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REGISTERED NUMBER: 12553982 (England and Wales)










BHI Farming Limited

Financial Statements

for the Year Ended 30th September 2023






BHI Farming Limited (Registered number: 12553982)






Contents of the Financial Statements
for the Year Ended 30th September 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


BHI Farming Limited

Company Information
for the Year Ended 30th September 2023







DIRECTORS: B J Backhouse
J F Hart
J A Iles



SECRETARY: B J Backhouse



REGISTERED OFFICE: Glebe Farm
Hatherop
Cirencester
Gloucestershire
GL7 3NA



REGISTERED NUMBER: 12553982 (England and Wales)



ACCOUNTANTS: Woodward Hale
Chartered Accountants
38 Dollar Street
Cirencester
Gloucestershire
GL7 2AN



BANKERS: Lloyds Bank Plc
14 Castle Street
Cirencester
Gloucestershire
GL7 1QJ

BHI Farming Limited (Registered number: 12553982)

Balance Sheet
30th September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,141,975 988,484

CURRENT ASSETS
Stocks 5 38,940 58,225
Debtors 6 536,516 329,712
Investments 7 15 15
Cash at bank 26,721 96,289
602,192 484,241
CREDITORS
Amounts falling due within one year 8 690,118 604,647
NET CURRENT LIABILITIES (87,926 ) (120,406 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,054,049

868,078

CREDITORS
Amounts falling due after more than one
year

9

(840,409

)

(999,311

)

PROVISIONS FOR LIABILITIES (44,461 ) -
NET ASSETS/(LIABILITIES) 169,179 (131,233 )

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 168,879 (131,533 )
SHAREHOLDERS' FUNDS 169,179 (131,233 )

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

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

BHI Farming Limited (Registered number: 12553982)

Balance Sheet - continued
30th 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5th April 2024 and were signed on its behalf by:




J F Hart - Director J A Iles - Director




B J Backhouse - Director


BHI Farming Limited (Registered number: 12553982)

Notes to the Financial Statements
for the Year Ended 30th September 2023

1. STATUTORY INFORMATION

BHI Farming 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and equipment - at variable rates on reducing balance
Tractors and machinery - at variable rates on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

BHI Farming Limited (Registered number: 12553982)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Tractors
Plant and and Motor
equipment machinery vehicles Totals
£    £    £    £   
COST
At 1st October 2022 311,439 935,449 13,000 1,259,888
Additions 40,835 275,554 - 316,389
Disposals (8,500 ) (99,000 ) - (107,500 )
At 30th September 2023 343,774 1,112,003 13,000 1,468,777
DEPRECIATION
At 1st October 2022 63,290 204,064 4,050 271,404
Charge for year 27,870 46,332 1,343 75,545
Eliminated on disposal (1,337 ) (18,810 ) - (20,147 )
At 30th September 2023 89,823 231,586 5,393 326,802
NET BOOK VALUE
At 30th September 2023 253,951 880,417 7,607 1,141,975
At 30th September 2022 248,149 731,385 8,950 988,484

BHI Farming Limited (Registered number: 12553982)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Tractors
Plant and and
equipment machinery Totals
£    £    £   
COST
At 1st October 2022 60,000 767,949 827,949
Additions - 275,554 275,554
Transfer to ownership - (190,000 ) (190,000 )
At 30th September 2023 60,000 853,503 913,503
DEPRECIATION
At 1st October 2022 11,550 171,672 183,222
Charge for year 7,268 22,360 29,628
Transfer to ownership - (59,185 ) (59,185 )
At 30th September 2023 18,818 134,847 153,665
NET BOOK VALUE
At 30th September 2023 41,182 718,656 759,838
At 30th September 2022 48,450 596,277 644,727

5. STOCKS
2023 2022
£    £   
Stocks 4,551 9,500
Work-in-progress 34,389 48,725
38,940 58,225

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 532,086 320,918
Accrued income 1,543 4,132
Prepayments 2,887 4,662
536,516 329,712

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Other 15 15

BHI Farming Limited (Registered number: 12553982)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 215,286 156,744
Trade creditors 464,883 363,680
Social security and other taxes 6,449 33,444
Accrued expenses 3,500 50,779
690,118 604,647

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Hire purchase contracts 194,197 278,099
H & Q Farming Limited loan - 480,808
South Farm Products Limited loan 215,404 240,404
H. F. Hart Limited loan 215,404 -
Park Farm Syndicate (Fairford) Limited
loan

215,404

-
840,409 999,311

10. RELATED PARTY DISCLOSURES

South Farm Products limited

A shareholder of the company


The company charged South Farm Products Limited £116,305 (£71,229 - 2022) for contract work during the period.

H.F Hart Limited

A shareholder of the company


The company charged H. F. Hart Limited £147,058 (£99,524 - 2022) for contract work during the period.

Park Farm Syndicate(Fairford) Limited

A shareholder of the company


The company charged Park Farm Syndicate (Fairford) Limited £138,125 (£89,119 - 2022) for contract work during the period.