REGISTERED NUMBER: 08241170 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

JONATHAN CONNOLLY

AGRICULTURAL CONTRACTORS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J P Connolly

Mrs R Connolly

REGISTERED OFFICE:

17 Moor Park Avenue

Preston

Lancashire

PR1 6AS

REGISTERED NUMBER:

08241170 (England and Wales)

ACCOUNTANTS:

SBCA Chartered Accountants

17 Moor Park Avenue

Preston

Lancashire

PR1 6AS

FIXED ASSETS

Tangible assets

4

1,225,484

995,230

CURRENT ASSETS

Stocks

5

1,100

-

Debtors

6

121,595

114,257

Cash at bank

21,149

28,342

143,844

142,599

CREDITORS

Amounts falling due within one year

7

(467,839

)

(410,047

)

NET CURRENT LIABILITIES

(323,995

)

(267,448

)

TOTAL ASSETS LESS CURRENT LIABILITIES

901,489

727,782

CREDITORS

Amounts falling due after more than one year

8

(569,678

)

(428,906

)

PROVISIONS FOR LIABILITIES

9

(132,442

)

(117,784

)

NET ASSETS

199,369

181,092

CAPITAL AND RESERVES

Called up share capital

10

1

1

Retained earnings

11

199,368

181,091

SHAREHOLDERS' FUNDS

199,369

181,092

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21st November 2025 and were signed on its behalf by:

Mr J P Connolly - Director

1.	STATUTORY INFORMATION

Jonathan Connolly Agricultural Contractors 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.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

3% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

15% on reducing balance

Computer equipment

-

33% 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

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets:

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future cash flows discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities:

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.

Basic financial liabilities:

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if the payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1st April 2024

70,530

1,203,782

13,207

Additions

8,258

680,829

1,529

Disposals

-

(424,900

)

-

At 31st March 2025

78,788

1,459,711

14,736

DEPRECIATION

At 1st April 2024

770

309,642

4,519

Charge for year

2,199

113,401

2,320

Eliminated on disposal

-

(85,608

)

-

At 31st March 2025

2,969

337,435

6,839

NET BOOK VALUE

At 31st March 2025

75,819

1,122,276

7,897

At 31st March 2024

69,760

894,140

8,688

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st April 2024

69,065

5,570

1,362,154

Additions

-

659

691,275

Disposals

-

-

(424,900

)

At 31st March 2025

69,065

6,229

1,628,529

DEPRECIATION

At 1st April 2024

48,262

3,731

366,924

Charge for year

3,120

689

121,729

Eliminated on disposal

-

-

(85,608

)

At 31st March 2025

51,382

4,420

403,045

NET BOOK VALUE

At 31st March 2025

17,683

1,809

1,225,484

At 31st March 2024

20,803

1,839

995,230

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1st April 2024

962,700

Additions

664,663

Disposals

(393,000

)

At 31st March 2025

1,234,363

DEPRECIATION

At 1st April 2024

183,812

Charge for year

96,499

Eliminated on disposal

(65,826

)

At 31st March 2025

214,485

NET BOOK VALUE

At 31st March 2025

1,019,878

At 31st March 2024

778,888

5.

STOCKS

31.3.25

31.3.24

£

£

Stocks

1,100

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

100,962

106,833

Other debtors

20,633

7,424

121,595

114,257

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

33,607

34,026

Hire purchase contracts

169,409

139,800

Trade creditors

142,954

117,464

Taxation and social security

2,384

393

Other creditors

119,485

118,364

467,839

410,047

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

24,376

29,609

Hire purchase contracts

545,302

399,297

569,678

428,906

9.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

Accelerated capital allowances

287,320

231,275

Tax losses carried forward

(154,878

)

(113,491

)

132,442

117,784

Deferred

tax

£

Balance at 1st April 2024

117,784

Charge to Statement of Income and Retained Earnings during year

14,658

Balance at 31st March 2025

132,442

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

1

Ordinary

£1

1

1

11.

RESERVES

Retained

earnings

£

At 1st April 2024

181,091

Profit for the year

43,977

Dividends

(25,700

)

At 31st March 2025

199,368