REGISTERED NUMBER: |
J. MARSLAND & SONS LIMITED |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 JANUARY 2024 TO 30 SEPTEMBER 2024 |
REGISTERED NUMBER: |
J. MARSLAND & SONS LIMITED |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 JANUARY 2024 TO 30 SEPTEMBER 2024 |
J. MARSLAND & SONS LIMITED (REGISTERED NUMBER: 00147129) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2024 TO 30 SEPTEMBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
J. MARSLAND & SONS LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 JANUARY 2024 TO 30 SEPTEMBER 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditors |
Tattersall House |
East Parade |
Harrogate |
North Yorkshire |
HG1 5LT |
J. MARSLAND & SONS LIMITED (REGISTERED NUMBER: 00147129) |
BALANCE SHEET |
30 SEPTEMBER 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
J. MARSLAND & SONS LIMITED (REGISTERED NUMBER: 00147129) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2024 TO 30 SEPTEMBER 2024 |
1. | STATUTORY INFORMATION |
J. Marsland & Sons Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The financial statements cover a period of nine months. The change in year end was made in order to bring the end of the reporting period in line with the parent company. This means that comparative amounts in the financial statements (including the related notes) are not entirely comparable. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Subsequent to the year end, the trade and assets of the company were hived up into the parent company and holding company. As the company has ceased to trade, the directors consider it no longer appropriate to prepare the financial statements on a going concern basis given these circumstances. |
The financial statements depart from accounting standards and Companies Act 2006 to the extent necessary to give a true and fair view. The details of each matter, including a description of the departure from accounting standards, its nature, and why it was considered necessary are given as part of the relevant accounting policy or disclosure note. No material adjustments arose as a result of the change in basis. |
The directors have concluded that the financial statements give a true and fair view of the company's financial position and financial performance. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
J. MARSLAND & SONS LIMITED (REGISTERED NUMBER: 00147129) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2024 TO 30 SEPTEMBER 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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. |
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. |
Government grants |
The company recognises HGV grant income into profit and loss on a five year straight line basis. |
Financial instruments |
Bank loans are measured at amortised cost using the effective interest rate. |
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. |
Fixed asset investments |
Fixed asset investments are stated at historical cost less provision for any diminution in value. |
Creditors |
Short term creditors are measured at the transaction price. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
J. MARSLAND & SONS LIMITED (REGISTERED NUMBER: 00147129) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2024 TO 30 SEPTEMBER 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 January 2024 |
Additions |
Disposals |
At 30 September 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for period |
Eliminated on disposal |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 31 December 2023 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2024 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 September 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 31 December 2023 |
The net book value of tangible fixed assets includes £ 17,780 (2023 - £ 19,662 ) in respect of assets held under hire purchase contracts. |
J. MARSLAND & SONS LIMITED (REGISTERED NUMBER: 00147129) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2024 TO 30 SEPTEMBER 2024 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 January 2024 |
and 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 31 December 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 9) |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
Directors' current accounts | - | 15,000 |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 2-5 years |
Bank loans more than five years by instalments |
Hire purchase contracts (see note 9) |
J. MARSLAND & SONS LIMITED (REGISTERED NUMBER: 00147129) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2024 TO 30 SEPTEMBER 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2024 | 2023 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more than five years by instalments |
210,485 |
257,741 |
9. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts | 3,373 | 13,334 |
The bank loans were secured by a legal charge over the property and a debenture over all assets of the company. These charges were satisfied after the year end. |
The hire purchase contracts are secured on the assets concerned. |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary shares | £1 | 27,969 | 27,969 |
J. MARSLAND & SONS LIMITED (REGISTERED NUMBER: 00147129) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2024 TO 30 SEPTEMBER 2024 |
12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was qualified on the following basis: |
Basis for qualified opinion |
As the prior year accounts were unaudited we were unable to satisfy ourselves concerning the stock quantities and valuation of the stock as at 1 January 2024. The opening stock per the balance sheet was £446,779 and we were unable to determine if any adjustment to this amount was necessary |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our | responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial | statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant | to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical | responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and | appropriate to provide a basis for our opinion. |
for and on behalf of |
13. | POST BALANCE SHEET EVENTS |
Subsequent to the year end, the trade and assets of the company were hived up into the parent company and holding company. |
14. | ULTIMATE CONTROLLING PARTY AND PARENT COMPANY |
The controlling party is Mr J P Broadwith. |
The company's parent company is G H Brooks & Co (Harrogate) Limited, a limited company incorporated in England and Wales with a registered office of Hartwith House, Claro Road, Harrogate, North Yorkshire, HG1 4DS. |
The parent of the smallest group for which consolidated financial statements are drawn up of which the company is a member is G H Brooks & Co (Holdings) Limited with a registered office of Hartwith House, Claro Road, Harrogate, North Yorkshire, HG1 4DS. |
The company's ultimate parent company is G H Brooks & Co (Holdings)Limited |