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REGISTERED NUMBER: 00494698 (England and Wales)















R. HARDY (VEGETABLES) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2022






R. HARDY (VEGETABLES) LIMITED (REGISTERED NUMBER: 00494698)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 6


R. HARDY (VEGETABLES) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2022







DIRECTORS: C R Hardy
R Hardy
Mrs M M Hardy
Miss L Harrison



SECRETARY: R Hardy



REGISTERED OFFICE: Willoughby House
Fishtoft
Boston
Lincolnshire
PE21 9SA



REGISTERED NUMBER: 00494698 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
5 Resolution Close
Endeavour Park
Boston
Lincolnshire
PE21 7TT



SOLICITORS: Roythornes
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR

R. HARDY (VEGETABLES) LIMITED (REGISTERED NUMBER: 00494698)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,984,180 2,255,671
Investments 6 46,702 217,261
Investment property 7 260,000 260,000
2,290,882 2,732,932

CURRENT ASSETS
Valuation 1,859,507 1,619,248
Debtors 8 391,681 1,445,425
Cash at bank and in hand 1,195,605 243,227
3,446,793 3,307,900
CREDITORS
Amounts falling due within one year 9 1,643,784 1,799,433
NET CURRENT ASSETS 1,803,009 1,508,467
TOTAL ASSETS LESS CURRENT LIABILITIES 4,093,891 4,241,399

PROVISIONS FOR LIABILITIES 327,267 314,503
NET ASSETS 3,766,624 3,926,896

CAPITAL AND RESERVES
Called up share capital 10 1,400 1,400
Retained earnings 3,765,224 3,925,496
SHAREHOLDERS' FUNDS 3,766,624 3,926,896

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 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 August 2022 and were signed on its behalf by:




R Hardy - Director


R. HARDY (VEGETABLES) LIMITED (REGISTERED NUMBER: 00494698)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

1. STATUTORY INFORMATION

R. Hardy (Vegetables) Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Turnover represents net accrued invoiced sales of goods, excluding value added tax.

Sales of crops are recognised on despatch.

Intangible assets
Basic Payment Scheme Entitlements have been capitalised in the accounts at cost and are being amortised on a straight line basis until December 2019.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and at variable rates on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Valuation
Stock represents the farm valuation, which has been prepared by the directors at the lower of cost and estimated selling price less costs to sell.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 the income statement in the period to which they relate.

R. HARDY (VEGETABLES) LIMITED (REGISTERED NUMBER: 00494698)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022

2. ACCOUNTING POLICIES - continued

Investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.

Current asset investments are valued at fair value.

Basic payment scheme
The basic payment scheme is recognised in the financial statements in accordance with current H M Revenue & Customs guidance.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2021 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2021
and 31 January 2022 104,158
AMORTISATION
At 1 February 2021
and 31 January 2022 104,158
NET BOOK VALUE
At 31 January 2022 -
At 31 January 2021 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2021 6,001,422
Additions 105,683
At 31 January 2022 6,107,105
DEPRECIATION
At 1 February 2021 3,745,751
Charge for year 377,174
At 31 January 2022 4,122,925
NET BOOK VALUE
At 31 January 2022 1,984,180
At 31 January 2021 2,255,671

R. HARDY (VEGETABLES) LIMITED (REGISTERED NUMBER: 00494698)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 February 2021 217,261
Additions 28,497
Disposals (199,056 )
At 31 January 2022 46,702
NET BOOK VALUE
At 31 January 2022 46,702
At 31 January 2021 217,261

Cost or valuation at 31 January 2022 is represented by:

Other
investments
£   
Valuation in 2022 46,702

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2021
and 31 January 2022 260,000
NET BOOK VALUE
At 31 January 2022 260,000
At 31 January 2021 260,000

Fair value at 31 January 2022 is represented by:
£   
Valuation in 2020 260,000

If investment property had not been revalued it would have been included at the following historical cost:

2022 2021
£    £   
Cost 196,498 196,498

Investment property was valued on an open market basis on 21 January 2020 by Fairweather Estate Agents .

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 290,182 380,704
Other debtors 1,963 289
Tax 76 -
VAT 22,349 -
Prepayments and accrued income 77,111 1,064,432
391,681 1,445,425

R. HARDY (VEGETABLES) LIMITED (REGISTERED NUMBER: 00494698)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 426,291 169,396
Amounts owed to group undertakings 1,172,564 1,372,564
Social security and other taxes 5,318 5,309
VAT - 20,672
Other creditors 39,611 231,492
1,643,784 1,799,433

10. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
1,400 Ordinary 1 1,400 1,400