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REGISTERED NUMBER: 04480300 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

J R FIRBY LTD

J R FIRBY LTD (REGISTERED NUMBER: 04480300)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 October 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


J R FIRBY LTD

COMPANY INFORMATION
for the year ended 31 October 2024







DIRECTORS: J R Firby
Mrs D Firby
R R Firby





SECRETARY: Mrs D Firby





REGISTERED OFFICE: Carr House Farm
Slingsby
York
North Yorkshire
YO62 4AX





REGISTERED NUMBER: 04480300 (England and Wales)





ACCOUNTANTS: Smailes Goldie Watson Limited
Chartered Accountants
1 Church Street
Kirkbymoorside
YO62 6AZ

J R FIRBY LTD (REGISTERED NUMBER: 04480300)

STATEMENT OF FINANCIAL POSITION
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 6,366,464 6,364,370
6,366,464 6,364,370

CURRENT ASSETS
Inventories 5,299,081 5,383,112
Debtors 6 552,019 326,176
Investments 7 3,475 3,374
Cash at bank 709,466 -
6,564,041 5,712,662
CREDITORS
Amounts falling due within one year 8 1,177,179 1,311,024
NET CURRENT ASSETS 5,386,862 4,401,638
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,753,326

10,766,008

PROVISIONS FOR LIABILITIES 66,588 61,942
NET ASSETS 11,686,738 10,704,066

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 11,686,736 10,704,064
SHAREHOLDERS' FUNDS 11,686,738 10,704,066

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

J R FIRBY LTD (REGISTERED NUMBER: 04480300)

STATEMENT OF FINANCIAL POSITION - continued
31 October 2024


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

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 17 June 2025 and were signed on its behalf by:





J R Firby - Director


J R FIRBY LTD (REGISTERED NUMBER: 04480300)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 October 2024


1. STATUTORY INFORMATION

J R Firby Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern

The company has a net asset position and a healthy bank position and the directors are satisfied that there are sufficient resources in place to continue operating for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Significant judgements and estimates
In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

Critical judgements in applying the company's policies
No significant judgements have had to made by management in preparing these financial statements.

Critical accounting estimates and assumptions
An impairment review is performed on wholegood inventories at each year end by the Directors and impairment losses are estimated and recognised based on condition, obsolescence and current selling prices.

The directors do not consider that any other of the estimates and assumptions used in the preparation of these financial statements have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Revenue
Revenue represents goods and services supplied, excluding value added tax. Revenue is recognised to the extent that the company has obtained the right to consideration through its performance and is measured at the fair value of the right to consideration, excluding discounts and value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets, which relate to BPS entitlement, are valued at cost less any accumulated amortisation and any impairment. Amortisation is calculated on a straight line basis in line with income arising.

J R FIRBY LTD (REGISTERED NUMBER: 04480300)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2024


2. ACCOUNTING POLICIES - continued

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold Land & Buildings - 10% on reducing balance and Land - 0%
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to sell having due regard to any slow moving or obsolete 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 statement of financial position date.

Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
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.

The company also makes contributions to the personal pension scheme of two directors and contributions payable are charged in the profit and loss account in the period to which they relate.

J R FIRBY LTD (REGISTERED NUMBER: 04480300)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade, other accounts receivable and payable and loans from related parties.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised costs using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2023
and 31 October 2024 24,506
AMORTISATION
At 1 November 2023
and 31 October 2024 24,506
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

J R FIRBY LTD (REGISTERED NUMBER: 04480300)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2024


5. PROPERTY, PLANT AND EQUIPMENT
Freehold Fixtures
Land & Plant and and Motor
Buildings machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2023 6,312,608 517,222 9,656 50,980 6,890,466
Additions - 110,678 - - 110,678
At 31 October 2024 6,312,608 627,900 9,656 50,980 7,001,144
DEPRECIATION
At 1 November 2023 209,029 275,191 8,937 32,939 526,096
Charge for year 15,707 88,186 180 4,511 108,584
At 31 October 2024 224,736 363,377 9,117 37,450 634,680
NET BOOK VALUE
At 31 October 2024 6,087,872 264,523 539 13,530 6,366,464
At 31 October 2023 6,103,579 242,031 719 18,041 6,364,370

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 293,230 145,632
Other debtors 258,789 180,544
552,019 326,176

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Trade investments 3,475 3,374

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 62,215 253,009
Trade creditors 44,665 157,784
Taxation and social security 346,814 280,239
Other creditors 723,485 619,992
1,177,179 1,311,024

9. RELATED PARTY DISCLOSURES

The company farms 850 acres of land. Of this, 40 acres are rented from a third party and 220 acres are rented from the directors, who are also shareholders, rent free.