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REGISTERED NUMBER: 01867591 (England and Wales)















BARTON & CO. (FARMERS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






BARTON & CO. (FARMERS) LIMITED (REGISTERED NUMBER: 01867591)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


BARTON & CO. (FARMERS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: W E Barton
G W Barton
H C Barton





REGISTERED OFFICE: Hall Farm
Saundby
Retford
Nottinghamshire
DN22 9ER





REGISTERED NUMBER: 01867591 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 London Road
Newark
Nottinghamshire
NG24 1TW

BARTON & CO. (FARMERS) LIMITED (REGISTERED NUMBER: 01867591)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 8,523,320 6,129,122
Investment property 6 600,000 600,000
9,123,320 6,729,122

CURRENT ASSETS
Inventories 990,886 941,734
Debtors 7 343,575 301,690
1,334,461 1,243,424
CREDITORS
Amounts falling due within one year 8 1,013,069 940,327
NET CURRENT ASSETS 321,392 303,097
TOTAL ASSETS LESS CURRENT LIABILITIES 9,444,712 7,032,219

CREDITORS
Amounts falling due after more than one year 9 (1,406,085 ) (1,527,329 )

PROVISIONS FOR LIABILITIES (1,378,467 ) (792,822 )
NET ASSETS 6,660,160 4,712,068

CAPITAL AND RESERVES
Called up share capital 11 40,000 40,000
Revaluation reserve 3,748,453 1,914,803
Retained earnings 2,871,707 2,757,265
SHAREHOLDERS' FUNDS 6,660,160 4,712,068

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

BARTON & CO. (FARMERS) LIMITED (REGISTERED NUMBER: 01867591)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2024 and were signed on its behalf by:





G W Barton - Director


BARTON & CO. (FARMERS) LIMITED (REGISTERED NUMBER: 01867591)

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

1. STATUTORY INFORMATION

Barton & Co. (Farmers) 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. 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 as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue
Revenue represents net invoiced sales of produce and services, excluding value added tax.

Revenue comprises sales of farming. Revenue is recognised when the significant risks and rewards have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and that the costs incurred, or to be incurred, in respect of the transaction can be measured reliably.

Intangible assets
Intangible assets consist of entitlements to the basic payment allowance. The entitlements are recognised at fair value and written off on a straight line basis.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off 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 - 4% on cost and not provided
Plant and machinery etc - 25% on reducing balance, 20% on cost, 20% on reducing balance, 15% on reducing balance, 10% on cost and 10% on reducing balance

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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Inventories
Inventories represent the farm valuation which is valued at the lower of cost and net realisable value. The deemed cost basis is used to determine the value for the production of growing crops.

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 statement of financial position date.


BARTON & CO. (FARMERS) LIMITED (REGISTERED NUMBER: 01867591)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued
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 both an approved and an unapproved pension scheme. The scheme funds are administered by trustees and are separate from the Company. Contributions payable for the year are charged to the profit and loss account.

Basic farm payment
The Basic farm payment is recognised in the financial statements in accordance with current H.M. Revenue & Customs guidance.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2022
and 31 October 2023 94,769
AMORTISATION
At 1 November 2022
and 31 October 2023 94,769
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -


BARTON & CO. (FARMERS) LIMITED (REGISTERED NUMBER: 01867591)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 November 2022 5,275,434 1,696,180 6,971,614
Additions - 123,100 123,100
Disposals - (76,185 ) (76,185 )
Revaluations 2,426,181 - 2,426,181
At 31 October 2023 7,701,615 1,743,095 9,444,710
DEPRECIATION
At 1 November 2022 70,358 772,134 842,492
Charge for year 4,597 137,006 141,603
Eliminated on disposal - (62,705 ) (62,705 )
At 31 October 2023 74,955 846,435 921,390
NET BOOK VALUE
At 31 October 2023 7,626,660 896,660 8,523,320
At 31 October 2022 5,205,076 924,046 6,129,122

Cost or valuation at 31 October 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2020 2,046,058 - 2,046,058
Valuation in 2023 2,426,181 - 2,426,181
Cost 3,229,376 1,743,095 4,972,471
7,701,615 1,743,095 9,444,710

The net book value of property, plant and equipment includes £ 399,256 (2022 - £ 326,873 ) in respect of assets held under hire purchase contracts.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 600,000
NET BOOK VALUE
At 31 October 2023 600,000
At 31 October 2022 600,000

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2022 310,000
Cost 290,000
600,000

BARTON & CO. (FARMERS) LIMITED (REGISTERED NUMBER: 01867591)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 57,643 7,777
Other debtors 285,932 293,913
343,575 301,690

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 627,827 412,101
Hire purchase contracts 117,931 93,731
Trade creditors 108,579 202,155
Taxation and social security 37,681 85,555
Other creditors 121,051 146,785
1,013,069 940,327

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 1,235,438 1,287,148
Hire purchase contracts 170,647 240,181
1,406,085 1,527,329

Amounts falling due in more than five years:

Repayable by instalments
Banks loans due over 5 years 1,005,493 1,043,211

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 570,916 336,454
Bank loans 1,292,349 1,362,795
Hire purchase contracts 288,578 333,912
2,151,843 2,033,161

The bank overdraft and loans are secured by a charge over the company's assets.
The hire purchase agreements are secured against the assets to which they relate.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
40,000 Ordinary £1 40,000 40,000