Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2022-04-0112truetrue 00932518 2022-04-01 2023-03-31 00932518 2021-04-01 2022-03-31 00932518 2023-03-31 00932518 2022-03-31 00932518 2021-04-01 00932518 c:Director1 2022-04-01 2023-03-31 00932518 d:Buildings 2022-04-01 2023-03-31 00932518 d:Buildings 2023-03-31 00932518 d:Buildings 2022-03-31 00932518 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00932518 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 00932518 d:PlantMachinery 2022-04-01 2023-03-31 00932518 d:OtherPropertyPlantEquipment 2023-03-31 00932518 d:OtherPropertyPlantEquipment 2022-03-31 00932518 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00932518 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00932518 d:CurrentFinancialInstruments 2023-03-31 00932518 d:CurrentFinancialInstruments 2022-03-31 00932518 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00932518 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 00932518 d:ShareCapital 2023-03-31 00932518 d:ShareCapital 2022-03-31 00932518 d:RetainedEarningsAccumulatedLosses 2023-03-31 00932518 d:RetainedEarningsAccumulatedLosses 2022-03-31 00932518 c:OrdinaryShareClass1 2022-04-01 2023-03-31 00932518 c:OrdinaryShareClass1 2023-03-31 00932518 c:OrdinaryShareClass1 2022-03-31 00932518 c:FRS102 2022-04-01 2023-03-31 00932518 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 00932518 c:FullAccounts 2022-04-01 2023-03-31 00932518 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 00932518 d:EntityControlledByKeyManagementPersonnel1 2022-04-01 2023-03-31 00932518 d:EntityControlledByKeyManagementPersonnel1 2023-03-31 00932518 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-04-01 2023-03-31 00932518 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 00932518 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 00932518









EAST FEN FARMS LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
EAST FEN FARMS LIMITED
REGISTERED NUMBER: 00932518

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,525,990
1,635,527

Current assets
  

Stocks
  
162,211
134,608

Debtors: amounts falling due within one year
 5 
706,583
449,123

Cash at bank
  
680,339
584,590

Current liabilities
  
1,549,133
1,168,321

Creditors: amounts falling due within one year
 6 
(280,444)
(90,175)

Net current assets
  
 
 
1,268,689
 
 
1,078,146

Total assets less current liabilities
  
2,794,679
2,713,673

Provisions for liabilities
  

Deferred tax
 7 
(82,043)
(76,599)

Net assets
  
2,712,636
2,637,074


Capital and reserves
  

Called up share capital 
 8 
30
30

Profit and loss account
  
2,712,606
2,637,044

  
2,712,636
2,637,074


Page 1

 
EAST FEN FARMS LIMITED
REGISTERED NUMBER: 00932518

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers 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 director acknowledges her 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 by: 






Mrs W M Day
Director

Date: 29 January 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
EAST FEN FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


GENERAL INFORMATION

East Fen Farms Limited is a private Company limited by shares, incorporated in England and Wales within the United Kingdom. The address of the registered office is 2 The Birches, Soham, Ely, Cambridgeshire, CB7 5FH. The Company is not part of a group.

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 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

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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
EAST FEN FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

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.

 
2.4

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 corporation 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.

Page 4

 
EAST FEN FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
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.

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, as stated below.

Depreciation is provided on the following basis:

Buildings
-
4% straight line
Improvements to buildings
-
4% straight line
Plant and machinery
-
15% to 33% 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.

 
2.6

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. The deemed cost of harvested crops is based on 75% of its expected sales value in accordance with BEN 19.

 
2.7

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.

 
2.8

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.

 
2.9

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.

Page 5

 
EAST FEN FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.10

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 1 (2022 - 2).

Page 6

 
EAST FEN FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


TANGIBLE FIXED ASSETS





Land and buildings
Other fixed assets
Total

£
£
£



Cost


At 1 April 2022
1,759,167
1,133,550
2,892,717



At 31 March 2023

1,759,167
1,133,550
2,892,717



Depreciation


At 1 April 2022
526,792
730,398
1,257,190


Charge for the year on owned assets
34,554
74,983
109,537



At 31 March 2023

561,346
805,381
1,366,727



Net book value



At 31 March 2023
1,197,821
328,169
1,525,990



At 31 March 2022
1,232,375
403,152
1,635,527

Page 7

 
EAST FEN FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


DEBTORS

2023
2022
£
£


Trade debtors
76,546
113,743

Other debtors
611,043
320,544

Prepayments
18,994
14,836

706,583
449,123



6.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Trade creditors
28,494
34,432

Other taxation and social security
46,350
50,383

Other creditors
200,000
-

Accruals
5,600
5,360

280,444
90,175



7.


DEFERRED TAXATION




2023
2022


£

£






At beginning of year
(76,599)
(84,446)


Charged to profit or loss
(5,444)
7,847



At end of year
(82,043)
(76,599)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(82,043)
(76,599)

Page 8

 
EAST FEN FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


SHARE CAPITAL

2023
2022
£
£
Allotted, called up and fully paid



30 (2022 - 30) Ordinary shares of £1.00 each
30
30



9.


PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £159 (2022 - £1,536). No contributions (2022 - £Nil) were payable to the fund at the balance sheet date.


10.


RELATED PARTY TRANSACTIONS

During the year the Company operated a loan with the director of the Company. The amount due to the director at the year end was £200,000 (2022 - £Nil). This loan is interest free and repayable on demand.
During the year the Company occupied land and premises owned by the director and her associates at no cost to the Company. The annual rent payable for the land on a normal commercial basis would be in the region of £135,000 (2022 -  £135,000).
During the year the Company operated a loan with Day Developments Limited, a company under common ownership. The amount due from this Company at the year end was £600,000 (2022 - £300,000). This loan is interest free and repayable on demand.

Page 9