade Association Limited (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Farm Office, Redend Farm Station Road, Pilning, Bristol, BS35 4JW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is based on Members' Subscriptions receivable during the year and income from Social Events held during the year, net of VAT.

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and the other sales taxes.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 10 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases


The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 14 17

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 January 2024 660 660
At 31 December 2024 660 660
Accumulated depreciation
At 01 January 2024 187 187
Charge for the financial year 47 47
At 31 December 2024 234 234
Net book value
At 31 December 2024 426 426
At 31 December 2023 473 473

4. Investment property

Investment property
£
Valuation
As at 01 January 2024 225,298
Fair value movement (5,632)
As at 31 December 2024 219,666

Valuation

The Investment property was valued at 31 December 2024 by the directors of the company on an open market value for existing use basis.

5. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 January 2024 740,527 740,527
Additions 88,665 88,665
Disposals ( 113,024) ( 113,024)
Movement in fair value 19,417 19,417
At 31 December 2024 735,585 735,585
Carrying value at 31 December 2024 735,585 735,585
Carrying value at 31 December 2023 740,527 740,527

6. Debtors

2024 2023
£ £
Trade debtors 5,412 12,840
Prepayments 3,602 3,990
VAT recoverable 7,398 0
Other debtors 288 3,519
16,700 20,349

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 5,373 0
Accruals and deferred income 32,676 8,604
Other taxation and social security 0 32,037
38,049 40,641

There are no amounts included above in respect of which any security has been given by the small entity.

8. Liability of members

The members of the Bristol Corn and Feed Trade Association Limited have undertaken to contribute a sum not exceeding £1 each to meet the liabilities of the Company if it should be wound up.

9. Related party transactions

During the year, management charges of £44,966 (2023: £44,966) and other costs of £9,992 (2023: £7,480) were payable by the company to Fortis9 Limited, a company in which V A Bywater (the company secretary) is a director and shareholder. At 31 December 2024 an amount of £5,384 (2023: £Nil) was owed to this company.