John R. Ford and Sons (Shefford) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00915114 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

JOHN R. FORD AND SONS (SHEFFORD) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R W Ford

S J Ford

Mrs B J Ford

SECRETARY:

Mrs B J Ford

REGISTERED OFFICE:

11 Ampthill Road

Shefford

Bedfordshire

SG17 5BE

REGISTERED NUMBER:

00915114 (England and Wales)

ACCOUNTANTS:

TC Group

Baird House

Seebeck Place

Knowlhill

Milton Keynes

Buckinghamshire

MK5 8FR

FIXED ASSETS

Tangible assets

4

218,914

177,685

CURRENT ASSETS

Stocks

5

732,585

587,021

Debtors

6

1,731,042

829,179

Investments

7

-

411,827

Cash at bank and in hand

423,234

804,465

2,886,861

2,632,492

CREDITORS

Amounts falling due within one year

8

840,499

848,244

NET CURRENT ASSETS

2,046,362

1,784,248

TOTAL ASSETS LESS CURRENT LIABILITIES

2,265,276

1,961,933

PROVISIONS FOR LIABILITIES

52,916

42,301

NET ASSETS

2,212,360

1,919,632

CAPITAL AND RESERVES

Called up share capital

10

500,100

Retained earnings

1,712,260

1,419,532

SHAREHOLDERS' FUNDS

2,212,360

1,919,632

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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 July 2025 and were signed on its behalf by:

R W Ford - Director

S J Ford - Director

1.	STATUTORY INFORMATION

John R. Ford and Sons (Shefford) 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.

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.

There were no material departures from that standard.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

25% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Stocks

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

New vehicles are supplied under consignment stock arrangements. The company's policy is not to recognise the vehicles as stock until transfer of title has crystallised, i.e. on the date of adoption, as it is considered that the majority of benefits and risks associated with that of stock do not pass to the company until that point.

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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2023 - 48 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

Totals

£

COST

At 1 November 2023

98,140

559,022

229,055

886,217

Additions

-

51,428

25,952

77,380

Disposals

-

(91,166

)

(12,501

)

(103,667

)

At 31 October 2024

98,140

519,284

242,506

859,930

DEPRECIATION

At 1 November 2023

93,424

430,461

184,647

708,532

Charge for year

554

25,910

6,701

33,165

Eliminated on disposal

-

(88,783

)

(11,898

)

(100,681

)

At 31 October 2024

93,978

367,588

179,450

641,016

NET BOOK VALUE

At 31 October 2024

4,162

151,696

63,056

218,914

At 31 October 2023

4,716

128,561

44,408

177,685

5.

STOCKS

2024

2023

£

Stocks

732,585

587,021

In the opinion of the directors, any difference between the book value and replacement cost of stocks would be immaterial.

As stated, new vehicle consignment stock is not included in the balance sheet until the vehicles have been adopted. The value of unadopted vehicles held does not fluctuate significantly from year to year and amounts to approximately £150,000.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

123,335

142,061

Amounts owed by group undertakings

445,119

303,797

Directors' current accounts

941,283

297,164

Tax

215,212

66,543

Prepayments

6,093

19,614

1,731,042

829,179

7.	CURRENT ASSET INVESTMENTS

2024

2023

£

Listed investments

-

411,827

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

268,249

287,631

Customer deposits

13,400

17,216

Corporation tax

238,462

150,799

Social security and other taxes

42,216

35,370

VAT

99,655

107,467

Directors' current accounts

-

24,248

Accrued expenses

178,517

225,513

840,499

848,244

9.	SECURED DEBTS

Included in trade creditors is £38,039 (2023 £43,565) owed to Conoco Phillips Ltd which is secured against freehold property owned by the holding company John R.Ford & Sons Limited.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

500,100

Ordinary

£1

500,100

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023:

2024

2023

£

S J Ford

Balance outstanding at start of year

297,164

-

Amounts advanced

1,077

297,164

Amounts repaid

(100,000

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

198,241

297,164

R W Ford

Balance outstanding at start of year

(24,248

)

-

Amounts advanced

767,290

-

Amounts repaid

-

(24,248

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

743,042

(24,248

)

Directors loans are interest free and repayable on demand.

12.	RELATED PARTY DISCLOSURES

During the year there were the following transactions with the holding company, John R.Ford & Sons Limited as follows:

Management charges from the holding company £27,738 (2023 £27,786)

Rent charged by the holding company £98,500 (2023 £98,500)

Management charges to the holding company £45,000 (2023 - £45,000)

The balance receivable from the holding company, John R.Ford & Sons Ltd, at the year end was £445,119 (2023 - £303,797).

13.	ULTIMATE CONTROLLING PARTY

The majority shareholding of the parent company is held in trusts of which R W Ford and S J Ford are the trustees.