Company registration number 00742499 (England and Wales)
PETER STRAWSON LIMITED
Unaudited Financial Statements
For The Year Ended 30 September 2024
Pages For Filing With Registrar
Peter Strawson Limited
PETER STRAWSON LIMITED
Company Information
Directors
Mr GP Strawson
Mrs P Strawson
Mrs CE Pearce
Mr RP Strawson
Secretary
Idyllic Estates Limited
Company number
00742499
Registered office
East Ravendale Farm
East Ravendale
Grimsby
Lincolnshire
England
DN37 0RX
Accountants
Chavereys Limited
The Goods Shed
Jubilee Way
Faversham
Kent
England
ME13 8GD
Peter Strawson Limited
PETER STRAWSON LIMITED
Contents
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 10
Peter Strawson Limited
PETER STRAWSON LIMITED
Accountants' Report To The Board Of Directors On The Preparation Of The Unaudited Statutory Financial Statements Of Peter Strawson Limited For The Year Ended 30 September 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Peter Strawson Limited for the year ended 30 September 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Peter Strawson Limited, as a body, in accordance with the terms of our engagement letter dated 11 April 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Peter Strawson Limited and state those matters that we have agreed to state to the board of directors of Peter Strawson Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Peter Strawson Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Peter Strawson Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Peter Strawson Limited. You consider that Peter Strawson Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Peter Strawson Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Chavereys Limited
Chartered Accountants
The Goods Shed
Jubilee Way
Faversham
Kent
ME13 8GD
England
10 June 2025
Peter Strawson Limited
PETER STRAWSON LIMITED
Balance Sheet
As At 30 September 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
3,103,528
2,987,613
Investments
6
507,750
507,750
3,611,278
3,495,363
Current assets
Stocks
7
983,461
1,126,101
Debtors
8
2,967,115
2,806,405
Cash at bank and in hand
2,407
24,074
3,952,983
3,956,580
Creditors: amounts falling due within one year
9
(2,893,963)
(2,974,633)
Net current assets
1,059,020
981,947
Total assets less current liabilities
4,670,298
4,477,310
Creditors: amounts falling due after more than one year
10
(1,384,795)
(1,096,950)
Provisions for liabilities
(82,820)
(46,835)
Net assets
3,202,683
3,333,525
Capital and reserves
Called up share capital
12
1,026
1,026
Share premium account
499,975
499,975
Profit and loss reserves
2,701,682
2,832,524
Total equity
3,202,683
3,333,525
The notes on pages 4 to 10 form part of these financial statements.
Peter Strawson Limited
PETER STRAWSON LIMITED
Balance Sheet (Continued)
As At 30 September 2024
- 3 -
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 9 June 2025 and are signed on its behalf by:
Mr GP Strawson
Director
Company registration number 00742499 (England and Wales)
Peter Strawson Limited
PETER STRAWSON LIMITED
Notes To The Financial Statements
For The Year Ended 30 September 2024
- 4 -
1
Accounting policies
Company information
Peter Strawson Limited is a private company limited by shares incorporated in England and Wales. The registered office is East Ravendale Farm, East Ravendale, Grimsby, Lincolnshire, England, DN37 0RX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Turnover
Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.
When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
BPS entitlements
25% straight line
Customer lists
25% straight line
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Peter Strawson Limited
PETER STRAWSON LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 30 September 2024
1
Accounting policies
(Continued)
- 5 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
0 - 10% reducing balance
Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of 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). 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.
1.7
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Peter Strawson Limited
PETER STRAWSON LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 30 September 2024
1
Accounting policies
(Continued)
- 6 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
The company measures biological assets at cost less accumulated depreciation and accumulated impairment losses.
In respect of agricultural produce harvested from a biological asset, this is measured at the point of harvest at either;
lower of cost and estimated selling price less costs to complete and sell; or
fair value less costs to sell with any gain or loss arising on initial recognition of agricultural produce at fair value less costs to sell being included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
12
11
3
Taxation
2024
2023
£
£
Current tax
Adjustments in respect of prior periods
64
Deferred tax
Origination and reversal of timing differences
35,985
(13,298)
Total tax charge/(credit)
35,985
(13,234)
Peter Strawson Limited
PETER STRAWSON LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 30 September 2024
- 7 -
4
Intangible fixed assets
BPS entitlements
Customer lists
Total
£
£
£
Cost
At 1 October 2023
48,570
4,000
52,570
Disposals
(48,570)
(4,000)
(52,570)
At 30 September 2024
Amortisation and impairment
At 1 October 2023
48,570
4,000
52,570
Disposals
(48,570)
(4,000)
(52,570)
At 30 September 2024
Carrying amount
At 30 September 2024
At 30 September 2023
5
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 October 2023
2,910,925
718,268
31,717
89,540
3,750,450
Additions
222,981
2,301
8,200
233,482
Disposals
(128,993)
(29,350)
(158,343)
At 30 September 2024
2,910,925
812,256
34,018
68,390
3,825,589
Depreciation and impairment
At 1 October 2023
156,265
518,860
27,882
59,830
762,837
Depreciation charged in the year
5,211
59,348
1,317
7,060
72,936
Eliminated in respect of disposals
(94,143)
(19,569)
(113,712)
At 30 September 2024
161,476
484,065
29,199
47,321
722,061
Carrying amount
At 30 September 2024
2,749,449
328,191
4,819
21,069
3,103,528
At 30 September 2023
2,754,660
199,408
3,835
29,710
2,987,613
Peter Strawson Limited
PETER STRAWSON LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 30 September 2024
- 8 -
6
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
507,750
507,750
7
Stocks
2024
2023
£
£
Growing crop
239,103
244,840
Crop in store
697,586
824,790
Consumables
46,772
56,471
983,461
1,126,101
Biological assets included within stock are as follows:
Biological assets - growing crop
2024
2023
£
£
As at 1 October
244,840
235,964
Net movement on cultivations
(5,737)
8,876
As at 30 September
239,103
244,840
8
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
220,861
227,998
Amounts owed by group undertakings
617,719
552,719
Other debtors
1,850,519
1,799,650
Prepayments and accrued income
278,016
226,038
2,967,115
2,806,405
Peter Strawson Limited
PETER STRAWSON LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 30 September 2024
- 9 -
9
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
1,538,772
1,756,104
Other borrowings
681,885
702,196
Trade creditors
232,328
301,388
Taxation and social security
10,104
3,920
Other creditors
118,203
143,890
Accruals and deferred income
312,671
67,135
2,893,963
2,974,633
Bank loans are secured by fixed and floating charges over the company's land and property.
A loan of £1,052,829 due for repayment in October 2024, and therefore shown in creditors due within one year, was refinanced into a replacement fixed interest rate loan to be amortised over 240 months.
10
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,060,071
1,096,950
Other creditors
324,724
1,384,795
1,096,950
Creditors which fall due after five years are payable as follows:
Payable by instalments
894,718
938,073
The balances not wholly repayable within five years comprise a bank loan repayable by monthly repayments up to maturity on 26 May 2045 and bearing an interest rate of 3.19%.
11
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
82,820
46,835
Peter Strawson Limited
PETER STRAWSON LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 30 September 2024
11
Deferred taxation
(Continued)
- 10 -
2024
Movements in the year:
£
Liability at 1 October 2023
46,835
Charge to profit or loss
35,985
Liability at 30 September 2024
82,820
12
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
102,600
102,600
1,026
1,026
2024
2023
2024
2023
Preference share capital
Number
Number
£
£
Issued and fully paid
Preference of £1 each
500,000
500,000
500,000
500,000
Preference shares classified as liabilities
500,000
500,000
The preference shares may be redeemed at par, at the option of the holder, upon the holder giving six months' notice in writing to the company. No premium is payable on redemption.
Each preference share carries the right to a fixed cumulative preferential dividend of 2.25% per annum payable in arrears on 31 March, 30 June, 30 September and 31 December in each year and in priority to any other dividend paid to the holders of any other class of shares.
Preference shares treated as debt are included within other borrowings (see note 9).
13
Related party transactions
Transactions with related parties
At the year end, the directors were due £117,357 (2023: £143,890) from the company.
During the year the company loaned £66,133 (2023: £50,173) to RPS Developments Limited, a company in which one of the directors is member of key management personnel. As at the year end the company was due £1,809,362 (2023: £1,743,229) from RPS Developments Limited. Interest is charged at 3.19% per annum on the outstanding balance.
2024-09-302023-10-01falsefalsefalse10 June 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr GP StrawsonMrs P StrawsonMrs CE PearceMr RP StrawsonIdyllic Estates Limited007424992023-10-012024-09-3000742499bus:Director12023-10-012024-09-3000742499bus:Director22023-10-012024-09-3000742499bus:Director32023-10-012024-09-3000742499bus:Director42023-10-012024-09-3000742499bus:CompanySecretary12023-10-012024-09-3000742499bus:RegisteredOffice2023-10-012024-09-30007424992024-09-30007424992023-09-3000742499core:LandBuildingscore:OwnedOrFreeholdAssets2024-09-3000742499core:PlantMachinery2024-09-3000742499core:FurnitureFittings2024-09-3000742499core:MotorVehicles2024-09-3000742499core:LandBuildingscore:OwnedOrFreeholdAssets2023-09-3000742499core:PlantMachinery2023-09-3000742499core:FurnitureFittings2023-09-3000742499core:MotorVehicles2023-09-3000742499core:ShareCapital2024-09-3000742499core:ShareCapital2023-09-3000742499core:SharePremium2024-09-3000742499core:SharePremium2023-09-3000742499core:RetainedEarningsAccumulatedLosses2024-09-3000742499core:RetainedEarningsAccumulatedLosses2023-09-3000742499core:ShareCapitalOrdinaryShareClass12024-09-3000742499core:ShareCapitalOrdinaryShareClass12023-09-3000742499core:ShareCapitalPreferenceShareClass12024-09-3000742499core:ShareCapitalPreferenceShareClass12023-09-3000742499core:IntangibleAssetsOtherThanGoodwill2023-10-012024-09-3000742499core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-10-012024-09-3000742499core:Non-standardIntangibleAssetClass2ComponentIntangibleAssetsOtherThanGoodwill2023-10-012024-09-3000742499core:LandBuildingscore:OwnedOrFreeholdAssets2023-10-012024-09-3000742499core:PlantMachinery2023-10-012024-09-3000742499core:FurnitureFittings2023-10-012024-09-3000742499core:MotorVehicles2023-10-012024-09-30007424992022-10-012023-09-3000742499core:UKTax2023-10-012024-09-3000742499core:UKTax2022-10-012023-09-3000742499core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-09-3000742499core:Non-standardIntangibleAssetClass2ComponentIntangibleAssetsOtherThanGoodwill2023-09-30007424992023-09-3000742499core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2024-09-3000742499core:Non-standardIntangibleAssetClass2ComponentIntangibleAssetsOtherThanGoodwill2024-09-3000742499core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-09-3000742499core:Non-standardIntangibleAssetClass2ComponentIntangibleAssetsOtherThanGoodwill2023-09-3000742499core:LandBuildingscore:OwnedOrFreeholdAssets2023-09-3000742499core:PlantMachinery2023-09-3000742499core:FurnitureFittings2023-09-3000742499core:MotorVehicles2023-09-3000742499core:CurrentFinancialInstruments2024-09-3000742499core:CurrentFinancialInstruments2023-09-3000742499core:Non-currentFinancialInstruments2024-09-3000742499core:Non-currentFinancialInstruments2023-09-3000742499bus:OrdinaryShareClass12023-10-012024-09-3000742499bus:PreferenceShareClass12023-10-012024-09-3000742499bus:OrdinaryShareClass12024-09-3000742499bus:OrdinaryShareClass12023-09-3000742499bus:PreferenceShareClass12024-09-3000742499bus:PreferenceShareClass12023-09-3000742499bus:PrivateLimitedCompanyLtd2023-10-012024-09-3000742499bus:SmallCompaniesRegimeForAccounts2023-10-012024-09-3000742499bus:FRS1022023-10-012024-09-3000742499bus:AuditExemptWithAccountantsReport2023-10-012024-09-3000742499bus:FullAccounts2023-10-012024-09-30xbrli:purexbrli:sharesiso4217:GBP