Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09289535 2022-04-01 2023-03-31 09289535 2021-04-01 2022-03-31 09289535 2023-03-31 09289535 2022-03-31 09289535 c:Director1 2022-04-01 2023-03-31 09289535 d:Buildings 2022-04-01 2023-03-31 09289535 d:Buildings 2023-03-31 09289535 d:Buildings 2022-03-31 09289535 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09289535 d:PlantMachinery 2022-04-01 2023-03-31 09289535 d:PlantMachinery 2023-03-31 09289535 d:PlantMachinery 2022-03-31 09289535 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09289535 d:OfficeEquipment 2022-04-01 2023-03-31 09289535 d:OfficeEquipment 2023-03-31 09289535 d:OfficeEquipment 2022-03-31 09289535 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09289535 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09289535 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 09289535 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-03-31 09289535 d:CurrentFinancialInstruments 2023-03-31 09289535 d:CurrentFinancialInstruments 2022-03-31 09289535 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09289535 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 09289535 d:ShareCapital 2023-03-31 09289535 d:ShareCapital 2022-03-31 09289535 d:RetainedEarningsAccumulatedLosses 2023-03-31 09289535 d:RetainedEarningsAccumulatedLosses 2022-03-31 09289535 c:OrdinaryShareClass1 2022-04-01 2023-03-31 09289535 c:OrdinaryShareClass1 2023-03-31 09289535 c:OrdinaryShareClass1 2022-03-31 09289535 c:FRS102 2022-04-01 2023-03-31 09289535 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 09289535 c:FullAccounts 2022-04-01 2023-03-31 09289535 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09289535 2 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09289535










PEPLOW FARMS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
PEPLOW FARMS LIMITED
REGISTERED NUMBER: 09289535

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
                                                                    Note
£
£

Fixed assets
  

Tangible assets
 5 
118,968
110,375

  
118,968
110,375

Current assets
  

Stocks
  
42,865
119,456

Debtors: amounts falling due within one year
 6 
42,379
16,442

Cash at bank and in hand
  
253,378
225,037

  
338,622
360,935

Creditors: amounts falling due within one year
 7 
(98,855)
(193,806)

Net current assets
  
 
 
239,767
 
 
167,129

Total assets less current liabilities
  
358,735
277,504

  

Net assets
  
358,735
277,504


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
358,734
277,503

  
358,735
277,504


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.
 
Page 1

 
PEPLOW FARMS LIMITED
REGISTERED NUMBER: 09289535
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023


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 profit and loss account 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: 




Juliet Catriona Spence Scurlock-Jones
Director

Date: 7 November 2023

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
PEPLOW FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Peplow Farms Limited (company number 09289535) is a private limited company, limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Highway Farm, Peplow, Market Drayton, Shropshire, TF9 3JU.

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 comparative figures relate to the year ended 31 March 2022.

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue 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 revenue 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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
PEPLOW FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

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.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

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 balance sheet date in the countries where the Company operates and generates income.

 
2.6

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.

 
2.7

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.

Page 4

 
PEPLOW FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation 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:

Property improvements
-
20% straight line
Plant and machinery
-
5 - 20% straight line
Office equipment
-
25% 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.

 
2.8

Stocks

Farming stocks are valued in accordance with HM Revenue & Customs help sheet HS232.

 
2.9

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.

 
2.10

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.

 
2.11

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.

Page 5

 
PEPLOW FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 6

 
PEPLOW FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Intangible assets




Basic payment entitlements

£



Cost


At 1 April 2022
28,418



At 31 March 2023

28,418



Amortisation


At 1 April 2022
28,418



At 31 March 2023

28,418



Net book value



At 31 March 2023
-



At 31 March 2022
-



Page 7

 
PEPLOW FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Property improvements
Plant and machinery
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2022
20,023
246,915
825
267,763


Additions
-
39,243
-
39,243


Disposals
-
(917)
-
(917)



At 31 March 2023

20,023
285,241
825
306,089



Depreciation


At 1 April 2022
13,023
143,635
730
157,388


Charge for the year on owned assets
2,285
28,341
24
30,650


Disposals
-
(917)
-
(917)



At 31 March 2023

15,308
171,059
754
187,121



Net book value



At 31 March 2023
4,715
114,182
71
118,968



At 31 March 2022
7,000
103,280
95
110,375


6.


Debtors

2023
2022
£
£


Trade debtors
21,142
2,450

VAT repayable
5,510
5,865

Prepayments and accrued income
15,727
8,127

42,379
16,442


Page 8

 
PEPLOW FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
10,641
38,260

Amounts owed to group undertakings
-
77,526

Corporation tax
15,380
23,029

Accruals and deferred income
72,834
54,991

98,855
193,806



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



9.


Controlling party

The ultimate controlling party of the Company is F W Brown & Co (Lincs) Limited, which has its registered office at Highway Farm, Peplow, Market Drayton, Shropshire, TF9 3JU.

 
Page 9