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REGISTERED NUMBER: 00599804 (England and Wales)


















Unaudited Financial Statements for the Year Ended 31st March 2023

for

Cattle (Holderness) Limited

Cattle (Holderness) Limited (Registered number: 00599804)






Contents of the Financial Statements
for the year ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cattle (Holderness) Limited

Company Information
for the year ended 31st March 2023







DIRECTORS: R G Buckle
R P Buckle
R J Buckle





SECRETARY: R G Buckle





REGISTERED OFFICE: West Farm
Sunk Island
Ottringham
East Yorkshire
HU12 0AP





REGISTERED NUMBER: 00599804 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire HU2 8BA

Cattle (Holderness) Limited (Registered number: 00599804)

Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 17,046,965 12,622,234
Investment property 6 611,688 2,437,622
17,658,653 15,059,856

CURRENT ASSETS
Stocks 863,115 992,985
Debtors 7 463,640 273,535
Cash at bank and in hand 448 1,436,861
1,327,203 2,703,381
CREDITORS
Amounts falling due within one year 8 3,280,786 2,559,902
NET CURRENT (LIABILITIES)/ASSETS (1,953,583 ) 143,479
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,705,070

15,203,335

CREDITORS
Amounts falling due after more than one
year

9

(5,793,928

)

(5,903,108

)

PROVISIONS FOR LIABILITIES (1,206,124 ) (799,358 )
NET ASSETS 8,705,018 8,500,869

CAPITAL AND RESERVES
Called up share capital 6,000 6,000
Revaluation reserve 2,848,905 2,828,355
Fair value reserve 49,736 49,736
Retained earnings 5,800,377 5,616,778
SHAREHOLDERS' FUNDS 8,705,018 8,500,869

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

Cattle (Holderness) Limited (Registered number: 00599804)

Balance Sheet - continued
31st 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th August 2023 and were signed on its behalf by:




R P Buckle - Director



R J Buckle - Director


Cattle (Holderness) Limited (Registered number: 00599804)

Notes to the Financial Statements
for the year ended 31st March 2023

1. STATUTORY INFORMATION

Cattle (Holderness) 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared in accordance with applicable accounting standards including Section 1A of Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. The company adopted FRS 102 in the current year and an explanation of how transition to FRS 102 has affected the reported financial position and performance is given in note 15.

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 fixed assets
Basic Payment Scheme entitlements are initially recognised at cost and are amortised on a straight line basis over their expected useful life. At the reporting date, the expected useful life has finished.

Entitlements acquired via the ownership of existing land, and therefore have no cost, have been revalued to fair value on transition to FRS102 and are being amortised over their expected useful life in accordance with the above period of benefit expected from the basic payment scheme.

Provision is made for any impairment.

Under FRS102, intangible assets are being recognised using the cost model. The entitlements previously owned by the company, but acquired at £Nil cost, were revalued to their fair value on the transition date, which has subsequently been treated as their deemed cost and have been amortised in line with the accounting policy. The amortised fair value element of the NBV at 31 March 2023 is nil.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation
Depreciation of fixed assets is charged by annual instalments commencing with the year of acquisition at rates estimated to write off their cost less any residual value over the expected useful lives.

The annual rates used are as follows:

Freehold propertyNil
Buildings5-10% on reducing balance
Plant and machinery - Other15-20% on reducing balance
Plant and machinery - Arable15-20% on reducing balance
Motor vehicles25% on reducing balance
Plant and machinery - Pigs15-20% on reducing balance

Cattle (Holderness) Limited (Registered number: 00599804)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

2. ACCOUNTING POLICIES - continued

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties for which fair value can be measured reliably are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

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

Biological assets in stock are valued under the cost model in accordance with Section 34 of FRS102, using the lower of cost and estimated selling price less costs to complete and sell method.

Current & deferred tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current and past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 and other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

Cattle (Holderness) Limited (Registered number: 00599804)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st April 2022
and 31st March 2023 74,051
AMORTISATION
At 1st April 2022
and 31st March 2023 74,051
NET BOOK VALUE
At 31st March 2023 -
At 31st March 2022 -

5. TANGIBLE FIXED ASSETS
Plant &
Freehold machinery
property Buildings - Other
£    £    £   
COST OR VALUATION
At 1st April 2022 10,701,261 680,610 121,895
Additions 55,405 2,662,535 -
Disposals - - -
Reclassification/transfer - 1,813,935 -
At 31st March 2023 10,756,666 5,157,080 121,895
DEPRECIATION
At 1st April 2022 - 178,633 117,522
Charge for year - 154,064 2,388
Eliminated on disposal - - -
Reclassification/transfer - 54,051 -
At 31st March 2023 - 386,748 119,910
NET BOOK VALUE
At 31st March 2023 10,756,666 4,770,332 1,985
At 31st March 2022 10,701,261 501,977 4,373

Cattle (Holderness) Limited (Registered number: 00599804)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

5. TANGIBLE FIXED ASSETS - continued

Plant & Plant &
machinery Motor machinery
- Arable vehicles - Pigs Totals
£    £    £    £   
COST OR VALUATION
At 1st April 2022 1,724,076 54,072 2,026,107 15,308,021
Additions 219,380 - 110,147 3,047,467
Disposals (70,431 ) - - (70,431 )
Reclassification/transfer - - - 1,813,935
At 31st March 2023 1,873,025 54,072 2,136,254 20,098,992
DEPRECIATION
At 1st April 2022 1,086,038 21,261 1,282,333 2,685,787
Charge for year 144,849 7,073 67,256 375,630
Eliminated on disposal (63,441 ) - - (63,441 )
Reclassification/transfer - - - 54,051
At 31st March 2023 1,167,446 28,334 1,349,589 3,052,027
NET BOOK VALUE
At 31st March 2023 705,579 25,738 786,665 17,046,965
At 31st March 2022 638,038 32,811 743,774 12,622,234

Cost or valuation at 31st March 2023 is represented by:

Plant &
Freehold machinery
property Buildings - Other
£    £    £   
Valuation in 2008 3,202,976 - -
Cost 7,553,690 5,157,080 121,895
10,756,666 5,157,080 121,895

Plant & Plant &
machinery Motor machinery
- Arable vehicles - Pigs Totals
£    £    £    £   
Valuation in 2008 - - - 3,202,976
Cost 1,873,025 54,072 2,136,254 16,896,016
1,873,025 54,072 2,136,254 20,098,992

Cattle (Holderness) Limited (Registered number: 00599804)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

5. TANGIBLE FIXED ASSETS - continued

If Freehold property had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 7,553,690 7,498,285

Value of land in freehold land and buildings 10,756,666 10,701,261

Freehold property were valued on an open market basis on 3rd December 2008 by Frank Hill and Son .

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2022 3,265,621
Revaluations 20,549
Reclassification/transfer (1,813,935 )
At 31st March 2023 1,472,235
DEPRECIATION
At 1st April 2022 827,999
Charge for year 86,599
Reclassification/transfer (54,051 )
At 31st March 2023 860,547
NET BOOK VALUE
At 31st March 2023 611,688
At 31st March 2022 2,437,622

Fair value at 31st March 2023 is represented by:
£   
Valuation in 2023 20,549
Cost 1,451,686
1,472,235

If 12 Greenshaw Lane had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 119,450 119,450

12 Greenshaw Lane was valued on open market basis on 31st March 2023 by Frank Hill & Son .

Cattle (Holderness) Limited (Registered number: 00599804)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 280,080 171,885
Other debtors 183,560 101,650
463,640 273,535

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 1,062,894 217,263
Hire purchase contracts 47,373 103,282
Trade creditors 729,295 397,639
Taxation and social security 621 8,470
Other creditors 1,440,603 1,833,248
3,280,786 2,559,902

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 2,977,829 3,203,108
Hire purchase contracts 116,099 -
Amounts owed to group undertakings 2,700,000 2,700,000
5,793,928 5,903,108

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 837,615 -
Bank loans 3,203,108 3,420,371
4,040,723 3,420,371

The above bank loans have been taken out with Yorkshire Bank, and are secured on land owned by the company.

11. RELATED PARTY DISCLOSURES

Balance of loans outstanding to the directors at the year end £1,412,982 (2022 £1,809,774).