T. Brown & Son (Covington) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01822911

T. Brown & Son (Covington) Limited

Filleted Unaudited Financial Statements

For the year ended

30 June 2025

T. Brown & Son (Covington) Limited

Financial Statements

Year ended 30 June 2025

Contents	Pages

Officers and professional advisers	1

Statement of financial position	2 to 3

Notes to the financial statements	4 to 7

T. Brown & Son (Covington) Limited

Officers and Professional Advisers

THE BOARD OF DIRECTORS	T R Brown
	M W Brown

COMPANY SECRETARY	M J Brown

REGISTERED OFFICE	Bottom Farm
	Keyston Road
	Covington
	Huntingdon
	Cambs
	PE28 0RU

ACCOUNTANTS	Streets
	Chartered Accountants
	Potton House
	Wyboston Lakes
	Great North Road
	Wyboston
	Bedford
	MK44 3BZ

BANKERS	Barclays Bank Plc
	East Northants Group
	8 Market Place
	Kettering
	Northants
	NN16 0AX

T. Brown & Son (Covington) Limited

Statement of Financial Position

30 June 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		2,245,230	1,836,721

Current assets

Stocks		524,425	594,784
Debtors	6	232,549	231,985
Cash at bank and in hand		11,314	151,959
		----------	----------
		768,288	978,728

Creditors: amounts falling due within one year	7	270,074		180,608
		----------		----------
Net current assets			498,214	798,120
			------------	------------
Total assets less current liabilities			2,743,444	2,634,841

Creditors: amounts falling due after more than one year	8		–	56,250

Provisions

Taxation including deferred tax	146,519	158,319
	------------	------------
Net assets	2,596,925	2,420,272
	------------	------------

Capital and reserves

Called up share capital	14,602	14,602
Share premium account	258,795	258,795
Capital redemption reserve	5,898	5,898
Profit and loss account	2,317,630	2,140,977
	------------	------------
Shareholders funds	2,596,925	2,420,272
	------------	------------

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 30 June 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 .

T. Brown & Son (Covington) Limited

Statement of Financial Position (continued)

30 June 2025

These financial statements were approved by the board of directors and authorised for issue on 14 November 2025 , and are signed on behalf of the board by:

T R Brown
Director

Company registration number: 01822911

T. Brown & Son (Covington) Limited

Notes to the Financial Statements

Year ended 30 June 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 Bottom Farm, Keyston Road, Covington, Huntingdon, Cambs, PE28 0RU.

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. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the Statement of Comprehensive Income represents goods and services provided during the period, exclusive of value added tax and trade discounts. Income received under operating leases is included in other operating income on an accruals basis.

Taxation

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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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 buildings	-	10% reducing balance
Long leasehold buildings	-	5, 7 or 10% straight line
Plant and machinery	-	20% reducing balance
Motor vehicles	-	20% reducing balance
Equipment	-	20% reducing balance or 33.33% straight line

Land is not depreciated.

Stocks

Stocks have been valued by the directors. Raw materials and consumables are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items, and cultivations and stocks of produce are valued using accepted valuation principles.

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.

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 company 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 company 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.

Defined contribution pension plans

The company contributes to a defined contribution pension scheme for the benefit of certain directors and staff members. The assets of the schemes are held separately from those of the company. The annual contributions payable are charged to the Statement of Comprehensive Income.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2024: 5 ).

5. Tangible assets

	Freehold property	Long leasehold property	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Jul 2024	1,222,890	76,017	1,607,119	34,329	984	2,941,339
Additions	504,842	–	52,441	–	–	557,283
Disposals	–	–	( 62,729)	–	–	( 62,729)
	------------	--------	------------	--------	----	------------
At 30 Jun 2025	1,727,732	76,017	1,596,831	34,329	984	3,435,893
	------------	--------	------------	--------	----	------------
Depreciation
At 1 Jul 2024	193,255	52,110	826,959	31,741	553	1,104,618
Charge for the year	10,985	3,114	124,576	517	196	139,388
Disposals	–	–	( 53,343)	–	–	( 53,343)
	------------	--------	------------	--------	----	------------
At 30 Jun 2025	204,240	55,224	898,192	32,258	749	1,190,663
	------------	--------	------------	--------	----	------------
Carrying amount
At 30 Jun 2025	1,523,492	20,793	698,639	2,071	235	2,245,230
	------------	--------	------------	--------	----	------------
At 30 Jun 2024	1,029,635	23,907	780,160	2,588	431	1,836,721
	------------	--------	------------	--------	----	------------

Land valued at £1,430,081 (2024 £925,238) has not been depreciated.

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery
	£
At 30 June 2025	243,663
	----------
At 30 June 2024	286,663
	----------

6. Debtors

	2025	2024
	£	£
Trade debtors	131,861	112,916
Other debtors	100,688	119,069
	----------	----------
	232,549	231,985
	----------	----------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	13,988	56,606
Social security and other taxes	92,656	47,944
Other creditors	163,430	76,058
	----------	----------
	270,074	180,608
	----------	----------

Creditors due within one year includes hire purchase liabilities of £56,250 (2024 £56,250) which are secured on the assets concerned.

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	–	56,250
	----	--------

Creditors due after one year includes hire purchase liabilities totalling £NIL (2024 £56,250) which are secured on the assets concerned.

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	56,422	111,542
Later than 1 year and not later than 5 years	–	55,771
	--------	----------
	56,422	167,313
	--------	----------

10. Directors' advances, credits and guarantees

The directors reimburse goods and services purchased through the company for personal use. At the reporting date the directors owed the company £79 (2024 £nil) which has been repaid in full.