Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-3113648false2022-04-01No description of principal activity57truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09525985 2022-04-01 2023-03-31 09525985 2021-04-01 2022-03-31 09525985 2023-03-31 09525985 2022-03-31 09525985 c:Director2 2022-04-01 2023-03-31 09525985 d:Buildings 2022-04-01 2023-03-31 09525985 d:Buildings 2023-03-31 09525985 d:Buildings 2022-03-31 09525985 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09525985 d:Buildings d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 09525985 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 09525985 d:Buildings d:ShortLeaseholdAssets 2022-04-01 2023-03-31 09525985 d:Buildings d:ShortLeaseholdAssets 2023-03-31 09525985 d:Buildings d:ShortLeaseholdAssets 2022-03-31 09525985 d:PlantMachinery 2022-04-01 2023-03-31 09525985 d:PlantMachinery 2023-03-31 09525985 d:PlantMachinery 2022-03-31 09525985 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09525985 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 09525985 d:MotorVehicles 2022-04-01 2023-03-31 09525985 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09525985 d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 09525985 d:CurrentFinancialInstruments 2023-03-31 09525985 d:CurrentFinancialInstruments 2022-03-31 09525985 d:Non-currentFinancialInstruments 2023-03-31 09525985 d:Non-currentFinancialInstruments 2022-03-31 09525985 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09525985 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 09525985 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09525985 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 09525985 d:ShareCapital 2023-03-31 09525985 d:ShareCapital 2022-03-31 09525985 d:CapitalRedemptionReserve 2023-03-31 09525985 d:CapitalRedemptionReserve 2022-03-31 09525985 d:RetainedEarningsAccumulatedLosses 2023-03-31 09525985 d:RetainedEarningsAccumulatedLosses 2022-03-31 09525985 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 09525985 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 09525985 c:FRS102 2022-04-01 2023-03-31 09525985 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 09525985 c:FullAccounts 2022-04-01 2023-03-31 09525985 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09525985 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 09525985 d:HirePurchaseContracts d:WithinOneYear 2022-03-31 09525985 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 09525985 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-03-31 09525985 2 2022-04-01 2023-03-31 09525985 7 2022-04-01 2023-03-31 09525985 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-03-31 09525985 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-03-31 09525985 d:LeasedAssetsHeldAsLessee 2023-03-31 09525985 d:LeasedAssetsHeldAsLessee 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 09525985










YOCKLETON GROWERS LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
YOCKLETON GROWERS LTD
REGISTERED NUMBER: 09525985

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,548,608
3,009,952

  
3,548,608
3,009,952

Current assets
  

Stocks
  
466,983
312,422

Debtors
 5 
331,098
332,031

Cash at bank and in hand
  
-
732,161

  
798,081
1,376,614

Creditors: amounts falling due within one year
 6 
(756,001)
(893,544)

Net current assets
  
 
 
42,080
 
 
483,070

Total assets less current liabilities
  
3,590,688
3,493,022

Creditors: amounts falling due after more than one year
 7 
(17,167)
(136,157)

Provisions for liabilities
  

Deferred tax
 9 
(318,629)
(288,020)

  
 
 
(318,629)
 
 
(288,020)

Net assets
  
3,254,892
3,068,845


Capital and reserves
  

Called up share capital 
  
1,595,302
1,595,302

Capital redemption reserve
  
905,000
905,000

Profit and loss account
  
754,590
568,543

  
3,254,892
3,068,845

Page 1

 
YOCKLETON GROWERS LTD
REGISTERED NUMBER: 09525985
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P A J Williams
Director

Date: 6 November 2023

The notes on pages 3 to 11 form part of these financial statements.
Page 2

 
YOCKLETON GROWERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Yockleton Growers Limited, 9525985, is a private company limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Bank House Farm, Yockleton, Shrewsbury, Shropshire, SY5 9PH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
YOCKLETON GROWERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
YOCKLETON GROWERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, according to the depreciation methods as noted below.

Depreciation is provided on the following basis:

Poultry unit - other
-
25%
reducing balance
Poultry unit - biomass boiler
-
5%
straight line
Poultry unit - plant and machinery
-
10%
reducing balance
Poultry unit - solar panels
-
5%
straight line
Poultry unit - chicken muck burner
-
5%
straight line

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
YOCKLETON GROWERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

Stocks

Farming stocks are valued in accordance with HM Revenue & Customs help sheet HS232.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.16

Financial instruments

The Company only 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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected
Page 6

 
YOCKLETON GROWERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.16
Financial instruments (continued)

to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 7).

Page 7

 
YOCKLETON GROWERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Freehold property
Leasehold property improvement
Plant and machinery
Total

£
£
£
£



Cost or valuation


At 1 April 2022
323,124
192,948
4,122,974
4,639,046


Additions
519,174
2,566
421,456
943,196


Disposals
-
-
(6,498)
(6,498)



At 31 March 2023

842,298
195,514
4,537,932
5,575,744



Depreciation


At 1 April 2022
-
23,983
1,605,111
1,629,094


Charge for the year on owned assets
-
13,648
319,068
332,716


Charge for the year on financed assets
-
-
65,326
65,326



At 31 March 2023

-
37,631
1,989,505
2,027,136



Net book value



At 31 March 2023
842,298
157,883
2,548,427
3,548,608



At 31 March 2022
323,124
168,965
2,517,863
3,009,952

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
702,686
716,512

702,686
716,512

Page 8

 
YOCKLETON GROWERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors


2023
2022
£
£



Trade debtors
78,477
189,846

Other debtors
223,565
112,326

Prepayments and accrued income
3,542
4,345

Tax recoverable
25,514
25,514

331,098
332,031



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
53,396
-

Trade creditors
526,772
490,907

Corporation tax
-
46,061

Other taxation and social security
3,331
10,385

Obligations under finance lease and hire purchase contracts
153,324
136,157

Accruals and deferred income
19,178
210,034

756,001
893,544


The following liabilities were secured:

2023
2022
£
£



Bank overdraft
53,396
-

53,396
-

Details of security provided:

The bank overdraft is secured by a charge to Barclays Bank UK PLC of the assets of the company.

Page 9

 
YOCKLETON GROWERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
17,167
136,157

17,167
136,157


The following liabilities were secured:

2023
2022
£
£



Net obligations under finance leases and hire purchase contracts
170,490
272,314

170,490
272,314

Details of security provided:

The hire purchase contracts are secured on the assets to which they relate.


8.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
153,324
136,157

Between 1-5 years
17,167
136,157

170,491
272,314


9.


Deferred taxation




2023


£






At beginning of year
(288,020)


Charged to profit or loss
(30,609)



At end of year
(318,629)

Page 10

 
YOCKLETON GROWERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(318,629)
(288,020)

(318,629)
(288,020)


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. 
The pension cost charge represents contributions payable by the Company  to the fund and amounted to £2,831 (2022: £2,685). Contributions totalling £nil (2022: £156) were payable to the fund at the balance sheet date and are included in creditors.


11.


Related party transactions

The Company has entered into an operating lease for land with the connect unicorporated partnership owned by the directors of Yockleton Growers Limited. This lease contains a break clause after 10 years. The Company has a commitment to an annual rent of £4,000 for the length of the operating lease with is due to end on 31 December 2025. The annual rent is subject to review every third anniversary of the date of commencement, being 20 September 2015.

 
Page 11