Allen G. Meale & Sons Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00864849

Allen G. Meale & Sons Limited

Unaudited financial statements

31 December 2024

Allen G. Meale & Sons Limited

Statement of financial position

31 December 2024

	2024		2023
			(restated)
Note	£	£	£	£

Fixed assets

Tangible assets	6		942,604		1,012,590

Current assets

Stocks		370,872	346,607
Debtors	7	124,281	87,091
Cash at bank and in hand		129,988	181,076
		---------	---------
		625,141	614,774

Creditors: Amounts falling due within one year	8	( 281,997)		( 361,064)
		---------		---------
Net current assets			343,144		253,710
			-----------		-----------
Total assets less current liabilities			1,285,748		1,266,300

Creditors: Amounts falling due after more than one year	9		( 1,573)		( 41,383)

Provisions

Taxation including deferred tax	( 112,107)	( 127,697)
	-----------	-----------
Net assets	1,172,068	1,097,220
	-----------	-----------

Capital and reserves

Called up share capital	400	400
Profit and loss account	1,171,668	1,096,820
	-----------	-----------
Shareholders funds	1,172,068	1,097,220
	-----------	-----------

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 income statement has not been delivered.

For the year ending 31 December 2024 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 .

Allen G. Meale & Sons Limited

Statement of financial position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 22 February 2025 , and are signed on behalf of the board by:

Mr A E Meale	Mr N S Meale
Director	Director

Mr S D Meale
Director

Company registration number: 00864849

Allen G. Meale & Sons 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 Wayford Nurseries, Wayford, Stalham, Norfolk, NR12 9LJ.

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, 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.

Revenue recognition

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 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.

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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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 land and buildings	-	Not depreciated/ 4% straight line
Agricultural buildings and works	-	10% reducing balance
Plant and machinery	-	20% reducing balance
Furniture and equipment	-	25% straight line
Motor vehicles	-	25% reducing balance

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.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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. 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 as a finance cost in profit or loss in the period it arises.

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Average number of employees

The average number of employees during the year was 57 (2023: 52 ).

5. Tax on profit/(loss)

Major components of tax expense

	2024	2023
		(restated)
	£	£

Current tax:

UK current tax expense	30,887	1,404

Deferred tax:

Origination and reversal of timing differences	( 15,590)	697
	-------	------
Tax on profit/(loss)	15,297	2,101
	-------	------

6. Tangible assets

	Freehold property	Agricultural buildings and works	Plant and machinery	Furniture and equipment	Motor vehicles	Total
	£	£	£	£	£	£
Cost
At 1 Jan 2024 (as restated)	634,378	811,824	1,384,309	300,687	199,109	3,330,307
Additions	11,902	–	18,799	7,514	–	38,215
Disposals	–	–	( 41,600)	–	( 19,307)	( 60,907)
	---------	---------	-----------	---------	---------	-----------
At 31 Dec 2024	646,280	811,824	1,361,508	308,201	179,802	3,307,615
	---------	---------	-----------	---------	---------	-----------
Depreciation
At 1 Jan 2024	122,237	635,702	1,143,483	288,947	127,347	2,317,716
Charge for the year	15,917	17,612	50,523	5,268	17,754	107,074
Disposals	–	–	( 41,219)	–	( 18,560)	( 59,779)
	---------	---------	-----------	---------	---------	-----------
At 31 Dec 2024	138,154	653,314	1,152,787	294,215	126,541	2,365,011
	---------	---------	-----------	---------	---------	-----------
Carrying amount
At 31 Dec 2024	508,126	158,510	208,721	13,986	53,261	942,604
	---------	---------	-----------	---------	---------	-----------
At 31 Dec 2023	512,141	176,122	240,826	11,740	71,762	1,012,591
	---------	---------	-----------	---------	---------	-----------

Included within Land and Buildings is non-depreciable land at a cost of £177,340 (2023:£177,340)

7. Debtors

	2024	2023
		(restated)
	£	£
Trade debtors	22,033	20,774
Other debtors	102,248	66,317
	---------	-------
	124,281	87,091
	---------	-------

8. Creditors: Amounts falling due within one year

	2024	2023
		(restated)
	£	£
Bank loans and overdrafts	44,048	48,985
Trade creditors	183,446	241,308
Social security and other taxes	44,493	27,501
Other creditors	10,010	43,270
	---------	---------
	281,997	361,064
	---------	---------

The bank loans are secured by the company on a fixed and floating charge over the company's assets.

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

	2024	2023
		(restated)
	£	£
Bank loans and overdrafts	–	41,383
Other creditors	1,573	–
	------	-------
	1,573	41,383
	------	-------

The bank loans are secured by the company on a fixed and floating charge over the company's assets.

10. Operating leases

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

	2024	2023
		(restated)
	£	£
Not later than 1 year	3,750	3,750
	------	------

11. Directors' advances, credits and guarantees

At the year end the directors owed the company £2,346 (2023: The company owed the directors £10,841). The maximum overdrawn balance during the year was £2,346 (2023: £1,659). The loan is provided on interest free terms and repayable on demand.

12. Controlling interest

No individual shareholder can control the company.