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REGISTERED NUMBER: 06720293 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

R T & C V PERRETT LIMITED

R T & C V PERRETT LIMITED (REGISTERED NUMBER: 06720293)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


R T & C V PERRETT LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTORS: R T Perrett
Mrs C V Perrett
Mrs A M Baker





REGISTERED OFFICE: Manchester House
High Street
Stalbridge
Dorset
DT10 2LL





REGISTERED NUMBER: 06720293 (England and Wales)





ACCOUNTANTS: Evans & Co
Manchester House
High Street
Stalbridge
Sturminster Newton
Dorset
DT10 2LL

R T & C V PERRETT LIMITED (REGISTERED NUMBER: 06720293)

ABRIDGED BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - 4,772
Tangible assets 6 811,909 776,788
Investments 7 62,968 62,830
Herd basis 8 179,528 187,362
1,054,405 1,031,752

CURRENT ASSETS
Stocks 122,407 95,968
Debtors 43,820 41,003
166,227 136,971
CREDITORS
Amounts falling due within one year 522,127 597,196
NET CURRENT LIABILITIES (355,900 ) (460,225 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

698,505

571,527

CREDITORS
Amounts falling due after more than one
year

(544,667

)

(514,687

)

PROVISIONS FOR LIABILITIES (63,594 ) (47,231 )
NET ASSETS 90,244 9,609

CAPITAL AND RESERVES
Called up share capital 140 140
Retained earnings 90,104 9,469
SHAREHOLDERS' FUNDS 90,244 9,609

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.

R T & C V PERRETT LIMITED (REGISTERED NUMBER: 06720293)

ABRIDGED BALANCE SHEET - 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 10 October 2023 and were signed on its behalf by:




R T Perrett - Director



Mrs C V Perrett - Director


R T & C V PERRETT LIMITED (REGISTERED NUMBER: 06720293)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

R T & C V Perrett 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

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

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

Intangible assets
Basic payment scheme (BPS) entitlements are initially recognised at cost. Cost for originally granted BPS entitlements is the fair value on transition to FRS 102 and has been recognised through a debit to intangible assets and a credit to deferred income. Both purchased and granted entitlements are subsequently measured at cost less accumulated amortisation and impairment losses. For granted BPS, deferred income is released to the profit and loss at the same rate at which the intangible asset is amortised.
The amortisation method and rate is as follows:
8 years straight line.

Intangible assets
Other intangible assets represent an investment in AMCo Common Consolidation which is a contractual requirement in order to benefit from the AMCo milk purchasing agreement.This investment is non refundable and is therefore being amortised over it's useful life to the business. As there is no fixed period for the contract the directors have considered it appropriate to adopt an amortisation period of 5 years for the asset on a straight line basis. In addition an annual impairment review is performed.

Biological assets
Biological assets held for continuing use within the business are classified as fixed assets. Such assets are measured at cost less accumulated depreciation and impairment.
Assets within the classification comprise a dairy herd.
Depreciation is charged to write off the cost of assets less estimated selling price over their estimated useful economic life.
The depreciation rate used for the dairy herd is 25% straight line.

Stocks
Stocks are valued at the lower of cost and net realisable value, 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 balance sheet date.


R T & C V PERRETT LIMITED (REGISTERED NUMBER: 06720293)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

3. ACCOUNTING POLICIES - continued
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 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022
and 31 March 2023 91,500
AMORTISATION
At 1 April 2022 86,728
Amortisation for year 4,772
At 31 March 2023 91,500
NET BOOK VALUE

At 31 March 2023 -
At 31 March 2022 4,772

R T & C V PERRETT LIMITED (REGISTERED NUMBER: 06720293)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 1,187,724
Additions 95,075
Disposals (129,889 )
At 31 March 2023 1,152,910
DEPRECIATION
At 1 April 2022 410,936
Charge for year 49,861
Eliminated on disposal (119,796 )
At 31 March 2023 341,001
NET BOOK VALUE
At 31 March 2023 811,909
At 31 March 2022 776,788

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2022 95,700
Additions 132,000
At 31 March 2023 227,700
DEPRECIATION
At 1 April 2022 31,208
Charge for year 39,674
At 31 March 2023 70,882
NET BOOK VALUE
At 31 March 2023 156,818
At 31 March 2022 64,492

R T & C V PERRETT LIMITED (REGISTERED NUMBER: 06720293)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

7. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 April 2022 62,830
Additions 138
At 31 March 2023 62,968
NET BOOK VALUE
At 31 March 2023 62,968
At 31 March 2022 62,830

Fixed asset investments represent an investment in AMCo Individual Consolidation which is a contractual requirement in order to benefit from the AMCo milk purchasing agreement. This investment is refundable and is stated at historical cost less provision for any dimution in value.

8. HERD BASIS
Dairy
herd
basis
£   
COST
At 1 April 2022 261,219
Additions 53,200
Disposals (65,800 )
At 31 March 2023 248,619
DEPRECIATION
At 1 April 2022 73,857
Charge for year 22,814
Eliminated on disposal (27,580 )
At 31 March 2023 69,091
NET BOOK VALUE
At 31 March 2023 179,528
At 31 March 2022 187,362

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 36,637 8,835
Between one and five years 39,667 9,687
76,304 18,522