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REGISTERED NUMBER: 07566574 (England and Wales)















HARDSTAFF LINBY UNLIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






HARDSTAFF LINBY UNLIMITED (REGISTERED NUMBER: 07566574)






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




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


HARDSTAFF LINBY UNLIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: T R Hardstaff
J W Hardstaff
M J Hardstaff
Mrs C Y M Hardstaff
Mrs A M Hardstaff





SECRETARY: Mrs C Y M Hardstaff





REGISTERED OFFICE: Hall Farm
Linby
Nottingham
Nottinghamshire
NG15 8AE





REGISTERED NUMBER: 07566574 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 London Road
Newark
Nottinghamshire
NG24 1TW

HARDSTAFF LINBY UNLIMITED (REGISTERED NUMBER: 07566574)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 3,786,843 3,621,844
3,786,843 3,621,844

CURRENT ASSETS
Inventories 585,049 563,808
Debtors 6 331,277 410,552
Cash at bank 767,245 270
1,683,571 974,630
CREDITORS
Amounts falling due within one year 7 987,465 782,479
NET CURRENT ASSETS 696,106 192,151
TOTAL ASSETS LESS CURRENT LIABILITIES 4,482,949 3,813,995

CREDITORS
Amounts falling due after more than one year 8 (1,973,237 ) (1,692,630 )

PROVISIONS FOR LIABILITIES (349,127 ) (230,093 )
NET ASSETS 2,160,585 1,891,272

CAPITAL AND RESERVES
Called up share capital 10 5,000 5,000
Retained earnings 2,155,585 1,886,272
SHAREHOLDERS' FUNDS 2,160,585 1,891,272

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.

HARDSTAFF LINBY UNLIMITED (REGISTERED NUMBER: 07566574)

STATEMENT OF FINANCIAL POSITION - 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 and authorised for issue by the Board of Directors and authorised for issue on 9 October 2023 and were signed on its behalf by:





T R Hardstaff - Director


HARDSTAFF LINBY UNLIMITED (REGISTERED NUMBER: 07566574)

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

1. STATUTORY INFORMATION

Hardstaff Linby Unlimited is a private company , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company does not have limited liability.

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.

Revenue
Revenue represents invoiced sales of produce excluding value added tax.

Sales of produce are recognised upon despatch.

Intangible assets
Intangible assets consist of entitlements to the basic payment. The entitlements are recognised at fair value and written off on a straight line basis over the period to 31 December 2019 when the scheme ends.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land & Buildings - not provided
Leasehold property - 5% on cost
Plant and machinery - 10% on reducing balance
Tractors - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Renewable energy equipment - 5% on cost

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.

Inventories
Inventories represents the farm valuation which has been prepared by the valuers at the lower of cost and fair value less costs to complete and sell.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


HARDSTAFF LINBY UNLIMITED (REGISTERED NUMBER: 07566574)

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

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
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 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Entitlements
£   
COST
At 1 April 2022
and 31 March 2023 126,477
AMORTISATION
At 1 April 2022
and 31 March 2023 126,477
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

HARDSTAFF LINBY UNLIMITED (REGISTERED NUMBER: 07566574)

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

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 2,542,598 3,075,545 5,618,143
Additions - 343,015 343,015
Disposals - (146,023 ) (146,023 )
At 31 March 2023 2,542,598 3,272,537 5,815,135
DEPRECIATION
At 1 April 2022 144,293 1,852,006 1,996,299
Charge for year 19,738 124,695 144,433
Eliminated on disposal - (112,440 ) (112,440 )
At 31 March 2023 164,031 1,864,261 2,028,292
NET BOOK VALUE
At 31 March 2023 2,378,567 1,408,276 3,786,843
At 31 March 2022 2,398,305 1,223,539 3,621,844


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 288,842 347,846
Other debtors - 11,720
VAT 22,010 35,221
Prepayments 20,425 15,765
331,277 410,552

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 80,955 275,780
SSAS Loan within 1 yr 173,863 175,687
Hire purchase contracts 51,000 29,154
Trade creditors 174,491 70,935
Tax 76,722 138,692
Social security and other taxes 2,725 3,164
Directors' loan accounts 303,894 44,672
Accrued expenses 123,815 44,395
987,465 782,479

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 323,822 315,553
Bank loans > 5yrs 926,285 1,017,575
SSAS Loan over 1 yr 671,630 359,502
Hire purchase contracts 51,500 -
1,973,237 1,692,630

HARDSTAFF LINBY UNLIMITED (REGISTERED NUMBER: 07566574)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans > 5yrs 926,285 1,017,575

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 196,892
Bank loans 1,331,062 1,412,016
Hire purchase contracts 102,500 29,154
1,433,562 1,638,062

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
5,000 Ordinary £1 5,000 5,000