Company registration number 00806044 (England and Wales)
H.G. KEW (BANK FARM) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
H.G. KEW (BANK FARM) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
H.G. KEW (BANK FARM) LIMITED
BALANCE SHEET
AS AT
31 MAY 2023
31 May 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
20,069
20,454
Current assets
Debtors
5
23,211
25,272
Cash at bank and in hand
5,101
7,110
28,312
32,382
Creditors: amounts falling due within one year
6
(19,011)
(18,357)
Net current assets
9,301
14,025
Total assets less current liabilities
29,370
34,479
Capital and reserves
Called up share capital
7
15,000
15,000
Profit and loss reserves
14,370
19,479
Total equity
29,370
34,479
Company Registration No. 00806044
H.G. KEW (BANK FARM) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2023
31 May 2023
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 6 November 2023 and are signed on its behalf by:
Mr P J Kew
Director
Company Registration No. 00806044
H.G. KEW (BANK FARM) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023
31 May 2023
- 3 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

H.G. Kew (Bank Farm) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 48 King Street, King's Lynn, Norfolk, England, PE30 1HE. The principal place of business is Bank Farm, Fallow Pipe Road, Saddlebow, King's Lynn, PE34 3AS.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2
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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

2.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property
Nil
Agricultural buildings
10% reducing balance basis
Plant and machinery
25% reducing balance basis

Depreciation has not been charged on the freehold buildings as the estimated residual value of the asset is not materially different from the carrying amount of the asset.

H.G. KEW (BANK FARM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
2
Accounting policies
(Continued)
- 4 -

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.

2.4
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 June 2022 and 31 May 2023
52,528
133,635
186,163
Depreciation and impairment
At 1 June 2022
32,583
133,126
165,709
Depreciation charged in the year
49
336
385
At 31 May 2023
32,632
133,462
166,094
Carrying amount
At 31 May 2023
19,896
173
20,069
At 31 May 2022
19,945
509
20,454
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
23,211
25,272
H.G. KEW (BANK FARM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 5 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
15,398
13,749
Taxation and social security
-
0
995
Other creditors
3,613
3,613
19,011
18,357

The overdraft is secured on the land and buildings owned by the company.

7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
15,000 'A' Ordinary shares of £1 each
15,000
15,000
2023-05-312022-06-01false13 November 2023CCH SoftwareCCH Accounts Production 2023.100No description of principal activityMrs P R KewMr P J KewMrs S M Kew008060442022-06-012023-05-31008060442023-05-31008060442022-05-3100806044core:LandBuildings2023-05-3100806044core:OtherPropertyPlantEquipment2023-05-3100806044core:LandBuildings2022-05-3100806044core:OtherPropertyPlantEquipment2022-05-3100806044core:CurrentFinancialInstruments2023-05-3100806044core:CurrentFinancialInstruments2022-05-3100806044core:ShareCapital2023-05-3100806044core:ShareCapital2022-05-3100806044core:RetainedEarningsAccumulatedLosses2023-05-3100806044core:RetainedEarningsAccumulatedLosses2022-05-3100806044bus:Director22022-06-012023-05-3100806044core:LandBuildingscore:OwnedOrFreeholdAssets2022-06-012023-05-3100806044core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-06-012023-05-3100806044core:PlantMachinery2022-06-012023-05-31008060442021-06-012022-05-3100806044core:LandBuildings2022-05-3100806044core:OtherPropertyPlantEquipment2022-05-31008060442022-05-3100806044core:LandBuildings2022-06-012023-05-3100806044core:OtherPropertyPlantEquipment2022-06-012023-05-3100806044core:WithinOneYear2023-05-3100806044core:WithinOneYear2022-05-3100806044bus:PrivateLimitedCompanyLtd2022-06-012023-05-3100806044bus:SmallCompaniesRegimeForAccounts2022-06-012023-05-3100806044bus:FRS1022022-06-012023-05-3100806044bus:AuditExemptWithAccountantsReport2022-06-012023-05-3100806044bus:Director12022-06-012023-05-3100806044bus:CompanySecretary12022-06-012023-05-3100806044bus:FullAccounts2022-06-012023-05-31xbrli:purexbrli:sharesiso4217:GBP