Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-0113truetruefalseNo description of principal activity14The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00357258 2022-04-01 2023-03-31 00357258 2021-04-01 2022-03-31 00357258 2023-03-31 00357258 2022-03-31 00357258 c:Director4 2022-04-01 2023-03-31 00357258 c:Director5 2022-04-01 2023-03-31 00357258 d:Buildings 2022-04-01 2023-03-31 00357258 d:Buildings 2023-03-31 00357258 d:Buildings 2022-03-31 00357258 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00357258 d:Buildings d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 00357258 d:PlantMachinery 2022-04-01 2023-03-31 00357258 d:PlantMachinery 2023-03-31 00357258 d:PlantMachinery 2022-03-31 00357258 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00357258 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 00357258 d:MotorVehicles 2022-04-01 2023-03-31 00357258 d:MotorVehicles 2023-03-31 00357258 d:MotorVehicles 2022-03-31 00357258 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00357258 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 00357258 d:FurnitureFittings 2022-04-01 2023-03-31 00357258 d:FurnitureFittings 2023-03-31 00357258 d:FurnitureFittings 2022-03-31 00357258 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00357258 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 00357258 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00357258 d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 00357258 d:Goodwill 2023-03-31 00357258 d:Goodwill 2022-03-31 00357258 d:CopyrightsPatentsTrademarksServiceOperatingRights 2022-04-01 2023-03-31 00357258 d:CurrentFinancialInstruments 2023-03-31 00357258 d:CurrentFinancialInstruments 2022-03-31 00357258 d:Non-currentFinancialInstruments 2023-03-31 00357258 d:Non-currentFinancialInstruments 2022-03-31 00357258 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00357258 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 00357258 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 00357258 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 00357258 d:ShareCapital 2023-03-31 00357258 d:ShareCapital 2022-03-31 00357258 d:CapitalRedemptionReserve 2023-03-31 00357258 d:CapitalRedemptionReserve 2022-03-31 00357258 d:RetainedEarningsAccumulatedLosses 2023-03-31 00357258 d:RetainedEarningsAccumulatedLosses 2022-03-31 00357258 c:OrdinaryShareClass1 2022-04-01 2023-03-31 00357258 c:OrdinaryShareClass1 2023-03-31 00357258 c:OrdinaryShareClass1 2022-03-31 00357258 c:FRS102 2022-04-01 2023-03-31 00357258 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 00357258 c:FullAccounts 2022-04-01 2023-03-31 00357258 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 00357258 6 2022-04-01 2023-03-31 00357258 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-03-31 00357258 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-03-31 00357258 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-03-31 00357258 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-03-31 00357258 d:LeasedAssetsHeldAsLessee 2023-03-31 00357258 d:LeasedAssetsHeldAsLessee 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 00357258














BRANTHILL FARMS LTD.




UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

 
BRANTHILL FARMS LTD.
REGISTERED NUMBER:00357258

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
320,228
279,986

Investments
 6 
2,584
2,526

  
322,812
282,512

Current assets
  

Stocks
  
245,366
183,510

Debtors: amounts falling due within one year
 7 
59,307
58,233

Cash at bank and in hand
  
65,532
82,326

  
370,205
324,069

Creditors: amounts falling due within one year
 8 
(270,850)
(248,864)

Net current assets
  
 
 
99,355
 
 
75,205

Total assets less current liabilities
  
422,167
357,717

Creditors: amounts falling due after more than one year
 9 
(28,352)
(26,926)

  

Net assets
  
393,815
330,791


Capital and reserves
  

Called up share capital 
 10 
14,433
14,433

Capital redemption reserve
  
13,067
13,067

Profit and loss account
  
366,315
303,291

  
393,815
330,791


Page 1

 
BRANTHILL FARMS LTD.
REGISTERED NUMBER:00357258
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

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 comprehensive income 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: 

................................................
B D Maufe
................................................
M E Maufe
Director
Director


Date: 23 October 2023

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
BRANTHILL FARMS LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Branthill Farms Ltd is a private company limited by shares and incorporated in England and Wales, registration number 00357258. The registered office is Branthill Farm, Wells-next-the-Sea, Norfolk, NR23 1SB.

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. 

 
2.2

Going concern

The Directors have considered the Company’s position at the time of signing the financial statements. The Directors consider that the business is well placed and sufficiently diversified to manage any issues or subsequent impacts arising from the current economic climate. 
Based on this, the Directors have concluded that they have a reasonable expectation that the Company will have adequate resources to continue in operational existence for the foreseeable future, at least twelve months from the date of signing these financial statements, they therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

Page 3

 
BRANTHILL FARMS LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income with 'administration expenses'. All other foreign exchange gains and losses are presented in the Statement of Comprehensive Income with 'other operating income'.

 
2.4

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:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 4

 
BRANTHILL FARMS LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.7

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

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.

The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year. 

Page 5

 
BRANTHILL FARMS LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

Taxation

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.

 
2.11

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

BPS entitlements
-
5
years

 
2.12

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.

Land is not depreciated. Depreciation on other assets 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:

Land & buildings
-
10% reducing balance
Plant & machinery
-
15% - 20% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures, fittings & equipment
-
15% - 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.

Page 6

 
BRANTHILL FARMS LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.13

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.14

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

 
2.15

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.

 
2.16

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.

 
2.17

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.

 
2.18

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 7

 
BRANTHILL FARMS LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
13
14


4.


Intangible assets




BPS entitlements

£



Cost


At 1 April 2022
73,980



At 31 March 2023

73,980



Amortisation


At 1 April 2022
73,980



At 31 March 2023

73,980



Net book value



At 31 March 2023
-



At 31 March 2022
-



Page 8

 
BRANTHILL FARMS LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Land & buildings
Plant & machinery
Motor vehicles
Fixtures, fittings & equipment
Total

£
£
£
£
£



Cost


At 1 April 2022
177,860
440,721
65,145
565,777
1,249,503


Additions
-
85,793
-
31,710
117,503


Disposals
-
(54,450)
-
(11,200)
(65,650)



At 31 March 2023

177,860
472,064
65,145
586,287
1,301,356



Depreciation


At 1 April 2022
125,833
350,574
64,230
428,879
969,516


Charge for the year on owned assets
4,409
18,125
229
16,384
39,147


Charge for the year on financed assets
-
19,750
-
8,056
27,806


Disposals
-
(49,987)
-
(5,354)
(55,341)



At 31 March 2023

130,242
338,462
64,459
447,965
981,128



Net book value



At 31 March 2023
47,618
133,602
686
138,322
320,228



At 31 March 2022
52,027
90,146
915
136,898
279,986

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
59,250
9,211

Furniture, fittings and equipment
45,650
30,706

104,900
39,917

Page 9

 
BRANTHILL FARMS LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Fixed asset investments





Listed investments
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 April 2022
1,026
1,500
2,526


Revaluations
58
-
58



At 31 March 2023
1,084
1,500
2,584





7.


Debtors

2023
2022
£
£


Trade debtors
7,759
9,045

Amounts owed by joint ventures and associated undertakings
604
604

Other debtors
46,789
44,133

Prepayments and accrued income
4,155
4,451

59,307
58,233



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
189,104
163,323

Bank loans
5,324
5,824

Trade creditors
18,000
17,274

Corporation tax
3,695
5,373

Other taxation and social security
3,013
1,409

Obligations under finance lease and hire purchase contracts
33,250
7,750

Other creditors
332
329

Accruals and deferred income
18,132
47,582

270,850
248,864


Hire purchase and finance lease agreements are secured on the assets concerned.
Bank overdrafts and loans are secured over assets of the Company.

Page 10

 
BRANTHILL FARMS LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
14,352
19,176

Net obligations under finance leases and hire purchase contracts
14,000
7,750

28,352
26,926


Hire purchase and finance lease agreements are secured on the assets concerned.
Bank overdrafts and loans are secured over assets of the Company.


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



14,433 (2022 - 14,433) Ordinary shares of £1.00 each
14,433
14,433



11.


Controlling party

The Company is controlled by its Directors. 

 
Page 11