Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The tax expense for the year comprises current and deferred tax. 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 is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2022-04-01falseservice activities for crop production and support activities for animal production.1010true 03369501 2022-04-01 2023-03-31 03369501 2021-04-01 2022-03-31 03369501 2023-03-31 03369501 2022-03-31 03369501 c:CompanySecretary1 2022-04-01 2023-03-31 03369501 c:Director2 2022-04-01 2023-03-31 03369501 c:Director3 2022-04-01 2023-03-31 03369501 c:Director4 2022-04-01 2023-03-31 03369501 c:Director5 2022-04-01 2023-03-31 03369501 c:Director6 2022-04-01 2023-03-31 03369501 c:RegisteredOffice 2022-04-01 2023-03-31 03369501 d:Buildings 2022-04-01 2023-03-31 03369501 d:Buildings 2023-03-31 03369501 d:Buildings 2022-03-31 03369501 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03369501 d:Buildings d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 03369501 d:PlantMachinery 2022-04-01 2023-03-31 03369501 d:PlantMachinery 2023-03-31 03369501 d:PlantMachinery 2022-03-31 03369501 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03369501 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 03369501 d:MotorVehicles 2022-04-01 2023-03-31 03369501 d:MotorVehicles 2023-03-31 03369501 d:MotorVehicles 2022-03-31 03369501 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03369501 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 03369501 d:FurnitureFittings 2022-04-01 2023-03-31 03369501 d:FurnitureFittings 2023-03-31 03369501 d:FurnitureFittings 2022-03-31 03369501 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03369501 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 03369501 d:OfficeEquipment 2022-04-01 2023-03-31 03369501 d:OfficeEquipment 2023-03-31 03369501 d:OfficeEquipment 2022-03-31 03369501 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03369501 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 03369501 d:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 03369501 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03369501 d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 03369501 d:CurrentFinancialInstruments 2023-03-31 03369501 d:CurrentFinancialInstruments 2022-03-31 03369501 d:Non-currentFinancialInstruments 2023-03-31 03369501 d:Non-currentFinancialInstruments 2022-03-31 03369501 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03369501 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 03369501 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 03369501 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 03369501 d:ShareCapital 2023-03-31 03369501 d:ShareCapital 2022-03-31 03369501 d:RetainedEarningsAccumulatedLosses 2023-03-31 03369501 d:RetainedEarningsAccumulatedLosses 2022-03-31 03369501 c:FRS102 2022-04-01 2023-03-31 03369501 c:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 03369501 c:FullAccounts 2022-04-01 2023-03-31 03369501 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03369501 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 03369501










GOODERHAM FARMS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
GOODERHAM FARMS LIMITED
 
 
COMPANY INFORMATION


Directors
Mrs P M Gooderham 
R J B Gooderham 
Mrs C Gooderham 
J R B Gooderham 
G E B Gooderham 




Company secretary
R J B Gooderham



Registered number
03369501



Registered office
High Bank
5 Yealmview Road

Newton Ferrers

Plymouth

PL8 1AN




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
GOODERHAM FARMS LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 9


 
GOODERHAM FARMS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GOODERHAM FARMS 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 Gooderham Farms 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 Gooderham Farms Limited, as a body, in accordance with the terms of our engagement letter dated 26 July 2019Our work has been undertaken solely to prepare for your approval the financial statements of Gooderham Farms Limited  and state those matters that we have agreed to state to the Board of directors of Gooderham Farms 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 Gooderham Farms Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Gooderham Farms 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 Gooderham Farms Limited. You consider that Gooderham Farms 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 Gooderham Farms 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
19 September 2023
Page 1

 
GOODERHAM FARMS LIMITED
REGISTERED NUMBER: 03369501

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,563,826
6,394,486

  
6,563,826
6,394,486

Current assets
  

Stocks
  
44,080
47,115

Debtors: amounts falling due after more than one year
 5 
1,060,900
1,030,000

Debtors: amounts falling due within one year
 5 
11,666,187
9,387,637

Cash at bank and in hand
  
1,772,570
1,383,194

  
14,543,737
11,847,946

Creditors: amounts falling due within one year
 6 
(1,845,064)
(732,619)

Net current assets
  
 
 
12,698,673
 
 
11,115,327

Total assets less current liabilities
  
19,262,499
17,509,813

Creditors: amounts falling due after more than one year
 7 
(119,101)
(97,333)

Provisions for liabilities
  

Deferred tax
  
(1,137,898)
(736,661)

Net assets
  
18,005,500
16,675,819


Capital and reserves
  

Called up share capital 
  
100,000
100,000

Profit and loss account
  
17,905,500
16,575,819

  
18,005,500
16,675,819


Page 2

 
GOODERHAM FARMS LIMITED
REGISTERED NUMBER: 03369501
    
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 30 August 2023.




R J B Gooderham
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
GOODERHAM FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The company is a United Kingdom registered company limited by shares. It is both incorporated and domiciled in England and Wales. The registered office of the company is High Bank, 5 Yealmview Road, Newton Ferrers, Plymouth, PL8 1AN. The principal place of business is Garboldisham, Norfolk.
The company's principal activities are that of contracting and as a partner within a farming partnership.

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

Turnover

Turnover comprises revenue recognised by the company in respect of contracting fees receivable, and its share of results as a partners within a farming partnership, exclusive of Value Added Tax.

 
2.3

Interest income

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

 
2.4

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.

 
2.5

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

 
GOODERHAM FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 

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 is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

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, on both a straight line, and reducing balance method.

Depreciation is provided on the following basis:

Poultry houses
-
4%
straight line
Plant and machinery
-
15%
reducing balance
Motor vehicles
-
25%
reducing balance
Tractors
-
15%
reducing balance
Combines
-
20%
reducing balance
Trailers
-
15%
reducing balance

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.

 
2.8

Stocks

Stocks are valued at cost.

Page 5

 
GOODERHAM FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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 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 10 (2022 - 10).

Page 6

 
GOODERHAM FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Poultry houses
Plant & machinery
Motor vehicles & trailers
Tractors
Combines
Total

£
£
£
£
£
£



Cost or valuation


At 1 April 2022
3,222,056
5,013,575
599,655
1,606,212
627,093
11,068,591


Additions
1,231
28,235
3,175
516,375
621,000
1,170,016


Disposals
-
(2,484)
(5,198)
(218,878)
(372,093)
(598,653)



At 31 March 2023

3,223,287
5,039,326
597,632
1,903,709
876,000
11,639,954



Depreciation


At 1 April 2022
1,134,125
2,324,726
347,147
584,096
284,011
4,674,105


Charge for the year on owned assets
127,770
407,452
52,232
75,858
44,200
707,512


Charge for the year on financed assets
-
-
-
64,558
-
64,558


Disposals
-
(1,747)
(4,590)
(113,700)
(250,010)
(370,047)



At 31 March 2023

1,261,895
2,730,431
394,789
610,812
78,201
5,076,128



Net book value



At 31 March 2023
1,961,392
2,308,895
202,843
1,292,897
797,799
6,563,826



At 31 March 2022
2,087,931
2,688,849
252,508
1,022,116
343,082
6,394,486

Page 7

 
GOODERHAM FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
1,060,900
1,030,000

1,060,900
1,030,000


2023
2022
£
£

Due within one year

Trade debtors
934,586
1,112,654

Other debtors
10,599,388
8,181,888

Prepayments and accrued income
132,213
93,095

11,666,187
9,387,637



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
444,424
512,624

Other taxation and social security
374,881
72,592

Obligations under finance lease and hire purchase contracts
216,435
139,374

Other creditors
800,000
-

Accruals and deferred income
9,324
8,029

1,845,064
732,619


The obligations under finance leases and hire purchase contracts are secured on the assets financed.


7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
119,101
97,333

119,101
97,333


The obligations under finance leases and hire purchase contracts are secured on the assets financed.

Page 8

 
GOODERHAM FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Related party transactions

A personal guarantee of £ 1,100,000 (2022 - £ 1,500,000) has been provided by the partnership in which the company is a participator, in respect of bank loans taken out by a company in which one of the company director's is a director and shareholder.
 

 
Page 9