2022-04-012023-03-312023-03-31false04630167HUNTER HARVESTING 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HUNTER HARVESTING LIMITED

Registered Number
04630167
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

HUNTER HARVESTING LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

Mr C J Hunter
Mrs E Hunter
Mr J W Hunter

Registered Address

Low Farm
Birtley
Hexham
NE48 3JL

Registered Number

04630167 (England and Wales)
HUNTER HARVESTING LIMITED
Statement of Financial Position
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets51,207,835691,386
1,207,835691,386
Current assets
Stocks13,52011,750
Debtors7105,910118,621
Cash at bank and on hand398,625355,135
518,055485,506
Creditors amounts falling due within one year8(490,740)(423,096)
Net current assets (liabilities)27,31562,410
Total assets less current liabilities1,235,150753,796
Creditors amounts falling due after one year9(437,707)(153,623)
Provisions for liabilities11(155,765)(117,200)
Net assets641,678482,973
Capital and reserves
Called up share capital100100
Profit and loss account641,578482,873
Shareholders' funds641,678482,973
The financial statements were approved and authorised for issue by the Board of Directors on 21 August 2023, and are signed on its behalf by:
Mr C J Hunter
Director
Registered Company No. 04630167
HUNTER HARVESTING LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Basis of measurement used in financial statements
The financial statements have been prepared under the historical cost convention on a going concern basis 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.
3.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-10
Plant and machinery20-
Fixtures and fittings-3
Vehicles25-
Office Equipment-3
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Valuation of financial instruments policy
The company 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.
4.Employee information

20232022
Average number of employees during the year33
5.Property, plant and equipment

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 April 2210,4321,788,98457,5801,6813,0791,861,756
Additions-950,998---950,998
Disposals-(499,468)---(499,468)
At 31 March 2310,4322,240,51457,5801,6813,0792,313,286
Depreciation and impairment
At 01 April 229,2571,106,16850,9791,6812,2851,170,370
Charge for year576254,9531,650-304257,483
On disposals-(322,402)---(322,402)
At 31 March 239,8331,038,71952,6291,6812,5891,105,451
Net book value
At 31 March 235991,201,7954,951-4901,207,835
At 31 March 221,175682,8166,601-794691,386
6.Description of financial commitments other than capital commitments
At 31 March 2023 the company had future minimum lease payments under non-cancellable operating leases of £25,000 (2022 - £35,000).
7.Debtors

2023

2022

££
Trade debtors / trade receivables46,93062,545
Other debtors9005,400
Prepayments and accrued income58,08050,676
Total105,910118,621
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables41,51559,445
Bank borrowings and overdrafts10,00010,000
Taxation and social security17,49434,024
Finance lease and HP contracts168,99887,004
Other creditors239,565209,894
Accrued liabilities and deferred income13,16822,729
Total490,740423,096
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Finance lease and HP contracts are secured against the assets to which they relate. Bank borrowings and overdrafts represents a bounce back loan obtained from the UK government. The loan is unsecured.
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts22,50032,500
Other creditors415,207121,123
Total437,707153,623
Finance lease and HP contracts equal to £415,207, (2022 - £121,123) are included within other creditors and are secured against the assets to which they relate. Bank borrowings and overdrafts represents a bounce back loan obtained from the UK government. The loan is unsecured.
10.Finance lease and HP contracts after one year

2023

2022

££
Finance lease and HP contracts415,207121,123
11.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)155,765117,200
Total155,765117,200