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REGISTERED NUMBER: 13150510 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

CAPES FARMS LIMITED

CAPES FARMS LIMITED (REGISTERED NUMBER: 13150510)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CAPES FARMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Miss N A Capes
Mr M J Capes
Mr J J S Capes





SECRETARY: Mrs S E B Capes





REGISTERED OFFICE: Hatherden House
Hatherden
Andover
Hampshire
SP11 0HX





REGISTERED NUMBER: 13150510 (England and Wales)





ACCOUNTANTS: Hysons
Chartered Accountants
14 London Street
Andover
Hampshire
SP10 2PA

CAPES FARMS LIMITED (REGISTERED NUMBER: 13150510)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 11,582,350 11,548,626

CURRENT ASSETS
Stocks 6 525,662 307,251
Debtors 7 59,958 51,431
Cash at bank and in hand 261,538 306,010
847,158 664,692
CREDITORS
Amounts falling due within one year 8 314,518 221,412
NET CURRENT ASSETS 532,640 443,280
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,114,990

11,991,906

PROVISIONS FOR LIABILITIES 9 1,639,682 1,267,890
NET ASSETS 10,475,308 10,724,016

CAPITAL AND RESERVES
Called up share capital 101,000 101,000
Share premium 10,473,850 10,473,850
Retained earnings (99,542 ) 149,166
10,475,308 10,724,016

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 directors acknowledge their 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.

CAPES FARMS LIMITED (REGISTERED NUMBER: 13150510)

BALANCE SHEET - continued
31 MARCH 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:





Mr J J S Capes - Director


CAPES FARMS LIMITED (REGISTERED NUMBER: 13150510)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Capes Farms Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tractors, combine & dryer - 25% on reducing balance
Implements - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Sundry equipment - 15% on reducing balance

Land and buildings and the related improvement costs are shown at market value on which no depreciation is provided as the property is maintained in a continued state of sound repair

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

CAPES FARMS LIMITED (REGISTERED NUMBER: 13150510)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Freehold Tractors,
land and combine &
buildings dryer Implements
£    £    £   
COST
At 1 April 2022 11,487,150 18,828 3,480
Additions - - 4,125
Disposals - - (105 )
At 31 March 2023 11,487,150 18,828 7,500
DEPRECIATION
At 1 April 2022 - 4,707 886
Charge for year - 3,530 1,661
Eliminated on disposal - - (32 )
At 31 March 2023 - 8,237 2,515
NET BOOK VALUE
At 31 March 2023 11,487,150 10,591 4,985
At 31 March 2022 11,487,150 14,121 2,594

Motor Sundry
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 21,844 33,386 11,564,688
Additions 75,964 - 80,089
Disposals (21,844 ) (2,035 ) (23,984 )
At 31 March 2023 75,964 31,351 11,620,793
DEPRECIATION
At 1 April 2022 5,461 5,008 16,062
Charge for year 18,991 3,997 28,179
Eliminated on disposal (5,461 ) (305 ) (5,798 )
At 31 March 2023 18,991 8,700 38,443
NET BOOK VALUE
At 31 March 2023 56,973 22,651 11,582,350
At 31 March 2022 16,383 28,378 11,548,626

6. STOCKS
2023 2022
£    £   
Valuation 525,662 307,251

CAPES FARMS LIMITED (REGISTERED NUMBER: 13150510)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 5,135 36,518
Other debtors - 1,000
Directors current account 33,218 533
VAT 21,185 12,527
Prepayments 420 853
59,958 51,431

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 148,408 17,789
Corporation tax 24,555 37,508
Social security and other taxes 1,360 25,920
Other creditors 136,195 136,195
Accrued expenses 4,000 4,000
314,518 221,412

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 10,482 4,525
Deferred tax on land 1,629,200 1,263,365
1,639,682 1,267,890

Deferred
tax
£   
Balance at 1 April 2022 1,267,890
Provided during year 371,792
Balance at 31 March 2023 1,639,682

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr J J S Capes.