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REGISTERED NUMBER: 00338336 (England and Wales)















AVERYS (RADNAGE) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






AVERYS (RADNAGE) LIMITED (REGISTERED NUMBER: 00338336)






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 8


AVERYS (RADNAGE) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mrs P R Avery
R J Avery





REGISTERED OFFICE: Eastfield House
Eastfield Farm
Mavis Enderby
Spilsby
Lincolnshire
PE23 4EJ





REGISTERED NUMBER: 00338336 (England and Wales)





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

AVERYS (RADNAGE) LIMITED (REGISTERED NUMBER: 00338336)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 810 1,080
Property, plant and equipment 5 7,594,860 7,647,781
Investments 6 1,651,228 1,651,228
9,246,898 9,300,089

CURRENT ASSETS
Inventories 400,500 296,991
Debtors 7 135,990 26,827
Investments 8 615,679 826,608
Cash at bank 68,109 13,634
1,220,278 1,164,060
CREDITORS
Amounts falling due within one year 9 551,188 571,213
NET CURRENT ASSETS 669,090 592,847
TOTAL ASSETS LESS CURRENT LIABILITIES 9,915,988 9,892,936

CREDITORS
Amounts falling due after more than one year 10 6,129,868 6,346,685
NET ASSETS 3,786,120 3,546,251

CAPITAL AND RESERVES
Called up share capital 12 3,201,666 3,201,666
Fair value reserve 13 249,180 355,618
Retained earnings 335,274 (11,033 )
SHAREHOLDERS' FUNDS 3,786,120 3,546,251

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.

AVERYS (RADNAGE) LIMITED (REGISTERED NUMBER: 00338336)

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 by the Board of Directors and authorised for issue on 27 October 2023 and were signed on its behalf by:





Mrs P R Avery - Director


AVERYS (RADNAGE) LIMITED (REGISTERED NUMBER: 00338336)

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

1. STATUTORY INFORMATION

Averys (Radnage) 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue comprises sales of produce. Revenue is recognised when the significant risks and rewards have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and that the costs incurred, or to be incurred, in respect of the transaction can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any other accumulated impairment losses.

Property, plant & equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 15% 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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Inventories
Inventories are valued at the lower of cost and fair value less costs to sell, after making due allowance for obsolete and slow moving items.

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.


AVERYS (RADNAGE) LIMITED (REGISTERED NUMBER: 00338336)

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

2. ACCOUNTING POLICIES - continued
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.

Listed investments
Listed investments are shown at the most recent revaluation. Any surplus or deficit arising from changes in the fair value is recognised in the income statement.

Single farm payment
The Single farm payment is recognised in the financial statements in accordance with current H.M. Revenue & Customs guidance.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022
and 31 March 2023 165,649
AMORTISATION
At 1 April 2022 164,569
Charge for year 270
At 31 March 2023 164,839
NET BOOK VALUE
At 31 March 2023 810
At 31 March 2022 1,080

AVERYS (RADNAGE) LIMITED (REGISTERED NUMBER: 00338336)

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 7,485,347 1,200,670 8,686,017
Additions - 18,554 18,554
At 31 March 2023 7,485,347 1,219,224 8,704,571
DEPRECIATION
At 1 April 2022 - 1,038,236 1,038,236
Charge for year - 71,475 71,475
At 31 March 2023 - 1,109,711 1,109,711
NET BOOK VALUE
At 31 March 2023 7,485,347 109,513 7,594,860
At 31 March 2022 7,485,347 162,434 7,647,781

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 1,651,228
NET BOOK VALUE
At 31 March 2023 1,651,228
At 31 March 2022 1,651,228

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 26,267 5,107
Other debtors 109,723 21,720
135,990 26,827

8. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments 608,237 826,608
Investment Cash 7,442 -
615,679 826,608

AVERYS (RADNAGE) LIMITED (REGISTERED NUMBER: 00338336)

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

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 190,002 190,002
Hire purchase contracts 18,481 18,765
Trade creditors 72,687 72,131
Taxation and social security - 9,832
Other creditors 270,018 280,483
551,188 571,213

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 6,109,158 6,307,494
Hire purchase contracts 20,710 39,191
6,129,868 6,346,685

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 6,086,653 6,274,987

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 6,299,160 6,497,496
Hire purchase contracts 39,191 57,956
6,338,351 6,555,452

Bank loans are secured against farm land owned both by the company and its directors.

Hire purchase contracts are secured against the assets to which the hire purchase agreements relate to.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
3,201,666 Ordinary £1 3,201,666 3,201,666

AVERYS (RADNAGE) LIMITED (REGISTERED NUMBER: 00338336)

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

13. RESERVES
Fair
value
reserve
£   
At 1 April 2022 355,618
Transfer to fair value reserve (106,438 )

At 31 March 2023 249,180

The aggregate surplus on re-measurement of listed investments, net of associated deferred tax, is transferred to a separate non-distributable reserve in order to assist with the identification of those which are available for distribution.