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REGISTERED NUMBER: 01163131 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Holton Farms Limited

Holton Farms Limited (Registered number: 01163131)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Holton Farms Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Mrs R E Gibbons
J E Gibbons
T J Gibbons





SECRETARY: Mrs R E Gibbons





REGISTERED OFFICE: The Hall
Gatehouse Road
Holton-le-Moor
Lincolnshire
LN7 6AG





REGISTERED NUMBER: 01163131 (England and Wales)





ACCOUNTANTS: Hardcastle France
Chartered Accountants
30 Yorkersgate
Malton
North Yorkshire
YO17 7AW

Holton Farms Limited (Registered number: 01163131)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 778,967 690,864

CURRENT ASSETS
Stocks 589,091 396,542
Debtors 5 258,902 161,752
847,993 558,294
CREDITORS
Amounts falling due within one year 6 422,327 619,304
NET CURRENT ASSETS/(LIABILITIES) 425,666 (61,010 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,204,633 629,854

CREDITORS
Amounts falling due after more than one
year

7

(493,776

)

-

PROVISIONS FOR LIABILITIES (81,891 ) (86,821 )
NET ASSETS 628,966 543,033

CAPITAL AND RESERVES
Called up share capital 9 52 52
Capital redemption reserve 48 48
Retained earnings 628,866 542,933
SHAREHOLDERS' FUNDS 628,966 543,033

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

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

Holton Farms Limited (Registered number: 01163131)

Balance Sheet - continued
31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2023 and were signed on its behalf by:




J E Gibbons - Director



Mrs R E Gibbons - Director


Holton Farms Limited (Registered number: 01163131)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Holton 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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.
Plant and machinery etc - 25% on cost and 20% on reducing balance

Stocks
Stocks are valued at the lower of cost or net realisable value.

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

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Holton Farms Limited (Registered number: 01163131)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 1,556,248
Additions 274,138
Disposals (189,600 )
At 31 May 2023 1,640,786
DEPRECIATION
At 1 June 2022 865,385
Charge for year 172,427
Eliminated on disposal (175,993 )
At 31 May 2023 861,819
NET BOOK VALUE
At 31 May 2023 778,967
At 31 May 2022 690,863


Holton Farms Limited (Registered number: 01163131)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 145,551 94,181
Other debtors 22,243 -
Directors' current accounts 65,904 -
VAT 25,204 67,571
258,902 161,752

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 136,870 88,014
Hire purchase contracts 88,139 -
Trade creditors 45,292 398,683
Social security and other taxes 27,981 5,662
Other creditors 17,465 -
Directors' current accounts 100,000 105,555
Accrued expenses 6,580 21,390
422,327 619,304

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 24,483 -
Bank loans - 2-5 years 83,310 -
Bank loans more than 5 years by
instalments

163,747

-
Hire purchase contracts 222,236 -
493,776 -

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years by
instalments

163,747

-

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 113,867 88,014
Bank loans 294,543 -
Hire purchase contracts 310,375 -
718,785 88,014

Holton Farms Limited (Registered number: 01163131)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
52 Ordinary 1 52 52

10. RELATED PARTY DISCLOSURES

As at 31 May 2023 the company owed £Nil to a director (2022: £5,556). At 31 May 2023, an amount of £65,904 is owed to the company (2022: £Nil) The company has charged interest in overdrawn periods. The maximum amount owing to the company at any time amounted to £111,845 (2022: £209,564). This loan is repayable on demand and classified in creditors due within one year (debtors due within one year in 2023).

Dividends paid to directors amounted to £2,860 (2022: £2,860).