REGISTERED NUMBER: 00519169 (England and Wales)

Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

J. R. Stennett Limited

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

to

5

Statement of Changes in Equity

6

Notes to the Financial Statements

7

to

12

DIRECTORS:

Mr M C Stennett

Mrs G M Stennett

Mr F Stennett

Mr C Stennett

SECRETARY:

Mrs G M Stennett

REGISTERED OFFICE:

The Coach House

Park Farm

Fornham St Genevieve

Bury St Edmunds

Suffolk

IP28 6TS

REGISTERED NUMBER:

00519169 (England and Wales)

ACCOUNTANTS:

Knights Lowe Chartered Accountants

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

BANKERS:

Barclays Bank Plc

Whitefriars

3 St James Court

Norwich

NR3 1RJ

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITIES

The principal activities of the company in the year under review were those of agricultural plant hire and in addition, in the partnership 'Genevieve Farms', the company carries on the trade of farming.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

Mr M C Stennett

Mrs G M Stennett

Mr F Stennett

Mr C Stennett

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr F Stennett - Director

3 December 2025

TURNOVER

375,686

158,020

Cost of sales

404,991

161,887

GROSS LOSS

(29,305

)

(3,867

)

Administrative expenses

113,177

65,156

(142,482

)

(69,023

)

Other operating income

12,973

67,992

OPERATING LOSS

4

(129,509

)

(1,031

)

Interest receivable and similar income

6,446

6,259

(LOSS)/PROFIT BEFORE TAXATION

(123,063

)

5,228

Tax on (loss)/profit

5

(28,529

)

(32,932

)

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(94,534

)

38,160

FIXED ASSETS

Intangible assets

6

39,829

-

Tangible assets

7

1,014,109

978,765

Investments

8

1,086,765

1,073,792

2,140,703

2,052,557

CURRENT ASSETS

Stocks

2,000

-

Debtors

9

26,410

79,988

Cash at bank and in hand

12,067

61,072

40,477

141,060

CREDITORS

Amounts falling due within one year

10

340,760

230,134

NET CURRENT LIABILITIES

(300,283

)

(89,074

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,840,420

1,963,483

PROVISIONS FOR LIABILITIES

11

66,189

94,718

NET ASSETS

1,774,231

1,868,765

CAPITAL AND RESERVES

Called up share capital

12

20,000

20,000

Revaluation reserve

13

340,167

340,167

Retained earnings

1,414,064

1,508,598

SHAREHOLDERS' FUNDS

1,774,231

1,868,765

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 3 December 2025 and were signed on its behalf by:

Mr F Stennett - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2023

20,000

1,470,438

340,167

1,830,605

Changes in equity

Total comprehensive income

-

38,160

-

38,160

Balance at 31 March 2024

20,000

1,508,598

340,167

1,868,765

Changes in equity

Total comprehensive income

-

(94,534

)

-

(94,534

)

Balance at 31 March 2025

20,000

1,414,064

340,167

1,774,231

1.	STATUTORY INFORMATION

J. R. Stennett 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the total amounts derived from ordinary activities during the year. It includes hire fees receivable and rents receivable.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Plant and machinery

-

at variable rates on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the transaction constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the company intends to either settle on a net basis, or to realise the asset and settle the liability simultaneously.

Debt instruments that are classified as payable or receivable within one year on initial recognition are measured at the undiscounted amount of cash or other consideration expected to be paid or received, net of impairment.

Financial assets are derecognised when, and only when (a) the contractual rights to the cash flows from the financial asset expire or are settled, (b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or (c) the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

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.

Pension costs and 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.

Investments

Participating interests

The company's joint venture, the partnership interest in Genevieve Farms, is stated at cost plus the accumulated share of profits and losses since acquisition. The profit share usually forms a material part of the company's income on which it is taxed. The profit share and tax charge are included in the Company's profit and loss account so as to produce a revenue statement showing a true and fair view.

Other investments

Fixed asset investments are stated at valuation. A policy of revaluation has not been adopted and hence the carrying amount reflects previous revaluations and those amounts are retained. The directors consider the cost of obtaining a valuation to be in excess of any benefit gained.

Impairment

At each reporting date, fixed assets, including tangible fixed assets, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

Hire purchase and 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 6 ) .

4.	OPERATING LOSS

The operating loss is stated after charging:

2025

2024

£

£

Depreciation - owned assets

172,985

121,783

Patents and licences amortisation

4,426

-

5.

TAXATION

Analysis of the tax credit

The tax credit on the loss for the year was as follows:

2025

2024

£

£

Deferred tax

(28,529

)

(32,932

)

Tax on (loss)/profit

(28,529

)

(32,932

)

UK corporation tax has been charged at 19% (2024 - 19%).

The company has tax losses carried forward amounting to £590,116 (2024: £390,019).

6.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

44,255

At 31 March 2025

44,255

AMORTISATION

Charge for year

4,426

At 31 March 2025

4,426

NET BOOK VALUE

At 31 March 2025

39,829

7.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

1,565,360

Additions

208,329

At 31 March 2025

1,773,689

DEPRECIATION

At 1 April 2024

586,595

Charge for year

172,985

At 31 March 2025

759,580

NET BOOK VALUE

At 31 March 2025

1,014,109

At 31 March 2024

978,765

8.	FIXED ASSET INVESTMENTS

2025

2024

£

£

Participating interests

661,556

648,583

Other investments not loans

425,209

425,209

1,086,765

1,073,792

Additional information is as follows:

Genevieve

Farms

£

COST

At 1 April 2024

648,583

Share of profit/(loss)

12,973

At 31 March 2025

661,556

NET BOOK VALUE

At 31 March 2025

661,556

At 31 March 2024

648,583

Investments (neither listed nor unlisted) were as follows:

2025

2024

£

£

Ingham Place Farm

425,209

425,209

Participating interests

Genevieve Farms

Interest in other participating interests comprises a 5% (2024: 5%) share in residual profits in Genevieve Farms, a farming partnership based at Park Farm, Fornham St Genevieve, Bury St Edmunds, Suffolk.

Other investments

Ingham Place Farm

The last change to the valuation was made during the year ended 31st March 2003 when it was increased from £372,000 to £425,209. The fixed asset investment represents the 25% interest in the freehold property at Ingham Place Farm.

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

24,848

965

Other debtors

1,562

79,023

26,410

79,988

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

44,232

217,201

Taxation and social security

14,582

2,127

Other creditors

281,946

10,806

340,760

230,134

11.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

96,982

84,231

Tax losses carried forward

(111,582

)

(70,302

)

Other timing differences

80,789

80,789

66,189

94,718

Deferred

tax

£

Balance at 1 April 2024

94,718

Provided during year

(28,529

)

Balance at 31 March 2025

66,189

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

20,000

Ordinary

£1

20,000

20,000

13.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

340,167

14.	PARENT COMPANY

J R Stennett (Holdings) Limited is the company's ultimate parent company.

J R Stennett (Holdings) Limited's registered office and principal place of business is:

The Coach House, Park Farm, Fornham St Genevieve, Bury St Edmunds, Suffolk IP28 6TS.