W Crowder and Sons Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 01069525 (England and Wales)

W CROWDER AND SONS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr W K R Crowder

Mr N Rudkin

Mr J S Carter

Mr S Hawtin

Ms A Draper

Mr E Hodges

Mr A Ryder

Mr I Strudwick

Mr D Thomas

SECRETARY:

S Evans

REGISTERED OFFICE:

Spring Lodge

172 Chester Road

Helsby

Cheshire

WA6 0AR

REGISTERED NUMBER:

01069525 (England and Wales)

ACCOUNTANTS:

Dexter & Sharpe

Chartered Certified Accountants

Rollestone House

20-22 Bridge Street

Horncastle

Lincolnshire

LN9 5HZ

FIXED ASSETS

Property, plant and equipment

4

2,057,764

1,888,585

CURRENT ASSETS

Inventories

1,603,013

2,044,680

Debtors

5

2,993,823

758,178

Cash at bank and in hand

1,045,919

61,185

5,642,755

2,864,043

CREDITORS

Amounts falling due within one year

6

4,106,087

1,592,101

NET CURRENT ASSETS

1,536,668

1,271,942

TOTAL ASSETS LESS CURRENT LIABILITIES

3,594,432

3,160,527

CREDITORS

Amounts falling due after more than one year

7

(75,928

)

(177,698

)

PROVISIONS FOR LIABILITIES

(312,888

)

(277,163

)

PENSION LIABILITY

-

(3,000

)

NET ASSETS

3,205,616

2,702,666

CAPITAL AND RESERVES

Called up share capital

8,065

8,065

Share premium

564,435

564,435

Revaluation reserve

820,820

820,820

Retained earnings

1,812,296

1,309,346

SHAREHOLDERS' FUNDS

3,205,616

2,702,666

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

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 26 April 2024 and were signed on its behalf by:

Mr N Rudkin - Director

1.	STATUTORY INFORMATION

W Crowder and Sons 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.

Turnover

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

Tangible fixed assets

The company's freehold land and buildings were revalued on 24th July 2012. The valuation was completed on an existing use basis, taking account of trading potential. The fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold Land

Nil

Freehold Buildings

Straight line basis over 50 years

Nursery and irrigation equipment

part

20% reducing balance basis

part

Straight line basis over 5 years

Fixtures, fittings and office equipment

part

25% reducing balance basis

part

Straight line basis over 3, 4 or 10 years

Computer software

Straight line basis over 4 years

Tractors

part

25% reducing balance basis

part

Straight line basis over 5 years

Motor vehicles

part

25% reducing balance basis

part

Straight line basis over 4 or 5 years

Tenant's fixtures

Straight line basis over 5 years

Stocks

Costs includes all direct costs and an appropriate proportion of fixed and variable overheads.

Taxation

Taxation for the period 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 period 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.

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 transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Operating Leases and Contract Hire

Rentals applicable to operating leases and contract hire agreements where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

Pensions

The Company operates a defined contribution pension scheme for its employees and the pension charge represents the amounts payable by the company to the fund in respect of the year. The Company also operates a defined contribution pension scheme for its directors only and the pension contributions are charged to the profit and loss account. The Company previously operated a defined benefit scheme for its employees but contributions were ceased on 30th June 2003.

Grants and contributions

Grants receivable in respect of tangible fixed assets are treated as deferred income which is credited to the profit and loss account over the estimated economic lives of the related assets. Grants receivable in respect of profit and loss expenditure are credited to the expenditure heading concerned in the year of receipt.

Debt factoring

The company assigns a certain amount of its trade debtors to its banker and receives payments from the bank in respect of the assigned debts but retains all significant risks. Accordingly trade debtors are shown gross of the finance received with the finance included in overdrafts due to its short term nature. All interest and charges are charged to the profit and loss as incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 52 (2022 - 51 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST OR VALUATION

At 1 October 2022

1,755,229

1,551,620

172,368

3,479,217

Additions

46,844

171,055

24,990

242,889

Disposals

-

(2,500

)

-

(2,500

)

At 31 March 2023

1,802,073

1,720,175

197,358

3,719,606

DEPRECIATION

At 1 October 2022

166,616

1,293,750

130,266

1,590,632

Charge for period

8,768

55,334

7,108

71,210

At 31 March 2023

175,384

1,349,084

137,374

1,661,842

NET BOOK VALUE

At 31 March 2023

1,626,689

371,091

59,984

2,057,764

At 30 September 2022

1,588,613

257,870

42,102

1,888,585

The company's freehold land and buildings were revalued on 24th July 2012 by Quinton Edwards, Newbury, Berkshire, an independent firm of Chartered Surveyors. The valuation was completed on an existing use basis, taking account of trading potential.

If freehold land, buildings and tenants fixtures had not been included at valuation they would have been included under the historical cost convention as follows:

2020

2019

£

£

Cost

702,651

702,651

Accumulated Depreciation

(348,140

)

(342,793

)

Net Book Value

354,421

359,858

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

2,646,721

590,908

Other debtors

347,102

167,270

2,993,823

758,178

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

-

125,212

Hire purchase contracts

88,238

73,953

Trade creditors

1,904,007

494,643

Taxation and social security

1,076,195

304,736

Other creditors

1,037,647

593,557

4,106,087

1,592,101

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

-

116,346

Hire purchase contracts

75,928

61,352

75,928

177,698

8.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank overdraft

-

77,069

Bank loans

-

164,489

Hire purchase contracts

164,166

135,305

164,166

376,863

The bank loans are secured by legal charges on the company's freehold land and property and a debenture over the company's assets.

Hire purchase contracts are secured on the assets to which they relate.

9.	FINANCIAL INSTRUMENTS

The company takes out forward currency contracts from time to time. There were no outstanding currency contracts at 31 March 2023.

10.	RELATED PARTY DISCLOSURES

During the period, total dividends of £150,220 were paid to the directors .

The Company was under the control of Mr W K R Crowder throughout the period and previous year.

The Company rents land from a farm owned by a director amounting to £2,738 (2022: £5,475). .

The dividend for the period of £150,220 (2022: £319,199) was paid to directors.

Family Pension Scheme

A loan has been made to the Company by the Family Pension Scheme. The balance due to the Family Pension Scheme at 31 March 2023 amounted to NIL (2022: £54,636).

The interest on the loan amounted to (£1,611) (2022: £1,028)

A rent of £1,050 (2022: £2,100) was charged by the Scheme for the period in respect of land owned by the Scheme and occupied by the Company.

11.	POST BALANCE SHEET EVENTS

On 9 June 2023 the entire share capital of the company was acquired by RSK Environment Limited. Following this event, W Crowder and Sons Limited is now a wholly owned subsidiary of RSK Environment Limited.

On 6 June 2023 the company filed a resolution at Companies House to reduce the issued share capital of the company.

The issued Class E Shares of £1.00 each were cancelled and extinguished.

On 9 August 2023 the company filed a notice at Companies House as follows:

3,700 issued A Ordinary Shares of £1.00 each were re-designated to 3,700 Ordinary Shares of £1.00 each.

1,300 issued B Ordinary Shares of £1.00 each were re-designated to 1,300 Ordinary Shares of £1.00 each.

565 issued Preference Shares of £1.00 each were re-designated to 565 Ordinary Shares of £1.00 each.

PENSION SCHEME DEFICIT BUY OUT

The company previously operated a defined benefit scheme for its employees but this was closed to new members from 30 June 2003.

On 5 June 2023 the company agreed, and paid, a figure to purchase an insurance policy via Just Group PLC to secure the member benefits and begin the process of winding up the scheme. The deficit buy-out totalled £497,587. This amount has been reserved in these financial statements within Other Creditors.