Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true2022-04-01falseFarming21trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03381342 2022-04-01 2023-03-31 03381342 2021-04-01 2022-03-31 03381342 2023-03-31 03381342 2022-03-31 03381342 c:CompanySecretary1 2022-04-01 2023-03-31 03381342 c:Director1 2022-04-01 2023-03-31 03381342 c:Director2 2022-04-01 2023-03-31 03381342 c:RegisteredOffice 2022-04-01 2023-03-31 03381342 d:Buildings 2022-04-01 2023-03-31 03381342 d:Buildings 2023-03-31 03381342 d:Buildings 2022-03-31 03381342 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03381342 d:PlantMachinery 2022-04-01 2023-03-31 03381342 d:PlantMachinery 2023-03-31 03381342 d:PlantMachinery 2022-03-31 03381342 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03381342 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03381342 d:CurrentFinancialInstruments 2023-03-31 03381342 d:CurrentFinancialInstruments 2022-03-31 03381342 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03381342 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 03381342 d:ShareCapital 2023-03-31 03381342 d:ShareCapital 2022-03-31 03381342 d:RetainedEarningsAccumulatedLosses 2023-03-31 03381342 d:RetainedEarningsAccumulatedLosses 2022-03-31 03381342 c:OrdinaryShareClass1 2022-04-01 2023-03-31 03381342 c:OrdinaryShareClass1 2023-03-31 03381342 c:FRS102 2022-04-01 2023-03-31 03381342 c:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 03381342 c:FullAccounts 2022-04-01 2023-03-31 03381342 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03381342 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-04-01 2023-03-31 03381342 2 2022-04-01 2023-03-31 03381342 6 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03381342










HELLINGTON FARM LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
HELLINGTON FARM LIMITED
 
 
COMPANY INFORMATION


Directors
J R Colman 
D J McLeavy Hill 




Company secretary
J R Colman



Registered number
03381342



Registered office
Hill Farm
Kirby Road

Kirby Bedon

Norwich

Norfolk

NR14 7DU




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
HELLINGTON FARM LIMITED
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2 - 3
Notes to the Financial Statements
 
 
4 - 8


 
HELLINGTON FARM LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HELLINGTON FARM LIMITED
FOR THE YEAR ENDED 31 MARCH 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hellington Farm Limited for the year ended 31 March 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Hellington Farm Limited, as a body, in accordance with the terms of our engagement letter dated 2 November 2022Our work has been undertaken solely to prepare for your approval the financial statements of Hellington Farm Limited  and state those matters that we have agreed to state to the Board of Directors of Hellington Farm Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hellington Farm Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Hellington Farm Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hellington Farm Limited. You consider that Hellington Farm Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Hellington Farm Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
14 November 2023
Page 1

 
HELLINGTON FARM LIMITED
REGISTERED NUMBER: 03381342

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
762,639
764,136

Investments
 5 
55
55

  
762,694
764,191

Current assets
  

Stocks
  
43,656
22,861

Debtors: amounts falling due within one year
 6 
39,299
24,336

Cash at bank and in hand
  
499,939
458,844

  
582,894
506,041

Creditors: amounts falling due within one year
 7 
(66,997)
(24,680)

Net current assets
  
 
 
515,897
 
 
481,361

  

Net assets
  
1,278,591
1,245,552


Capital and reserves
  

Called up share capital 
 8 
825,000
825,000

Profit and loss account
  
453,591
420,552

  
1,278,591
1,245,552


Page 2

 
HELLINGTON FARM LIMITED
REGISTERED NUMBER: 03381342
    
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 on 14 November 2023.




J R Colman
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
HELLINGTON FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The Company is a private company limited by shares. It is both incorporated and domiciled in England and Wales. The registered office address, and principal place of activity of the company is Hill Farm, Kirby Road, Kirby Bedon, Norwich, Norfolk NR14 7DU.
The company's principal activity continues to be that of farming.

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

Turnover comprises revenue recognised by the company in respect of crops and grants receivable, exclusive of Value Added Tax.

Revenue is recognised in the following manner:-

Crops sold - on physical delivery to the customer;
Grants income - in the year when the qualifying conditions entitling payment are met.

 
2.3

Interest income

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

 
2.4

Taxation

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.

 
2.5

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.

Page 4

 
HELLINGTON FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Property improvements
-
10%
reducing balance
Plant and equipment
-
33%
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.

 
2.6

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

Stocks

Stocks and closing valuation for cultivations (work in progress) are valued at the lower of cost and net realisable value. Costs have been determined from cost of production calculations. Net realisable value represents estimated selling price for produce in store with values reduced in accordance with guidance within H M Revenue & Customs help sheet HS232. Consumable stocks are valued at cost.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

Financial instruments

Page 5

 
HELLINGTON FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

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 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 1).

Page 6

 
HELLINGTON FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Freehold property & improvements
Plant & machinery
Total

£
£
£



Cost or valuation


At 1 April 2022
765,870
6,386
772,256



At 31 March 2023

765,870
6,386
772,256



Depreciation


At 1 April 2022
6,370
1,750
8,120


Charge for the year on owned assets
447
1,050
1,497



At 31 March 2023

6,817
2,800
9,617



Net book value



At 31 March 2023
759,053
3,586
762,639



At 31 March 2022
759,500
4,636
764,136


5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 April 2022
55



At 31 March 2023
55





6.


Debtors

2023
2022
£
£


Trade debtors
33,365
20,422

Other debtors
5,934
3,914
Page 7

 
HELLINGTON FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.Debtors (continued)


39,299
24,336



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
58,871
18,640

Other taxation and social security
8,126
6,040

66,997
24,680



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



825,000  shares of £1.00 each
825,000
825,000



9.


Transactions with directors

During the year the company made a temporary loan of £400,020 to one of its directors. The loan was repaid during the year. Interest totalling £2,382 was charged by the company on the loan.

Page 8