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Company No: 00541702 (England and Wales)

MAUNDER AND SONS (THE FARMERS' STORES) LIMITED

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

MAUNDER AND SONS (THE FARMERS' STORES) LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2024

Contents

MAUNDER AND SONS (THE FARMERS' STORES) LIMITED

BALANCE SHEET

As at 30 November 2024
MAUNDER AND SONS (THE FARMERS' STORES) LIMITED

BALANCE SHEET (continued)

As at 30 November 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 75,061 97,347
Investments 4 2,438 2,438
77,499 99,785
Current assets
Stocks 612,925 672,191
Debtors 5 500,562 1,294,852
Cash at bank and in hand 2,623,657 2,169,861
3,737,144 4,136,904
Creditors: amounts falling due within one year 6 ( 615,575) ( 603,632)
Net current assets 3,121,569 3,533,272
Total assets less current liabilities 3,199,068 3,633,057
Creditors: amounts falling due after more than one year 7 ( 300,000) ( 300,000)
Provision for liabilities ( 18,544) ( 23,388)
Net assets 2,880,524 3,309,669
Capital and reserves
Called-up share capital 8 10,000 10,000
Profit and loss account 2,870,524 3,299,669
Total shareholder's funds 2,880,524 3,309,669

For the financial year ending 30 November 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 financial statements of Maunder and Sons (The Farmers' Stores) Limited (registered number: 00541702) were approved and authorised for issue by the Director on 19 June 2025. They were signed on its behalf by:

Mr J L Thorns
Director
MAUNDER AND SONS (THE FARMERS' STORES) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
MAUNDER AND SONS (THE FARMERS' STORES) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 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

Maunder and Sons (The Farmers' Stores) 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 Maunder And Sons (The Farmers' Stores) Limited, Scarne Industrial Estate, Launceston, PL15 9HS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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.

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 investment property 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:

Vehicles 25 % reducing balance
Fixtures and fittings 5 - 20 % 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.

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost 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 the director 20 21

3. Tangible assets

Vehicles Fixtures and fittings Total
£ £ £
Cost
At 01 December 2023 232,928 253,049 485,977
At 30 November 2024 232,928 253,049 485,977
Accumulated depreciation
At 01 December 2023 176,706 211,924 388,630
Charge for the financial year 14,060 8,226 22,286
At 30 November 2024 190,766 220,150 410,916
Net book value
At 30 November 2024 42,162 32,899 75,061
At 30 November 2023 56,222 41,125 97,347

4. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 December 2023 2,438 2,438
At 30 November 2024 2,438 2,438
Carrying value at 30 November 2024 2,438 2,438
Carrying value at 30 November 2023 2,438 2,438

5. Debtors

2024 2023
£ £
Trade debtors 384,037 410,312
Amounts owed by Group undertakings 0 788,785
Prepayments and accrued income 12,757 13,755
Other debtors 103,768 82,000
500,562 1,294,852

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 397,227 282,229
Amounts owed to Group undertakings 50,500 151,436
Accruals 14,061 18,224
Taxation and social security 151,716 150,127
Other creditors 2,071 1,616
615,575 603,632

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

2024 2023
£ £
Amounts owed to director 300,000 300,000

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

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 1.00 each 10,000 10,000

9. Financial commitments

Commitments

Capital commitments are as follows:

2024 2023
£ £
Contracted for but not provided for:
Finance leases entered into 2,281,250 2,406,250

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, relating to a 25 year lease with annual payments of £125,000.

10. Ultimate controlling party

Parent Company:

Maunder & Sons (Holdings) Ltd
C/O Maunders And Sons (The Farmers' Stores), Scarne Industrial Estate, Launceston, United Kingdom, PL15 9HS