01 October 2022 30 September 2023 No principle activity is included 13518216 2022-10-01 13518216 2023-09-30 13518216 2022-10-01 2023-09-30 13518216 uk-bus:Director1 2022-10-01 2023-09-30 13518216 uk-bus:Director2 2022-10-01 2023-09-30 13518216 uk-core:LandBuildings 2023-09-30 13518216 2022-09-30 13518216 2021-07-19 2022-09-30 13518216 uk-core:LandBuildings 2022-09-30 13518216 uk-core:PlantMachinery 2023-09-30 13518216 uk-core:PlantMachinery 2022-09-30 13518216 uk-core:CurrentInventories 2023-09-30 13518216 uk-core:CurrentInventories 2022-09-30 13518216 uk-core:CurrentFinancialInstruments uk-core:ContinuingOperations 2023-09-30 13518216 uk-core:CurrentFinancialInstruments uk-core:ContinuingOperations 2022-09-30 13518216 uk-core:ContinuingOperations 2023-09-30 13518216 uk-core:ContinuingOperations 2022-09-30 13518216 uk-core:ShareCapital uk-core:ContinuingOperations 2023-09-30 13518216 uk-core:ShareCapital uk-core:ContinuingOperations 2022-09-30 13518216 uk-core:SharePremiumOrdinaryShares 2023-09-30 13518216 uk-core:RetainedEarningsAccumulatedLosses uk-core:ContinuingOperations 2023-09-30 13518216 uk-core:RetainedEarningsAccumulatedLosses uk-core:ContinuingOperations 2022-09-30 13518216 uk-core:Buildings 2022-10-01 2023-09-30 13518216 uk-core:PlantMachinery 2022-10-01 2023-09-30 13518216 uk-core:OtherVehicles 2022-10-01 2023-09-30 13518216 uk-core:CommercialMotorVehicles 2022-10-01 2023-09-30 13518216 uk-core:MotorCars 2022-10-01 2023-09-30 13518216 uk-core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2022-09-30 13518216 uk-core:Non-standardIntangibleAssetClass2ComponentIntangibleAssetsOtherThanGoodwill 2022-09-30 13518216 uk-core:Goodwill 2023-09-30 13518216 uk-core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-09-30 13518216 uk-core:Non-standardIntangibleAssetClass2ComponentIntangibleAssetsOtherThanGoodwill 2023-09-30 13518216 uk-core:CurrentFinancialInstruments 2023-09-30 13518216 uk-core:CurrentFinancialInstruments 2022-09-30 13518216 uk-bus:OrdinaryShareClass1 2022-10-01 2023-09-30 13518216 uk-bus:OrdinaryShareClass1 2021-07-19 2022-09-30 13518216 uk-bus:FRS102 2022-10-01 2023-09-30 13518216 uk-bus:FullAccounts 2022-10-01 2023-09-30 13518216 uk-bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 13518216 uk-bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure
  Company registration No. 13518216 (England and Wales)
   
   
   
   
   
   
   
   
   
   
   
   
   
  SORBUS RURAL LTD
   
  UNAUDITED FINANCIAL STATEMENTS
   
  FOR THE YEAR ENDED 30 September 2023
   
  PAGES FOR FILING WITH REGISTRAR
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
         
         
         
         
         
  SORBUS RURAL LTD
         
  COMPANY INFORMATION
         
         
  Directors Mr A B J I Boswell    
    Mrs J E V Boswell    
         
  Company number 13518216    
         
  Registered Office Quakers House    
    East End    
    North Crawley    
    Newport Pagnell    
    England    
    MK16 9HW    
         
  Accountants Ellacotts LLP    
    Chartered Accountants    
    Vantage House    
    2700 Kettering Parkway    
    Kettering Venture Park    
    Kettering    
    Northamptonshire    
    NN15 6XR    
   
  Page 3
         
         
         
         
         
  SORBUS RURAL LTD
         
  FOR THE YEAR ENDED 30 SEPTEMBER 2023
         
  CONTENTS
         
         
         
         
         
  Index   Page
         
         
  Accountants' report   1
         
         
  Balance sheet   2 - 3
         
         
  Notes to the financial statements   4 - 12
   
  Page 4
   
   
   
   
   
   
  SORBUS RURAL LTD
   
  ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SORBUS RURAL LTD FOR THE YEAR ENDED 30 SEPTEMBER 2023
   
  In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sorbus Rural Ltd for the year ended 30 September 2023 which comprise the Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information and explanations you have given us.
   
  As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://icaew.com/regulation.
   
  This report is made solely to the board of directors of Sorbus Rural Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Sorbus Rural Ltd and state those matters that we have agreed to state to the board of directors of Sorbus Rural Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at icaew.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sorbus Rural Ltd and its board of directors as a body, for our work or for this report.
   
  It is your duty to ensure that Sorbus Rural Ltd 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 or loss of Sorbus Rural Ltd. You consider that Sorbus Rural Ltd 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 Sorbus Rural Ltd. 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.
   
   
   
   
   
   
   
  Ellacotts LLP
  Chartered Accountants
   
  Vantage House
  2700 Kettering Parkway
  Kettering Venture Park
  Kettering
  Northamptonshire
  NN15 6XR
   
  01 April 2024
   
  Page 1
             
             
             
             
             
  SORBUS RURAL LTD
             
  BALANCE SHEET
  AS AT 30 September 2023
    Note 2023 2022
      £ £ £ £
  Fixed assets
  Intangible assets:
  Goodwill 4 112,000 126,000
  Other intangible assets 4 1,783,074 1,820,474
  Tangible assets:
  Property 5 51,978 43,046
  Equipment 6 93,576 83,085
      2,040,628 2,072,605
             
             
             
  Current assets
  Stock 7 428,971 447,106
  Debtors 8 195,955 363,164
  Cash at bank and in hand   131,559 64,245
      756,485 874,515
             
  Creditors: amounts falling due within one year 9 837,531 999,784
  Net current liabilities   (81,046) (125,269)
  Total assets less current liabilities   1,959,582 1,947,336
             
  Provisions for liabilities and charges   (22,699) (19,601)
  Net assets   £1,936,883 £1,927,735
         
  Capital and reserves
  Called up share capital 10 1,000 100
  Share premium account   2,216,122 2,216,122
  Profit and loss account   (280,239) (288,487)
  Total equity   £1,936,883 £1,927,735
         
   
  Page 2
             
             
             
             
             
  SORBUS RURAL LTD
             
  BALANCE SHEET (CONTINUED)
         
         
  The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
         
  For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
         
  The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
  The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
         
  These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
         
  The financial statements were approved by the board of directors and authorised for issue on 26 March 2024 and are signed on its behalf by:
 
         
  ................................................................
  Mr A B J I Boswell
  Director
         
  Company Registered Number: 13518216
   
  Page 3
       
       
       
       
       
       
  SORBUS RURAL LTD
       
  NOTES TO THE UNAUDITED FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 30 SEPTEMBER 2023
       
 
1 Accounting policies
     
     
1a Company information
     
  Sorbus Rural Ltd is a private company limited by shares incorporated in England and Wales. The registered office is given on the company information page.
     
1b Accounting convention
     
  These financial statements have been prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
  The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
     
 
     
       
1c Turnover
       
  Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
       
   
  Page 4
       
       
       
       
       
       
  SORBUS RURAL LTD
       
  NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (CONTINUED)
  FOR THE YEAR ENDED 30 SEPTEMBER 2023
       
 
       
1d Intangible fixed assets
       
  Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date if the fair value can be measured reliably.
       
  Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:
       
  Basic payment scheme entitlements 2 years on a straight line basis  
  Tenancy None  
       
1e Tangible fixed assets
         
  Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
         
    %    
  Tenants improvements 4 straight line  
  Plant and equipment 10 - 25 reducing balance  
  Plant and equipment 50 & 100 straight line  
  Solar panels 20 reducing balance  
  Motor vehicles 20 reducing balance  
         
  The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
         
       
       
1f Investment properties
       
  Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.
       
       
   
  Page 5
       
       
       
       
       
       
  SORBUS RURAL LTD
       
  NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (CONTINUED)
  FOR THE YEAR ENDED 30 SEPTEMBER 2023
       
 
       
1g Stock
       
  Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
       
       
1h Cash and cash equivalents
       
  Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
       
       
1i Taxation
       
  The tax expense represents the sum of the tax currently payable and deferred tax.
       
  Current tax
  The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
       
  Deferred tax
  Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
       
   
  Page 6
       
       
       
       
       
       
  SORBUS RURAL LTD
       
  NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (CONTINUED)
  FOR THE YEAR ENDED 30 SEPTEMBER 2023
       
 
1j Employee benefits
         
  The costs of short-term employee benefits are recongised as a liability and an expenses, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
         
  The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
         
  Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
         
       
1k Retirement benefits
       
  Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
       
1l Government grants
       
  Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
       
       
       
2. Judgements and key sources of estimation uncertainty
       
  In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
       
  The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is reviewed when the revision affects only that period, or in the period of revision and future periods where the period of the revision and future periods where the revision affects both current and future periods.
       
   
  Page 7
       
       
       
       
       
       
  SORBUS RURAL LTD
       
  NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (CONTINUED)
  FOR THE YEAR ENDED 30 SEPTEMBER 2023
       
       
3. Average employees
       
  The average monthly number of persons (including directors) employed by the company during the year was as follows:
    2023 2022
    Number Number
  Employees 5 5
   
           
           
4 Intangible fixed assets
           
    Goodwill BPS    
    on solar entitlements Tenancy Total
    ££ ££ ££ ££
  Cost
  At 1 October 2022 140,000 74,800 1,783,074 1,997,874
  At 30 September 2023 140,000 74,800 1,783,074 1,997,874
  Amortisation
  At 1 October 2022 14,000 37,400 - 51,400
  Provision for the year 14,000 37,400 - 51,400
  At 30 September 2023 28,000 74,800 - 102,800
  Carrying amount
  At 30 September 2023 £112,000 £- £1,783,074 £1,895,074
   
  Carrying amount
  At 30 September 2022 £126,000 £37,400 £1,783,074 £1,946,474
   
   
  Page 8
       
       
       
       
       
       
  SORBUS RURAL LTD
       
  NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (CONTINUED)
  FOR THE YEAR ENDED 30 SEPTEMBER 2023
 
     
5. Tangible fixed assets - Property
    Tenants
    improvements
    £
  Cost
  At 1 October 2022 44,838
  Additions 11,060
  At 30 September 2023 55,898
  Depreciation and impairment
  At 1 October 2022 1,792
  Correction (105)
  Provision for the year 2,233
  At 30 September 2023 3,920
  Carrying amount
  At 30 September 2023 £51,978
  Carrying amount
  At 30 September 2022 £43,046
   
   
  Page 9
       
       
       
       
       
       
  SORBUS RURAL LTD
       
  NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (CONTINUED)
  FOR THE YEAR ENDED 30 SEPTEMBER 2023
 
           
6. Tangible fixed assets - Equipment etc.
    Plant and Solar Motor  
    equipment panels vehicles Total
    £ £ £ £
  Cost
  At 1 October 2022 63,321 35,409 3,262 101,992
  Additions 17,231 - 16,495 33,726
  Correction (1,871) - 3,000 1,129
  Disposals - - (3,056) (3,056)
  At 30 September 2023 78,681 35,409 19,701 133,791
  Depreciation
  At 1 October 2022 11,172 7,082 653 18,907
  Correction (523) - 1,059 536
  Provision for the year 12,387 5,665 3,332 21,384
  Disposals - - (612) (612)
  At 30 September 2023 23,036 12,747 4,432 40,215
  Carrying amount
  At 30 September 2023 £55,645 £22,662 £15,269 £93,576
  Carrying amount
  At 30 September 2022 £52,149 £28,327 £2,609 £83,085
   
       
       
7. Stocks
    2023 2022
    £ £
  Farm valuation comprises:
       
  Produce 340,822 264,702
  Seeds, fertilisers and sprays 7,862 26,349
  Goods in store 45,590 115,096
  Hay 2,450 2,620
  Tillages 32,247 38,339
    £428,971 £447,106
   
   
  Page 10
       
       
       
       
       
       
  SORBUS RURAL LTD
       
  NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (CONTINUED)
  FOR THE YEAR ENDED 30 SEPTEMBER 2023
       
       
8. Debtors
    2023 2022
    £ £
  Amounts falling due within one year:
       
  Trade debtors 24,859 18,859
  Prepayments and accrued income 99,937 127,208
  Other debtors 55,388 83,204
  VAT recoverable 15,771 133,893
    £195,955 £363,164
   
       
       
9. Creditors
    2023 2022
    £ £
  Amounts falling due within one year:
       
  Trade creditors 86,455 180,225
  Corporation tax 12,858 10,529
  Other taxes and social security 1,492 1,344
  Other creditors 337,432 285,505
  Accruals and deferred income 399,294 522,181
    £837,531 £999,784
   
       
       
       
10. Share capital
    2023 2022
    £ £
  Allotted, called up and fully paid:
       
  1000 Ordinary shares of £1 each £1,000 £100
   
   
  Page 11
       
       
       
       
       
       
  SORBUS RURAL LTD
       
  NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (CONTINUED)
  FOR THE YEAR ENDED 30 SEPTEMBER 2023
       
       
11 Directors' transactions
       
  As at the balance sheet date Sorbus Rural Ltd owed the directors £296,362 (2022 - £247,445) this is included in other creditors. These are unsecured interest free loans, with no set terms of repayment and the directors will not call on Sorbus Rural Ltd to repay these loans unless it is in a position to do so.
       
       
12 Related party transactions
       
  As at the balance sheet date Sorbus Rural Ltd owed £464 to Miss A Boswell (2022 - Miss A Boswell owed the company £1,364), who is the daughter of the directors. This is included in other creditors and is an interest free loan with no set terms of repayment.
       
       
   
  Page 12