1 May 2024 v2025.72.1 limited_company_frs_102_section_1a_v1_1_3 companies_house Software false true true true No description of principal activity false true xbrli:pure xbrli:shares iso4217:GBP 06871131 2024-05-01 2025-04-30 06871131 2025-04-30 06871131 2024-04-30 06871131 core:WithinOneYear 2025-04-30 06871131 core:WithinOneYear 2024-04-30 06871131 core:AfterOneYear 2025-04-30 06871131 core:AfterOneYear 2024-04-30 06871131 core:ShareCapital 2025-04-30 06871131 core:ShareCapital 2024-04-30 06871131 core:RetainedEarningsAccumulatedLosses 2025-04-30 06871131 core:RetainedEarningsAccumulatedLosses 2024-04-30 06871131 bus:Director1 2024-05-01 2025-04-30 06871131 bus:RegisteredOffice 2024-05-01 2025-04-30 06871131 core:LandBuildings 2024-05-01 2025-04-30 06871131 core:PlantMachinery 2024-05-01 2025-04-30 06871131 core:MotorVehicles 2024-05-01 2025-04-30 06871131 2023-05-01 2024-04-30 06871131 core:IntangibleAssetsOtherThanGoodwill 2024-05-01 06871131 core:IntangibleAssetsOtherThanGoodwill 2024-05-01 2025-04-30 06871131 core:LandBuildings 2024-05-01 06871131 core:PlantMachinery 2024-05-01 06871131 2024-05-01 06871131 core:LandBuildings 2025-04-30 06871131 core:PlantMachinery 2025-04-30 06871131 core:LandBuildings 2024-04-30 06871131 core:PlantMachinery 2024-04-30 06871131 1 2024-05-01 2025-04-30 06871131 countries:EnglandWales 2024-05-01 2025-04-30 06871131 bus:AuditExemptWithAccountantsReport 2024-05-01 2025-04-30 06871131 bus:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 06871131 bus:SmallEntities 2024-05-01 2025-04-30 06871131 bus:FullAccounts 2024-05-01 2025-04-30
Company registration number:
06871131
N W & M Vasey & Son Ltd
Unaudited Filleted Financial Statements for the year ended
30 April 2025
The Barker Partnership
Chartered Accountants
44 Kirkgate, Ripon, North Yorkshire, HG4 1PB, England
N W & M Vasey & Son Ltd
Statement of Financial Position
30 April 2025

|  | 2025 | 2024
--- | --- | --- | ---
| Note | £ | £
Fixed assets |  |  |  |  |
Tangible assets | 6 | 696,643 |  | 696,765 |
Current assets |  |  |  |  |
Stocks |  | 236,626 |  | 229,610 |
Debtors | 7 | 78,723 |  | 67,604 |
Cash at bank and in hand |  | 44,047 |  | 3,830 |
|  | 359,396 |  | 301,044 |
Creditors: amounts falling due within one year | 8 | (174,013 | ) | (208,835 | )
Net current assets |  | 185,383 |  | 92,209 |
Total assets less current liabilities |  | 882,026 |  | 788,974 |
Creditors: amounts falling due after more than one year | 9 | (354,618 | ) | (382,905 | )
Provisions for liabilities |  | (39,038 | ) | (41,808 | )
Net assets |  | 488,370 |  | 364,261 |
Capital and reserves |  |  |  |  |
Called up share capital |  | 100 |  | 100 |
Profit and loss account |  | 488,270 |  | 364,161 |
Shareholders funds |  | 488,370 |  | 364,261 |

For the year ending
30 April 2025
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

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

J Vasey
Director

Company registration number:
06871131
N W & M Vasey & Son Ltd
Notes to the Financial Statements
Year ended
30 April 2025

## 1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Middle Biggin Farm
,
Kirkby Malzeard
,
Ripon
,
North Yorkshire
,
HG4 3QG
, United Kingdom.

## 2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

## 3 Accounting policies

## Basis of preparation

The
financial statements
have been prepared on the historical cost basis.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

## Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, 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.

## Current tax

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.

## Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Land and buildings | Straight line over 20 years
Plant and machinery | 20% reducing balance
Motor vehicles | 25% reducing balance

## Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

## 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 stocks to their present location and condition.

## Finance leases and hire purchase contracts

Assets held under finance leases 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.

## Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

## Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

## Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

## Provisions for liabilities

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 in finance costs in profit or loss in the period it arises.

## 4 Average number of employees

The average number of persons employed by the company during the year was
1
(2024:
1.00
).

## 5 Intangible assets

| Other intangible assets
--- | ---
| £
Cost |  |
At 1 May 2024 | 8,750 |
Disposals | (8,750 | )
At 30 April 2025 | - |
Amortisation |  |
At 1 May 2024 | 8,750 |
Disposals | (8,750 | )
At 30 April 2025 | - |
Carrying amount |  |
At 30 April 2025 | - |
At 30 April 2024 | - |

## 6 Tangible assets

| Land and buildings | Plant and machinery etc. | Total
--- | --- | --- | ---
| £ | £ | £
Cost |  |  |  |  |  |
At 1 May 2024 | 552,135 |  | 308,094 |  | 860,229 |
Additions | 15,105 |  | 27,685 |  | 42,790 |
Disposals | - |  | (8,500 | ) | (8,500 | )
At 30 April 2025 | 567,240 |  | 327,279 |  | 894,519 |
Depreciation |  |  |  |  |  |
At 1 May 2024 | 14,370 |  | 149,094 |  | 163,464 |
Charge | 4,034 |  | 37,570 |  | 41,604 |
Disposals | - |  | (7,192 | ) | (7,192 | )
At 30 April 2025 | 18,404 |  | 179,472 |  | 197,876 |
Carrying amount |  |  |  |  |  |
At 30 April 2025 | 548,836 |  | 147,807 |  | 696,643 |
At 30 April 2024 | 537,765 |  | 159,000 |  | 696,765 |

## 7 Debtors

| 2025 | 2024
--- | --- | ---
| £ | £
Trade debtors | 72,827 |  | 64,742 |
Other debtors | 5,896 |  | 2,862 |
| 78,723 |  | 67,604 |

## 8 Creditors: amounts falling due within one year

| 2025 | 2024
--- | --- | ---
| £ | £
Bank loans and overdrafts | 18,767 |  | 17,937 |
Trade creditors | 55,396 |  | 46,978 |
Taxation and social security | 43,731 |  | 43,869 |
Other creditors | 56,119 |  | 100,051 |
| 174,013 |  | 208,835 |

The bank loans and hire purchase liabilities totalling £25,880 (2024 £25,385) are secured on the assets of the company.

## 9 Creditors: amounts falling due after more than one year

| 2025 | 2024
--- | --- | ---
| £ | £
Bank loans and overdrafts | 349,875 |  | 371,048 |
Other creditors | 4,743 |  | 11,857 |
| 354,618 |  | 382,905 |

The above amounts are bank loans and hire purchase liabilities are the whole amounts are secured on the assets of the company.
The amounts owed to creditors in more than 5 years is £274,811 (2024 £299,301).