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Registration number: 00651060

A.A.Broughton & Son Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

A.A.Broughton & Son Limited

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 10

 

A.A.Broughton & Son Limited

Company Information

Director

Mr James Donne Broughton

Registered office

10 South Street
Bridport
Dorset
DT6 3NJ

Accountants

M W Burrough & Co
Chartered Accountants10 South Street
Bridport
Dorset
DT6 3NJ

 

A.A.Broughton & Son Limited

(Registration number: 00651060)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

3,145

3,145

Tangible assets

5

1,048,834

1,133,819

Investment property

6

601,200

556,200

 

1,653,179

1,693,164

Current assets

 

Stocks

7

34,358

352,000

Debtors

8

234,299

46,413

Investments

9

45

45

Cash at bank and in hand

 

390,180

311,656

 

658,882

710,114

Creditors: Amounts falling due within one year

10

(175,115)

(90,648)

Net current assets

 

483,767

619,466

Total assets less current liabilities

 

2,136,946

2,312,630

Creditors: Amounts falling due after more than one year

10

(543,610)

(888,254)

Provisions for liabilities

(98,037)

(82,104)

Net assets

 

1,495,299

1,342,272

Capital and reserves

 

Called up share capital

11

11,792

11,792

Share premium reserve

686,309

686,309

Other reserves

145,479

120,668

Retained earnings

651,719

523,503

Shareholders' funds

 

1,495,299

1,342,272

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 June 2025
 

.........................................
Mr James Donne Broughton
Director

 

A.A.Broughton & Son Limited

Statement of Changes in Equity for the Year Ended 30 September 2024

Share capital
£

Share premium
£

Non-distributable reserve
£

Retained earnings
£

Total
£

At 1 October 2023

11,792

686,309

120,668

523,503

1,342,272

Profit for the year

-

-

-

167,527

167,527

Dividends

-

-

-

(14,500)

(14,500)

Fair value adjustment

-

-

45,000

(45,000)

-

Other movements on reserves

-

-

(20,189)

20,189

-

At 30 September 2024

11,792

686,309

145,479

651,719

1,495,299

Share capital
£

Share premium
£

Non-distributable reserve
£

Retained earnings
£

Total
£

At 1 October 2022

11,792

686,309

87,458

521,799

1,307,358

Profit for the year

-

-

-

47,914

47,914

Dividends

-

-

-

(13,000)

(13,000)

Fair value adjustment

-

-

41,000

(41,000)

-

Other movements on reserves

-

-

(7,790)

7,790

-

At 30 September 2023

11,792

686,309

120,668

523,503

1,342,272

 

A.A.Broughton & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
10 South Street
Bridport
Dorset
DT6 3NJ
England

The principal place of business is:
Impens
North Newton
Bridgwater
Somerset
TA7 0BB

These financial statements were authorised for issue by the director on 3 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

A.A.Broughton & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Tractors

30% reducing balance

Motor Vehicles

25% reducing balance

Long Leashold land and buildings

Over 20 years

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Entitlements

over 10 years

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

A.A.Broughton & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

 

A.A.Broughton & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 October 2023

3,145

3,145

At 30 September 2024

3,145

3,145

Amortisation

Carrying amount

At 30 September 2024

3,145

3,145

At 30 September 2023

3,145

3,145

 

A.A.Broughton & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Tangible assets

Land and buildings
£

Long leasehold land and buildings
£

Tractors
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

591,929

940,469

363,400

808,891

49,497

2,754,186

Additions

-

-

-

832

55,875

56,707

Disposals

-

-

(174,400)

(216,610)

(43,347)

(434,357)

At 30 September 2024

591,929

940,469

189,000

593,113

62,025

2,376,536

Depreciation

At 1 October 2023

-

681,741

298,405

609,010

31,211

1,620,367

Charge for the year

-

-

9,970

24,534

13,889

48,393

Eliminated on disposal

-

-

(142,638)

(179,456)

(18,964)

(341,058)

At 30 September 2024

-

681,741

165,737

454,088

26,136

1,327,702

Carrying amount

At 30 September 2024

591,929

258,728

23,263

139,025

35,889

1,048,834

At 30 September 2023

591,929

258,728

64,995

199,881

18,286

1,133,819

Included within the net book value of land and buildings above is £591,929 (2023 - £591,929) in respect of freehold land and buildings and £258,728 (2023 - £258,728) in respect of long leasehold land and buildings.
 

 

A.A.Broughton & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Investment properties

2024
£

At 1 October

556,200

Fair value adjustments

45,000

At 30 September

601,200

There has been no valuation of investment property by an independent valuer.

7

Stocks

2024
£

2023
£

Raw materials and consumables

34,358

352,000

8

Debtors

Current

2024
£

2023
£

Trade debtors

225,010

4,144

Other debtors

9,289

42,269

 

234,299

46,413

9

Current asset investments

2024
£

2023
£

Other investments

45

45

 

A.A.Broughton & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

10

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

12

8,342

33,427

Trade creditors

 

30,532

10,355

Taxation and social security

 

121,054

29,405

Accruals and deferred income

 

13,985

16,414

Other creditors

 

1,202

1,047

 

175,115

90,648

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

12

543,610

888,254

11

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

11,692

11,692

11,692

11,692

Ordinary A of £1 each

100

100

100

100

11,792

11,792

11,792

11,792

12

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

543,610

888,254

Current loans and borrowings

2024
£

2023
£

Bank borrowings

8,342

33,427