IRIS Accounts Production v25.1.4.42 05083072 Board of Directors Board of Directors 1.11.23 31.10.24 31.10.24 false true false false false true false 30343 24698 21392 37458 30586 31813 21149 30343 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh050830722023-10-31050830722024-10-31050830722023-11-012024-10-31050830722022-10-31050830722022-11-012023-10-31050830722023-10-3105083072ns15:EnglandWales2023-11-012024-10-3105083072ns14:PoundSterling2023-11-012024-10-3105083072ns10:Director12023-11-012024-10-3105083072ns10:Director22023-11-012024-10-3105083072ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3105083072ns10:SmallEntities2023-11-012024-10-3105083072ns10:AuditExemptWithAccountantsReport2023-11-012024-10-3105083072ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3105083072ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3105083072ns10:FullAccounts2023-11-012024-10-310508307212023-11-012024-10-3105083072ns10:Director2422023-10-3105083072ns10:Director2422022-10-3105083072ns10:Director2422023-11-012024-10-3105083072ns10:Director2422022-11-012023-10-3105083072ns10:Director2422024-10-3105083072ns10:Director2422023-10-3105083072ns10:CompanySecretary12023-11-012024-10-3105083072ns10:RegisteredOffice2023-11-012024-10-3105083072ns5:CurrentFinancialInstruments2024-10-3105083072ns5:CurrentFinancialInstruments2023-10-3105083072ns5:Non-currentFinancialInstruments2024-10-3105083072ns5:Non-currentFinancialInstruments2023-10-3105083072ns5:ShareCapital2024-10-3105083072ns5:ShareCapital2023-10-3105083072ns5:RetainedEarningsAccumulatedLosses2024-10-3105083072ns5:RetainedEarningsAccumulatedLosses2023-10-3105083072ns5:NetGoodwill2023-11-012024-10-3105083072ns5:IntangibleAssetsOtherThanGoodwill2023-11-012024-10-3105083072ns5:LeaseholdImprovements2023-11-012024-10-3105083072ns5:PlantMachinery2023-11-012024-10-3105083072ns5:FurnitureFittings2023-11-012024-10-3105083072ns5:MotorVehicles2023-11-012024-10-3105083072ns5:ComputerEquipment2023-11-012024-10-3105083072ns5:NetGoodwill2023-10-3105083072ns5:NetGoodwill2024-10-3105083072ns5:NetGoodwill2023-10-3105083072ns5:LeaseholdImprovements2023-10-3105083072ns5:PlantMachinery2023-10-3105083072ns5:FurnitureFittings2023-10-3105083072ns5:LeaseholdImprovements2024-10-3105083072ns5:PlantMachinery2024-10-3105083072ns5:FurnitureFittings2024-10-3105083072ns5:LeaseholdImprovements2023-10-3105083072ns5:PlantMachinery2023-10-3105083072ns5:FurnitureFittings2023-10-3105083072ns5:MotorVehicles2023-10-3105083072ns5:ComputerEquipment2023-10-3105083072ns5:MotorVehicles2024-10-3105083072ns5:ComputerEquipment2024-10-3105083072ns5:MotorVehicles2023-10-3105083072ns5:ComputerEquipment2023-10-3105083072ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-10-3105083072ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-10-3105083072ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-10-3105083072ns5:LeasedAssetsHeldAsLessee2023-10-3105083072ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-11-012024-10-3105083072ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-11-012024-10-3105083072ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-11-012024-10-3105083072ns5:LeasedAssetsHeldAsLessee2023-11-012024-10-3105083072ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-10-3105083072ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2024-10-3105083072ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-10-3105083072ns5:LeasedAssetsHeldAsLessee2024-10-3105083072ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-10-3105083072ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-10-3105083072ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-10-3105083072ns5:LeasedAssetsHeldAsLessee2023-10-3105083072ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-3105083072ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-3105083072ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-10-3105083072ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-10-3105083072ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-10-3105083072ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-10-3105083072ns5:Secured2024-10-3105083072ns5:Secured2023-10-31050830721ns10:Director12023-10-31050830721ns10:Director12022-10-31050830721ns10:Director12023-11-012024-10-31050830721ns10:Director12022-11-012023-10-31050830721ns10:Director12024-10-31050830721ns10:Director12023-10-31
REGISTERED NUMBER: 05083072 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 OCTOBER 2024

FOR

JOHN SHARP & SON LTD

JOHN SHARP & SON LTD (REGISTERED NUMBER: 05083072)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Chartered Certified Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


JOHN SHARP & SON LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: A G Sharp
Mrs A S M Sharp





SECRETARY: A G Sharp





REGISTERED OFFICE: Abbey House
51 High Street
Saffron Walden
Essex
CB10 1AF





REGISTERED NUMBER: 05083072 (England and Wales)





ACCOUNTANTS: Bentens
Chartered Certified Accountants
Abbey House
51 High Street
Saffron Walden
Essex
CB10 1AF

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
JOHN SHARP & SON LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of John Sharp & Son Ltd for the year ended 31 October 2024 which comprise the Income Statement, Statement of Financial Position 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of John Sharp & Son Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of John Sharp & Son Ltd and state those matters that we have agreed to state to the Board of Directors of John Sharp & Son Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that John Sharp & Son Ltd 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 profit of John Sharp & Son Ltd. You consider that John Sharp & Son Ltd 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 John Sharp & Son Ltd. 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.






Bentens
Chartered Certified Accountants
Abbey House
51 High Street
Saffron Walden
Essex
CB10 1AF


16 June 2025

JOHN SHARP & SON LTD (REGISTERED NUMBER: 05083072)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,500 5,000
Tangible assets 5 307,845 309,123
310,345 314,123

CURRENT ASSETS
Stocks 6 334,777 373,090
Debtors 7 167,275 121,629
502,052 494,719
CREDITORS
Amounts falling due within one year 8 532,609 504,389
NET CURRENT LIABILITIES (30,557 ) (9,670 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

279,788

304,453

CREDITORS
Amounts falling due after more than one
year

9

(211,531

)

(207,676

)

PROVISIONS FOR LIABILITIES (35,076 ) (56,099 )
NET ASSETS 33,181 40,678

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 32,181 39,678
SHAREHOLDERS' FUNDS 33,181 40,678

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.

JOHN SHARP & SON LTD (REGISTERED NUMBER: 05083072)

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 16 June 2025 and were signed on its behalf by:




A G Sharp - Director



Mrs A S M Sharp - Director


JOHN SHARP & SON LTD (REGISTERED NUMBER: 05083072)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

John Sharp & Son 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.

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.

Turnover
Turnover comprises the value of goods and services supplied by the company, net of Value Added Tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Grain processing unit - 10% reducing balance
General implements - 10% reducing balance
Tractors - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Office equipment - 15% on reducing balance

Valuation
The valuation has been prepared by the directors at the lower of cost and net realisable value and includes a relevant proportion of overheads.

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.


JOHN SHARP & SON LTD (REGISTERED NUMBER: 05083072)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 50,000
AMORTISATION
At 1 November 2023 45,000
Amortisation for year 2,500
At 31 October 2024 47,500
NET BOOK VALUE
At 31 October 2024 2,500
At 31 October 2023 5,000

JOHN SHARP & SON LTD (REGISTERED NUMBER: 05083072)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

5. TANGIBLE FIXED ASSETS
Grain
processing General
unit implements Tractors
£    £    £   
COST
At 1 November 2023 92,000 301,261 191,442
Additions - 99,056 -
Disposals - (75,470 ) (102,192 )
At 31 October 2024 92,000 324,847 89,250
DEPRECIATION
At 1 November 2023 78,190 176,783 34,058
Charge for year 881 4,841 4,229
Eliminated on disposal - (36,113 ) (17,100 )
At 31 October 2024 79,071 145,511 21,187
NET BOOK VALUE
At 31 October 2024 12,929 179,336 68,063
At 31 October 2023 13,810 124,478 157,384

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 November 2023 19,600 11,334 615,637
Additions 37,249 - 136,305
Disposals - - (177,662 )
At 31 October 2024 56,849 11,334 574,280
DEPRECIATION
At 1 November 2023 9,565 7,918 306,514
Charge for year 3,066 117 13,134
Eliminated on disposal - - (53,213 )
At 31 October 2024 12,631 8,035 266,435
NET BOOK VALUE
At 31 October 2024 44,218 3,299 307,845
At 31 October 2023 10,035 3,416 309,123

JOHN SHARP & SON LTD (REGISTERED NUMBER: 05083072)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
General Motor
implements Tractors vehicles Totals
£    £    £    £   
COST
At 1 November 2023 17,999 179,250 19,600 216,849
Additions - - 37,249 37,249
Disposals (17,999 ) (90,000 ) - (107,999 )
At 31 October 2024 - 89,250 56,849 146,099
DEPRECIATION
At 1 November 2023 4,878 34,058 9,565 48,501
Charge for year - 4,229 3,066 7,295
Eliminated on disposal (4,878 ) (17,100 ) - (21,978 )
At 31 October 2024 - 21,187 12,631 33,818
NET BOOK VALUE
At 31 October 2024 - 68,063 44,218 112,281
At 31 October 2023 13,121 145,192 10,035 168,348

6. STOCKS
2024 2023
£    £   
Valuation 334,777 373,090

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 138,391 71,951
Other debtors 7,735 6,800
Directors' current accounts 21,149 30,343
VAT - 12,535
167,275 121,629

JOHN SHARP & SON LTD (REGISTERED NUMBER: 05083072)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 357,419 403,428
Hire purchase contracts 23,744 14,846
Trade creditors 105,510 60,952
Tax 32,171 17,173
VAT 5,535 -
Other creditors 8,230 7,990
532,609 504,389

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 33,901 35,000
Bank loans - 2-5 years 23,755 60,265
Hire purchase contracts 153,875 112,411
211,531 207,676

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 321,114 368,683
Bank loans 93,961 130,010
415,075 498,693

The bank loan and overdraft are secured by a charge over the fixed assets owned by the Company and a personal guarantee of the directors.

JOHN SHARP & SON LTD (REGISTERED NUMBER: 05083072)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
£    £   
A G Sharp and Mrs A S M Sharp
Balance outstanding at start of year 30,343 24,698
Amounts advanced 21,392 37,458
Amounts repaid (30,586 ) (31,813 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 21,149 30,343

Interest is charged to the directors' current account on all amounts owed by the directors at HM Revenue & Customs' official rate.

12. RELATED PARTY DISCLOSURES

During the year dividends totalling £53,950 were paid to Mr A G Sharp and Mrs A S M Sharp directors of the company (2023 Dividends paid £68,700 and £3,800 declared but undrawn).

13. ULTIMATE CONTROLLING PARTY

The controlling party is Mr A G Sharp by virtue of his ownership of 90% of the issued share capital of the company.