Bramall Farming Ltd 09312412 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is farming. Digita Accounts Production Advanced 6.30.9574.0 true 09312412 2022-07-01 2023-06-30 09312412 2023-06-30 09312412 bus:OrdinaryShareClass1 2023-06-30 09312412 core:CurrentFinancialInstruments 2023-06-30 09312412 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 09312412 core:Non-currentFinancialInstruments 2023-06-30 09312412 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 09312412 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 09312412 core:OtherPropertyPlantEquipment 2023-06-30 09312412 bus:SmallEntities 2022-07-01 2023-06-30 09312412 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 09312412 bus:FullAccounts 2022-07-01 2023-06-30 09312412 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 09312412 bus:RegisteredOffice 2022-07-01 2023-06-30 09312412 bus:Director1 2022-07-01 2023-06-30 09312412 bus:Director3 2022-07-01 2023-06-30 09312412 bus:Director4 2022-07-01 2023-06-30 09312412 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 09312412 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 09312412 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-07-01 2023-06-30 09312412 core:IntangibleAssetsOtherThanGoodwill 2022-07-01 2023-06-30 09312412 core:OtherPropertyPlantEquipment 2022-07-01 2023-06-30 09312412 core:PlantMachinery 2022-07-01 2023-06-30 09312412 countries:England 2022-07-01 2023-06-30 09312412 2022-06-30 09312412 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-06-30 09312412 core:OtherPropertyPlantEquipment 2022-06-30 09312412 2021-07-01 2022-06-30 09312412 2022-06-30 09312412 bus:OrdinaryShareClass1 2022-06-30 09312412 core:CurrentFinancialInstruments 2022-06-30 09312412 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 09312412 core:Non-currentFinancialInstruments 2022-06-30 09312412 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 09312412 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-06-30 09312412 core:OtherPropertyPlantEquipment 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09312412

Bramall Farming Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Bramall Farming Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Bramall Farming Ltd

Company Information

Directors

Dr T G Bramall

Mrs E Bramall

Mrs S C Allard

Registered office

30 Victoria Avenue
Harrogate
North Yorkshire
HG1 5PR

Accountants

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

 

Bramall Farming Ltd

(Registration number: 09312412)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

156

343

Tangible assets

6

155,657

320,600

 

155,813

320,943

Current assets

 

Stocks

7

699,773

862,662

Debtors

8

632,637

366,442

Cash at bank and in hand

 

561,677

25,520

 

1,894,087

1,254,624

Creditors: Amounts falling due within one year

9

(753,717)

(602,787)

Net current assets

 

1,140,370

651,837

Total assets less current liabilities

 

1,296,183

972,780

Creditors: Amounts falling due after more than one year

9

(919,147)

(934,261)

Provisions for liabilities

(38,139)

(21,711)

Net assets

 

338,897

16,808

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

338,797

16,708

Shareholders' funds

 

338,897

16,808

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 22 February 2024 and signed on its behalf by:
 

.........................................

Dr T G Bramall
Director

 

Bramall Farming Ltd

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 address of its registered office is:
30 Victoria Avenue
Harrogate
North Yorkshire
HG1 5PR

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.

Tax

The tax expense for the period comprises current and 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable 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.

 

Bramall Farming Ltd

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

Other tangible assets

25% 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Bramall Farming Ltd

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

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.

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.

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

70,736

55,400

Amortisation expense

187

2,586

5

Intangible assets

Entitlements
£

Total
£

Cost or valuation

At 1 July 2022

63,886

63,886

At 30 June 2023

63,886

63,886

Amortisation

At 1 July 2022

63,543

63,543

Amortisation charge

187

187

At 30 June 2023

63,730

63,730

Carrying amount

At 30 June 2023

156

156

At 30 June 2022

343

343

 

Bramall Farming Ltd

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

6

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2022

403,020

403,020

Additions

1,704

1,704

Disposals

(169,960)

(169,960)

At 30 June 2023

234,764

234,764

Depreciation

At 1 July 2022

82,420

82,420

Charge for the year

70,736

70,736

Eliminated on disposal

(74,049)

(74,049)

At 30 June 2023

79,107

79,107

Carrying amount

At 30 June 2023

155,657

155,657

At 30 June 2022

320,600

320,600

7

Stocks

2023
£

2022
£

Growing crop valuation

662,740

726,944

Other inventories

37,033

135,718

699,773

862,662

8

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

421,490

188,027

Amounts owed by related parties

91,385

1,358

Prepayments

 

48,335

35,099

Other debtors

 

71,427

141,958

   

632,637

366,442



 

 

Bramall Farming Ltd

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

9

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

160,435

207,768

Taxation and social security

79,014

-

Accruals and deferred income

214,268

95,019

Other creditors

300,000

300,000

753,717

602,787

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

11

919,147

934,261

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

11

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

919,147

934,261