Cressy's Grains (Holdings) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00397532 (England and Wales)

Cressy's Grains (Holdings) Ltd

Unaudited Financial Statements

For The Year Ended 30 June 2021

Page

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

4

Notes to the Financial Statements

5

DIRECTORS:

P J Green

S P Green

J R Eastwood

C R J Green

I H Stanistreet

SECRETARY:

J A Wood

REGISTERED OFFICE:

c/o DJH Mitten Clarke

2nd Floor, St George's House

56 Peter Street

Manchester

M2 3NQ

REGISTERED NUMBER:

00397532 (England and Wales)

ACCOUNTANTS:

DJH Mitten Clarke Manchester Limited

Chartered Accountants

St George's House

56 Peter Street

Manchester

M2 3NQ

BANKERS:

Royal Bank of Scotland

15 Foregate Street

Chester

Cheshire

CH1 1HD

FIXED ASSETS

Tangible assets

4

1,192,500

1,200,000

Investments

5

1,100

1,100

1,193,600

1,201,100

CURRENT ASSETS

Debtors

6

53,684

52,788

Investments

7

322,827

122,735

Cash at bank

320,334

486,258

696,845

661,781

CREDITORS

Amounts falling due within one year

8

59,045

20,144

NET CURRENT ASSETS

637,800

641,637

TOTAL ASSETS LESS CURRENT LIABILITIES

1,831,400

1,842,737

PROVISIONS FOR LIABILITIES

64,759

64,757

NET ASSETS

1,766,641

1,777,980

CAPITAL AND RESERVES

Called up share capital

21,250

21,250

Revaluation reserve

868,174

872,719

Fair value reserve

11,698

24,715

Retained earnings

865,519

859,296

SHAREHOLDERS' FUNDS

1,766,641

1,777,980

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 8 November 2021 and were signed on its behalf by:

P J Green - Director

Called up

Fair

share

Retained

Revaluation

value

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 July 2019

21,250

823,429

830,520

28,471

1,703,670

Changes in equity

Dividends

-

(10,625

)

-

-

(10,625

)

Total comprehensive income

-

46,492

42,199

(3,756

)

84,935

Balance at 30 June 2020

21,250

859,296

872,719

24,715

1,777,980

Changes in equity

Dividends

-

(10,625

)

-

-

(10,625

)

Total comprehensive income

-

16,848

(4,545

)

(13,017

)

(714

)

Balance at 30 June 2021

21,250

865,519

868,174

11,698

1,766,641

1.	STATUTORY INFORMATION

Cressy's Grains (Holdings) Ltd 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

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

After making enquiries the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason it continues to adopt the going concern basis in the financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

The turnover shown in the profit and loss accounts represents rental income received during the year and management charges exclusive of Valued Added Tax. Income is recognised at the point at which the company has fulfilled its obligation to the tenants and takes into consideration discounts, settlement discounts and rebates.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2.5% on reducing balance

Investment properties

-

not provided

Fixtures and fittings

-

10% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The following assets and liabilities are classed as financial instruments - trade debtors, trade creditors and intercompany loans. They are all measured at the undiscounted amount of cash or other consideration expected to be paid or received.

Current asset listed investments are also classed as financial instruments and are recognised at fair value through the profit and loss account. As changes in market value are unrealised and non-distributable, gains and losses are recognised through the fair value reserve.

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.

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.

Basis of non-consolidation

The subsidiaries, Cressy's Grains Limited and Cressy's Feeds Limited, have not been consolidated because, in the directors' opinion, the group is a small group as defined by Companies Act 2006. The financial statements contain information about Cressy's Grains (Holdings) Limited as an individual company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Investment

and

property

properties

fittings

Totals

£

£

£

£

COST OR VALUATION

At 1 July 2020

and 30 June 2021

300,000

900,000

466

1,200,466

DEPRECIATION

At 1 July 2020

-

-

466

466

Charge for year

7,500

-

-

7,500

At 30 June 2021

7,500

-

466

7,966

NET BOOK VALUE

At 30 June 2021

292,500

900,000

-

1,192,500

At 30 June 2020

300,000

900,000

-

1,200,000

Cost or valuation at 30 June 2021 is represented by:

Fixtures

Freehold

Investment

and

property

properties

fittings

Totals

£

£

£

£

Valuation in 2012

219,112

649,754

-

868,866

Valuation in 2020

(37,277

)

30,000

-

(7,277

)

Cost

118,165

220,246

466

338,877

300,000

900,000

466

1,200,466

All properties were valued at 30 June 2020 by Scanlans Property Management LLP, Chartered Surveyors, at an open market value of £1,200,000.

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2020

and 30 June 2021

1,100

NET BOOK VALUE

At 30 June 2021

1,100

At 30 June 2020

1,100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Amounts owed by group undertakings

45,382

45,148

Prepayments and accrued income

8,302

7,640

53,684

52,788

7.	CURRENT ASSET INVESTMENTS

2021

2020

£

£

Listed investments

322,827

122,735

The cost of listed investments at 30 June 2021 was £311,130 (2019: £98,020)

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Social security and other taxes

682

858

Accrued expenses

58,363

19,286

59,045

20,144

9.	ULTIMATE CONTROLLING PARTY

By virtue of the shareholdings, the directors are of the opinion that there is no one controlling party of the entity.

10.	CURRENT TRADING POSITION

Cressy's Grains ( Holdings) Ltd ( CGH)

Last year we have offered 50% of Row of Trees Offices with a small storage area adjacent to the Garage to an electrical contractor. This matter is in solicitors hands and a draft lease is out.

The 50% of the office to be used by the prospective tenants has been totally refurbished and the front yard gates have been replaced and improved. A steel staircase has been installed over the rear wall for fire escape and general access to the field area to the rear.

An investment of over £300,000 in investment funds and structured investments was made in May 2021 via stockbrokers Brewin Dolphin. The value improvement for the two months to 30 June is shown in the Accounts at £11,697.

Cressy's Grains Ltd ( CGL)

With Covid the trading side of the Animal Feed Business had to be further reduced over the 12 months to 30 June 2021. Furlough assistance was obtained during this period.

We are hopeful the two tipper vehicles will make an attractive contribution for the rest of this financial year to 30 June 2022. This will of course depend on how the pandemic is contained going forward

Group Results for the year to 30 June 2021( Group)

The group net loss before tax credits is £6,863, and the significant figure affecting this is the £7,500 charged to depreciation on the Row of Trees Garage and Office premises. The directors feel the premises are included in the Accounts at a very conservative figure. This depreciation may well be reduced next year.

As the rules were changed during the Covid restrictions it is now possible for us to get the corporation tax back we paid in 2018 amounting to £3,545.

Cressy's Feeds Ltd (CF)

This company remains dormant.