Company No: 05661864 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	4	164,229		154,956
Biological assets	5	177,969		143,830
		342,198		298,786
Current assets
Stocks		417,190		412,366
Debtors	6	171,414		116,607
Cash at bank and in hand		547,488		686,227
		1,136,092		1,215,200
Creditors: amounts falling due within one year	7	( 460,298)		( 529,325)
Net current assets		675,794		685,875
Total assets less current liabilities		1,017,992		984,661
Provision for liabilities		( 13,788)		( 38,739)
Net assets		1,004,204		945,922
Capital and reserves
Called-up share capital	8	1,000		1,000
Profit and loss account		1,003,204		944,922
Total shareholders' funds		1,004,204		945,922

For the financial year ending 30 September 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of J Curnick & Son Ltd (registered number: 05661864) were approved and authorised for issue by the Board of Directors on 30 September 2025. They were signed on its behalf by:

Mr J R Curnick Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

J Curnick & Son Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hitchcock House Hilltop Park, Devizes Road, Salisbury, SP3 4UF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Entitlements

5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings	2 % reducing balance
Plant and machinery	15 % reducing balance
Vehicles	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Biological assets

The Company owned and a dairy herd. In accordance with FRS102, these are defined as biological assets.

Biological assets are recognised only when the entity has control of the asset as a result of past events, it is probable that future economic benefits associated with the asset will flow to the entity; and the fair value or cost of the asset can be measured reliably.

Where the Company measures a biological asset under the fair value model on initial recognition, it must carry the asset at fair value at each reporting date. Changes in fair value less costs to sell are recognised in profit or loss.

The Company measures biological assets at cost less accumulated depreciation and accumulated impairment losses as follows:

Cattle - 10% straight line basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Intangible assets

	Entitlements		Total
	£		£
Cost
At 01 October 2023	45,100		45,100
At 30 September 2024	45,100		45,100
Accumulated amortisation
At 01 October 2023	45,100		45,100
At 30 September 2024	45,100		45,100
Net book value
At 30 September 2024	0		0
At 30 September 2023	0		0

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Total
	£		£		£		£
Cost
At 01 October 2023	46,620		187,786		29,098		263,504
Additions	0		31,919		0		31,919
At 30 September 2024	46,620		219,705		29,098		295,423
Accumulated depreciation
At 01 October 2023	1,846		84,508		22,194		108,548
Charge for the financial year	932		19,988		1,726		22,646
At 30 September 2024	2,778		104,496		23,920		131,194
Net book value
At 30 September 2024	43,842		115,209		5,178		164,229
At 30 September 2023	44,774		103,278		6,904		154,956

5. Biological assets

	2024
	£
Biological assets at cost	177,969

Assets held at cost:

	Dairy		Total
	£		£
Cost
At 01 October 2023	206,396		206,396
Increase due to purchases/ transfers in	62,100		62,100
Decrease attributable to sales/ transfers out	( 63,956)		( 63,956)
At 30 September 2024	204,540		204,540
Accumulated depreciation
At 01 October 2023	62,566		62,566
Charge for the financial year	6,221		6,221
Decrease attributable to sales/ transfers out	( 42,216)		( 42,216)
At 30 September 2024	26,571		26,571
Net book value
At 30 September 2024	177,969		177,969
At 30 September 2023	143,830		143,830

6. Debtors

	2024		2023
	£		£
Trade debtors	123,548		28,471
Prepayments and accrued income	10,796		43,939
VAT recoverable	34,065		41,192
Other debtors	3,005		3,005
	171,414		116,607

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	81,991		115,454
Amounts owed to directors	285,393		297,982
Accruals	7,615		4,750
Taxation and social security	551		8,792
Other creditors	84,748		102,347
	460,298		529,325

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
510 A ordinary shares of £ 1.00 each	510		510
50 B ordinary shares of £ 1.00 each	50		50
220 C ordinary shares of £ 1.00 each	220		220
220 D ordinary shares of £ 1.00 each	220		220
	1,000		1,000

9. Related party transactions

Other related party transactions

Included within other creditors (other debtors) is a loan owed to an associated company of £64,473 (2023 £82,072). The loan is interest free and is repayable on demand.