REGISTERED NUMBER: 00518198 (England and Wales)

Unaudited Financial Statements for the Year Ended 5 April 2025

for

Godfrey & Turnbull Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs D Turnbull

A W H Turnbull

SECRETARY:

Mrs D Turnbull

REGISTERED OFFICE:

The Farm Office

Prospect Farm

Barnetby

North Lincolnshire

DN38 6EL

REGISTERED NUMBER:

00518198 (England and Wales)

BANKERS:

HSBC Bank Plc

84 High Street

Scunthorpe

North Lincolnshire

DN15 6HQ

SOLICITORS:

Symes Baines Broomer

2 Park Square

Laneham Street

Scunthorpe

North Lincolnshire

DN15 6JH

FIXED ASSETS

Intangible assets

4

1

1

Property, plant and equipment

5

1,461,016

1,572,857

Investments

6

5,158

5,158

1,466,175

1,578,016

CURRENT ASSETS

Inventories

411,584

439,506

Debtors

7

294,080

23,571

Cash at bank

47,724

191,385

753,388

654,462

CREDITORS

Amounts falling due within one year

8

167,235

194,428

NET CURRENT ASSETS

586,153

460,034

TOTAL ASSETS LESS CURRENT LIABILITIES

2,052,328

2,038,050

CREDITORS

Amounts falling due after more than one year

9

(36,849

)

(60,957

)

PROVISIONS FOR LIABILITIES

(3,417

)

(4,847

)

NET ASSETS

2,012,062

1,972,246

CAPITAL AND RESERVES

Called up share capital

20,000

20,000

Retained earnings

1,992,062

1,952,246

SHAREHOLDERS' FUNDS

2,012,062

1,972,246

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2025 and were signed on its behalf by:

A W H Turnbull - Director

1.	STATUTORY INFORMATION

Godfrey & Turnbull 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 comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Intangible fixed assets and amortisation

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the profit and loss account over its estimated economic life.

Amortisation is provided at the following rates:

Storage rights - Over 74 months

Entitlements - Over 20 years

Tangible fixed assets

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

Freehold property - Over 10 years

Plant and Machinery - At 15% per annum on cost

Motor vehicles -At rates varying between 20% and 33.33% per annum on cost

Office equipment - At 33.33% per annum on cost

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads

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.

Investments

Investments held as fixed assets are shown at cost less provision for impairment.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of change on the net obligation outstanding in each period.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Entitlements

£

COST

At 6 April 2024

and 5 April 2025

36,116

AMORTISATION

At 6 April 2024

and 5 April 2025

36,115

NET BOOK VALUE

At 5 April 2025

1

At 5 April 2024

1

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 6 April 2024

2,028,651

433,645

12,913

302,950

2,778,159

Additions

-

7,950

-

42,345

50,295

At 5 April 2025

2,028,651

441,595

12,913

345,295

2,828,454

DEPRECIATION

At 6 April 2024

747,898

252,823

12,570

192,011

1,205,302

Charge for year

9,791

58,591

343

93,411

162,136

At 5 April 2025

757,689

311,414

12,913

285,422

1,367,438

NET BOOK VALUE

At 5 April 2025

1,270,962

130,181

-

59,873

1,461,016

At 5 April 2024

1,280,753

180,822

343

110,939

1,572,857

Included in land and buildings is freehold land at a cost of £1,220,221 (2024: £1,220,221) which is not depreciated.

6.	FIXED ASSET INVESTMENTS

5.4.25

5.4.24

£

£

Other investments not loans

78

78

Other loans

5,080

5,080

5,158

5,158

Additional information is as follows:

Other

investments

£

COST

At 6 April 2024

and 5 April 2025

78

NET BOOK VALUE

At 5 April 2025

78

At 5 April 2024

78

Other

loans

£

At 6 April 2024

and 5 April 2025

5,080

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.25

5.4.24

£

£

Trade debtors

75,934

12,043

Other debtors

218,146

11,528

294,080

23,571

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.25

5.4.24

£

£

Bank loans and overdrafts

16,670

16,670

Hire purchase contracts

37,866

27,667

Trade creditors

42,181

46,022

Taxation and social security

32,624

29,702

Other creditors

37,894

74,367

167,235

194,428

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

5.4.25

5.4.24

£

£

Bank loans

16,620

33,290

Hire purchase contracts

20,229

27,667

36,849

60,957

10.	SECURED DEBTS

The following secured debts are included within creditors:

5.4.25

5.4.24

£

£

Bank loans

33,290

49,960

Hire purchase contracts

58,095

55,334

91,385

105,294

The bank loan is secured against the company's land and buildings at Low Farm.

The hire purchase contracts are secured against the assets which they relate to.

11.	RELATED PARTY DISCLOSURES

5.4.25

5.4.24

£

£

Sales to related parties

39,199

29,360

Amounts owed from related parties

217,534

8,664

Purchases from related parties

1,447

205,380

Amounts owing to related parties

32,218

6,000

The related parties are companies in which one of the directors is also a director or has a controlling interest.