Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2021-04-01No description of principal activitytruefalse45true 11403519 2021-04-01 2022-03-31 11403519 2020-04-01 2021-03-31 11403519 2022-03-31 11403519 2021-03-31 11403519 c:Director1 2021-04-01 2022-03-31 11403519 c:Director2 2021-04-01 2022-03-31 11403519 d:PlantMachinery 2021-04-01 2022-03-31 11403519 d:PlantMachinery 2022-03-31 11403519 d:PlantMachinery 2021-03-31 11403519 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 11403519 d:FurnitureFittings 2021-04-01 2022-03-31 11403519 d:FurnitureFittings 2022-03-31 11403519 d:FurnitureFittings 2021-03-31 11403519 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 11403519 d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 11403519 d:CurrentFinancialInstruments 2022-03-31 11403519 d:CurrentFinancialInstruments 2021-03-31 11403519 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11403519 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 11403519 d:ShareCapital 2022-03-31 11403519 d:ShareCapital 2021-03-31 11403519 d:RetainedEarningsAccumulatedLosses 2022-03-31 11403519 d:RetainedEarningsAccumulatedLosses 2021-03-31 11403519 c:FRS102 2021-04-01 2022-03-31 11403519 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 11403519 c:FullAccounts 2021-04-01 2022-03-31 11403519 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 11403519










BORDER FARMING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2022

 
BORDER FARMING LIMITED
REGISTERED NUMBER:11403519

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
297,076
306,040

  
297,076
306,040

Current assets
  

Debtors: amounts falling due within one year
 5 
27,693
200,236

Cash at bank and in hand
  
321,240
107,403

  
348,933
307,639

Creditors: amounts falling due within one year
 6 
(55,790)
(63,606)

Net current assets
  
 
 
293,143
 
 
244,033

Total assets less current liabilities
  
590,219
550,073

Provisions for liabilities
  

Deferred tax
  
(74,269)
(58,148)

  
 
 
(74,269)
 
 
(58,148)

Net assets
  
515,950
491,925


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
515,850
491,825

  
515,950
491,925


Page 1

 
BORDER FARMING LIMITED
REGISTERED NUMBER:11403519
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2022

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 statement of income and retained earnings 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: 




................................................
R J Pilch
................................................
Miss S E Hawes
Director
Director


Date: 17 August 2022

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
BORDER FARMING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1.


General information

Border Farming Limited is a private company limited by shares and incorporated in England and Wales, registration number 11403519. The registered office is Black Horse Farm, Syleham, Eye, Suffolk, England, IP21 4LP. 

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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
BORDER FARMING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

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 4

 
BORDER FARMING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)


2.6
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:

Plant and machinery
-
15%
Reducing balance
Tractors
-
20%
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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

Page 5

 
BORDER FARMING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2021 - 5).


4.


Tangible fixed assets





Plant and machinery
Tractors
Total

£
£
£



Cost or valuation


At 1 April 2021
317,564
83,365
400,929


Additions
18,114
29,800
47,914



At 31 March 2022

335,678
113,165
448,843



Depreciation


At 1 April 2021
57,407
37,482
94,889


Charge for the year on owned assets
41,741
15,137
56,878



At 31 March 2022

99,148
52,619
151,767



Net book value



At 31 March 2022
236,530
60,546
297,076



At 31 March 2021
260,157
45,883
306,040

Page 6

 
BORDER FARMING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

5.


Debtors

2022
2021
£
£


Trade debtors
25,858
17,369

Amounts owed by joint ventures and associated undertakings
-
182,767

Other debtors
1,835
100

27,693
200,236



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
-
50,000

Trade creditors
3,676
654

Amounts owed to joint ventures
37,083
-

Corporation tax
13,396
3,154

Other taxation and social security
-
8,208

Accruals and deferred income
1,635
1,590

55,790
63,606



7.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £1,968 (2021: £1,488). 

 
Page 7