Silverfin false 31/03/2023 01/04/2022 31/03/2023 G Bond 26/05/2010 R Bond 26/05/2010 Rebecca Bond 06 November 2023 The principal activity of the Company during the financial year was that of a café, together with the manufacture and retail of ice cream. 07266115 2023-03-31 07266115 bus:Director1 2023-03-31 07266115 bus:Director2 2023-03-31 07266115 2022-03-31 07266115 core:CurrentFinancialInstruments 2023-03-31 07266115 core:CurrentFinancialInstruments 2022-03-31 07266115 core:Non-currentFinancialInstruments 2023-03-31 07266115 core:Non-currentFinancialInstruments 2022-03-31 07266115 core:ShareCapital 2023-03-31 07266115 core:ShareCapital 2022-03-31 07266115 core:RetainedEarningsAccumulatedLosses 2023-03-31 07266115 core:RetainedEarningsAccumulatedLosses 2022-03-31 07266115 core:LandBuildings 2022-03-31 07266115 core:PlantMachinery 2022-03-31 07266115 core:Vehicles 2022-03-31 07266115 core:FurnitureFittings 2022-03-31 07266115 core:LandBuildings 2023-03-31 07266115 core:PlantMachinery 2023-03-31 07266115 core:Vehicles 2023-03-31 07266115 core:FurnitureFittings 2023-03-31 07266115 2022-04-01 2023-03-31 07266115 bus:FullAccounts 2022-04-01 2023-03-31 07266115 bus:SmallEntities 2022-04-01 2023-03-31 07266115 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07266115 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07266115 bus:Director1 2022-04-01 2023-03-31 07266115 bus:Director2 2022-04-01 2023-03-31 07266115 bus:Director3 2022-04-01 2023-03-31 07266115 core:LandBuildings 2022-04-01 2023-03-31 07266115 core:PlantMachinery 2022-04-01 2023-03-31 07266115 core:Vehicles 2022-04-01 2023-03-31 07266115 core:FurnitureFittings 2022-04-01 2023-03-31 07266115 2021-04-01 2022-03-31 07266115 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 07266115 (England and Wales)

OTTER VALLEY DAIRY LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

OTTER VALLEY DAIRY LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

OTTER VALLEY DAIRY LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2023
OTTER VALLEY DAIRY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTORS G Bond
R Bond
SECRETARY G Bond
REGISTERED OFFICE Aplins Farm
Monkton
Honiton
EX14 9QN
United Kingdom
COMPANY NUMBER 07266115 (England and Wales)
CHARTERED ACCOUNTANTS Albert Goodman LLP
Goodwood House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX
OTTER VALLEY DAIRY LIMITED

BALANCE SHEET

As at 31 March 2023
OTTER VALLEY DAIRY LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 575,685 608,060
575,685 608,060
Current assets
Stocks 4 3,250 2,500
Debtors 5 0 210
Cash at bank and in hand 425,004 477,523
428,254 480,233
Creditors: amounts falling due within one year 6 ( 259,849) ( 365,759)
Net current assets 168,405 114,474
Total assets less current liabilities 744,090 722,534
Creditors: amounts falling due after more than one year 7 0 ( 83,116)
Provision for liabilities ( 38,491) ( 35,182)
Net assets 705,599 604,236
Capital and reserves
Called-up share capital 4 4
Profit and loss account 705,595 604,232
Total shareholders' funds 705,599 604,236

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Otter Valley Dairy Limited (registered number: 07266115) were approved and authorised for issue by the Board of Directors on 06 November 2023. They were signed on its behalf by:

Rebecca Bond
Director
OTTER VALLEY DAIRY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
OTTER VALLEY DAIRY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Otter Valley Dairy Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Aplins Farm, Monkton, Honiton, EX14 9QN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 5 % reducing balance
Plant and machinery 15 % reducing balance
Vehicles 20 % reducing balance
Fixtures and fittings 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Defined contribution pension obligation

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 payments obligations.

The contributions are recognised as an expense in the profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are
held separately from the company in independently administered funds.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 28 27

3. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 April 2022 661,125 147,149 16,100 4,581 828,955
Additions 1,817 1,295 0 3,846 6,958
At 31 March 2023 662,942 148,444 16,100 8,427 835,913
Accumulated depreciation
At 01 April 2022 132,226 73,999 12,724 1,946 220,895
Charge for the financial year 26,520 11,021 675 1,117 39,333
At 31 March 2023 158,746 85,020 13,399 3,063 260,228
Net book value
At 31 March 2023 504,196 63,424 2,701 5,364 575,685
At 31 March 2022 528,899 73,150 3,376 2,635 608,060

4. Stocks

2023 2022
£ £
Stocks 3,250 2,500

5. Debtors

2023 2022
£ £
Trade debtors 0 210

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 0 15,412
Corporation tax 43,091 65,001
Other taxation and social security 27,757 16,587
Other creditors 189,001 268,759
259,849 365,759

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 0 83,116

There are no amounts included above in respect of which any security has been given by the small entity.