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REGISTERED NUMBER: 12172487 (England and Wales)















A.N.KERR FARMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023






A.N.KERR FARMS LIMITED (REGISTERED NUMBER: 12172487)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 8

Accountants' Report 9

A.N.KERR FARMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: Mrs M Kerr
B G Treadgold
Mrs E L Treadgold
A W Treadgold
B K Treadgold





REGISTERED OFFICE: 18 Northgate
Sleaford
Lincolnshire
NG34 7BJ





BUSINESS ADDRESS: Poolthorne Farm
Cadney
Brigg
North Lincolnshire
DN20 9HU





REGISTERED NUMBER: 12172487 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ

A.N.KERR FARMS LIMITED (REGISTERED NUMBER: 12172487)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 91,875 91,875
Tangible assets 5 361,552 295,340
Investments 6 1,303 1,303
454,730 388,518

CURRENT ASSETS
Valuation 155,810 217,699
Debtors 7 100,169 154,864
Cash at bank 7,072 -
263,051 372,563
CREDITORS
Amounts falling due within one year 8 210,721 274,704
NET CURRENT ASSETS 52,330 97,859
TOTAL ASSETS LESS CURRENT LIABILITIES 507,060 486,377

CREDITORS
Amounts falling due after more than one year 9 (219,792 ) (191,523 )

PROVISIONS FOR LIABILITIES (89,684 ) (49,695 )
NET ASSETS 197,584 245,159

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 197,484 245,059
197,584 245,159

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

A.N.KERR FARMS LIMITED (REGISTERED NUMBER: 12172487)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:





B G Treadgold - Director


A.N.KERR FARMS LIMITED (REGISTERED NUMBER: 12172487)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

A.N.Kerr Farms 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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
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 have been fully amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 10% on reducing balance and 4% on cost
Plant and machinery etc - 33% on reducing balance, 20% on reducing balance, 15% on reducing balance and not provided

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Valuation
A professional valuation is carried out each year by an independent agricultural valuer. The valuation is prepared in accordance with FRS102 and is valued at the lower of cost and fair value less costs to complete and sell after making due allowance for slow moving items. Costs include any cost of production incurred to bring the stock to its state at the balance sheet date.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


A.N.KERR FARMS LIMITED (REGISTERED NUMBER: 12172487)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Government grants
Government grants are recognised in the income statement when all performance criteria attached to the grant have been fulfilled.

Furlough scheme
Grants are received as income in the period in which they become receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

A.N.KERR FARMS LIMITED (REGISTERED NUMBER: 12172487)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2022
and 30 September 2023 96,709
AMORTISATION
At 1 October 2022
and 30 September 2023 4,834
NET BOOK VALUE
At 30 September 2023 91,875
At 30 September 2022 91,875

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2022 2,237 369,152 371,389
Additions - 153,915 153,915
Disposals - (36,750 ) (36,750 )
At 30 September 2023 2,237 486,317 488,554
DEPRECIATION
At 1 October 2022 2,219 73,830 76,049
Charge for year 1 65,162 65,163
Eliminated on disposal - (14,210 ) (14,210 )
At 30 September 2023 2,220 124,782 127,002
NET BOOK VALUE
At 30 September 2023 17 361,535 361,552
At 30 September 2022 18 295,322 295,340

The net book value of tangible fixed assets includes £ 138,989 (2022 - £ 107,061 ) in respect of assets held under hire purchase contracts.

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2022
and 30 September 2023 1,303
NET BOOK VALUE
At 30 September 2023 1,303
At 30 September 2022 1,303

A.N.KERR FARMS LIMITED (REGISTERED NUMBER: 12172487)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 65,302 106,162
Other debtors 34,867 48,702
100,169 154,864

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,750 23,742
Hire purchase contracts 30,513 25,739
Trade creditors 85,031 104,455
Taxation and social security 445 25,682
Other creditors 86,982 95,086
210,721 274,704

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 121,264 129,317
Hire purchase contracts 94,528 52,206
Other creditors 4,000 10,000
219,792 191,523

Amounts falling due in more than five years:

Repayable by instalments
Shed 5 loan 89,114 99,767

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 16,492
Bank loans 129,014 136,567
Hire purchase contracts 125,041 77,945
254,055 231,004

The hire purchase liabilities are secured on the assets to which they relate.

The bank overdraft is secured on a company debenture and guarantees by the directors.

The bank loan is guaranteed by the directors, supported by freehold first legal charges over land at Snitterby.

A.N.KERR FARMS LIMITED (REGISTERED NUMBER: 12172487)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

11. CALLED UP SHARE CAPITAL

Allotted issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £

30 A Ordinary £1 30 30
50 B Ordinary £1 50 50
10 C Ordinary £1 10 10
10 D Ordinary £1 10 10

100 100

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2023 and 30 September 2022:

2023 2022
£    £   
A W Treadgold
Balance outstanding at start of year 18,338 5,381
Amounts advanced 46,679 27,457
Amounts repaid (50,900 ) (14,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,117 18,338

B G Treadgold
Balance outstanding at start of year 20,330 (11,706 )
Amounts advanced 6,455 33,501
Amounts repaid (21,811 ) (1,465 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,974 20,330

At the year end date the company owed the directors £69,146 (2022: £78,833). The loans are unsecured, interest free and repayable on demand.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
A.N.KERR FARMS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A.N.Kerr Farms Limited for the year ended 30 September 2023 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of A.N.Kerr Farms Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of A.N.Kerr Farms Limited and state those matters that we have agreed to state to the Board of Directors of A.N.Kerr Farms Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that A.N.Kerr 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 A.N.Kerr Farms Limited. You consider that A.N.Kerr Farms Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of A.N.Kerr 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.






Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ


Date: .............................................