Silverfin false false 30/09/2024 01/10/2023 30/09/2024 Mr B A Clothier 02/01/1991 Mrs S Clothier 25/01/2010 Mrs S R Clothier 02/01/1991 13 June 2025 The principle activity of the company is mixed farming. 01098080 2024-09-30 01098080 bus:Director1 2024-09-30 01098080 bus:Director2 2024-09-30 01098080 bus:Director3 2024-09-30 01098080 2023-09-30 01098080 core:CurrentFinancialInstruments 2024-09-30 01098080 core:CurrentFinancialInstruments 2023-09-30 01098080 core:Non-currentFinancialInstruments 2024-09-30 01098080 core:Non-currentFinancialInstruments 2023-09-30 01098080 core:ShareCapital 2024-09-30 01098080 core:ShareCapital 2023-09-30 01098080 core:RetainedEarningsAccumulatedLosses 2024-09-30 01098080 core:RetainedEarningsAccumulatedLosses 2023-09-30 01098080 core:OtherResidualIntangibleAssets 2023-09-30 01098080 core:OtherResidualIntangibleAssets 2024-09-30 01098080 core:LandBuildings 2023-09-30 01098080 core:PlantMachinery 2023-09-30 01098080 core:OfficeEquipment 2023-09-30 01098080 core:LandBuildings 2024-09-30 01098080 core:PlantMachinery 2024-09-30 01098080 core:OfficeEquipment 2024-09-30 01098080 core:ConsumableBiologicalAssetClass1 2023-09-30 01098080 core:ConsumableBiologicalAssetClass1 2024-09-30 01098080 core:CostValuation 2023-09-30 01098080 core:CostValuation 2024-09-30 01098080 2023-10-01 2024-09-30 01098080 bus:FilletedAccounts 2023-10-01 2024-09-30 01098080 bus:SmallEntities 2023-10-01 2024-09-30 01098080 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 01098080 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 01098080 bus:Director1 2023-10-01 2024-09-30 01098080 bus:Director2 2023-10-01 2024-09-30 01098080 bus:Director3 2023-10-01 2024-09-30 01098080 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-10-01 2024-09-30 01098080 core:LandBuildings core:TopRangeValue 2023-10-01 2024-09-30 01098080 core:PlantMachinery core:BottomRangeValue 2023-10-01 2024-09-30 01098080 core:PlantMachinery core:TopRangeValue 2023-10-01 2024-09-30 01098080 core:PlantMachinery 2023-10-01 2024-09-30 01098080 core:OfficeEquipment core:TopRangeValue 2023-10-01 2024-09-30 01098080 2022-10-01 2023-09-30 01098080 core:OtherResidualIntangibleAssets 2023-10-01 2024-09-30 01098080 core:LandBuildings 2023-10-01 2024-09-30 01098080 core:OfficeEquipment 2023-10-01 2024-09-30 01098080 core:ConsumableBiologicalAssetClass1 2023-10-01 2024-09-30 01098080 core:Non-currentFinancialInstruments 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Company No: 01098080 (England and Wales)

N F CLOTHIER AND SONS LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

N F CLOTHIER AND SONS LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

N F CLOTHIER AND SONS LIMITED

BALANCE SHEET

As at 30 September 2024
N F CLOTHIER AND SONS LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 0 3,081
Tangible assets 4 3,441,899 2,845,112
Biological assets 5 935,142 908,657
Investments 6 300 300
4,377,341 3,757,150
Current assets
Stocks 7 1,435,398 1,391,348
Debtors 8 326,542 427,054
Cash at bank and in hand 0 69,930
1,761,940 1,888,332
Creditors: amounts falling due within one year 9 ( 1,005,062) ( 934,162)
Net current assets 756,878 954,170
Total assets less current liabilities 5,134,219 4,711,320
Creditors: amounts falling due after more than one year 10 ( 2,501,993) ( 2,223,228)
Provision for liabilities ( 456,482) ( 459,720)
Net assets 2,175,744 2,028,372
Capital and reserves
Called-up share capital 9,999 9,999
Profit and loss account 2,165,745 2,018,373
Total shareholders' funds 2,175,744 2,028,372

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.

Directors' responsibilities:

The financial statements of N F Clothier and Sons Limited (registered number: 01098080) were approved and authorised for issue by the Board of Directors on 13 June 2025. They were signed on its behalf by:

Mr B A Clothier
Director
N F CLOTHIER AND SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
N F CLOTHIER AND SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 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

N F Clothier and Sons Limited (the Company) is a private company, limited by shares, 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 Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, 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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

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 Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 25 years straight line
Plant and machinery 5 - 25 years straight line
15 % reducing balance
Office equipment 5 years straight line

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.

Biological assets

Biological assets are recognised only when the entity has control of the asset as a result of past events, it is probable that future economic benefits associated with the asset will flow to the entity; and the fair value or cost of the asset can be measured reliably.

The Company measures biological assets at cost less accumulated depreciation and accumulated impairment losses as follows:

Dairy herd 25% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 10 10

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 October 2023 120,689 120,689
At 30 September 2024 120,689 120,689
Accumulated amortisation
At 01 October 2023 117,608 117,608
Charge for the financial year 3,081 3,081
At 30 September 2024 120,689 120,689
Net book value
At 30 September 2024 0 0
At 30 September 2023 3,081 3,081

4. Tangible assets

Land and buildings Plant and machinery Office equipment Total
£ £ £ £
Cost
At 01 October 2023 1,307,159 3,243,943 892 4,551,994
Additions 683,891 174,408 0 858,299
Disposals 0 ( 43,526) 0 ( 43,526)
At 30 September 2024 1,991,050 3,374,825 892 5,366,767
Accumulated depreciation
At 01 October 2023 337,909 1,368,300 673 1,706,882
Charge for the financial year 50,590 199,233 178 250,001
Disposals 0 ( 32,015) 0 ( 32,015)
At 30 September 2024 388,499 1,535,518 851 1,924,868
Net book value
At 30 September 2024 1,602,551 1,839,307 41 3,441,899
At 30 September 2023 969,250 1,875,643 219 2,845,112

5. Biological assets

2024
£
Biological assets at cost 935,142

Assets held at cost:

Dairy Total
£ £
Cost
At 01 October 2023 1,149,931 1,149,931
Increase due to purchases/ transfers in 446,400 446,400
Decrease attributable to sales/ transfers out ( 408,600) ( 408,600)
At 30 September 2024 1,187,731 1,187,731
Accumulated depreciation
At 01 October 2023 241,274 241,274
Charge for the financial year 138,708 138,708
Decrease attributable to sales/ transfers out ( 127,393) ( 127,393)
At 30 September 2024 252,589 252,589
Net book value
At 30 September 2024 935,142 935,142
At 30 September 2023 908,657 908,657

6. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 October 2023 300 300
At 30 September 2024 300 300
Carrying value at 30 September 2024 300 300
Carrying value at 30 September 2023 300 300

7. Stocks

2024 2023
£ £
Stocks 1,435,398 1,391,348

8. Debtors

2024 2023
£ £
Trade debtors 263,689 329,609
Other debtors 62,853 97,445
326,542 427,054

9. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 285,934 57,868
Trade creditors 321,652 316,193
Taxation and social security 5,090 69,093
Obligations under finance leases and hire purchase contracts 140,766 123,919
Other creditors 251,620 367,089
1,005,062 934,162

10. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 2,474,398 2,131,621
Obligations under finance leases and hire purchase contracts 27,595 91,607
2,501,993 2,223,228

Within the above amounts, security has been given over fixed and floating assets over the business.