Company No: 04902382 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	1,025,155		1,019,987
		1,025,155		1,019,987
Current assets
Stocks	4	442,174		730,150
Debtors	5	2,467,642		2,641,098
		2,909,816		3,371,248
Creditors: amounts falling due within one year	6	( 1,388,216)		( 1,777,336)
Net current assets		1,521,600		1,593,912
Total assets less current liabilities		2,546,755		2,613,899
Creditors: amounts falling due after more than one year	7	( 395,587)		( 523,355)
Provision for liabilities		( 32,149)		( 30,857)
Net assets		2,119,019		2,059,687
Capital and reserves
Called-up share capital		2		2
Profit and loss account		2,119,017		2,059,685
Total shareholders' funds		2,119,019		2,059,687

For the financial year ending 31 March 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 financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of McKenzie Brothers Limited (registered number: 04902382) were approved and authorised for issue by the Director on 05 December 2025. They were signed on its behalf by:

W A McKenzie Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

McKenzie Brothers Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Southwood Farm, Shalden, Alton, GU34 4EB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customers. Revenue from services is recognised as they are delivered.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance
Other property, plant and equipment	10 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

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

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

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

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	24		21

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Other property, plant and equipment		Total
	£		£		£		£		£
Cost
At 01 April 2024	907,641		346,732		8,942		46,320		1,309,635
Additions	0		7,389		0		14,093		21,482
At 31 March 2025	907,641		354,121		8,942		60,413		1,331,117
Accumulated depreciation
At 01 April 2024	0		245,215		5,618		38,815		289,648
Charge for the financial year	0		10,823		830		4,661		16,314
At 31 March 2025	0		256,038		6,448		43,476		305,962
Net book value
At 31 March 2025	907,641		98,083		2,494		16,937		1,025,155
At 31 March 2024	907,641		101,517		3,324		7,505		1,019,987

Included within the net book value of land and buildings above is £907,641 (2024 - £907,641) in respect of freehold land and buildings.

4. Stocks

	2025		2024
	£		£
Stocks	442,174		730,150

5. Debtors

	2025		2024
	£		£
Trade debtors	973,123		1,247,795
Prepayments	2,979		3,303
Other debtors	1,491,540		1,390,000
	2,467,642		2,641,098

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts	671,141		725,160
Trade creditors	495,388		879,965
Accruals	22,380		19,338
Taxation and social security	160,986		83,712
Other creditors	38,321		69,161
	1,388,216		1,777,336

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

	2025		2024
	£		£
Bank loans	395,587		523,355

There are no amounts included above in respect of which any security has been given by the small entity.

8. Related party transactions

During the year, the company traded with McKenzie Brothers and McKenzie Arable. These are related due to the director being a partner in the business.

The company received income amounting to £158,067 (2024 - £160,738) from McKenzie Arable and made purchases of £93,373 (2024 - £799) to McKenzie Arable.

It also received income amounting to £184,561 (2024 - £170,917) from McKenzie Brothers and made purchases of £193,183 (2024 - £611,331) from McKenzie Brothers.

At the year end, the company was owed £500,000 (2024 - £500,000) by McKenzie Brothers and £600,000 (2024 - £600,000) by McKenzie Arable. In addition there is a balance owed from McKenzie Arable of £287,769 (2024 - £354,805) and McKenzie Brothers of £231,166 (2024 - £248,712) included in debtors. There is also a balance owed to McKenzie Arable of £48,743 (2024 - £54,115) and £nil (2024 - £Nil) to McKenzie Brothers.

The company also traded with McKenzie Feeds Limited a company under common control. The company received income amounting to £0 (2024 - £0) and made purchases of £167 (2024 - £1,346) from/to McKenzie Feeds Limited. At the end of the year there is a balance owed to McKenzie Feeds Limited of £201 (2024 - £Nil) included within trade creditors.