REGISTERED NUMBER: 01467532 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST JANUARY 2025

FOR

J. J. FARM SERVICES LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Directors:

M R Jenkins

Mrs H I Stagg

Registered office:

Far Stanley

Gretton

Winchcombe

Cheltenham

Gloucestershire

GL54 5HF

Registered number:

01467532 (England and Wales)

Fixed assets

Tangible assets

4

5,032,716

5,039,311

Investments

5

-

26,664

Investment property

6

4,611,000

4,611,000

9,643,716

9,676,975

Current assets

Stocks

7

695,808

1,112,932

Debtors

8

319,276

359,419

Cash in hand

238

2,151

1,015,322

1,474,502

Creditors

Amounts falling due within one year

9

1,868,957

2,237,906

Net current liabilities

(853,635

)

(763,404

)

Total assets less current liabilities

8,790,081

8,913,571

Creditors

Amounts falling due after more than one year

10

(3,378,546

)

(3,493,818

)

Provisions for liabilities

11

(912,100

)

(927,400

)

Net assets

4,499,435

4,492,353

Capital and reserves

Called up share capital

12

1,000

1,000

Revaluation reserve

1,559,143

1,559,143

Non-distributable profits

reserve

1,992,499

1,992,499

Retained earnings

946,793

939,711

Shareholders' funds

4,499,435

4,492,353

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2025 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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th October 2025 and were signed on its behalf by:

M R Jenkins - Director

1.	Statutory information

J. J. Farm Services 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 as modified by the revaluation of certain assets.

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

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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

Freehold property

Nil

Plant & machinery

20% reducing balance

Motor vehicles

25% reducing balance

Computer equipment

25% reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase & leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs & 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.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all of the risks and rewards of the ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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 group after deducing all of its liabilities.

Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans, loans from fellow group companies and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

Fixed asset investments

Investments are initially recorded at cost.

Investments are subsequently included at its open market value, with changes recorded through the profit and loss account.

3.	Employees (including officers)

The average number of employees during the year was 17 (2024 - 17 ) .

4.	Tangible fixed assets

Freehold

Plant &

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

Cost or valuation

At 1st February 2024

4,180,002

1,858,318

214,165

25,134

6,277,619

Additions

-

335,801

-

425

336,226

Disposals

-

(294,000

)

-

-

(294,000

)

At 31st January 2025

4,180,002

1,900,119

214,165

25,559

6,319,845

Depreciation

At 1st February 2024

-

1,044,416

173,757

20,135

1,238,308

Charge for year

-

204,516

10,104

1,086

215,706

Eliminated on disposal

-

(166,885

)

-

-

(166,885

)

At 31st January 2025

-

1,082,047

183,861

21,221

1,287,129

Net book value

At 31st January 2025

4,180,002

818,072

30,304

4,338

5,032,716

At 31st January 2024

4,180,002

813,902

40,408

4,999

5,039,311

The Directors consider the valuation to be the fair value of the freehold property as at 31st January 2025. No depreciation has therefore been provided in the accounts.

The net book value of tangible fixed assets includes £ 533,585 (2024 - £ 501,029 ) in respect of assets held under hire purchase contracts or finance leases.

5.	Fixed asset investments

Investments (neither listed nor unlisted) were as follows:

31.1.25

31.1.24

£

£

NFU investment

-

26,664

6.	Investment property

Total

£

Fair value

At 1st February 2024

and 31st January 2025

4,611,000

Net book value

At 31st January 2025

4,611,000

At 31st January 2024

4,611,000

The investment properties were professionally valued by Carver Knowles as at 31st January 2021. The Directors consider this to be the fair value of the properties as at 31st January 2025.

7.

Stocks

31.1.25

31.1.24

£

£

Stocks

695,808

1,112,932

8.

Debtors: amounts falling due within one year

31.1.25

31.1.24

£

£

Trade debtors

194,068

240,579

Other debtors

125,208

118,840

319,276

359,419

9.

Creditors: amounts falling due within one year

31.1.25

31.1.24

£

£

Bank loans & overdrafts

842,833

887,944

Trade creditors

454,470

844,178

Taxation & social security

142,952

190,792

Other creditors

428,702

314,992

1,868,957

2,237,906

10.

Creditors: amounts falling due after more than one year

31.1.25

31.1.24

£

£

Bank loans

3,009,428

3,144,459

Amounts owed to related parties

56,000

80,715

Hire purchase

313,118

268,644

3,378,546

3,493,818

11.	Provisions for liabilities

31.1.25

31.1.24

£

£

Deferred tax

912,100

927,400

Deferred tax

£

Balance at 1st February 2024

927,400

Accelerated capital allowances

(14,800

)

Losses

(500

)

Balance at 31st January 2025

912,100

12.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.25

31.1.24

value:

£

£

1,000

Ordinary shares

1

1,000

1,000

13.	Contingent liabilities

There were no contingent liabilities as at 31st January 2025.

14.	Related party disclosures

The directors

During the year, the directors used a current account with the company to record amounts due to them and amounts drawn by them. The balance at the year end was £180,645 (2024 - £17,266) owed by the company.

Loans were made interest free and payable on demand.

Transactions with other related parties

On normal commercial terms, the following transactions with related parties took place during the year.

Loans

Creditor

paid

balance

£

£

Transactions with other related parties

35,000

56,000