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REGISTERED NUMBER: 01395495 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

J M NEWLING & SON LIMITED

J M NEWLING & SON LIMITED (REGISTERED NUMBER: 01395495)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J M NEWLING & SON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: D H Newling
Mrs V S Newling
M P J Newling





SECRETARY: Mrs V S Newling





REGISTERED OFFICE: Silverwood Farm
Four Gotes
Tydd
Wisbech
Cambridgeshire
PE13 5PH





REGISTERED NUMBER: 01395495 (England and Wales)





ACCOUNTANTS: Wheelers
Chartered Accountants & Tax Consultants
27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE

J M NEWLING & SON LIMITED (REGISTERED NUMBER: 01395495)

BALANCE SHEET
31 OCTOBER 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,382,464 1,033,106
Investments 6 27 27
1,382,491 1,033,133

CURRENT ASSETS
Stocks 360,292 341,507
Debtors 7 216,936 296,628
Cash at bank 402,535 331,399
979,763 969,534
CREDITORS
Amounts falling due within one year 8 654,027 510,287
NET CURRENT ASSETS 325,736 459,247
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,708,227

1,492,380

CREDITORS
Amounts falling due after more than one
year

9

(522,491

)

(537,991

)

PROVISIONS FOR LIABILITIES (199,285 ) (109,700 )
NET ASSETS 986,451 844,689

CAPITAL AND RESERVES
Called up share capital 224,222 229,027
Retained earnings 762,229 615,662
SHAREHOLDERS' FUNDS 986,451 844,689

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 M NEWLING & SON LIMITED (REGISTERED NUMBER: 01395495)

BALANCE SHEET - 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 8 July 2025 and were signed on its behalf by:





D H Newling - Director


J M NEWLING & SON LIMITED (REGISTERED NUMBER: 01395495)

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

1. STATUTORY INFORMATION

J M Newling & Son Limited 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.

The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Intangible fixed assets
Sugar beet quota and single farm payment entitlement are amortised over their estimated useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided
Leasehold improvements - 10% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

The directors consider that freehold properties are maintained in such a state of repair that their residual value is at least equal to their net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the income statement. The directors perform annual impairment reviews to ensure that the recoverable amount is not lower than the carrying value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving 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 balance sheet date.


J M NEWLING & SON LIMITED (REGISTERED NUMBER: 01395495)

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 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 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 small self administered pension scheme. Contributions payable for the year are charged in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2023
and 31 October 2024 7,365
AMORTISATION
At 1 November 2023
and 31 October 2024 7,365
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

J M NEWLING & SON LIMITED (REGISTERED NUMBER: 01395495)

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

5. TANGIBLE FIXED ASSETS
Freehold Leasehold Plant and
property improvements machinery
£    £    £   
COST
At 1 November 2023 567,013 420,974 1,357,854
Additions - - 503,126
Disposals - - (266,500 )
At 31 October 2024 567,013 420,974 1,594,480
DEPRECIATION
At 1 November 2023 - 262,420 1,067,799
Charge for year - 15,855 116,326
Eliminated on disposal - - (252,812 )
At 31 October 2024 - 278,275 931,313
NET BOOK VALUE
At 31 October 2024 567,013 142,699 663,167
At 31 October 2023 567,013 158,554 290,055

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 November 2023 8,644 59,000 2,413,485
Additions - - 503,126
Disposals - (27,000 ) (293,500 )
At 31 October 2024 8,644 32,000 2,623,111
DEPRECIATION
At 1 November 2023 6,837 43,323 1,380,379
Charge for year 452 2,742 135,375
Eliminated on disposal - (22,295 ) (275,107 )
At 31 October 2024 7,289 23,770 1,240,647
NET BOOK VALUE
At 31 October 2024 1,355 8,230 1,382,464
At 31 October 2023 1,807 15,677 1,033,106

Included in cost of land and buildings is freehold land of £ 567,013 (2023 - £ 567,013 ) which is not depreciated.

J M NEWLING & SON LIMITED (REGISTERED NUMBER: 01395495)

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:
Plant and
machinery
£   
COST
At 1 November 2023 157,850
Additions 320,000
At 31 October 2024 477,850
DEPRECIATION
At 1 November 2023 52,917
Charge for year 46,233
At 31 October 2024 99,150
NET BOOK VALUE
At 31 October 2024 378,700
At 31 October 2023 104,933

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 November 2023
and 31 October 2024 27
NET BOOK VALUE
At 31 October 2024 27
At 31 October 2023 27

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 137,777 108,708
Other debtors 79,159 187,920
216,936 296,628

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts 51,245 27,286
Trade creditors 109,748 158,747
Taxation and social security 599 49,584
Other creditors 492,435 274,670
654,027 510,287

J M NEWLING & SON LIMITED (REGISTERED NUMBER: 01395495)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts 80,987 48,740
Other creditors 441,504 489,251
522,491 537,991

10. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Hire purchase contracts 132,232 76,026

11. PREFERENCE SHARES

Allotted, issued and fully paid 31.10.24 31.10.23
£ £

400,000 4% redeemable cumulative preference shares of £1 each 222,222 227,027
As at 31 October 2024 222,222 227,027

The 4% redeemable cumulative preference shares are classified as compound financial instruments, which have the characteristics of both debt and equity and may be redeemed at the option of the company at par.

The debt element is the net present value of the liability relating to the future dividend stream and redemption and has been calculated using an equivalent rate of 9%, being the directors estimate of the cost of capital.

Debt Equity
Element Element Total

4% redeemable cumulative preference shares 177,778 222,222 400,000
As at 31 October 2024 177,778 222,222 400,000