REGISTERED NUMBER: 00481961 (England and Wales)

J.A.Godfrey & Sons,Limited

Unaudited Financial Statements for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Godfrey

J E Godfrey OBE

SECRETARY:

Miss K E Lund

REGISTERED OFFICE:

Cadas House

Wootton Road

Elsham Top

Brigg

North Lincolnshire

DN20 0NU

REGISTERED NUMBER:

00481961 (England and Wales)

ACCOUNTANTS:

Smailes Goldie Limited

Chartered Accountants

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,260,492

2,371,572

Investments

6

3

3

Investment property

7

-

2,900,000

2,260,495

5,271,575

CURRENT ASSETS

Stocks

944,125

943,236

Debtors

8

2,145,182

1,817,298

Investments

9

4,020,287

1,027,842

Cash at bank

34,074

6,387

7,143,668

3,794,763

CREDITORS

Amounts falling due within one year

10

1,001,150

352,993

NET CURRENT ASSETS

6,142,518

3,441,770

TOTAL ASSETS LESS CURRENT LIABILITIES

8,403,013

8,713,345

CREDITORS

Amounts falling due after more than one year

11

-

(64,954

)

PROVISIONS FOR LIABILITIES

(162,345

)

(447,840

)

NET ASSETS

8,240,668

8,200,551

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Revaluation reserve

14,724

1,435,832

Retained earnings

8,175,944

6,714,719

SHAREHOLDERS' FUNDS

8,240,668

8,200,551

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2025 and were signed on its behalf by:

A Godfrey - Director

1.	STATUTORY INFORMATION

J.A.Godfrey & Sons,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

The financial statements have been prepared in accordance with applicable accounting standards including Section 1A "Small Entities" of Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover arises completely in the United Kingdom and represents the total amount charged to customers for farm products and services exclusive of VAT where applicable. Turnover is recognised when the farm products and services have been delivered.

Intangible fixed 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.

Basic Payment Scheme entitlements are initially recognised at cost and are amortised on a straight line basis over their expected useful life. At the reporting date, the entitlement had been fully amortised. The original Basic Payment Scheme commenced in 2015 and then ceased during the 2021 accounting year prior to transitional rules applying.

Entitlements acquired via the ownership of existing land, and therefore have no cost, have been revalued to fair value on transition to FRS102, which has subsequently been treated as their deemed cost, and are being amortised over their expected useful life in accordance with the above period of benefit expected from the basic payment scheme.

Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Freehold buildings

- 10% straight line

Plant & machinery

- 12.5% - 20% straight line

Motor Vehicles

- 20% straight line

Land is not depreciated.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued under the cost model in accordance with Section 34 of FRS102 using the lower of cost and estimated selling price less costs to complete and sell method. Cost is determined using the first-in, first-out (FIFO) method and represents costs incurred to date to bring growing crops and finished produce to its current state.

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Government grants

Amounts receivable under the Common Agriculture Policy subsidy schemes are recognised as income in the profit and loss account when the eligibility criteria have been satisfied at the end of the scheme year.

Hire purchase

Assets obtained under hire purchase contract are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their useful lives.

The interest element of these obligations is charged to the profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Investments

Investments in shares are initially recognised at fair value, which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit and loss if their fair value can be measured reliably.

Current asset investments include cash equivalents which have a maturity of less than one year. They are initially measured at cost and subsequently re-measured at their fair value with the gain or loss being recognised in the profit and loss account.

Other investments are measured at cost less impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

93,566

AMORTISATION

At 1 April 2024

and 31 March 2025

93,566

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Freehold

Buildings

Implements

land

& machinery

& vehicles

Totals

£

£

£

£

COST

At 1 April 2024

1,517,491

456,905

1,919,785

3,894,181

Additions

-

-

72,825

72,825

Disposals

-

(3,004

)

(62,102

)

(65,106

)

Reclassification/transfer

-

(3,158

)

-

(3,158

)

At 31 March 2025

1,517,491

450,743

1,930,508

3,898,742

DEPRECIATION

At 1 April 2024

-

343,959

1,178,650

1,522,609

Charge for year

-

17,211

161,454

178,665

Eliminated on disposal

-

(1,139

)

(61,885

)

(63,024

)

At 31 March 2025

-

360,031

1,278,219

1,638,250

NET BOOK VALUE

At 31 March 2025

1,517,491

90,712

652,289

2,260,492

At 31 March 2024

1,517,491

112,946

741,135

2,371,572

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

and 31 March 2025

3

NET BOOK VALUE

At 31 March 2025

3

At 31 March 2024

3

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

2,900,000

Disposals

(2,900,000

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

2,900,000

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

251,485

253,044

Other debtors

1,893,697

1,564,254

2,145,182

1,817,298

9.	CURRENT ASSET INVESTMENTS

2025

2024

£

£

Cash equivalent current

investment

4,020,287

1,027,842

4,020,287

1,027,842

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

64,879

64,954

Trade creditors

387,508

195,507

Amounts owed to group undertakings

47,687

180

Taxation and social security

459,015

62,358

Other creditors

42,061

29,994

1,001,150

352,993

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

-

64,954

12.	RELATED PARTY DISCLOSURES

Other related parties

2025

2024

£

£

Amount due from related party

1,800,000

1,470,000