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Registration number: 03349512

Rockscape Farms Ltd
(formerly G R Bletcher & Son Limited)

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Rockscape Farms Ltd
(formerly G R Bletcher & Son Limited)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Rockscape Farms Ltd
(formerly G R Bletcher & Son Limited)

Company Information

Directors

Mrs R H Bletcher

Mr T R Bletcher

Mr P R Bletcher

Registered office

North Moor Farm
Crowle
North Lincolnshire
DN17 4DA

Accountants

Wright Vigar Ltd
Office 1 Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA

 

Rockscape Farms Ltd
(formerly G R Bletcher & Son Limited)

(Registration number: 03349512)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

477

1,048

Tangible assets

6

2,472,230

1,402,877

 

2,472,707

1,403,925

Current assets

 

Stocks

7

666,942

570,351

Debtors

8

795,567

464,651

Other financial assets

-

7,620

Cash at bank and in hand

 

710,217

18,980

 

2,172,726

1,061,602

Creditors: Amounts falling due within one year

9

(982,305)

(403,462)

Net current assets

 

1,190,421

658,140

Total assets less current liabilities

 

3,663,128

2,062,065

Creditors: Amounts falling due after more than one year

9

(1,955,748)

(570,539)

Provisions for liabilities

(218,686)

(119,394)

Net assets

 

1,488,694

1,372,132

Capital and reserves

 

Called up share capital

10

20,000

20,000

Retained earnings

1,468,694

1,352,132

Shareholders' funds

 

1,488,694

1,372,132

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 23 February 2024 and signed on its behalf by:
 

.........................................
Mr T R Bletcher
Director

 

Rockscape Farms Ltd
(formerly G R Bletcher & Son Limited)

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The company was formerly known as G R Bletcher & Son Limited.

The address of its registered office is:
North Moor Farm
Crowle
North Lincolnshire
DN17 4DA
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Other grants

Grants relating to revenue are recognised in the profit and loss account on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Rockscape Farms Ltd
(formerly G R Bletcher & Son Limited)

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Buildings

4% on cost

Office equipment

20% on cost

Grainstore

4% on cost

Plant and machinery

4% on cost and 15% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Entitlements

3 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Rockscape Farms Ltd
(formerly G R Bletcher & Son Limited)

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Derivative financial instruments and hedging

Derivatives
Derivatives are initially measured at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. Any gain or loss resulting from movements in the fair value is recognised in the statement of comprehensive income and placed in a hedging reserve account.

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

 Hedging
The directors have decided to apply hedge accounting and treat derivatives as cash flow hedges.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

103,983

80,477

Amortisation expense

571

571

5

Intangible assets

Entitlements
 £

Total
£

Cost or valuation

At 1 July 2022

1,714

1,714

At 30 June 2023

1,714

1,714

Amortisation

At 1 July 2022

666

666

Amortisation charge

571

571

At 30 June 2023

1,237

1,237

Carrying amount

At 30 June 2023

477

477

At 30 June 2022

1,048

1,048

 

Rockscape Farms Ltd
(formerly G R Bletcher & Son Limited)

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

6

Tangible assets

Land and buildings
£

Office equipment
£

Grain store
£

Plant and machinery
£

Cost or valuation

At 1 July 2022

745,633

12,233

991,363

309,200

Additions

13,972

-

-

1,159,364

At 30 June 2023

759,605

12,233

991,363

1,468,564

Depreciation

At 1 July 2022

89,361

12,224

439,537

114,430

Charge for the year

29,483

-

39,655

34,845

At 30 June 2023

118,844

12,224

479,192

149,275

Carrying amount

At 30 June 2023

640,761

9

512,171

1,319,289

At 30 June 2022

656,271

9

551,826

194,771

Total
£

Cost or valuation

At 1 July 2022

2,058,429

Additions

1,173,336

At 30 June 2023

3,231,765

Depreciation

At 1 July 2022

655,552

Charge for the year

103,983

At 30 June 2023

759,535

Carrying amount

At 30 June 2023

2,472,230

At 30 June 2022

1,402,877

7

Stocks

2023
£

2022
£

Growing crop valuation

624,165

482,296

Crops in store

42,777

88,055

666,942

570,351



 

 

Rockscape Farms Ltd
(formerly G R Bletcher & Son Limited)

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

8

Debtors

Current

2023
£

2022
£

Trade debtors

480,106

330,871

Amounts owed by related parties

13,155

-

Prepayments

76,245

77,770

Other debtors

226,061

56,010

 

795,567

464,651

9

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

584,573

96,552

Amounts owed to group undertakings and undertakings in which the company has a participating interest

91,385

-

Accruals and deferred income

181,347

181,910

Other creditors

125,000

125,000

982,305

403,462

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

11

1,955,748

570,539

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

20,000

20,000

20,000

20,000

         
 

Rockscape Farms Ltd
(formerly G R Bletcher & Son Limited)

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

11

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

1,955,748

570,539