G E Symms & Son Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06503728 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

G E SYMMS & SON LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R G Symms

J Symms

REGISTERED OFFICE:

Batsons Farm

Adber

Sherborne

Dorset

DT9 4SG

REGISTERED NUMBER:

06503728 (England and Wales)

ACCOUNTANTS:

Evans & Co

Manchester House

High Street

Stalbridge

Sturminster Newton

Dorset

DT10 2LL

FIXED ASSETS

Intangible assets

5

-

4,125

Tangible assets

6

1,612,096

1,206,523

Investment property

7

332,703

332,703

Biological assets

8

266,279

262,506

2,211,078

1,805,857

CURRENT ASSETS

Stocks

237,374

199,300

Debtors

149,154

98,416

Cash at bank

92,938

24,751

479,466

322,467

CREDITORS

Amounts falling due within one year

424,536

461,546

NET CURRENT ASSETS/(LIABILITIES)

54,930

(139,079

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,266,008

1,666,778

CREDITORS

Amounts falling due after more than one year

9

(1,644,957

)

(1,238,962

)

PROVISIONS FOR LIABILITIES

(89,421

)

(61,397

)

NET ASSETS

531,630

366,419

CAPITAL AND RESERVES

Called up share capital

11

100

100

Revaluation reserve

12

163,894

163,894

Retained earnings

367,636

202,425

SHAREHOLDERS' FUNDS

531,630

366,419

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 15 December 2023 and were signed on its behalf by:

R G Symms - Director

1.	STATUTORY INFORMATION

G E Symms & Son 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Basic payment scheme (BPS) entitlements are initially recognised at cost. Both purchased and granted entitlements are subsequently measured at cost less accumulated amortisation and impairment losses. For granted BPS, deferred income is released to the profit and loss at the same rate at which the intangible asset is amortised.

The amortisation method and rate is as follows:

8 years straight line

Tangible assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Improvements to property

-

5% on reducing balance

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

Biological Assets

Biological assets held for continuing use within the business are classified as fixed assets. Such assets are measured at cost less accumulated depreciation and impairment.

Assets within the classification comprise a dairy herd.

Depreciation is charged to write off the cost of assets less estimated selling price over their estimated useful economic life.

The depreciation rate used for the dairy herd is 25% straight line.

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 at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

5.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2022

and 31 March 2023

51,000

AMORTISATION

At 1 April 2022

46,875

Amortisation for year

4,125

At 31 March 2023

51,000

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

4,125

6.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2022

1,693,840

Additions

536,864

Disposals

(4,700

)

At 31 March 2023

2,226,004

DEPRECIATION

At 1 April 2022

487,317

Charge for year

130,202

Eliminated on disposal

(3,611

)

At 31 March 2023

613,908

NET BOOK VALUE

At 31 March 2023

1,612,096

At 31 March 2022

1,206,523

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 April 2022

164,300

Additions

56,750

Transfer to ownership

(12,000

)

At 31 March 2023

209,050

DEPRECIATION

At 1 April 2022

72,509

Charge for year

22,281

Transfer to ownership

(4,631

)

At 31 March 2023

90,159

NET BOOK VALUE

At 31 March 2023

118,891

At 31 March 2022

91,791

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

and 31 March 2023

332,703

NET BOOK VALUE

At 31 March 2023

332,703

At 31 March 2022

332,703

The director considers the fair value of investment property to be unchanged at 31 March 2023.

8.	BIOLOGICAL ASSETS

Dairy

herd

£

COST

At 1 April 2022

361,210

Additions

136,000

Disposals

(134,400

)

At 31 March 2023

362,810

DEPRECIATION

At 1 April 2022

98,704

Charge for year

51,152

Eliminated on disposal

(53,325

)

At 31 March 2023

96,531

NET BOOK VALUE

At 31 March 2023

266,279

At 31 March 2022

262,506

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2023

2022

£

£

Repayable by instalments

Bank loans more 5 yr by instal

1,387,935

1,030,812

10.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Hire purchase contracts

41,649

44,977

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary

£1

100

100

12.

RESERVES

Revaluation

reserve

£

At 1 April 2022

and 31 March 2023

163,894