REGISTERED NUMBER: 00498460 (England and Wales)

NORMON GRUNDY & SON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

N J Grundy

Mrs K M Grundy

J Grundy

REGISTERED OFFICE:

Ash Tree Farm

Randall Bank

Moulton Eaugate

Spalding

Lincolnshire

PE12 0RT

REGISTERED NUMBER:

00498460 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

BANKERS:

National Westminster Bank

Market Place

Spalding

Lincolnshire

PE11 1ST

FIXED ASSETS

Tangible assets

4

6,242,483

4,419,239

Investments

5

2,166,054

3,645,992

Investment property

6

1,440,000

1,440,000

9,848,537

9,505,231

CURRENT ASSETS

Valuation

349,586

436,467

Debtors

7

174,319

121,830

Cash at bank

652,127

737,486

1,176,032

1,295,783

CREDITORS

Amounts falling due within one year

8

199,426

61,276

NET CURRENT ASSETS

976,606

1,234,507

TOTAL ASSETS LESS CURRENT LIABILITIES

10,825,143

10,739,738

CREDITORS

Amounts falling due after more than one year

9

(23,167

)

-

PROVISIONS FOR LIABILITIES

(591,758

)

(614,886

)

NET ASSETS

10,210,218

10,124,852

CAPITAL AND RESERVES

Called up share capital

11

90,775

90,775

Other reserve

12

1,753,305

521,635

Retained earnings

8,366,138

9,512,442

SHAREHOLDERS' FUNDS

10,210,218

10,124,852

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 21 October 2025 and were signed on its behalf by:

N J Grundy - Director

1.	STATUTORY INFORMATION

Normon Grundy & Son 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about Normon Grundy & Son Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents the fair value consideration of net invoiced sales of produce, excluding value added tax, recognised upon despatch.

The Basic Payment Scheme is recognised in the financial statements in accordance with H. M. Revenue & Customs guidance.

Tangible fixed assets

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

Freehold property

-

Nil

Short leasehold

-

10% on reducing balance

Plant and machinery

-

25% on reducing balance

Tangible fixed assets are held at cost less accumulated depreciation. No depreciation has been provided for freehold land and buildings. It is the company's policy to maintain its properties in a continual state of sound repair. In the case of freehold buildings, the directors consider that the lives of these buildings and their residual values are such that their depreciation is not significant.

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.

Stock

As in previous years, stocks have been certified by a qualified valuer at the lower of cost and fair value less costs to complete and sell.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 for the directors, where contributions are made to an external pension scheme to provide for retirement benefits and are charged to the income statement as incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Short

Plant and

property

leasehold

machinery

Totals

£

£

£

£

COST

At 1 July 2024

3,826,249

119,919

1,899,588

5,845,756

Additions

1,886,040

-

186,101

2,072,141

Disposals

-

-

(134,300

)

(134,300

)

At 30 June 2025

5,712,289

119,919

1,951,389

7,783,597

DEPRECIATION

At 1 July 2024

-

117,040

1,309,477

1,426,517

Charge for year

-

288

176,010

176,298

Eliminated on disposal

-

-

(61,701

)

(61,701

)

At 30 June 2025

-

117,328

1,423,786

1,541,114

NET BOOK VALUE

At 30 June 2025

5,712,289

2,591

527,603

6,242,483

At 30 June 2024

3,826,249

2,879

590,111

4,419,239

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 July 2024

3,645,996

Additions

54,692

Disposals

(1,595,261

)

Revaluations

60,627

At 30 June 2025

2,166,054

NET BOOK VALUE

At 30 June 2025

2,166,054

At 30 June 2024

3,645,996

Cost or valuation at 30 June 2025 is represented by:

Other

investments

£

Valuation in 2025

1,679,389

Cost

486,665

2,166,054

Included in investments is £5,000 for shares held in a subsidiary, Grundy Produce (Spalding) Limited.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2024

and 30 June 2025

1,440,000

NET BOOK VALUE

At 30 June 2025

1,440,000

At 30 June 2024

1,440,000

Investment properties are included at fair value. The valuation has been prepared by the company's directors based on their knowledge and experience of the property market.

Fair value at 30 June 2025 is represented by:

£

Valuation in 2021

166,635

Valuation in 2022

105,000

Valuation in 2023

250,000

Cost

918,365

1,440,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

45,939

38,247

Other debtors

6,735

13,830

Directors' loan accounts

8,782

9,705

VAT

34,448

21,736

Prepayments and accrued income

78,415

38,312

174,319

121,830

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

23,290

26,575

Trade creditors

32,859

11,662

Tax

114,098

-

Social security and other taxes

7,806

6,286

Other creditors

6,716

6,736

Directors' loan accounts

625

-

Accruals and deferred income

14,032

10,017

199,426

61,276

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

23,167

-

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

46,457

26,575

The hire purchase liability is secured against the asset to which it relates.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

14,155

Ordinary A

£1

14,155

14,155

56,620

Ordinary B

£1

56,620

56,620

20,000

Preference

£1

20,000

20,000

90,775

90,775

12.

RESERVES

Other

reserve

£

At 1 July 2024

521,635

Transfer to revaluation reserve

1,231,670

At 30 June 2025

1,753,305

The aggregate surplus on re-measurement of investment properties, net of associated deferred tax, is transferred to a separate non-distributable revaluation reserve in order to assist with the identification of profits available for distribution.

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2025 and 30 June 2024:

2025

2024

£

£

Mrs K M Grundy

Balance outstanding at start of year

921

2,771

Amounts advanced

-

1,030

Amounts repaid

(921

)

(2,880

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

921

N J Grundy

Balance outstanding at start of year

5,163

(6,449

)

Amounts advanced

22,369

11,612

Amounts repaid

(18,750

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8,782

5,163

J Grundy

Balance outstanding at start of year

4,541

44

Amounts advanced

8,583

4,659

Amounts repaid

(13,750

)

(162

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(626

)

4,541

There is no interest charged on directors loan account balances, all overdrawn directors loan accounts to be cleared before 9 months post balance sheet.

14.	POST BALANCE SHEET EVENTS

A dividend was raised post balance sheet date totalling £30,000.