Payne Brothers (East Anglia) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01010625

Payne Brothers (East Anglia) Limited

Unaudited financial statements

31 July 2025

Payne Brothers (East Anglia) Limited

Statement of financial position

31 July 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		1,895,067		1,765,280

Current assets

Stocks		103,377	68,000
Debtors	6	532,655	693,248
Investments	7	175,000	175,000
Cash at bank and in hand		313,493	246,909
		-----------	-----------
		1,124,525	1,183,157

Creditors: Amounts falling due within one year	8	( 429,040)		( 317,829)
		-----------		-----------
Net current assets			695,485		865,328
			-----------		-----------
Total assets less current liabilities			2,590,552		2,630,608

Creditors: Amounts falling due after more than one year	9		( 80,679)		( 9,947)

Provisions

Taxation including deferred tax		( 262,663)		( 230,392)

Accruals and deferred income	( 31,047)	( 24,818)
	-----------	-----------
Net assets	2,216,163	2,365,451
	-----------	-----------

Capital and reserves

Called up share capital	11	5,000	5,000
Profit and loss account		2,211,163	2,360,451
		-----------	-----------
Shareholders funds		2,216,163	2,365,451
		-----------	-----------

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.

For the year ending 31 July 2025 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 .

Payne Brothers (East Anglia) Limited

Statement of financial position (continued)

31 July 2025

These financial statements were approved by the board of directors and authorised for issue on 28 October 2025 , and are signed on behalf of the board by:

D W Payne

Director

Company registration number: 01010625

Payne Brothers (East Anglia) Limited

Notes to the financial statements

Year ended 31 July 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Fakenham Agri-Park, Swaffham Road, Hempton, Fakenham, NR21 7DY.

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.

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 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.

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. Investment property Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are 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 and leasehold buildings	-	2% straight line
Plant and equipment	-	20% straight line
Trailers	-	5% straight line
Motor vehicles	-	25% straight line

Land is not depreciated.

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.

4. Employee numbers

The average number of employees during the year was 9 (2024: 10 ).

5. Tangible assets

	Freehold and leasehold buildings	Plant and equipment	Trailers	Motor vehicles	Investment property	Total
	£	£	£	£	£	£
Cost
At 1 August 2024	269,857	62,823	1,218,656	84,298	802,265	2,437,899
Additions	39,713	–	423,245	–	–	462,958
Disposals	–	–	( 372,519)	( 2,000)	–	( 374,519)
	---------	-------	-----------	-------	---------	-----------
At 31 July 2025	309,570	62,823	1,269,382	82,298	802,265	2,526,338
	---------	-------	-----------	-------	---------	-----------
Depreciation
At 1 August 2024	160,684	52,979	405,658	53,298	–	672,619
Charge for the year	6,546	3,581	126,745	14,715	–	151,587
Disposals	–	–	( 192,519)	( 416)	–	( 192,935)
	---------	-------	-----------	-------	---------	-----------
At 31 July 2025	167,230	56,560	339,884	67,597	–	631,271
	---------	-------	-----------	-------	---------	-----------
Carrying amount
At 31 July 2025	142,340	6,263	929,498	14,701	802,265	1,895,067
	---------	-------	-----------	-------	---------	-----------
At 31 July 2024	109,173	9,844	812,998	31,000	802,265	1,765,280
	---------	-------	-----------	-------	---------	-----------

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold property
	£
At 31 July 2025
Aggregate cost	254,761
Aggregate depreciation	(122,615)
	---------
Carrying value	132,146
	---------

At 31 July 2024
Aggregate cost	215,048
Aggregate depreciation	(116,389)
	---------
Carrying value	98,659
	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	193,531	155,609
Prepayments and accrued income	115,124	82,639
Other debtors	224,000	455,000
	---------	---------
	532,655	693,248
	---------	---------

7. Investments

	2025	2024
	£	£
Investments	175,000	175,000
	---------	---------

8. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Bank loans	9,947	10,000
Trade creditors	90,321	102,181
Social security and other taxes	83,725	163,787
Other creditors	245,047	41,861
	---------	---------
	429,040	317,829
	---------	---------

Included within other creditors falling due within one year are hire purchase agreements totalling £106,371 (2024: £nil) which are secured on the assets concerned.

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

	2025	2024
	£	£
Bank loans	–	9,947
Other creditors	80,679	–
	-------	------
	80,679	9,947
	-------	------

Included within other creditors falling due in more than one year are hire purchase agreements totalling £80,679 (2024: £nil) which are secured on the assets concerned.

10. Operating leases - as lessor

As at 31 July 2025 the company is due £1,631,864 (2024: £1,836,236), under non-cancellable operating leases.

11. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	5,000	5,000	5,000	5,000
	------	------	------	------