REGISTERED NUMBER: 00720517 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

BROWN'S AGRICULTURAL MACHINERY COMPANY

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr A P Brown

Mr J W G Brown

SECRETARY:

Mr A P Brown

REGISTERED OFFICE:

Unit 5b Ridgeway Court

Grovebury Road

Leighton Buzzard

Beds

LU7 4SF

REGISTERED NUMBER:

00720517 (England and Wales)

AUDITORS:

FKCA Limited

Statutory Auditor

260 - 270 Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

FIXED ASSETS

Tangible assets

4

31,085

37,726

CURRENT ASSETS

Stocks

5

352,548

531,175

Debtors

6

208,301

387,099

Cash at bank and in hand

323,212

121,158

884,061

1,039,432

CREDITORS

Amounts falling due within one year

7

799,632

588,978

NET CURRENT ASSETS

84,429

450,454

TOTAL ASSETS LESS CURRENT LIABILITIES

115,514

488,180

CAPITAL AND RESERVES

Called up share capital

8

3,000

3,000

Retained earnings

112,514

485,180

SHAREHOLDERS' FUNDS

115,514

488,180

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 19 September 2025 and were signed on its behalf by:

Mr J W G Brown - Director

1.	STATUTORY INFORMATION

Brown's Agricultural Machinery Company 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.

Going concern

During the financial year the directors took the decision to cease trading and wind down the operations of the company as part of a group restructure. As a result, the financial statements have been prepared on a basis other than that of a going concern basis.

The directors have assessed the impact of the decision on the company’s assets and liabilities and have concluded that there is no material impact on the carrying values of the assets or liabilities as at the balance sheet date. Accordingly, no adjustments have been made to the financial statements as a result of the cessation of trading.

The company’s financial obligations are expected to be met in full as they fall due during the wind-down process.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off the cost less estimates residual value of each asset over its estimates useful life.

Plant and machinery

-

20% on reducing balance and 10% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Temporary buildings

-

25% on reducing balance

Stocks

Stocks of raw materials are stated at the lower of cost and estimated selling price less costs to complete and sell after making due allowance for obsolete and slow moving items.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the evaluation of finished goods.

Finished goods are valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the evaluation of finished goods.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Temporary

Plant and

and

Buildings

machinery

fittings

£

£

£

COST

At 1 January 2024

41,700

556,631

109,956

Additions

-

-

1,140

At 31 December 2024

41,700

556,631

111,096

DEPRECIATION

At 1 January 2024

40,596

521,873

109,956

Charge for year

221

6,951

143

At 31 December 2024

40,817

528,824

110,099

NET BOOK VALUE

At 31 December 2024

883

27,807

997

At 31 December 2023

1,104

34,758

-

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

7,250

33,404

748,941

Additions

-

-

1,140

At 31 December 2024

7,250

33,404

750,081

DEPRECIATION

At 1 January 2024

5,386

33,404

711,215

Charge for year

466

-

7,781

At 31 December 2024

5,852

33,404

718,996

NET BOOK VALUE

At 31 December 2024

1,398

-

31,085

At 31 December 2023

1,864

-

37,726

5.

STOCKS

2024

2023

£

£

Stocks

352,548

531,175

An impairment loss of £146,344 was recognised in cost of sales against stock during the year (2023: £49,202).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

160,175

365,909

Other debtors

48,126

21,190

208,301

387,099

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

101,129

135,521

Amounts owed to group undertakings

498,686

356,996

Corporation tax

-

29,072

Taxation and social security

17,494

11,297

Accruals and deferred income

182,323

56,092

799,632

588,978

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

3,000

Ordinary

£1

3,000

3,000

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Mason BSc FCA (Senior Statutory Auditor)

for and on behalf of FKCA Limited

10.	RELATED PARTY DISCLOSURES

At the year end, the company had a loan from its parent company of £220,000 (2023 - £220,000). This loan has no fixed date of repayment and is repayable on demand. Annual interest is charged at 0.5%.

Other group trading balances are included within amounts owed to group undertakings within creditors.

11.	POST BALANCE SHEET EVENTS

As mentioned in note 2 to the accounts, the company ceased trading in the second quarter of 2025.

12.	PARENT UNDERTAKING

The immediate and ultimate parent undertaking is George Brown's Implements (Holdings) Limited, the company which prepares the group's consolidated financial statements. Copies of the consolidated financial statements for the Year can be obtained from Unit 5b Ridgeway Court, Grovebury Road, Leighton Buzzard, Bedfordshire, LU7 4SF.