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REGISTERED NUMBER: 06189957 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Hollands Farms Dorchester Limited

Hollands Farms Dorchester Limited (Registered number: 06189957)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


Hollands Farms Dorchester Limited (Registered number: 06189957)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 217 289
Tangible assets 5 1,138,032 1,161,344
Investments 6 184,337 174,127
Herd 7 190,489 174,568
1,513,075 1,510,328

CURRENT ASSETS
Stocks 8 215,873 206,486
Debtors 9 64,125 124,649
Cash at bank 958 241
280,956 331,376
CREDITORS
Amounts falling due within one year 10 612,467 790,952
NET CURRENT LIABILITIES (331,511 ) (459,576 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,181,564 1,050,752

CREDITORS
Amounts falling due after more than one year 11 1,079,983 1,172,666
NET ASSETS/(LIABILITIES) 101,581 (121,914 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 101,580 (121,915 )
SHAREHOLDERS' FUNDS 101,581 (121,914 )

Hollands Farms Dorchester Limited (Registered number: 06189957)

Balance Sheet - continued
31 March 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 November 2023 and were signed by:





Mr S A Holland - Director


Hollands Farms Dorchester Limited (Registered number: 06189957)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Hollands Farms Dorchester Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06189957

Registered office: Higher Kingston Farm
Stinsford
Dorchester
Dorset
DT2 8QE

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 as modified by the revaluation of certain assets.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 5% on reducing balance and not provided
Tenants improvements - 5% on reducing balance
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Tractors - 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.

Biological non current assets
Biological non current assets are valued at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Dairy cows - 20% straight line

Hollands Farms Dorchester Limited (Registered number: 06189957)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Classification
The company holds the following financial instruments:

Short term debtors and creditors;
Cash and bank balances; and
Investments.

All financial instruments are classified as basic.

Recognition and measurement
The company has elected to apply the provisions FRS102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transition costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments unless otherwise stated.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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

Hollands Farms Dorchester Limited (Registered number: 06189957)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

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.

Fixed asset investments
Unlisted Investments are valued at cost less impairment. Listed Investments are valued at fair value.

Going concern
The company is dependent on the continued financial support of the directors and its bankers through the use of an overdraft facility and loan account. On the basis that this support will continue, the accounts have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
BPS
Entitlements
£   
COST
At 1 April 2022
and 31 March 2023 505
AMORTISATION
At 1 April 2022 216
Amortisation for year 72
At 31 March 2023 288
NET BOOK VALUE
At 31 March 2023 217
At 31 March 2022 289

Hollands Farms Dorchester Limited (Registered number: 06189957)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


5. TANGIBLE FIXED ASSETS
Freehold Tenants Plant and
property improvements machinery
£    £    £   
COST
At 1 April 2022 230,056 1,122,505 300,250
Additions - 2,198 30,963
Disposals - - (528 )
At 31 March 2023 230,056 1,124,703 330,685
DEPRECIATION
At 1 April 2022 47,938 411,182 195,864
Charge for year 2,816 35,676 20,296
Eliminated on disposal - - (483 )
At 31 March 2023 50,754 446,858 215,677
NET BOOK VALUE
At 31 March 2023 179,302 677,845 115,008
At 31 March 2022 182,118 711,323 104,386

Motor
vehicles Tractors Totals
£    £    £   
COST
At 1 April 2022 30,250 241,450 1,924,511
Additions - 62,635 95,796
Disposals - (21,000 ) (21,528 )
At 31 March 2023 30,250 283,085 1,998,779
DEPRECIATION
At 1 April 2022 28,669 79,514 763,167
Charge for year 395 54,897 114,080
Eliminated on disposal - (16,017 ) (16,500 )
At 31 March 2023 29,064 118,394 860,747
NET BOOK VALUE
At 31 March 2023 1,186 164,691 1,138,032
At 31 March 2022 1,581 161,936 1,161,344

Hollands Farms Dorchester Limited (Registered number: 06189957)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2022 174,127
Additions 8,385
Revaluations 1,825
At 31 March 2023 184,337
NET BOOK VALUE
At 31 March 2023 184,337
At 31 March 2022 174,127

Cost or valuation at 31 March 2023 is represented by:

Other
investments
£   
Valuation in 2017 91,030
Valuation in 2018 17,765
Valuation in 2019 5,122
Valuation in 2020 (7,056 )
Valuation in 2021 52,014
Valuation in 2022 (66,186 )
Valuation in 2023 1,825
Cost 89,823
184,337

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 89,823 81,438

Listed fixed asset investments were valued on an open market basis on 31 March 2023 by Mrs M Holland .

Hollands Farms Dorchester Limited (Registered number: 06189957)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


7. HERD
Dairy
herd
£   
COST
At 1 April 2022 199,135
Additions 60,736
Disposals (46,412 )
At 31 March 2023 213,459
DEPRECIATION
At 1 April 2022 24,567
Charge for year 5,087
Eliminated on disposal (6,684 )
At 31 March 2023 22,970
NET BOOK VALUE
At 31 March 2023 190,489
At 31 March 2022 174,568

8. STOCKS
2023 2022
£    £   
Stocks 215,873 206,486

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 45,947 38,910
Other debtors - 3,476
Tax - 18,448
VAT 10,085 14,070
Deferred tax asset 4,730 48,733
Prepayments and accrued income 3,363 1,012
64,125 124,649

Hollands Farms Dorchester Limited (Registered number: 06189957)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 12) 241,344 421,528
Hire purchase contracts 53,417 45,583
Trade creditors 93,671 95,613
Tax 7,160 -
Social security and other taxes 1,880 1,906
Other creditors 12,500 12,500
Directors' loan accounts 180,136 187,844
Accrued expenses 22,359 25,978
612,467 790,952

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 12) 741,433 800,283
Hire purchase contracts 30,743 64,576
Amounts owed to group undertakings 307,807 307,807
1,079,983 1,172,666

12. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 181,408 363,481
Bank loan less than 1 year 59,936 58,047
241,344 421,528

Amounts falling due between two and five years:
Bank loans - 2-5 years 233,781 239,485
Bank loan more than 5 years 507,652 560,798
741,433 800,283

Hollands Farms Dorchester Limited (Registered number: 06189957)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


13. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 181,408 363,481
Bank loans 801,369 858,330
Hire purchase contracts 84,160 110,159
1,066,937 1,331,970

The bank loans and overdraft are guaranteed by the director personally up to £1,700,000 plus interest and costs.

The finance leases are secured on the assets concerned.

14. RELATED PARTY DISCLOSURES

Hollands Farms Dorchester Limited commenced trading on 1 April 2007 with assets and trade received via a dividend to the shareholders of Holland Farms D Limited its parent company on the statutory demerger under s213 ICTA from Hollands (Farms) limited. The amount owing to Hollands Farms D Limited at the balance sheet date is £307,807 and is included within amounts owed to group undertakings.

In the year, the director charged the company rents of £5,400 (2022: £1,800)