Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-312023-05-31false2022-06-01animal boarding and care3116truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02927420 2022-06-01 2023-05-31 02927420 2021-06-01 2022-05-31 02927420 2023-05-31 02927420 2022-05-31 02927420 c:Director1 2022-06-01 2023-05-31 02927420 d:Buildings 2022-06-01 2023-05-31 02927420 d:Buildings 2023-05-31 02927420 d:Buildings 2022-05-31 02927420 d:Buildings d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 02927420 d:PlantMachinery 2022-06-01 2023-05-31 02927420 d:PlantMachinery 2023-05-31 02927420 d:PlantMachinery 2022-05-31 02927420 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 02927420 d:MotorVehicles 2022-06-01 2023-05-31 02927420 d:MotorVehicles 2023-05-31 02927420 d:MotorVehicles 2022-05-31 02927420 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 02927420 d:OtherPropertyPlantEquipment 2022-06-01 2023-05-31 02927420 d:OtherPropertyPlantEquipment 2023-05-31 02927420 d:OtherPropertyPlantEquipment 2022-05-31 02927420 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 02927420 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 02927420 d:CurrentFinancialInstruments 2023-05-31 02927420 d:CurrentFinancialInstruments 2022-05-31 02927420 d:Non-currentFinancialInstruments 2023-05-31 02927420 d:Non-currentFinancialInstruments 2022-05-31 02927420 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 02927420 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 02927420 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 02927420 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 02927420 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 02927420 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-05-31 02927420 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 02927420 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-05-31 02927420 d:ShareCapital 2023-05-31 02927420 d:ShareCapital 2022-05-31 02927420 d:SharePremium 2023-05-31 02927420 d:SharePremium 2022-05-31 02927420 d:RetainedEarningsAccumulatedLosses 2023-05-31 02927420 d:RetainedEarningsAccumulatedLosses 2022-05-31 02927420 c:FRS102 2022-06-01 2023-05-31 02927420 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 02927420 c:FullAccounts 2022-06-01 2023-05-31 02927420 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 02927420 2 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure
Registered number: 02927420






DUCK END FARM LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










img10b1.png

 
DUCK END FARM LIMITED
REGISTERED NUMBER:02927420

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
807,566
814,228

  
807,566
814,228

Current assets
  

Stocks
  
35,820
300

Debtors: amounts falling due within one year
 5 
8,005
9,957

Current asset investments
 6 
126
126

Cash at bank and in hand
 7 
168,242
135,132

  
212,193
145,515

Creditors: amounts falling due within one year
 8 
(125,736)
(134,249)

Net current assets
  
 
 
86,457
 
 
11,266

Total assets less current liabilities
  
894,023
825,494

Creditors: amounts falling due after more than one year
 9 
(21,183)
(30,952)

  

Net assets
  
872,840
794,542


Capital and reserves
  

Called up share capital 
  
99,313
99,313

Share premium account
  
167,918
167,918

Profit and loss account
  
605,609
527,311

  
872,840
794,542

Page 1

 
DUCK END FARM LIMITED
REGISTERED NUMBER:02927420
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023

The directors consider 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 directors acknowledge their 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: 



M J Menhinick
Director

Date: 22 February 2024

Page 2

 
DUCK END FARM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Duck End Farm Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Millhouse, 32-38 East Street, Rochford, Essex, SS4 1DB.
The prinicple activity of the company continued to be that of animal boarding and care.

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 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:

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.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
DUCK END FARM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

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.

 
2.8

Taxation

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 income 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.

 
2.9

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
Reducing Balance & 25% Straight Line
Motor vehicles
-
25%
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.

Page 4

 
DUCK END FARM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

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
Page 5

 
DUCK END FARM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)

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.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 31 (2022 - 16).

Page 6

 
DUCK END FARM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Improvements to Property
Total

£
£
£
£
£



Cost or valuation


At 1 June 2022
139,649
74,061
58,634
628,714
901,058


Additions
-
3,990
-
3,094
7,084


Disposals
-
(23,310)
-
-
(23,310)



At 31 May 2023

139,649
54,741
58,634
631,808
884,832



Depreciation


At 1 June 2022
-
46,214
40,616
-
86,830


Charge for the year on owned assets
-
6,428
4,540
-
10,968


Disposals
-
(20,532)
-
-
(20,532)



At 31 May 2023

-
32,110
45,156
-
77,266



Net book value



At 31 May 2023
139,649
22,631
13,478
631,808
807,566



At 31 May 2022
139,649
27,847
18,018
628,714
814,228

Page 7

 
DUCK END FARM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
1,643
6,830

Other debtors
-
2,511

Prepayments and accrued income
6,362
616

8,005
9,957



6.


Current asset investments

2023
2022
£
£

Unlisted investments
126
126

126
126



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
168,242
135,132

168,242
135,132



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
9,769
19,914

Trade creditors
-
26,933

Taxation and social security
44,989
37,825

Obligations under finance lease and hire purchase contracts
-
25,346

Other creditors
36,321
12,770

Accruals and deferred income
34,657
11,461

125,736
134,249


The bank loan is secured by way of a fixed and floating charge over the company's freehhold property and other assets. Obilgations under finance lease and hire purchase contracts are secured on the assets to which they relate.

Page 8

 
DUCK END FARM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
21,183
30,952

21,183
30,952


The bank loan is secured by way of a fixed and floating charge over the company's freehhold property and other assets. Obilgations under finance lease and hire purchase contracts are secured on the assets to which they relate.


10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
9,769
19,914

Amounts falling due 1-2 years

Bank loans
10,026
9,769

Amounts falling due 2-5 years

Bank loans
11,157
21,183


30,952
50,866



11.


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 £1,443 (2022: £1,128). Contributions totalling £318 (2022: £261) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9