Company No:
Contents
| Directors | C J D Atkins |
| D M Atkins (Appointed 20 December 2024) | |
| J M Atkins | |
| S E Atkins | |
| S J Sait (Appointed 20 December 2024) |
| Secretary | C J D Atkins |
| Registered office | 37 St Margarets Street |
| Canterbury | |
| Kent | |
| CT1 2TU | |
| United Kingdom |
| Company number | 00466774 (England and Wales) |
| Accountant | Kreston Reeves LLP |
| 37 St Margaret's Street | |
| Canterbury | |
| CT1 2TU | |
| United Kingdom |
| Note | 31.08.2024 | 05.04.2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 4 |
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| Investment property | 5 |
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| Investments | 6 |
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| 6,861,086 | 6,884,263 | |||
| Current assets | ||||
| Stocks | 7 |
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| Debtors | 8 |
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| Cash at bank and in hand | 9 |
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| 508,141 | 554,727 | |||
| Creditors: amounts falling due within one year | 10 | (
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| Net current liabilities | (1,425,585) | (1,226,121) | ||
| Total assets less current liabilities | 5,435,501 | 5,658,142 | ||
| Creditors: amounts falling due after more than one year | 11 | (
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| Provision for liabilities | 12 | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 13 |
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| Share premium account |
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| Revaluation reserve |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of C.E.Murch Limited (registered number:
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C J D Atkins
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.
C.E.Murch 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 37 St Margarets Street, Canterbury, Kent, CT1 2TU, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
The accounting period has been extended from 5 April 2024 to 31 August 2024, a 17 month period. The directors concluded that an August year end would work better with cropping years.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
| Goodwill |
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| Entitlements |
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| Land and buildings |
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| Other property, plant and equipment | 10 -
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.
Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
The fair value is determined annually by the directors, on an open market value for existing use basis.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
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, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
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.
| 17 month period to 31.08.2024 |
Year ended 05.04.2023 |
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| Number | Number | ||
| Monthly average number of persons employed by the Company during the period, including directors |
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| Goodwill | Entitlements | Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 06 April 2023 |
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| At 31 August 2024 |
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| Accumulated amortisation | |||||
| At 06 April 2023 |
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| At 31 August 2024 |
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| Net book value | |||||
| At 31 August 2024 |
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| At 05 April 2023 |
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| Land and buildings | Other property, plant and equipment |
Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 06 April 2023 |
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| Additions |
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| At 31 August 2024 |
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| Accumulated depreciation | |||||
| At 06 April 2023 |
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| Charge for the financial period |
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| At 31 August 2024 |
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| Net book value | |||||
| At 31 August 2024 | 4,862,462 | 1,070,624 | 5,933,086 | ||
| At 05 April 2023 | 4,877,250 | 1,079,013 | 5,956,263 |
Freehold £4,862,462 (2023: £4,877,250)
Revaluation of tangible assets
| 31.08.2024 | 05.04.2023 | ||
| £ | £ | ||
| Historical cost | 1,135,172 | 1,135,172 | |
| Accumulated depreciation | (241,071) | (224,184) | |
| Carrying value |
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At 31 August 2024 the valuation of land and buildings totalling £4,941,915 comprises an historic cost element of £1,135,172 and a revaluation element of £3,806,743.
| Investment property | |
| £ | |
| Valuation | |
| As at 06 April 2023 |
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| As at 31 August 2024 |
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The 2024 valuations were made by the directors, on an open market value for existing use basis.
At 31 August 2024 the valuation of investment properties totalling £925,000 comprises an historic cost element of £320,028 and a revaluation element of £604,972.
Investments in subsidiaries
| 31.08.2024 | |
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| Cost | |
| At 06 April 2023 |
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| At 31 August 2024 |
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| Carrying value at 31 August 2024 |
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| Carrying value at 05 April 2023 |
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| Investments in associates | Other investments | Total | |||
| £ | £ | £ | |||
| Cost or valuation before impairment | |||||
| At 06 April 2023 |
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| At 31 August 2024 |
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| Carrying value at 31 August 2024 |
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| Carrying value at 05 April 2023 |
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| 31.08.2024 | 05.04.2023 | ||
| £ | £ | ||
| Stocks |
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| Crops |
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| 31.08.2024 | 05.04.2023 | ||
| £ | £ | ||
| Trade debtors |
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| Amounts owed by associates |
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| Corporation tax |
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| Other debtors |
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| 31.08.2024 | 05.04.2023 | ||
| £ | £ | ||
| Cash at bank and in hand |
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| Less: Bank overdrafts | (
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| (613,925) | (414,892) |
| 31.08.2024 | 05.04.2023 | ||
| £ | £ | ||
| Bank loans and overdrafts (secured) |
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| Trade creditors |
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| Amounts owed to own subsidiaries |
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| Other taxation and social security |
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| Obligations under finance leases and hire purchase contracts |
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| Other creditors |
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| 31.08.2024 | 05.04.2023 | ||
| £ | £ | ||
| Bank loans (secured) |
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| Obligations under finance leases and hire purchase contracts |
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| Other creditors |
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Amounts repayable after more than 5 years are included in creditors falling due over one year:
| 31.08.2024 | 05.04.2023 | ||
| £ | £ | ||
| Bank loans (secured / repayable by instalments) |
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| 31.08.2024 | 05.04.2023 | ||
| £ | £ | ||
| At the beginning of financial period/year | (
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| Credited to the Statement of Income and Retained Earnings |
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| At the end of financial period/year | (
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The deferred taxation balance is made up as follows:
| 31.08.2024 | 05.04.2023 | ||
| £ | £ | ||
| Revaluation of tangible assets | (
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| Revaluation of investment property | (
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| Tax losses carry forward |
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| 31.08.2024 | 05.04.2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Pensions
The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.