Caseware UK (AP4) 2021.0.152 2021.0.152 2021-08-312021-08-31trueFarming2020-09-01false00trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09195229 2020-09-01 2021-08-31 09195229 2019-09-01 2020-08-31 09195229 2021-08-31 09195229 2020-08-31 09195229 c:Director2 2020-09-01 2021-08-31 09195229 d:Buildings d:LongLeaseholdAssets 2020-09-01 2021-08-31 09195229 d:Buildings d:LongLeaseholdAssets 2021-08-31 09195229 d:Buildings d:LongLeaseholdAssets 2020-08-31 09195229 d:PlantMachinery 2020-09-01 2021-08-31 09195229 d:PlantMachinery 2021-08-31 09195229 d:PlantMachinery 2020-08-31 09195229 d:PlantMachinery d:OwnedOrFreeholdAssets 2020-09-01 2021-08-31 09195229 d:MotorVehicles 2020-09-01 2021-08-31 09195229 d:MotorVehicles 2021-08-31 09195229 d:MotorVehicles 2020-08-31 09195229 d:MotorVehicles d:OwnedOrFreeholdAssets 2020-09-01 2021-08-31 09195229 d:OfficeEquipment 2020-09-01 2021-08-31 09195229 d:OfficeEquipment 2021-08-31 09195229 d:OfficeEquipment 2020-08-31 09195229 d:OfficeEquipment d:OwnedOrFreeholdAssets 2020-09-01 2021-08-31 09195229 d:OwnedOrFreeholdAssets 2020-09-01 2021-08-31 09195229 d:CurrentFinancialInstruments 2021-08-31 09195229 d:CurrentFinancialInstruments 2020-08-31 09195229 d:Non-currentFinancialInstruments 2021-08-31 09195229 d:Non-currentFinancialInstruments 2020-08-31 09195229 d:CurrentFinancialInstruments d:WithinOneYear 2021-08-31 09195229 d:CurrentFinancialInstruments d:WithinOneYear 2020-08-31 09195229 d:Non-currentFinancialInstruments d:AfterOneYear 2021-08-31 09195229 d:Non-currentFinancialInstruments d:AfterOneYear 2020-08-31 09195229 d:ShareCapital 2021-08-31 09195229 d:ShareCapital 2020-08-31 09195229 d:RetainedEarningsAccumulatedLosses 2021-08-31 09195229 d:RetainedEarningsAccumulatedLosses 2020-08-31 09195229 c:OrdinaryShareClass1 2020-09-01 2021-08-31 09195229 c:OrdinaryShareClass1 2021-08-31 09195229 c:OrdinaryShareClass1 2020-08-31 09195229 c:FRS102 2020-09-01 2021-08-31 09195229 c:AuditExempt-NoAccountantsReport 2020-09-01 2021-08-31 09195229 c:FullAccounts 2020-09-01 2021-08-31 09195229 c:PrivateLimitedCompanyLtd 2020-09-01 2021-08-31 09195229 2 2020-09-01 2021-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09195229









DENHAM VICARAGE FARM LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2021

 
DENHAM VICARAGE FARM LIMITED
REGISTERED NUMBER: 09195229

BALANCE SHEET
AS AT 31 AUGUST 2021

2021
2020
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
138,804
164,198

  
138,804
164,198

CURRENT ASSETS
  

Stocks
  
222,502
217,615

Debtors: amounts falling due within one year
 5 
1,071,824
404,109

Cash at bank and in hand
  
27,126
98,349

  
1,321,452
720,073

Creditors: amounts falling due within one year
 6 
(1,336,134)
(925,584)

NET CURRENT LIABILITIES
  
 
 
(14,682)
 
 
(205,511)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
124,122
(41,313)

Creditors: amounts falling due after more than one year
 7 
(41,667)
-

  

NET ASSETS/(LIABILITIES)
  
82,455
(41,313)


CAPITAL AND RESERVES
  

Called up share capital 
 8 
1
1

Profit and loss account
  
82,454
(41,314)

  
82,455
(41,313)


Page 1

 
DENHAM VICARAGE FARM LIMITED
REGISTERED NUMBER: 09195229
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



Mr W R Stanton
Director

Date: 15 August 2022

Page 2

 
DENHAM VICARAGE FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021

1.


GENERAL INFORMATION

The Company is a private company limited by shares and incorporated in England and Wales. The address of the registered office is Denham Vicarage Farm, Denham, Bury St Edmunds, Suffolk, IP29 5EF.
The functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The Company had net assets of £82,455 as at 31 August 2021 (2020: net liabilities of £41,343). The Financial Statements are prepared on the going concern basis on the assumption that the Company will continue to receive financial support from its shareholder, to provide sufficient funds to enable it to meet its liabilites as the fall due.

 
2.3

TURNOVER

Turnover comprises revenue recognised by the Company in respect of income from the sale of crops and related farming subsidies, income from contract work done and management services rendered during the year. 
Income from the sale of crops and related goods is recognised on despatch of goods.
Income from the sale of services in respect of contract work done and management fees is recognised on the date the work was completed.
Income is respect of farming subsidies is recognised on payment.

 
2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
DENHAM VICARAGE FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021

2.ACCOUNTING POLICIES (CONTINUED)


2.4
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property
-
10%
Straight line
Plant and machinery
-
20%
Reducing balance
Motor vehicles
-
20%
Reducing balance
Office equipment
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Stocks are valued in accordance with the Guidance Notes of the RICS/CAAV and the HMRC Business Economics Notes BEN 19.

 
2.6

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
DENHAM VICARAGE FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021

2.ACCOUNTING POLICIES (CONTINUED)

 
2.9

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.

 
2.10

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.12

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.


3.


EMPLOYEES

The Company has no employees other than the directors, who did not receive any remuneration (2020 - £NIL).

Page 5

 
DENHAM VICARAGE FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021

4.


TANGIBLE FIXED ASSETS





Long-term leasehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



COST OR VALUATION


At 1 September 2020
114,862
154,805
18,995
529
289,191


Additions
-
4,815
-
-
4,815



At 31 August 2021

114,862
159,620
18,995
529
294,006



DEPRECIATION


At 1 September 2020
41,595
71,822
11,345
231
124,993


Charge for the year on owned assets
11,486
17,118
1,530
75
30,209



At 31 August 2021

53,081
88,940
12,875
306
155,202



NET BOOK VALUE



At 31 August 2021
61,781
70,680
6,120
223
138,804



At 31 August 2020
73,267
82,983
7,650
298
164,198

Page 6

 
DENHAM VICARAGE FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021

5.


DEBTORS

2021
2020
£
£


Trade debtors
352,052
381,754

Other debtors
693,402
9,257

Prepayments and accrued income
26,370
13,098

1,071,824
404,109


Included within other debtors is an amount due from the directors of £687,360. Interest was charged at 2.5% per annum and this balance has been repaid in full within 9 months of the year end.


6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021
2020
£
£

Bank loans
8,333
-

Trade creditors
2,303
34,297

Other creditors
1,252,660
831,198

Accruals and deferred income
72,838
60,089

1,336,134
925,584


Included in bank loans is a Government backed 'bounce back' loan of £8,333 (2020 - £NIL), which was drawn down in October 2020. This loan is 100% guaranteed by the Government and there will be no fees or interest payable by the Company in the first 12 months. After this 12 month period, interest will be charged at 2.5% per annum. The first instalment is due in November 2021.


7.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021
2020
£
£

Bank loans
41,667
-

41,667
-


Included in bank loans is a Government backed 'bounce back' loan of £41,667 (2020 - £NIL), which was drawn down in October 2020. This loan is 100% guaranteed by the Government and there will be no fees or interest payable by the Company in the first 12 months. After this 12 month period, interest will be charged at 2.5% per annum. The first instalment is due in November 2021.

Page 7

 
DENHAM VICARAGE FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021

8.


SHARE CAPITAL

2021
2020
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1 (2020 - 1) Ordinary share of £1.00
1
1



9.OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies that are not included in the balance sheet amount to £60,000 (2020 - £68,772).

 
Page 8