F Machin & Sons Limited 31/05/2025 iXBRL

Company registration number: 01342080

F Machin & Sons Limited

Unaudited filleted financial statements

31 May 2025

THE BARKER PARTNERSHIP

Chartered Accountants

Thirsk

F Machin & Sons Limited

Contents

Directors and other information

Accountants report

Balance sheet

Notes to the financial statements

F Machin & Sons Limited

Directors and other information


	Directors	Mrs W E Machin
		W F Machin


	Secretary	Mrs W E Machin


	Company number	01342080


	Registered office	Low Farm
		Brandsby
		York
		YO61 4RW


	Accountants	The Barker Partnership
		17 Central Buildings
		Market Place
		Thirsk
		North Yorkshire
		YO7 1HD

F Machin & Sons Limited

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of F Machin & Sons Limited

Year ended 31 May 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of F Machin & Sons Limited for the year ended 31 May 2025 which comprise the Balance sheet and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors of F Machin & Sons Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of F Machin & Sons Limited and state those matters that we have agreed to state to the board of directors of F Machin & Sons Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than F Machin & Sons Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that F Machin & Sons Limited 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 F Machin & Sons Limited. You consider that F Machin & Sons Limited 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 F Machin & Sons Limited. 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.

The Barker Partnership

Chartered Accountants

17 Central Buildings

Market Place

Thirsk

North Yorkshire

YO7 1HD

16 September 2025

F Machin & Sons Limited

Balance sheet

31 May 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Fixed assets	5	3,615,948		3,574,681
Investments	6	28,823		28,823
		_______		_______
			3,644,771		3,603,504

Current assets
Stocks		462,417		473,476
Debtors	7	27,354		54,343
Cash at bank and in hand		24,576		17,094
		_______		_______
		514,347		544,913
Creditors: amounts falling due
within one year	8	( 760,687)		( 754,502)
		_______		_______
Net current liabilities			( 246,340)		( 209,589)
			_______		_______
Total assets less current liabilities			3,398,431		3,393,915

Creditors: amounts falling due
after more than one year	9		( 750,000)		( 762,600)

Provisions for liabilities			( 85,101)		( 74,549)

			_______		_______
Net assets			2,563,330		2,556,766
			_______		_______

Capital and reserves
Called up share capital			137		137
Revaluation reserve			2,070,218		2,070,218
Profit and loss account			492,975		486,411
			_______		_______
Shareholders funds			2,563,330		2,556,766
			_______		_______

For the year ending 31 May 2025 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.

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 Profit and loss account has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 16 September 2025 , and are signed on behalf of the board by:

W F Machin

Director

Company registration number: 01342080

F Machin & Sons Limited

Notes to the financial statements

Year ended 31 May 2025

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Low Farm, Brandsby, York, YO61 4RW.

The principal activity of the company continued to be that of farming and livestock procurement and wholesaling.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis.

Tangible assets

fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any fixed assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Freehold property	-	nil
Property improvements	-	3.33 %	straight line
Plant and machinery	-	15 %	reducing balance
Motor vehicles	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2024: 3 ).

5. Fixed assets

	Freehold property	Property Improvements	Plant and machinery	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 June 2024	2,500,000	1,173,956	449,194	21,780	4,144,930
Additions	-	18,002	109,882	-	127,884
Disposals	-	-	( 90,950)	-	( 90,950)
	_______	_______	_______	_______	_______
At 31 May 2025	2,500,000	1,191,958	468,126	21,780	4,181,864
	_______	_______	_______	_______	_______
Depreciation
At 1 June 2024	-	407,072	146,565	16,612	570,249
Charge for the year	-	2,431	48,178	1,292	51,901
Disposals	-	-	( 56,234)	-	( 56,234)
	_______	_______	_______	_______	_______
At 31 May 2025	-	409,503	138,509	17,904	565,916
	_______	_______	_______	_______	_______
Carrying amount
At 31 May 2025	2,500,000	782,455	329,617	3,876	3,615,948
	_______	_______	_______	_______	_______
At 31 May 2024	2,500,000	766,884	302,629	5,168	3,574,681
	_______	_______	_______	_______	_______

The freehold property (which comprises solely freehold land) was revalued as at 31st May 2010 by Stephenson & Son Chartered Surveyors on an existing use open market value basis.

At 31st May 2025 the directors' view is that this valuation is still reasonable.

Fixed assets held at valuation

In respect of fixed assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:


	Freehold property	Total
	£	£
At 31 May 2025
Aggregate cost	429,782	429,782
Aggregate depreciation	-	-
	_______	_______
Carrying amount	429,782	429,782
	_______	_______

At 31 May 2024
Aggregate cost	429,782	429,782
Aggregate depreciation	-	-
	_______	_______
Carrying amount	429,782	429,782
	_______	_______

6. Investments

	Other investments other than loans	Total
	£	£
Cost
At 1 June 2024 and 31 May 2025	28,823	28,823
	_______	_______
Impairment
At 1 June 2024 and 31 May 2025	-	-
	_______	_______
Carrying amount
At 31 May 2025	28,823	28,823
	_______	_______
At 31 May 2024	28,823	28,823
	_______	_______

7. Debtors

	2025	2024
	£	£
Trade debtors	3,733	37,102
Other debtors	23,621	17,241
	_______	_______
	27,354	54,343
	_______	_______

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	56,636	37,077
Corporation tax	-	3,655
Social security and other taxes	1,769	1,367
Other creditors	702,282	712,403
	_______	_______
	760,687	754,502
	_______	_______

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	750,000	762,600
	_______	_______

The bank loans are secured on assets owned by the company and the directors. The loan has a fixed term of 20 years and the final balance is due for repayment in August 2027.

10. Related party transactions

At the year end date an amount of £16,276 (2024: £23,721) was owed to Mrs W Machin in respect of her director's loan account.At the year end date an amount of £651,120 (2024: £685,632) was owed to W Machin in respect of his director's loan account.