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REGISTERED NUMBER: 02880419 (England and Wales)















HOLBEACH MARSH CO-OPERATIVE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






HOLBEACH MARSH CO-OPERATIVE LIMITED (REGISTERED NUMBER: 02880419)






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 3 to 5


HOLBEACH MARSH CO-OPERATIVE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: D R Worth
D G W Hoyles
N R Patrick
J L Symington
R C Thompson





SECRETARY: A M Giles





REGISTERED OFFICE: Fleet Estate Office
Manor Farm
Holbeach Hurn, Holbeach
Spalding
Lincolnshire
PE12 8LR





REGISTERED NUMBER: 02880419 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR

HOLBEACH MARSH CO-OPERATIVE LIMITED (REGISTERED NUMBER: 02880419)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 926,074 601,935
Investments 5 46 46
926,120 601,981

CURRENT ASSETS
Stocks 17,000 9,606
Debtors 6 1,056,335 1,401,367
Cash at bank 760,956 697,284
1,834,291 2,108,257
CREDITORS
Amounts falling due within one year 7 999,702 1,303,309
NET CURRENT ASSETS 834,589 804,948
TOTAL ASSETS LESS CURRENT LIABILITIES 1,760,709 1,406,929

CREDITORS
Amounts falling due after more than one year 8 419,591 162,000
NET ASSETS 1,341,118 1,244,929

CAPITAL AND RESERVES
Called up share capital 10 26,400 25,800
Share premium 4,694 4,694
Retained earnings 1,310,024 1,214,435
SHAREHOLDERS' FUNDS 1,341,118 1,244,929

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.

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 18 April 2023 and were signed on its behalf by:



D R Worth - Director


HOLBEACH MARSH CO-OPERATIVE LIMITED (REGISTERED NUMBER: 02880419)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Holbeach Marsh Co-operative 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.

Turnover
Turnover represents amounts withheld from members' throughput to meet the running costs of the co-operative.

Sales of produce are recognised upon despatch.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Improvements to property - Straight line over 20 years
Plant and machinery - Straight line over 5 years or 18% on reducing balance
Computer equipment - Straight line over 3 years

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items. Net realisable value is based on estimated selling price less estimated cost of disposal.

Hire purchase and leasing commitments
Tangible fixed assets acquired under finance leases and hire purchase contracts are capitalised at the estimated fair value at the date of inception of each lease or contract. The total finance charges are allocated over the period of the lease on a straight line basis.

Taxation
The company trades as a mutual enterprise and as such is only subject to taxation upon surpluses generated from non-member trading and interest on temporary deposits.

Government grants
Government grants on capital expenditure are credited to a deferral account and are released to reserves over the expected useful life of the relevant asset by equal annual instalments. Grants of a revenue nature are credited to income in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

HOLBEACH MARSH CO-OPERATIVE LIMITED (REGISTERED NUMBER: 02880419)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 March 2022 18,160 2,043,742 9,210 15,730 2,086,842
Additions - 528,194 - 440 528,634
Disposals - (389,454 ) - - (389,454 )
At 28 February 2023 18,160 2,182,482 9,210 16,170 2,226,022
DEPRECIATION
At 1 March 2022 18,160 1,444,797 6,220 15,730 1,484,907
Charge for year - 202,853 1,495 147 204,495
Eliminated on disposal - (389,454 ) - - (389,454 )
At 28 February 2023 18,160 1,258,196 7,715 15,877 1,299,948
NET BOOK VALUE
At 28 February 2023 - 924,286 1,495 293 926,074
At 28 February 2022 - 598,945 2,990 - 601,935


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2022
and 28 February 2023 46
NET BOOK VALUE
At 28 February 2023 46
At 28 February 2022 46

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,011,421 1,147,876
Other debtors 44,914 253,491
1,056,335 1,401,367

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 165,648 162,464
Trade creditors 13,354 236,481
Taxation and social security - 2,384
Other creditors 820,700 901,980
999,702 1,303,309

HOLBEACH MARSH CO-OPERATIVE LIMITED (REGISTERED NUMBER: 02880419)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 419,591 162,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 585,239 324,464

10. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
43 Ordinary shares 600 26,400 25,800