Company registration number 04952284 (England and Wales)
Beeston Hall Farms Limited
Unaudited
Financial Statements
for the year ended 31 December 2021
PAGES FOR FILING WITH REGISTRAR
Beeston Hall Farms Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Beeston Hall Farms Limited
Statement of financial position
as at 31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
197,336
165,698
Current assets
Stocks
156,128
87,000
Debtors
4
47,184
46,654
Cash at bank and in hand
3,182
58,480
206,494
192,134
Creditors: amounts falling due within one year
5
(225,425)
(158,101)
Net current (liabilities)/assets
(18,931)
34,033
Total assets less current liabilities
178,405
199,731
Creditors: amounts falling due after more than one year
6
(48,365)
(59,084)
Provisions for liabilities
7
(37,494)
(31,483)
Net assets
92,546
109,164
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
92,446
109,064
Total equity
92,546
109,164
Beeston Hall Farms Limited
Statement of financial position (continued)
as at 31 December 2021
- 2 -
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 10 August 2022
S Hallos
Director
Company Registration No. 04952284
Beeston Hall Farms Limited
Notes to the Financial Statements
for the year ended 31 December 2021
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the fair value, excluding value added tax, of sales made during the year and subsidies received in the normal course of business.
Turnover is recognised on a receipt basis.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
Not depreciated
Plant and machinery
15% reducing balance basis
Fixtures, fittings & equipment
15% reducing balance basis
Motor vehicles
25% reducing balance basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
No depreciation is provided on freehold land and buildings as it is the company's policy to maintain the assets in a continued state of repair.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Beeston Hall Farms Limited
Notes to the Financial Statements (continued)
for the year ended 31 December 2021
1
Accounting policies
(continued)
- 4 -
Deferred tax
Deferred tax is recognised on all timing differences between the carrying amount of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is the settled or the asset is realised, based on tax rates that have been enacted or substantively enacted by the end of the reporting period.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Leases
Assets obtained under hire purchase contracts are capitalised as tangible assets and depreciated over their useful lives. 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 on a straight line basis over the period of the lease.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
3
3
3
Tangible fixed assets
Freehold land and buildings
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2021
34,000
188,205
27,888
59,427
309,520
Additions
27,500
35,525
63,025
Disposals
(25,527)
(25,527)
At 31 December 2021
34,000
215,705
27,888
69,425
347,018
Depreciation and impairment
At 1 January 2021
88,872
17,625
37,325
143,822
Depreciation charged in the year
16,962
1,539
7,316
25,817
Eliminated in respect of disposals
(19,957)
(19,957)
At 31 December 2021
105,834
19,164
24,684
149,682
Carrying amount
At 31 December 2021
34,000
109,871
8,724
44,741
197,336
At 31 December 2020
34,000
99,333
10,263
22,102
165,698
Beeston Hall Farms Limited
Notes to the Financial Statements (continued)
for the year ended 31 December 2021
- 5 -
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Corporation tax recoverable
4,921
Other debtors
2,427
6,818
Prepayments and accrued income
39,836
39,836
47,184
46,654
5
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
56,802
5,000
Obligations under finance leases
24,513
15,334
Trade creditors
18,020
13,797
Corporation tax
4,921
Other taxation and social security
921
Other creditors
53,136
46,909
Accruals and deferred income
72,033
72,140
225,425
158,101
Bank borrowings are secured against the assets of the company and by personal guarantees of the director. Net obligations under hire purchase contracts are secured on the assets to which they relate.
6
Creditors: amounts falling due after more than one year
2021
2020
Notes
£
£
Bank loans and overdrafts
33,117
45,000
Obligations under finance leases
15,248
14,084
48,365
59,084
Bank borrowings are secured against the assets of the company and by personal guarantees of the director. Net obligations under hire purchase contracts are secured on the assets to which they relate.
7
Provisions for liabilities
2021
2020
£
£
Deferred tax liabilities
37,494
31,483
8
Company information
Beeston Hall Farms Limited is a private company limited by shares incorporated in England and Wales. The registered office is Beeston Hall Farm, Rochdale Road, Ripponden, Sowerby Bridge, HX6 4LW.