Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-3166096No description of principal activity62022-04-01false5truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00519470 2022-04-01 2023-03-31 00519470 2021-04-01 2022-03-31 00519470 2023-03-31 00519470 2022-03-31 00519470 c:Director2 2022-04-01 2023-03-31 00519470 d:Buildings 2022-04-01 2023-03-31 00519470 d:Buildings 2023-03-31 00519470 d:Buildings 2022-03-31 00519470 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00519470 d:Buildings d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 00519470 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 00519470 d:Buildings d:LongLeaseholdAssets 2023-03-31 00519470 d:Buildings d:LongLeaseholdAssets 2022-03-31 00519470 d:PlantMachinery 2022-04-01 2023-03-31 00519470 d:PlantMachinery 2023-03-31 00519470 d:PlantMachinery 2022-03-31 00519470 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00519470 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 00519470 d:MotorVehicles 2022-04-01 2023-03-31 00519470 d:MotorVehicles 2023-03-31 00519470 d:MotorVehicles 2022-03-31 00519470 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00519470 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 00519470 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00519470 d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 00519470 d:Goodwill 2023-03-31 00519470 d:Goodwill 2022-03-31 00519470 d:CurrentFinancialInstruments 2023-03-31 00519470 d:CurrentFinancialInstruments 2022-03-31 00519470 d:Non-currentFinancialInstruments 2023-03-31 00519470 d:Non-currentFinancialInstruments 2022-03-31 00519470 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00519470 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 00519470 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 00519470 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 00519470 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 00519470 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 00519470 d:ShareCapital 2023-03-31 00519470 d:ShareCapital 2022-03-31 00519470 d:CapitalRedemptionReserve 2023-03-31 00519470 d:CapitalRedemptionReserve 2022-03-31 00519470 d:RetainedEarningsAccumulatedLosses 2023-03-31 00519470 d:RetainedEarningsAccumulatedLosses 2022-03-31 00519470 c:OrdinaryShareClass1 2022-04-01 2023-03-31 00519470 c:OrdinaryShareClass1 2023-03-31 00519470 c:OrdinaryShareClass1 2022-03-31 00519470 c:FRS102 2022-04-01 2023-03-31 00519470 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 00519470 c:FullAccounts 2022-04-01 2023-03-31 00519470 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 00519470 d:WithinOneYear 2023-03-31 00519470 d:WithinOneYear 2022-03-31 00519470 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 00519470 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 00519470 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 00519470 d:TaxLossesCarry-forwardsDeferredTax 2022-03-31 00519470 2 2022-04-01 2023-03-31 00519470 6 2022-04-01 2023-03-31 00519470 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-03-31 00519470 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-03-31 00519470 d:LeasedAssetsHeldAsLessee 2023-03-31 00519470 d:LeasedAssetsHeldAsLessee 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00519470










HARTLEY MAIN FARMS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
HARTLEY MAIN FARMS LIMITED
REGISTERED NUMBER: 00519470

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
4,730,089
4,578,630

Investments
 6 
208,477
215,242

  
4,938,566
4,793,872

Current assets
  

Stocks
 7 
636,826
516,974

Debtors: amounts falling due within one year
 8 
353,738
154,764

Bank and cash balances
  
309,793
121,263

  
1,300,357
793,001

Creditors: amounts falling due within one year
 9 
(609,013)
(459,674)

Net current assets
  
 
 
691,344
 
 
333,327

Total assets less current liabilities
  
5,629,910
5,127,199

Creditors: amounts falling due after more than one year
 10 
(99,364)
(155,857)

Provisions for liabilities
  

Deferred tax
 12 
(65,070)
-

  
 
 
(65,070)
 
 
-

Net assets
  
5,465,476
4,971,342


Capital and reserves
  

Called up share capital 
 13 
23,700
23,700

Capital redemption reserve
  
266,923
266,923

Profit and loss account
  
5,174,853
4,680,719

  
5,465,476
4,971,342


Page 1

 
HARTLEY MAIN FARMS LIMITED
REGISTERED NUMBER: 00519470
    
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 statement of income and retained earnings 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 13 November 2023.




Mr M F A Capstick
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

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

1.


General information

The company is a private limited company, which is incorporated and registered in England and Wales (company number 00519470). The address of its registered office is North Moor Farm, Seaton Delaval, Whitley Bay, Tyne and Wear, NE25 0QQ. 

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 financial statements are prepared in sterling, which is the functional currency of the company.
Monetary amounts in these financial statements are rounded to the nearest £.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has cash resources and has no requirement for external funding. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. They continue to believe the going concern basis of accounting appropriate in preparing the annual financial statements. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.4

Intangible assets

Entitlements are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

 
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 3

 
HARTLEY MAIN FARMS 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, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
Property improvements
-
10% straight line
Plant and machinery
-
10%, 12.5% & 20% straight line or 20% reducing balance
Motor vehicles
-
20% 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 listed company shares are remeasured to market value at each year end. Gains and losses on remeasurement are recognised in profit or loss for the period.

Investments in unlisted company shares held as fixed assets are shown at cost less provision for impairment.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Biological assets, living plants and animals are included at the lower of cost and estimated selling price less costs to sell.

 
2.8

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

 
2.9

Finance costs

Finance costs are charged to the Statement of income and retained earnings 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.

Page 4

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

2.Accounting policies (continued)

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.11

Interest income

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

 
2.12

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.13

Current and deferred taxation

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

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 balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 6).

Page 5

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

4.


Intangible assets




Entitlements

£



Cost


At 1 April 2022
9,000



At 31 March 2023

9,000



Amortisation


At 1 April 2022
9,000



At 31 March 2023

9,000



Net book value



At 31 March 2023
-



At 31 March 2022
-



Page 6

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

5.


Tangible fixed assets





Freehold property
Property improve-ments
Plant and machinery
Motor vehicles
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
2,931,595
1,158,325
2,809,671
56,880
6,956,471


Additions
-
6,453
651,050
-
657,503


Disposals
-
(35,861)
(663,255)
(4,895)
(704,011)



At 31 March 2023

2,931,595
1,128,917
2,797,466
51,985
6,909,963



Depreciation


At 1 April 2022
90,384
550,980
1,716,347
20,130
2,377,841


Charge for the year on owned assets
1,483
66,096
130,556
7,350
205,485


Charge for the year on financed assets
-
-
127,461
-
127,461


Disposals
-
(32,789)
(493,229)
(4,895)
(530,913)



At 31 March 2023

91,867
584,287
1,481,135
22,585
2,179,874



Net book value



At 31 March 2023
2,839,728
544,630
1,316,331
29,400
4,730,089



At 31 March 2022
2,841,211
607,345
1,093,324
36,750
4,578,630

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
750,623
544,703

750,623
544,703

Page 7

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

6.


Fixed asset investments





Listed investments
Unlisted investments
Other fixed asset investments
Total

£
£
£
£



Cost or valuation


At 1 April 2022
8,236
8,582
198,424
215,242


Additions
-
-
250,647
250,647


Disposals
-
-
(238,115)
(238,115)


Revaluations
(1,091)
-
(18,207)
(19,298)



At 31 March 2023
7,145
8,582
192,749
208,476





7.


Stocks

2023
2022
£
£

Livestock
28,160
31,540

Growing crops
344,522
275,019

Crops in stock
14,397
14,925

Other stocks
249,747
195,490

636,826
516,974



8.


Debtors

2023
2022
£
£


Trade debtors
266,969
92,652

Other debtors
44,504
28,658

Prepayments and accrued income
42,265
7,440

Deferred taxation
-
26,014

353,738
154,764


Page 8

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

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
65,800
65,000

Trade creditors
270,513
164,301

Other taxation and social security
2,306
-

Obligations under finance lease and hire purchase contracts
148,593
145,904

Other creditors (incl directors loans)
29,589
31,375

Accruals and deferred income
92,212
53,094

609,013
459,674



10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
2,746
69,403

Net obligations under finance leases and hire purchase contracts
96,618
86,454

99,364
155,857


An overdraft facility is operated by the company and is secured by way of a fixed and floating charge over the company's net assets. 
The bank loan is secured by the way of a legal mortgage over part of the freehold land known as Hadston Farm, Morpeth together with an unlimited debenture.
Hire purchase liabilities are secured on the assets to which they relate. 

Page 9

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

11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
65,800
65,000


65,800
65,000


Amounts falling due 2-5 years

Bank loans
2,746
69,403


2,746
69,403


68,546
134,403



12.


Deferred taxation




2023


£






At beginning of year
26,014


Charged to profit or loss
(91,084)



At end of year
(65,070)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(318,341)
(196,753)

Tax losses carried forward
253,271
222,767

(65,070)
26,014

Page 10

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

13.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



23,700 (2022 - 23,700) Ordinary shares of £1.00 each
23,700
23,700



14.


Commitments under operating leases

At 31 March 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
100,483
105,961

100,483
105,961

 
Page 11