IRIS Accounts Production v22.1.4.3 04849246 Board of Directors 1.1.21 31.12.21 31.12.21 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure048492462020-12-31048492462021-12-31048492462021-01-012021-12-31048492462019-12-31048492462020-01-012020-12-31048492462020-12-3104849246ns16:EnglandWales2021-01-012021-12-3104849246ns15:PoundSterling2021-01-012021-12-3104849246ns11:Director12021-01-012021-12-3104849246ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3104849246ns11:SmallEntities2021-01-012021-12-3104849246ns11:AuditExempt-NoAccountantsReport2021-01-012021-12-3104849246ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3104849246ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3104849246ns11:FullAccounts2021-01-012021-12-3104849246ns6:JointVenture12021-01-012021-12-3104849246ns11:Director22021-01-012021-12-3104849246ns11:Director32021-01-012021-12-3104849246ns11:Director42021-01-012021-12-3104849246ns11:CompanySecretary12021-01-012021-12-3104849246ns11:RegisteredOffice2021-01-012021-12-3104849246ns6:CurrentFinancialInstruments2021-12-3104849246ns6:CurrentFinancialInstruments2020-12-3104849246ns6:Non-currentFinancialInstruments2021-12-3104849246ns6:Non-currentFinancialInstruments2020-12-3104849246ns6:ShareCapital2021-12-3104849246ns6:ShareCapital2020-12-3104849246ns6:RetainedEarningsAccumulatedLosses2021-12-3104849246ns6:RetainedEarningsAccumulatedLosses2020-12-3104849246ns6:OwnedOrFreeholdAssetsns6:LandBuildings2021-01-012021-12-3104849246ns6:PlantMachinery2021-01-012021-12-3104849246ns6:FurnitureFittings2021-01-012021-12-3104849246ns6:MotorVehicles2021-01-012021-12-3104849246ns6:LandBuildings2020-12-3104849246ns6:PlantMachinery2020-12-3104849246ns6:FurnitureFittings2020-12-3104849246ns6:MotorVehicles2020-12-3104849246ns6:LandBuildings2021-01-012021-12-3104849246ns6:LandBuildings2021-12-3104849246ns6:PlantMachinery2021-12-3104849246ns6:FurnitureFittings2021-12-3104849246ns6:MotorVehicles2021-12-3104849246ns6:LandBuildings2020-12-3104849246ns6:PlantMachinery2020-12-3104849246ns6:FurnitureFittings2020-12-3104849246ns6:MotorVehicles2020-12-3104849246ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2020-12-3104849246ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2020-12-3104849246ns6:LeasedAssetsHeldAsLessee2020-12-3104849246ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2021-01-012021-12-3104849246ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2021-01-012021-12-3104849246ns6:LeasedAssetsHeldAsLessee2021-01-012021-12-3104849246ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2021-12-3104849246ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2021-12-3104849246ns6:LeasedAssetsHeldAsLessee2021-12-3104849246ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2020-12-3104849246ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2020-12-3104849246ns6:LeasedAssetsHeldAsLessee2020-12-3104849246ns6:CostValuation2020-12-3104849246ns6:JointVenture112021-01-012021-12-3104849246ns6:JointVenture12021-12-3104849246ns6:JointVenture12020-12-3104849246ns6:JointVenture12020-01-012020-12-3104849246ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3104849246ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-3104849246ns6:Secured2021-12-3104849246ns6:Secured2020-12-3104849246ns6:DeferredTaxation2020-12-3104849246ns6:DeferredTaxation2021-01-012021-12-3104849246ns6:DeferredTaxation2021-12-31048492463ns11:Director32020-12-31048492463ns11:Director32019-12-31048492463ns11:Director32021-01-012021-12-31048492463ns11:Director32020-01-012020-12-31048492463ns11:Director32021-12-31048492463ns11:Director32020-12-31
REGISTERED NUMBER: 04849246 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

GRANGE FARMS LIMITED

GRANGE FARMS LIMITED (REGISTERED NUMBER: 04849246)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GRANGE FARMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: D H Solley
Mrs S V Solley
M J H Solley
Mrs E V Baker



SECRETARY: Mrs S V Solley



REGISTERED OFFICE: South Stour Offices
Roman Road
Mersham
Ashford
Kent
TN25 7HS



BUSINESS ADDRESS: Mongeham Farm
Northbourne Road
Great Mongeham
Deal
Kent
CT14 0HB



REGISTERED NUMBER: 04849246 (England and Wales)



ACCOUNTANTS: Cassidys Chartered Accountants
South Stour Offices
Roman Road
Mersham
Ashford
Kent
TN25 7HS



SOLICITORS: Furley Page
39, St Margaret's Street
Canterbury
Kent
CT1 2TX

GRANGE FARMS LIMITED (REGISTERED NUMBER: 04849246)

BALANCE SHEET
31 DECEMBER 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,450,948 6,296,748
Investments 5 150,000 150,000
6,600,948 6,446,748

CURRENT ASSETS
Stocks 282,807 378,653
Debtors 6 480,770 665,817
Investments 7 20 20
Cash at bank and in hand 143,849 20
907,446 1,044,510
CREDITORS
Amounts falling due within one year 8 391,089 293,222
NET CURRENT ASSETS 516,357 751,288
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,117,305

7,198,036

CREDITORS
Amounts falling due after more than one year 9 (2,441,473 ) (2,740,755 )

PROVISIONS FOR LIABILITIES 11 (67,706 ) (54,418 )
NET ASSETS 4,608,126 4,402,863

CAPITAL AND RESERVES
Called up share capital 1,877,000 1,877,000
Retained earnings 2,731,126 2,525,863
SHAREHOLDERS' FUNDS 4,608,126 4,402,863

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

GRANGE FARMS LIMITED (REGISTERED NUMBER: 04849246)

BALANCE SHEET - continued
31 DECEMBER 2021


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 12 September 2022 and were signed on its behalf by:





D H Solley - Director


GRANGE FARMS LIMITED (REGISTERED NUMBER: 04849246)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. STATUTORY INFORMATION

Grange Farms 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 20% on reducing balance, 15% on reducing balance and 10% on cost
Fixtures and fittings - 25% on cost and 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

GRANGE FARMS LIMITED (REGISTERED NUMBER: 04849246)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2020 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2021 6,071,139 564,506 7,351 76,540 6,719,536
Additions 99,461 174,471 - - 273,932
Disposals - (100,000 ) - - (100,000 )
At 31 December 2021 6,170,600 638,977 7,351 76,540 6,893,468
DEPRECIATION
At 1 January 2021 60,800 308,372 6,978 46,638 422,788
Charge for year 15,200 45,199 179 7,474 68,052
Eliminated on disposal - (48,320 ) - - (48,320 )
At 31 December 2021 76,000 305,251 7,157 54,112 442,520
NET BOOK VALUE
At 31 December 2021 6,094,600 333,726 194 22,428 6,450,948
At 31 December 2020 6,010,339 256,134 373 29,902 6,296,748

GRANGE FARMS LIMITED (REGISTERED NUMBER: 04849246)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2021 44,850 26,684 71,534
Additions 163,500 - 163,500
At 31 December 2021 208,350 26,684 235,034
DEPRECIATION
At 1 January 2021 3,152 7,922 11,074
Charge for year 19,743 4,690 24,433
At 31 December 2021 22,895 12,612 35,507
NET BOOK VALUE
At 31 December 2021 185,455 14,072 199,527
At 31 December 2020 41,698 18,762 60,460

5. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST
At 1 January 2021
and 31 December 2021 150,000
NET BOOK VALUE
At 31 December 2021 150,000
At 31 December 2020 150,000

GRANGE FARMS LIMITED (REGISTERED NUMBER: 04849246)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


5. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Joint venture

JS Crop Limited
Registered office:
Nature of business: Farming and agricultural operations
%
Class of shares: holding
Ordinary 50.00
31.3.22 31.3.21
£    £   
Aggregate capital and reserves 333,714 300,617
Profit for the year 33,097 10,894

As at 31 December 2021 Grange Farms Ltd was owed £0 (2020 - £10,000) by JS Crop Limited and is included in other debtors.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 143,167 21,695
Other debtors 337,603 644,122
480,770 665,817

7. CURRENT ASSET INVESTMENTS
31.12.21 31.12.20
£    £   
Unlisted investments 20 20

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans and overdrafts 79,344 110,178
Hire purchase contracts 29,842 13,723
Trade creditors 33,339 12,947
Taxation and social security 43,502 122,349
Other creditors 205,062 34,025
391,089 293,222

GRANGE FARMS LIMITED (REGISTERED NUMBER: 04849246)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.21 31.12.20
£    £   
Bank loans 2,377,246 2,711,884
Hire purchase contracts 64,227 28,871
2,441,473 2,740,755

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,037,273 2,404,278

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.21 31.12.20
£    £   
Bank overdraft - 38,456
Bank loans 2,456,590 2,783,606
2,456,590 2,822,062

The company has two business loans upon which interest is charged at varying rates over bank base rate, payable monthly, with review dates in June 2027 and September 2027. Loans are stated as repayable on the review date, although it is expected that they will continue thereafter. Security for loans is in the form of a fixed charge over land and buildings owned by the company.

11. PROVISIONS FOR LIABILITIES
31.12.21 31.12.20
£    £   
Deferred tax 67,706 54,418

Deferred
tax
£   
Balance at 1 January 2021 54,418
Provided during year 13,288
Balance at 31 December 2021 67,706

GRANGE FARMS LIMITED (REGISTERED NUMBER: 04849246)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2021 and 31 December 2020:

31.12.21 31.12.20
£    £   
M J H Solley
Balance outstanding at start of year 250,000 -
Amounts advanced - 250,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 250,000 250,000

Interest is charged at 2.25% calculated on a daily basis.

13. RELATED PARTY DISCLOSURES

During the year, total dividends of £73,816 (2020 - £73,816) were paid to the directors .

Mr D & Mrs S V Solley - directors and shareholders

As at 31 December 2021 Grange Farms Ltd owed Mr D & Mrs S V Solley, £158,918 (2020 - £55).

14. ULTIMATE CONTROLLING PARTY

The controlling party is D H Solley.