IRIS Accounts Production v22.2.0.402 07732721 Board of Directors Board of Directors Board of Directors 1.4.21 31.3.22 31.3.22 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure077327212021-03-31077327212022-03-31077327212021-04-012022-03-31077327212020-03-31077327212020-04-012021-03-31077327212021-03-3107732721ns16:EnglandWales2021-04-012022-03-3107732721ns15:PoundSterling2021-04-012022-03-3107732721ns11:Director12021-04-012022-03-3107732721ns11:Director22021-04-012022-03-3107732721ns11:Director32021-04-012022-03-3107732721ns11:PrivateLimitedCompanyLtd2021-04-012022-03-3107732721ns11:SmallEntities2021-04-012022-03-3107732721ns11:AuditExempt-NoAccountantsReport2021-04-012022-03-3107732721ns11:SmallCompaniesRegimeForDirectorsReport2021-04-012022-03-3107732721ns11:SmallCompaniesRegimeForAccounts2021-04-012022-03-3107732721ns11:FullAccounts2021-04-012022-03-310773272112021-04-012022-03-3107732721ns11:CompanySecretary12021-04-012022-03-3107732721ns11:RegisteredOffice2021-04-012022-03-3107732721ns6:CurrentFinancialInstruments2022-03-3107732721ns6:CurrentFinancialInstruments2021-03-3107732721ns6:ShareCapital2022-03-3107732721ns6:ShareCapital2021-03-3107732721ns6:SharePremium2022-03-3107732721ns6:SharePremium2021-03-3107732721ns6:RetainedEarningsAccumulatedLosses2022-03-3107732721ns6:RetainedEarningsAccumulatedLosses2021-03-3107732721ns6:IntangibleAssetsOtherThanGoodwill2021-04-012022-03-3107732721ns6:IntangibleAssetsOtherThanGoodwill2021-03-3107732721ns6:IntangibleAssetsOtherThanGoodwill2022-03-3107732721ns6:IntangibleAssetsOtherThanGoodwill2021-03-3107732721ns6:LandBuildings2021-03-3107732721ns6:LongLeaseholdAssetsns6:LandBuildings2021-03-3107732721ns6:PlantMachinery2021-03-3107732721ns6:MotorVehicles2021-03-3107732721ns6:LandBuildings2021-04-012022-03-3107732721ns6:LongLeaseholdAssetsns6:LandBuildings2021-04-012022-03-3107732721ns6:PlantMachinery2021-04-012022-03-3107732721ns6:MotorVehicles2021-04-012022-03-3107732721ns6:LandBuildings2022-03-3107732721ns6:LongLeaseholdAssetsns6:LandBuildings2022-03-3107732721ns6:PlantMachinery2022-03-3107732721ns6:MotorVehicles2022-03-3107732721ns6:LandBuildings2021-03-3107732721ns6:LongLeaseholdAssetsns6:LandBuildings2021-03-3107732721ns6:PlantMachinery2021-03-3107732721ns6:MotorVehicles2021-03-3107732721ns6:CostValuation2021-03-3107732721ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3107732721ns6:WithinOneYearns6:CurrentFinancialInstruments2021-03-3107732721ns6:CurrentFinancialInstruments2021-04-012022-03-31
REGISTERED NUMBER: 07732721 (England and Wales)


















Unaudited Financial Statements for the Year Ended 31st March 2022

for

Melrose Pigs Limited

Melrose Pigs Limited (Registered number: 07732721)






Contents of the Financial Statements
for the year ended 31st March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Melrose Pigs Limited

Company Information
for the year ended 31st March 2022







DIRECTORS: Mrs P F Dear
E J Rowbottom
J R Rowbottom





SECRETARY: Mrs P F Dear





REGISTERED OFFICE: Melrose Farm
Melbourne
York
East Yorkshire
YO42 4SS





REGISTERED NUMBER: 07732721 (England and Wales)





ACCOUNTANTS: Smailes Goldie Limited
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Melrose Pigs Limited (Registered number: 07732721)

Balance Sheet
31st March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,076,929 2,840,214
Investments 6 90,472 90,472
3,167,401 2,930,686

CURRENT ASSETS
Stocks 236,517 727,074
Debtors 7 404,658 395,666
Cash at bank 1,034,417 1,093,173
1,675,592 2,215,913
CREDITORS
Amounts falling due within one year 8 141,879 478,680
NET CURRENT ASSETS 1,533,713 1,737,233
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,701,114

4,667,919

PROVISIONS FOR LIABILITIES 140,265 147,157
NET ASSETS 4,560,849 4,520,762

CAPITAL AND RESERVES
Called up share capital 252 252
Share premium 228 228
Retained earnings 4,560,369 4,520,282
4,560,849 4,520,762

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

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

Melrose Pigs Limited (Registered number: 07732721)

Balance Sheet - continued
31st March 2022


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 7th September 2022 and were signed on its behalf by:




Mrs P F Dear - Director J R Rowbottom - Director




E J Rowbottom - Director


Melrose Pigs Limited (Registered number: 07732721)

Notes to the Financial Statements
for the year ended 31st March 2022

1. STATUTORY INFORMATION

Melrose Pigs 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared in accordance with applicable accounting standards including Section 1A of Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

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.

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on the dispatch of goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible assets
Basic Payment Scheme entitlements are initially recognised at cost and are amortised on a straight line basis over their expected useful life. At the reporting date, the entitlements have been fully amortised. The Basic Payment Scheme commenced in 2015 and the cessation year was 2019.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation
Depreciation of fixed assets is charged by annual instalments commencing with the year of acquisition at rates estimated to write off their cost less any residual value over the expected useful lives.

The annual rates used are as follows:

Freehold landNil
Land and buildings10% on cost
Plant and machinery5% on cost, 15% on cost
Motor vehicles20% reducing balance

Investments in subsidiaries
Investments in associates are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Melrose Pigs Limited (Registered number: 07732721)

Notes to the Financial Statements - continued
for the year ended 31st March 2022

2. ACCOUNTING POLICIES - continued

Stocks
Stocks, including biological assets, are stated at the lower of cost and net realisable value. Cost is determined using the first-in, first-out (FIFO) method and represents costs incurred to date to bring growing crops and finished produce to its current state. Net realisable value is estimated selling price in the ordinary course of business, less applicable variable selling expenses.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current and past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 and other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Hire purchase and leasing commitments
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.

Debtors and creditors receivable/ payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Melrose Pigs Limited (Registered number: 07732721)

Notes to the Financial Statements - continued
for the year ended 31st March 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2021 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st April 2021
and 31st March 2022 13,000
AMORTISATION
At 1st April 2021
and 31st March 2022 13,000
NET BOOK VALUE
At 31st March 2022 -
At 31st March 2021 -

5. TANGIBLE FIXED ASSETS
Freehold Long Plant and Motor
property leasehold machinery vehicles Totals
£    £    £    £    £   
COST
At 1st April 2021 2,002,774 982,869 3,379,359 57,333 6,422,335
Additions - - 408,004 - 408,004
Disposals - - (19,058 ) (13,900 ) (32,958 )
At 31st March 2022 2,002,774 982,869 3,768,305 43,433 6,797,381
DEPRECIATION
At 1st April 2021 318,417 954,094 2,262,406 47,204 3,582,121
Charge for year 4,002 9,589 145,186 1,822 160,599
Eliminated on disposal - - (9,184 ) (13,084 ) (22,268 )
At 31st March 2022 322,419 963,683 2,398,408 35,942 3,720,452
NET BOOK VALUE
At 31st March 2022 1,680,355 19,186 1,369,897 7,491 3,076,929
At 31st March 2021 1,684,357 28,775 1,116,953 10,129 2,840,214

Melrose Pigs Limited (Registered number: 07732721)

Notes to the Financial Statements - continued
for the year ended 31st March 2022

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st April 2021
and 31st March 2022 90,472
NET BOOK VALUE
At 31st March 2022 90,472
At 31st March 2021 90,472

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 188,051 352,239
Other debtors 216,607 43,427
404,658 395,666

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 29,574 325,109
Amounts owed to group undertakings 90,472 90,472
Taxation and social security 8,069 51,955
Other creditors 13,764 11,144
141,879 478,680

There are legal charges in favour or National Westminster Bank Plc over the land and buildings at Old Mills, Seaton Ross and Norway Farm, Bempton.

National Westminster Bank Plc also hold a debenture over the company assets.

JR Rowbottom and Mrs EM Rowbottom have given a guarantee to National Westminster Bank Plc of £1,850,000 together with a charge over land at Melrose Farm, Melbourne.