Tillers Turf Company Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02336318

Tillers Turf Company Limited

Filleted Financial Statements

For the year ended

31 December 2024

Tillers Turf Company Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		298,339	344,475

Current assets

Stocks		3,576,096	3,514,994
Debtors	6	1,022,158	989,903
Cash at bank and in hand		337,542	541,026
		------------	------------
		4,935,796	5,045,923

Creditors: amounts falling due within one year	7	4,597,166		4,516,028
		------------		------------
Net current assets			338,630	529,895
			---------	---------
Total assets less current liabilities			636,969	874,370

Provisions

Taxation including deferred tax	48,742	55,921
	---------	---------
Net assets	588,227	818,449
	---------	---------

Tillers Turf Company Limited

Statement of Financial Position (continued)

31 December 2024

	2024		2023
Note	£	£	£

Capital and reserves

Called up share capital	144,883	144,883
Share premium account	80,461	80,461
Capital redemption reserve	70,742	70,742
Profit and loss account	292,141	522,363
	---------	---------
Shareholder funds	588,227	818,449
	---------	---------

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 income and retained earnings has not been delivered.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:

S Hutton
Director

Company registration number: 02336318

Tillers Turf Company 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 The Barn, Charity Street, Carlton Scroop, Grantham, Lincolnshire, NG32 3AT. The company's principal trading address is Springwood Farm, Drinsey Nook Lane, Thorney, Newark NG23 7DR.

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.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) are those that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:- Stocks and work in progress Stock and work in progress is measured at the lower of cost and estimated selling price less costs to complete and sell. Depreciation The annual depreciation charge for each class of tangible fixed asset is based on an estimate of the useful economic life of the respective assets. This is reviewed periodically by the directors to ensure that they reflect both the external and internal factors.

Revenue recognition

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on completion of work done, 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.

Income tax

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 material 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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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:

	Plant & Machinery	-	15% - 25% reducing balance, 10% straight line

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 stock to its 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 statement of financial position and the amount of the provision as an expense.

Financial instruments

The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

Research and development

Research expenditure is written off in the period in which it is incurred.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 35 (2023: 32 ).

5. Tangible assets

	Plant and machinery
	£
Cost
At 1 January 2024	921,967
Disposals	( 58,227)
	---------
At 31 December 2024	863,740
	---------
Depreciation
At 1 January 2024	577,492
Charge for the year	41,862
Disposals	( 53,953)
	---------
At 31 December 2024	565,401
	---------
Carrying amount
At 31 December 2024	298,339
	---------
At 31 December 2023	344,475
	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	996,576	807,609
Amounts owed by group undertakings and undertakings in which the company has a participating interest	–	6,920
Other debtors	25,582	175,374
	------------	---------
	1,022,158	989,903
	------------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	269,410	310,093
Amounts owed to group undertakings and undertakings in which the company has a participating interest	3,645,247	3,515,929
Social security and other taxes	223,598	488,537
Other creditors	458,911	201,469
	------------	------------
	4,597,166	4,516,028
	------------	------------

The bank holds a fixed charge over all assets of the company.

8. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	360,168	283,953
Later than 1 year and not later than 5 years	149,446	105,996
	---------	---------
	509,614	389,949
	---------	---------

9. Contingencies

The company has provided a composite company unlimited guarantee in respect of group facilities to the company's bankers.

10. Summary audit opinion

The auditor's report dated 29 September 2025 was unqualified .

The senior statutory auditor was Jonathan Day , for and on behalf of Streets Audit LLP .

11. Related party transactions

The company has taken advantage of the exemptions available under FRS102 relating to the disclosure of related party transactions with other members of the S & F Hutton (Holdings) Limited group.

12. Controlling party

The company is a wholly owned subsidiary of S & F Hutton (Holdings) Limited, a company registered in England and Wales. S & F Hutton (Holdings) Limited prepare group accounts. The address of the registered office is The Barn, Charity Street, Carlton Scroop, Grantham, Lincolnshire, NG32 3AT.