IRIS Accounts Production v23.2.0.158 01918366 Board of Directors Board of Directors 1.3.22 28.2.23 28.2.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh019183662022-02-28019183662023-02-28019183662022-03-012023-02-28019183662021-02-28019183662021-03-012022-02-28019183662022-02-2801918366ns10:Originalns15:EnglandWales2022-03-012023-02-2801918366ns14:PoundSterlingns10:Original2022-03-012023-02-2801918366ns10:Originalns10:Director12022-03-012023-02-2801918366ns10:Original2022-03-012023-02-2801918366ns10:Originalns10:Director22022-03-012023-02-2801918366ns10:Original2023-02-2801918366ns10:Originalns10:PrivateLimitedCompanyLtd2022-03-012023-02-2801918366ns10:Originalns10:SmallEntities2022-03-012023-02-2801918366ns10:Originalns10:AuditExempt-NoAccountantsReport2022-03-012023-02-2801918366ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2801918366ns10:SmallCompaniesRegimeForAccountsns10:Original2022-03-012023-02-2801918366ns10:Originalns10:FullAccounts2022-03-012023-02-2801918366ns10:Originalns10:Director32022-03-012023-02-2801918366ns10:Originalns10:Director42022-03-012023-02-2801918366ns10:Originalns10:Director52022-03-012023-02-2801918366ns10:Originalns10:Director62022-03-012023-02-2801918366ns10:Originalns10:Director72022-03-012023-02-2801918366ns10:Director8ns10:Original2022-03-012023-02-2801918366ns10:Originalns10:Director92022-03-012023-02-2801918366ns10:Director10ns10:Original2022-03-012023-02-2801918366ns10:Originalns10:Director112022-03-012023-02-2801918366ns10:Originalns10:RegisteredOffice2022-03-012023-02-2801918366ns10:Original2022-02-2801918366ns10:Originalns5:CurrentFinancialInstruments2023-02-2801918366ns10:Originalns5:CurrentFinancialInstruments2022-02-2801918366ns10:Originalns5:Non-currentFinancialInstruments2023-02-2801918366ns10:Originalns5:Non-currentFinancialInstruments2022-02-2801918366ns5:ShareCapitalns10:Original2023-02-2801918366ns5:ShareCapitalns10:Original2022-02-2801918366ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-02-2801918366ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-02-2801918366ns10:Original12022-03-012023-02-2801918366ns10:Original2021-03-012022-02-2801918366ns10:Originalns5:LandBuildings2022-02-2801918366ns10:Originalns5:PlantMachinery2022-02-2801918366ns10:Originalns5:MotorVehicles2022-02-2801918366ns10:Original2022-02-2801918366ns10:Originalns5:LandBuildings2022-03-012023-02-2801918366ns10:Originalns5:PlantMachinery2022-03-012023-02-2801918366ns10:Originalns5:MotorVehicles2022-03-012023-02-2801918366ns10:Originalns5:LandBuildings2023-02-2801918366ns10:Originalns5:PlantMachinery2023-02-2801918366ns10:Originalns5:MotorVehicles2023-02-2801918366ns10:Originalns5:LandBuildings2022-02-2801918366ns10:Originalns5:PlantMachinery2022-02-2801918366ns10:Originalns5:MotorVehicles2022-02-2801918366ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-02-2801918366ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-03-012023-02-2801918366ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-02-2801918366ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-02-2801918366ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2801918366ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-02-2801918366ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-02-2801918366ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-02-2801918366ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-02-2801918366ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-02-2801918366ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-02-2801918366ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-02-2801918366ns5:Securedns10:Original2023-02-2801918366ns5:Securedns10:Original2022-02-28
REGISTERED NUMBER: 01918366 (England and Wales)













Financial Statements

for the Year Ended 28 February 2023

for

H. & S. Roe & Sons Farms Limited

H. & S. Roe & Sons Farms Limited (Registered number: 01918366)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


H. & S. Roe & Sons Farms Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: Mr S P Roe
Mr H J Roe
Mrs W J Roe
Mrs S M O Roe
Miss H P Dunn
Miss C H Shaw
Miss I C Lister
Miss R P Roe
Mr S H D Roe
Miss E E Roe
Mrs R Moseley


REGISTERED OFFICE: Roe House
Boundary Lane
South Hykeham
LINCOLN
LN6 9NQ


REGISTERED NUMBER: 01918366 (England and Wales)


ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN


BANKERS: NatWest Bank Plc
225 High Street
LINCOLN
Lincolnshire
LN2 1AZ


SOLICITORS: Roythorne & Co
10 Pinchbeck Road
SPALDING
Lincs
PE11 1PZ

H. & S. Roe & Sons Farms Limited (Registered number: 01918366)

Statement of Financial Position
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,940,703 6,166,110

CURRENT ASSETS
Stocks 169,000 126,000
Debtors 5 2,934,021 3,334,729
Cash at bank and in hand 828,469 326,901
3,931,490 3,787,630
CREDITORS
Amounts falling due within one year 6 805,932 918,200
NET CURRENT ASSETS 3,125,558 2,869,430
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,066,261

9,035,540

CREDITORS
Amounts falling due after more than
one year

7

-

(585,077

)

PROVISIONS FOR LIABILITIES (558,828 ) (491,543 )
NET ASSETS 8,507,433 7,958,920

CAPITAL AND RESERVES
Called up share capital 1,204 1,204
Retained earnings 8,506,229 7,957,716
SHAREHOLDERS' FUNDS 8,507,433 7,958,920

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

H. & S. Roe & Sons Farms Limited (Registered number: 01918366)

Statement of Financial Position - continued
28 February 2023


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 3 October 2023 and were signed on its behalf by:




Mr H J Roe - Director



Mr S P Roe - Director


H. & S. Roe & Sons Farms Limited (Registered number: 01918366)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

H. & S. Roe & Sons 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.

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.

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated by the directors and are based on historical experience and other relevant factors, including expectations of future events that are believed to be reasonable under the circumstances.

Tangible fixed asset lives and residual values
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. Judgement is applied in determining the residual values of fixed assets by assessing the amount that the company would currently obtain for disposing of the asset in the condition it is expected to be in at the end of its useful life. The estimation of useful lives is based on historic performance as well as expectations about future use. Useful lives are reviewed to reflect current estimates of technological advancement, future investment policy, economic utilisation and the physical condition of the asset.

Tangible fixed assets acquired on finance agreements are depreciated over their estimated useful life.

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 rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Freehold land-Not provided
Freehold buildings-2% straight line
Plant & machinery-20% reducing balance
Motor vehicles-20% reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value.

The cost of harvested crops and tenantright includes all production overheads and the attributable proportion of indirect overheads based on the normal level of activity. Net realisable value is based on estimated selling price, less the estimated costs of disposal.

H. & S. Roe & Sons Farms Limited (Registered number: 01918366)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

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.

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.

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

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.

H. & S. Roe & Sons Farms Limited (Registered number: 01918366)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Leasing
Rental income from operating leases is recognised on a straight line basis over the term of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 32 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 March 2022 4,120,302 6,755,776 370,007 11,246,085
Additions - 1,022,616 - 1,022,616
Disposals - (708,747 ) - (708,747 )
At 28 February 2023 4,120,302 7,069,645 370,007 11,559,954
DEPRECIATION
At 1 March 2022 549,181 4,191,321 339,473 5,079,975
Charge for year 29,650 817,470 13,720 860,840
Eliminated on disposal - (321,564 ) - (321,564 )
At 28 February 2023 578,831 4,687,227 353,193 5,619,251
NET BOOK VALUE
At 28 February 2023 3,541,471 2,382,418 16,814 5,940,703
At 28 February 2022 3,571,121 2,564,455 30,534 6,166,110

Rental receivables from operating leases totalled £437,033 (2022 : £269,990).

H. & S. Roe & Sons Farms Limited (Registered number: 01918366)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 March 2022 360,987
Additions 348,813
At 28 February 2023 709,800
DEPRECIATION
At 1 March 2022 142,566
Charge for year 142,254
At 28 February 2023 284,820
NET BOOK VALUE
At 28 February 2023 424,980
At 28 February 2022 218,421

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 375,131 361,039
Owed by related parties 2,325,071 2,706,030
Prepayments and accrued income 233,819 267,660
2,934,021 3,334,729

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 78,468
Hire purchase contracts 201,157 288,540
Trade creditors 327,299 273,885
Tax 187,899 173,121
Social security and other taxes 16,486 15,884
VAT 12,619 22,779
Other creditors 26,104 18,645
Directors' current accounts 12,618 27,378
Accruals and deferred income 21,750 19,500
805,932 918,200

H. & S. Roe & Sons Farms Limited (Registered number: 01918366)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years - 78,468
Bank loans - 2-5 years - 235,405
Bank loans more 5 yr by instal - 271,204
- 585,077

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 271,204

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 663,545
Hire purchase contracts 201,157 288,540
201,157 952,085

The hire purchase debt is secured on the assets purchased on hire purchase. The bank loan is secured on the company's assets.

9. RELATED PARTY DISCLOSURES

Included in debtors was a balance of £2,325,071 (2022: £2,706,030) owed by Tennyson Homes Limited. Tennyson Homes Limited is a company in which the directors or their family members are shareholders. These balances are on an unsecured interest free basis, repayable on demand.

The directors of the company are all trustees of the Roe Group Pension Scheme.