J.B. Fairley & Son Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03432641

J.B. Fairley & Son Limited

Filleted Unaudited Financial Statements

For the Year Ended

31 December 2025

J.B. Fairley & Son Limited

Statement of Financial Position

31 December 2025

	2025		2024
Note	£	£	£

Fixed Assets

Tangible assets	5		3,210,034	3,353,659

Current Assets

Stocks		433,847	518,976
Debtors	6	45,270	83,905
Cash at bank and in hand		500	500
		----------	----------
		479,617	603,381

Creditors: amounts falling due within one year	7	395,351		530,616
		----------		----------
Net Current Assets			84,266	72,765
			-------------	-------------
Total Assets Less Current Liabilities			3,294,300	3,426,424

Creditors: amounts falling due after more than one year	8		78,313	145,952

Provisions

Taxation including deferred tax	222,839	226,284
	-------------	-------------
Net Assets	2,993,148	3,054,188
	-------------	-------------

J.B. Fairley & Son Limited

Statement of Financial Position (continued)

31 December 2025

	2025		2024
Note	£	£	£

Capital and Reserves

Called up share capital	24,000	24,000
Share premium account	1,604,732	1,604,732
Profit and loss account	1,364,416	1,425,456
	-------------	-------------
Shareholders Funds	2,993,148	3,054,188
	-------------	-------------

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 comprehensive income has not been delivered.

For the year ending 31st December 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 .

These financial statements were approved by the board of directors and authorised for issue on 4 September 2026 , and are signed on behalf of the board by:

D.J. Fairley

Director

Company registration number: 03432641

J.B. Fairley & Son Limited

Notes to the Financial Statements

Year Ended 31st December 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 Kings Farm, Sneating Hall Lane, Kirby le Soken, Frinton on Sea, Essex, CO13 0EW.

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 financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities.

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.

Operating Leases

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

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:

Land & buildings	-	50 years
Plant & machinery	-	5 to 10 years
Combines & tractors	-	10 years
Motor vehicles	-	8 years

No depreciation is 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.

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.

4. Employee Numbers

The average number of persons employed by the company during the year amounted to 4 (2024: 4 ).

5. Tangible Assets

	Land and buildings	Plant and machinery	Combines & tractors	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1st January 2025	2,766,901	737,505	1,095,271	36,445	4,636,122
Additions	–	31,000	2,936	–	33,936
Disposals	–	( 25,799)	( 27,182)	–	( 52,981)
	-------------	----------	-------------	---------	-------------
At 31st December 2025	2,766,901	742,706	1,071,025	36,445	4,617,077
	-------------	----------	-------------	---------	-------------
Depreciation
At 1st January 2025	246,199	458,380	548,075	29,809	1,282,463
Charge for the year	19,118	52,861	81,542	3,318	156,839
Disposals	–	( 8,334)	( 23,925)	–	( 32,259)
	-------------	----------	-------------	---------	-------------
At 31st December 2025	265,317	502,907	605,692	33,127	1,407,043
	-------------	----------	-------------	---------	-------------
Carrying amount
At 31st December 2025	2,501,584	239,799	465,333	3,318	3,210,034
	-------------	----------	-------------	---------	-------------
At 31st December 2024	2,520,702	279,125	547,196	6,636	3,353,659
	-------------	----------	-------------	---------	-------------

Included in freehold land and buildings is land valued at £1,573,608 (2024 - £1,573,608), which is not depreciated. The freehold land and buildings were valued at their open market value for existing use on 6th February 1998 by Fenn Wright in James Fairley & Sons (Farms) Limited prior to the demerger of the company. The land and buildings were then transferred into this company at that valuation. Also included in freehold land and buildings is a further 81 acres purchased after the demerger for £248,656 (2024 - £248,656), which is not depreciated.

6. Debtors

	2025	2024
	£	£
Trade debtors	14,137	25,197
Other debtors	31,133	58,708
	---------	---------
	45,270	83,905
	---------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	228,509	270,930
Trade creditors	96,798	90,647
Social security and other taxes	1,192	1,300
Other creditors	68,852	167,739
	----------	----------
	395,351	530,616
	----------	----------

The bank loans are secured by a charge on the freehold land and freehold property at Kings Farm, Kirby Cross, Essex, the first legal charge being given by J.B. Fairley & Son Limited .

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

	2025	2024
	£	£
Bank loans and overdrafts	45,021	74,017
Other creditors	33,292	71,935
	---------	----------
	78,313	145,952
	---------	----------

The bank loans are secured by a charge on the freehold land and freehold property at Kings Farm, Kirby Cross, Essex, the first legal charge being given by J.B. Fairley & Son Limited .