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REGISTERED NUMBER: 02517001 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 MARCH 2022 TO 27 FEBRUARY 2023

FOR

MOOR HOUSE FARMING LIMITED

MOOR HOUSE FARMING LIMITED (REGISTERED NUMBER: 02517001)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 1 March 2022 to 27 February 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MOOR HOUSE FARMING LIMITED

COMPANY INFORMATION
for the Period 1 March 2022 to 27 February 2023







DIRECTORS: A S Tomlinson
J L Tomlinson





SECRETARY: Mrs C A Tomlinson





REGISTERED OFFICE: Moor House Farm
New Road
Brandesburton
Driffield
East Yorkshire
YO25 8EN





REGISTERED NUMBER: 02517001 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

MOOR HOUSE FARMING LIMITED (REGISTERED NUMBER: 02517001)

BALANCE SHEET
27 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,800 2,000
Tangible assets 5 4,837,402 3,268,032
4,839,202 3,270,032

CURRENT ASSETS
Stocks 6 302,553 202,121
Debtors 7 29,570 18,534
Cash at bank 334,609 293,985
666,732 514,640
CREDITORS
Amounts falling due within one year 8 303,617 215,253
NET CURRENT ASSETS 363,115 299,387
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,202,317

3,569,419

CREDITORS
Amounts falling due after more than one year 9 (2,210,160 ) (833,820 )

PROVISIONS FOR LIABILITIES (134,132 ) (111,158 )
NET ASSETS 2,858,025 2,624,441

CAPITAL AND RESERVES
Called up share capital 1,200,100 1,200,100
Retained earnings 1,657,925 1,424,341
SHAREHOLDERS' FUNDS 2,858,025 2,624,441

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 27 February 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 27 February 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.

MOOR HOUSE FARMING LIMITED (REGISTERED NUMBER: 02517001)

BALANCE SHEET - continued
27 February 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2023 and were signed on its behalf by:





J L Tomlinson - Director


MOOR HOUSE FARMING LIMITED (REGISTERED NUMBER: 02517001)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 1 March 2022 to 27 February 2023


1. STATUTORY INFORMATION

Moor House Farming Limited is a private company, limited by shares, registered and domiciled in England. The company's registered number is 02517001 and its registered office address and principal place of business is Moor House Farm, New Road, Brandesburton, Driffield, East Yorkshire, YO25 8EN.

The registered office address of this company's parent company, L V Tomlinson and Son Limited, is Catwick Lane, Brandesburton, Driffield, YO25 8RY.

The financial statements are presented in Sterling, which is the functional currency of the company and cover the individual entity only.

The principal activity of the company is farming.

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

All sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

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

Entitlements are being amortised evenly over their estimated useful life of ten years.

MOOR HOUSE FARMING LIMITED (REGISTERED NUMBER: 02517001)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 March 2022 to 27 February 2023


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost excluding land
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Tangible fixed assets are held under the historical cost model.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making, due allowance for obsolete and slow moving items. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stock is calculated on the first in first out basis.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 period 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.

MOOR HOUSE FARMING LIMITED (REGISTERED NUMBER: 02517001)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 March 2022 to 27 February 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.

Financial instruments
All financial instruments are measured at amortised cost.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2022
and 27 February 2023 2,000
AMORTISATION
Charge for period 200
At 27 February 2023 200
NET BOOK VALUE
At 27 February 2023 1,800
At 28 February 2022 2,000

MOOR HOUSE FARMING LIMITED (REGISTERED NUMBER: 02517001)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 March 2022 to 27 February 2023


5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 March 2022 2,708,993 1,193,847 29,606 3,932,446
Additions 1,619,593 75,900 - 1,695,493
Disposals - (13,500 ) - (13,500 )
At 27 February 2023 4,328,586 1,256,247 29,606 5,614,439
DEPRECIATION
At 1 March 2022 26,001 624,597 13,816 664,414
Charge for period 1,710 118,541 3,158 123,409
Eliminated on disposal - (10,786 ) - (10,786 )
At 27 February 2023 27,711 732,352 16,974 777,037
NET BOOK VALUE
At 27 February 2023 4,300,875 523,895 12,632 4,837,402
At 28 February 2022 2,682,992 569,250 15,790 3,268,032

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 March 2022
and 27 February 2023 611,476
DEPRECIATION
At 1 March 2022 210,951
Charge for period 80,105
At 27 February 2023 291,056
NET BOOK VALUE
At 27 February 2023 320,420
At 28 February 2022 400,525

6. STOCKS
2023 2022
£    £   
Valuation 302,553 202,121

MOOR HOUSE FARMING LIMITED (REGISTERED NUMBER: 02517001)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 March 2022 to 27 February 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 16,040 8,635
VAT 10,371 7,156
Prepayments 3,159 2,743
29,570 18,534

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 52,599 32,478
Hire purchase contracts 61,871 69,792
Trade creditors 33,945 15,672
Tax 70,061 10,519
Directors' current accounts 47,250 45,628
Accruals and deferred income 37,891 41,164
303,617 215,253

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 55,571 33,918
Bank loans - 2-5 years 186,145 110,143
Bank loans 1,541,663 319,032
Hire purchase contracts 73,309 135,180
Amounts owed to parent company 353,472 235,547
2,210,160 833,820

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 1,541,663 319,032

The loan from the parent company has no fixed repayment terms and the director believes that the value held in the accounts is not significantly different from the present value of the future payments discounted at a market rate.

MOOR HOUSE FARMING LIMITED (REGISTERED NUMBER: 02517001)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 March 2022 to 27 February 2023


10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,835,978 495,571
Hire purchase contracts 135,180 204,972
1,971,158 700,543

The bank loans are secured by way of fixed and floating charges over the assets of the company. The hire purchase contracts are secured on the assets they are financing.

11. RELATED PARTY DISCLOSURES

Included within other creditors is a loan to the company from the director, A S Tomlinson. The balance owing at 27 February 2023 was £47,249 (2022: £45,628). The loan was made on an interest free basis and is repayable on demand.

Included within creditors due in more than one year is a loan to the company from L V Tomlinson and Son Limited, the ultimate parent company.The balance outstanding at 27 February 2023 was £170,170 (2022: £52,245). The loan was made on an interest free basis and is not repayable within 12 months.

Included within creditors due in more than one year is a loan to the company from L. V. Tomlinson Holdings Limited. The balance outstanding at 27 February 2023 was £183,302 (2022: £183,302). The loan was made on an interest free basis and is not repayable within 12 months.

The company farms 61 acres of land which is jointly owned by A S Tomlinson and J L Tomlinson. The company receives all the income and bears all the costs, but pays no rent.