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COMPANY REGISTRATION NUMBER: 00848818
A.W.J.Usher & Sons Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2024
A.W.J.Usher & Sons Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
751,672
1,320,502
Current assets
Stocks
1,100,589
1,188,199
Debtors
6
101,734
14,073
Cash at bank and in hand
830,256
45,195
------------
------------
2,032,579
1,247,467
Creditors: amounts falling due within one year
7
189,577
309,415
------------
------------
Net current assets
1,843,002
938,052
------------
------------
Total assets less current liabilities
2,594,674
2,258,554
Creditors: amounts falling due after more than one year
8
8,007
83,936
Provisions
Deferred taxation
45,669
139,917
------------
------------
Net assets
2,540,998
2,034,701
------------
------------
Capital and reserves
Called up share capital
100
100
Investment revaluation reserve
10
187,061
558,222
Capital redemption reserve
10
4
4
Profit and loss account
10
2,353,833
1,476,375
------------
------------
Shareholders funds
2,540,998
2,034,701
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
A.W.J.Usher & Sons Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 24 July 2025 , and are signed on behalf of the board by:
M A Usher
Director
Company registration number: 00848818
A.W.J.Usher & Sons Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 16 The Crescent, Eaton Socon, St Neots, PE19 8HF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for services rendered, stated net of trade discounts and of value added tax. Work in progress is recognised as turnover when, and to the extent that, the company obtains the right to receive consideration from third parties or from capitalising their own work. Rental income Rental income receivable by the company is included on an accruals basis.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the year end where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, which includes purchase price and any directly attributable expenditure less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Motor vehicles
-
25% reducing balance
Office equipment
-
25% reducing balance
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in the profit and loss for the year. An amount equal to the fair value during the accounting period is transferred from the profit and loss to the investment revaluation reserve and disclosed in the statement of changes in equity.
Stocks
Raw materials, consumables and land for development are stated at the lower of cost and net realisable value. Work in progress Work in progress has been valued at the lower of cost and net realisable value, cost being direct cost plus a proportion of overheads where appropriate.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term.
Defined contribution plans
The company makes contributions to the personal pension schemes of certain employees. The annual contributions payable are recognised as an expense in the period in which the related services are provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Office equipment
Investment property
Total
£
£
£
£
£
Cost
At 1 January 2024
3,278
53,983
2,163
1,293,000
1,352,424
Additions
1,242
1,242
Disposals
( 563,000)
( 563,000)
-------
--------
-------
------------
------------
At 31 December 2024
3,278
53,983
3,405
730,000
790,666
-------
--------
-------
------------
------------
Depreciation
At 1 January 2024
3,015
27,550
1,357
31,922
Charge for the year
137
6,608
327
7,072
-------
--------
-------
------------
------------
At 31 December 2024
3,152
34,158
1,684
38,994
-------
--------
-------
------------
------------
Carrying amount
At 31 December 2024
126
19,825
1,721
730,000
751,672
-------
--------
-------
------------
------------
At 31 December 2023
263
26,433
806
1,293,000
1,320,502
-------
--------
-------
------------
------------
The investment properties are valued annually by the director to fair value. The historical cost of the investment properties are £542,939 (2023: £734,778).
6. Debtors
2024
2023
£
£
Other debtors
101,734
14,073
---------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,122
8,768
Social security and other taxes
163,337
103,967
Other creditors
22,118
196,680
---------
---------
189,577
309,415
---------
---------
Included within other creditors is an amount of £4,178 (2023: £4,178) relating to assets acquired under hire purchase agreements. The hire purchase agreements are secured on the assets concerned.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
71,751
Other creditors
8,007
12,185
-------
--------
8,007
83,936
-------
--------
Included within creditors: amounts falling due after more than one year is an amount of £nil (2023: £71,751) in respect of liabilities payable or repayable otherwise than by instalments which fall due for payment after more than five years from the reporting date. The bank loan is secured on assets of the company.
Included within other creditors is an amount of £8,007 (2023: £12,185) relating to assets acquired under hire purchase agreements. The hire purchase agreements are secured on the assets concerned.
9. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions
45,669
139,917
--------
---------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
5,418
6,876
Fair value adjustment of investment property
40,251
133,041
--------
---------
45,669
139,917
--------
---------
10. Reserves
Investment revaluation reserve - This non-distributable reserve records fair value movements on investment properties recognised in profit and loss. Capital redemption reserve - This reserve records the nominal value of shares repurchased and cancelled by the company. Profit and loss account - This reserve records retained earnings and accumulated losses less amounts transferred to investment revaluation reserve.
11. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
M A Usher
( 71,062)
139,862
( 1,500)
67,300
--------
---------
-------
--------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
M A Usher
( 1,076)
157,014
( 227,000)
( 71,062)
-------
---------
---------
--------
Interest at 2.25% (2023: 2%) was charged to the director's loan account during periods when the loan account was overdrawn. The director's loan is unsecured and repayable on demand.