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REGISTERED NUMBER: 00497414 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

J.T. Hollis (Farms) Limited

J.T. Hollis (Farms) Limited (Registered number: 00497414)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


J.T. Hollis (Farms) Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: J R Hollis
J C Hollis
Mrs B Hollis





SECRETARY: Mrs B Hollis





REGISTERED OFFICE: The Paddock
Swans Lane
Brant Broughton
Lincoln
Lincolnshire
LN5 0SE





REGISTERED NUMBER: 00497414 (England and Wales)





ACCOUNTANTS: Gopsall Services Limited
4 HRFC Business Centre
Leicester Road
Hinckley
Leicestershire
LE10 3DR

J.T. Hollis (Farms) Limited (Registered number: 00497414)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,320,435 2,346,527

CURRENT ASSETS
Stocks 512,444 444,656
Debtors 5 87,033 80,044
Cash at bank 694,544 317,841
1,294,021 842,541
CREDITORS
Amounts falling due within one year 6 414,378 318,925
NET CURRENT ASSETS 879,643 523,616
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,200,078

2,870,143

PROVISIONS FOR LIABILITIES 83,616 88,821
NET ASSETS 3,116,462 2,781,322

CAPITAL AND RESERVES
Called up share capital 26,900 26,900
Capital redemption reserve 20,100 20,100
Other reserves 1,456 1,456
Retained earnings 3,068,006 2,732,866
3,116,462 2,781,322

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

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

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 March 2024 and were signed on its behalf by:





J R Hollis - Director


J.T. Hollis (Farms) Limited (Registered number: 00497414)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

J.T. Hollis (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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Short leasehold and greenhouse - in accordance with the property and Straight line over 10 years
Entitlements - not provided
Improvements to land and property - not provided
Drying store fitting - 10% on reducing balance
Implements - 10% on reducing balance
Tractors and motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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.

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
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.

J.T. Hollis (Farms) Limited (Registered number: 00497414)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Short Improvements
leasehold to land
Freehold and and
property greenhouse Entitlements property
£    £    £    £   
COST
At 1 July 2022 2,070,079 36,999 13,588 12,419
Additions - - - -
At 30 June 2023 2,070,079 36,999 13,588 12,419
DEPRECIATION
At 1 July 2022 140,477 21,418 - -
Charge for year - 4,067 - -
At 30 June 2023 140,477 25,485 - -
NET BOOK VALUE
At 30 June 2023 1,929,602 11,514 13,588 12,419
At 30 June 2022 1,929,602 15,581 13,588 12,419

Drying Tractors
store and motor Computer
fitting Implements vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 203,103 658,944 381,038 2,777 3,378,947
Additions - 23,074 - - 23,074
At 30 June 2023 203,103 682,018 381,038 2,777 3,402,021
DEPRECIATION
At 1 July 2022 118,586 403,179 345,990 2,770 1,032,420
Charge for year 8,451 27,884 8,762 2 49,166
At 30 June 2023 127,037 431,063 354,752 2,772 1,081,586
NET BOOK VALUE
At 30 June 2023 76,066 250,955 26,286 5 2,320,435
At 30 June 2022 84,517 255,765 35,048 7 2,346,527

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 42,282 32,162
Other debtors 44,751 47,882
87,033 80,044

J.T. Hollis (Farms) Limited (Registered number: 00497414)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 74,217 18,749
Taxation and social security 100,506 96,712
Other creditors 239,655 203,464
414,378 318,925

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.23 30.6.22
£    £   
Within one year 107,997 107,997
Between one and five years 134,996 242,993
242,993 350,990

8. SECURED DEBTS

Barclays Bank PLC holds a charge over the freehold property known as or being 136.59 acres or thereabouts of land at West Hall Farm, Carlton-le-Moorland, Lincolnshire.

9. PENSION COMMITMENTS

There were pension commitments outstanding at the balance sheet date of £132 (2022 - £84).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

30.6.23 30.6.22
£    £   
J C Hollis
Balance outstanding at start of year 4,700 54,845
Amounts advanced 19,717 12,792
Amounts repaid (24,500 ) (62,937 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (83 ) 4,700

11. RELATED PARTY DISCLOSURES

The company rented land from J R Hollis during the year at a rate of £24,583.

Included in other creditors is £83 (2022 other debtors - £4,700) owed to J C Hollis, a director of the company.
Included in other creditors is £122,021 (2022 - £122,963) owed to J R Hollis, a director of the company.