E J Godwin (Peat Industries) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00317585

E J Godwin (Peat Industries) Limited

Filleted Unaudited Financial Statements

31 July 2025

E J Godwin (Peat Industries) Limited

Financial Statements

Year ended 31 July 2025

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

E J Godwin (Peat Industries) Limited

Officers and Professional Advisers

The board of directors	Mr B R C Malin
	Mr J E J Malin

Company secretary	Mr Joshua E J Malin

Registered office	20 Chamberlain Street
	Wells
	Somerset
	BA5 2PF

Accountants	Chalmers HB Ltd
	Chartered Accountants
	20 Chamberlain Street
	Wells
	Somerset BA5 2PF

Bankers	HSBC Bank Plc
	1 Market Place
	Wells
	Somerset
	BA5 2RN

Solicitors	Harris & Harris
	Diocesan Registry
	14 Market Place
	Wells
	Somerset

E J Godwin (Peat Industries) Limited

Statement of Financial Position

31 July 2025

	2025		2024
Note	£	£	£

Fixed assets

Intangible assets	5	23,977	40,915
Tangible assets	6	2,479,331	2,554,013
		------------	------------
		2,503,308	2,594,928

Current assets

Stocks		2,030,857	2,680,718
Debtors	7	896,266	773,572
Cash at bank and in hand		317,225	165,327
		------------	------------
		3,244,348	3,619,617

Creditors: amounts falling due within one year	8	1,673,360		2,181,597
		------------		------------
Net current assets			1,570,988	1,438,020
			------------	------------
Total assets less current liabilities			4,074,296	4,032,948

Creditors: amounts falling due after more than one year	9		447,729	312,488

Provisions

Taxation including deferred tax	173,680	112,678
	------------	------------
Net assets	3,452,887	3,607,782
	------------	------------

Capital and reserves

Called up share capital	39,295	39,295
Profit and loss account	3,413,592	3,568,487
	------------	------------
Shareholders funds	3,452,887	3,607,782
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

E J Godwin (Peat Industries) Limited

Statement of Financial Position (continued)

31 July 2025

These financial statements were approved by the board of directors and authorised for issue on 29 April 2026 , and are signed on behalf of the board by:

Mr B R C Malin	Mr J E J Malin
Director	Director

Company registration number: 00317585

E J Godwin (Peat Industries) Limited

Notes to the Financial Statements

Year ended 31 July 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 Chamberlain Street, Wells, Somerset, BA5 2PF.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The particular accounting policies adopted are described below. These policies have been consistently applied throughout the current and previous year.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Development costs	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Research and development

Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Plant and machinery	-	10% straight line
Fixtures and fittings	-	20% straight line
Motor vehicles	-	20% straight line

Depreciation is not provided on freehold land.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 41 (2024: 44 ).

5. Intangible assets

	Development costs
	£
Cost
At 1 August 2024 and 31 July 2025	230,035
	---------
Amortisation
At 1 August 2024	189,120
Charge for the year	16,938
	---------
At 31 July 2025	206,058
	---------
Carrying amount
At 31 July 2025	23,977
	---------
At 31 July 2024	40,915
	---------

6. Tangible assets

	Freehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 August 2024	1,689,937	3,881,002	138,445	216,874	5,926,258
Additions	30,301	11,463	–	46,825	88,589
Disposals	( 8,723)	–	–	–	( 8,723)
	------------	------------	---------	---------	------------
At 31 July 2025	1,711,515	3,892,465	138,445	263,699	6,006,124
	------------	------------	---------	---------	------------
Depreciation
At 1 August 2024	342,886	2,720,948	134,599	173,812	3,372,245
Charge for the year	20,405	102,991	268	31,895	155,559
Disposals	( 1,011)	–	–	–	( 1,011)
	------------	------------	---------	---------	------------
At 31 July 2025	362,280	2,823,939	134,867	205,707	3,526,793
	------------	------------	---------	---------	------------
Carrying amount
At 31 July 2025	1,349,235	1,068,526	3,578	57,992	2,479,331
	------------	------------	---------	---------	------------
At 31 July 2024	1,347,051	1,160,054	3,846	43,062	2,554,013
	------------	------------	---------	---------	------------

7. Debtors

	2025	2024
	£	£
Trade debtors	565,389	502,809
Other debtors	330,877	270,763
	---------	---------
	896,266	773,572
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	38,938	296,520
Trade creditors	743,240	837,794
Social security and other taxes	153,092	301,737
Other creditors	738,090	745,546
	------------	------------
	1,673,360	2,181,597
	------------	------------

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

	2025	2024
	£	£
Bank loans and overdrafts	193,172	–
Pension scheme loan (Legal & General)	35,295	74,226
Other creditors	219,262	238,262
	---------	---------
	447,729	312,488
	---------	---------

10. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions	173,680	112,678
	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	587,936	853,082
Unused tax losses	( 414,256)	( 740,404)
	---------	---------
	173,680	112,678
	---------	---------