| REGISTERED NUMBER: |
| J.R.Gilman & Son Limited |
| Unaudited Financial Statements |
| for the Year Ended 1 April 2025 |
| REGISTERED NUMBER: |
| J.R.Gilman & Son Limited |
| Unaudited Financial Statements |
| for the Year Ended 1 April 2025 |
| J.R.Gilman & Son Limited (Registered number: 00824097) |
| Contents of the Financial Statements |
| for the Year Ended 1 April 2025 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 5 |
| J.R.Gilman & Son Limited |
| Company Information |
| for the Year Ended 1 April 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| trading as The Hutchinson Partnership |
| Chartered Accountants |
| The Bull Pen |
| Grove Farm |
| Portway, Burghill |
| Hereford |
| HR4 8NF |
| BANKERS: |
| 8 Market Street |
| Tamworth |
| Staffordshire |
| B79 7LS |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| J.R.Gilman & Son Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J.R.Gilman & Son Limited for the year ended 1 April 2025 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of J.R.Gilman & Son Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of J.R.Gilman & Son Limited and state those matters that we have agreed to state to the Board of Directors of J.R.Gilman & Son Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J.R.Gilman & Son Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that J.R.Gilman & Son Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of J.R.Gilman & Son Limited. You consider that J.R.Gilman & Son Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of J.R.Gilman & Son Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| trading as The Hutchinson Partnership |
| Chartered Accountants |
| The Bull Pen |
| Grove Farm |
| Portway, Burghill |
| Hereford |
| HR4 8NF |
| J.R.Gilman & Son Limited (Registered number: 00824097) |
| Balance Sheet |
| 1 April 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 10 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Allotted, issued and fully paid share capital |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| J.R.Gilman & Son Limited (Registered number: 00824097) |
| Balance Sheet - continued |
| 1 April 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| J.R.Gilman & Son Limited (Registered number: 00824097) |
| Notes to the Financial Statements |
| for the Year Ended 1 April 2025 |
| 1. | STATUTORY INFORMATION |
| J.R.Gilman & Son Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The directors have considered the financial requirements of the company and are confident that it will be able to operate within its agreed finance facilities for the next 12 months. The directors therefore consider it appropriate to prepare accounts on the going concern basis. |
| Turnover |
| Turnover represents grain sales stated net of discounts, rebates, value added tax and other sales taxes. |
| The company recognises revenue when the significant risks and rewards of ownership have passed to the buyer, when the amount of revenue can be measured reliably, when it is probable that the economic benefits associated with the transaction will flow to the entity and when the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from services is recognised in the accounting periods in which the services are rendered. |
| Grain sales are recognised when the grain/produce is collected from the farm.. |
| 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. |
| Tangible fixed assets |
| Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
| Land | nil |
| Freehold buildings | 4% | straight line |
| Tractors and harvesters | 25% | reducing balance |
| Implements | 15% | reducing balance |
| Motor vehicles | 25% | reducing balance |
| Solar panels | 6.67% | straight line |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| The Company has the following biological assets which are valued as disclosed - |
| Crops in store - valued at deemed cost of their current market value |
| Growing crop - valued at the cost of inputs and cultivations up to the period end. |
| J.R.Gilman & Son Limited (Registered number: 00824097) |
| Notes to the Financial Statements - continued |
| for the Year Ended 1 April 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
| Investments |
| Investments held are stated at market value at the balance sheet date less any provision for permanent diminution in value. |
| 3. | EMPLOYEES |
| The average number of employees during the year was |
| J.R.Gilman & Son Limited (Registered number: 00824097) |
| Notes to the Financial Statements - continued |
| for the Year Ended 1 April 2025 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 2 April 2024 |
| and 1 April 2025 |
| AMORTISATION |
| At 2 April 2024 |
| and 1 April 2025 |
| NET BOOK VALUE |
| At 1 April 2025 |
| At 1 April 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Land and | Plant and | Motor |
| buildings | machinery | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 2 April 2024 |
| Additions |
| At 1 April 2025 |
| DEPRECIATION |
| At 2 April 2024 |
| Charge for year |
| At 1 April 2025 |
| NET BOOK VALUE |
| At 1 April 2025 |
| At 1 April 2024 |
| Included in cost of land and buildings is freehold land of £ 794,511 (2024 - £ 794,511 ) which is not depreciated. |
| The net book value of tangible fixed assets includes £Nil (2024 - £114,328) in respect of assets held under hire purchase contracts. |
| J.R.Gilman & Son Limited (Registered number: 00824097) |
| Notes to the Financial Statements - continued |
| for the Year Ended 1 April 2025 |
| 6. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST OR VALUATION |
| At 2 April 2024 |
| Revaluations |
| At 1 April 2025 |
| NET BOOK VALUE |
| At 1 April 2025 |
| At 1 April 2024 |
| If fixed asset investments had not been revalued they would have been included at historical cost of £296,400 (2024 - £296,400). |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Prepayments and accrued income |
| Other debtors |
| VAT |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Corporation tax payable |
| Other creditors |
| Directors' current accounts |
| Accruals and deferred income |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts | - | 45,000 |
| The hire purchase contract is secured against the asset to which it relates. |
| J.R.Gilman & Son Limited (Registered number: 00824097) |
| Notes to the Financial Statements - continued |
| for the Year Ended 1 April 2025 |
| 10. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax |
| Deferred tax - |
| Accelerated Capital Allowances | 74,775 | 87,788 |
| Other timing differences | 8,985 | 15,942 |
| 83,760 | 103,730 |
| Deferred |
| tax |
| £ |
| Balance at 2 April 2024 |
| Provided during year | ( |
) |
| Balance at 1 April 2025 |
| 11. | OTHER FINANCIAL COMMITMENTS |
| The company leases farmland and buildings for £14,550 per annum. The lease is in perpetuity. |