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Registration number: 05636274

EA & JA Hiscock Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2021

 

EA & JA Hiscock Limited

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 6

 

EA & JA Hiscock Limited

(Registration number: 05636274)
Abridged Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Intangible assets

4

2,966

-

Tangible assets

5

12,050,770

10,071,670

Other financial assets

6

195

195

 

12,053,931

10,071,865

Current assets

 

Stocks

382,839

390,682

Debtors

216,932

386,115

Cash at bank and in hand

 

246,105

218,104

 

845,876

994,901

Creditors: Amounts falling due within one year

7

(1,887,591)

(874,892)

Net current (liabilities)/assets

 

(1,041,715)

120,009

Total assets less current liabilities

 

11,012,216

10,191,874

Creditors: Amounts falling due after more than one year

8

(6,443,038)

(5,968,862)

Provisions for liabilities

(148,392)

(143,262)

Net assets

 

4,420,786

4,079,750

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

4,420,686

4,079,650

Total equity

 

4,420,786

4,079,750

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 5 September 2022 and signed on its behalf by:
 

Mrs J A Hiscock
Director

Mr E A Hiscock
Director

 
     
 

EA & JA Hiscock Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Armswell Farm
Plush
Dorchester
Dorset
DT2 7RN

These financial statements were authorised for issue by the Board on 5 September 2022.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

EA & JA Hiscock Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021


Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

2% straight line

Tractors and motor vehicles

25% reducing balance

Plant and machinery

20% reducing balance

Fixtures and fittings

15% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Intangible assets

25% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 the assets less the estimated selling price over their estimated useful ecomonic life. The depreciation rate used for the dairy herd is 20% straight line.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 19 (2020 - 19).

 

EA & JA Hiscock Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021

4

Intangible assets

Total
£

Cost or valuation

At 1 January 2021

97,095

Additions acquired separately

3,954

At 31 December 2021

101,049

Amortisation

At 1 January 2021

97,095

Amortisation charge

988

At 31 December 2021

98,083

Carrying amount

At 31 December 2021

2,966

5

Tangible assets

Total
£

Cost or valuation

At 1 January 2021

11,578,523

Additions

2,602,096

Disposals

(255,968)

At 31 December 2021

13,924,651

Depreciation

At 1 January 2021

1,511,870

Charge for the year

445,071

Eliminated on disposal

(83,060)

At 31 December 2021

1,873,881

Carrying amount

At 31 December 2021

12,050,770

At 31 December 2020

10,071,670

 

EA & JA Hiscock Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2021

195

195

At 31 December 2021

195

195

Carrying amount

At 31 December 2021

195

195

7

Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £365,500 (2020 - £295,067).

8

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £6,316,210 (2020 - £5,968,862).

Creditors include bank loans repayable by instalments of £4,792,710 (2020 - £4,930,751) due after more than five years.

 

EA & JA Hiscock Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021

9

Related party transactions

Transactions with directors

2021

At 1 January 2021
£

Advances to director
£

Repayments by director
£

At 31 December 2021
£

Mrs J A Hiscock

Advances and repayments including interest at official rate

29,951

426,877

(456,827)

-

         
       

Mr E A Hiscock

Advances and repayments including interest at official rate

29,951

426,877

(456,827)

-

         
       

 

2020

At 1 January 2020
£

Advances to director
£

Repayments by director
£

At 31 December 2020
£

Mrs J A Hiscock

Advances and repayments including interest at official rate

12,564

75,056

(57,670)

29,951

         
       

Mr E A Hiscock

Advances and repayments including interest at official rate

12,564

75,056

(57,670)

29,951