REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2023 |
FOR |
THE BLACKMOOR ESTATE LIMITED |
REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2023 |
FOR |
THE BLACKMOOR ESTATE LIMITED |
THE BLACKMOOR ESTATE LIMITED (REGISTERED NUMBER: 00201364) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
THE BLACKMOOR ESTATE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH JUNE 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
and Statutory Auditors |
25 St Thomas Street |
Winchester |
Hampshire |
SO23 9HJ |
SOLICITORS: |
12 St Thomas Street |
Winchester |
Hampshire |
SO23 9HF |
THE BLACKMOOR ESTATE LIMITED (REGISTERED NUMBER: 00201364) |
BALANCE SHEET |
30TH JUNE 2023 |
30.6.23 | 30.6.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 11 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
THE BLACKMOOR ESTATE LIMITED (REGISTERED NUMBER: 00201364) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2023 |
1. | STATUTORY INFORMATION |
The Blackmoor Estate Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is the net amount invoiced for goods or services, excluding value added tax. In the Estate, turnover from rental of land and buildings, whether invoiced in advance or in arrears, is recognised across the period it is receivable. |
Sales of fruit are recognised on receipt of the self billing invoice from the fruit packing agent. |
In the Nursery, sales of trees and plants are recognised when the goods are despatched to the customer. |
In the Farm turnover is recognised once the crop is harvested and sold. |
Cider sales are recognised when the goods are despatched to the customer. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the assets capable of operating as intended. |
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. |
Land - nil |
Freehold buildings - 0.5% straight line, 5% straight line and 25% straight line |
Plant and machinery etc - 25% straight line |
The depreciation policy for freehold property was changed during the year from 0.5% to 5% straight line and 25% as the directors feel this more accurately reflects the estimated useful lives of the freehold property held. |
THE BLACKMOOR ESTATE LIMITED (REGISTERED NUMBER: 00201364) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2023 |
2. | ACCOUNTING POLICIES - continued |
Stocks |
In the Farm and Orchard amounts spent in preparing land and trees for future seasons and crops - including seeds, fertilisers and labour are called tillages. These are treated as stock and valued at cost. |
In the Nursery certain plants are grown on for a number of years before being sold. The initial cost of these plants is increased each year by the estimated cost of spraying, pruning etc. |
All other items are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. |
Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. |
Financial instruments |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised. |
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
THE BLACKMOOR ESTATE LIMITED (REGISTERED NUMBER: 00201364) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Government grants |
Government grants receivable in respect of revenue items are credited to the profit and loss account in the period in which they become receivable. |
Government grants receivable in respect of capital expenditure is deducted from the purchase price or development cost of the related asset. |
Investments |
Unlisted investments are included at cost less impairment where it is not possible to measure fair value reliably. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
Goodwill | assets | Totals |
£ | £ | £ |
COST |
At 1st July 2022 |
Additions |
At 30th June 2023 |
AMORTISATION |
Charge for year |
At 30th June 2023 |
NET BOOK VALUE |
At 30th June 2023 |
At 30th June 2022 |
THE BLACKMOOR ESTATE LIMITED (REGISTERED NUMBER: 00201364) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2023 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1st July 2022 |
Additions |
At 30th June 2023 |
DEPRECIATION |
At 1st July 2022 |
Charge for year |
At 30th June 2023 |
NET BOOK VALUE |
At 30th June 2023 |
At 30th June 2022 |
Included in cost or valuation of land and buildings is freehold land of £ 13,259,572 (2022 - £ 13,259,572 ) which is not depreciated. |
Cost or valuation at 30th June 2023 is represented by: |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Cost | 30,315,750 | 827,940 | 31,143,690 |
6. | FIXED ASSET INVESTMENTS |
30.6.23 | 30.6.22 |
£ | £ |
Other investments not loans |
Other loans |
THE BLACKMOOR ESTATE LIMITED (REGISTERED NUMBER: 00201364) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2023 |
6. | FIXED ASSET INVESTMENTS - continued |
Additional information is as follows: |
Other |
investments |
£ |
COST OR VALUATION |
At 1st July 2022 |
Disposals | ( |
) |
Impairments | ( |
) |
At 30th June 2023 |
NET BOOK VALUE |
At 30th June 2023 |
At 30th June 2022 |
Cost or valuation at 30th June 2023 is represented by: |
Other |
investments |
£ |
Cost | 461 |
Other |
loans |
£ |
At 1st July 2022 |
and 30th June 2023 |
The other loans relate to loans made to staff. None of these staff are, or have been directors at any time. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
THE BLACKMOOR ESTATE LIMITED (REGISTERED NUMBER: 00201364) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2023 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Bank loans |
Hire purchase contracts |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans repayable by |
instalments in more than 5 |
years | 3,063,809 | 3,097,198 |
3,063,809 | 3,097,198 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.6.23 | 30.6.22 |
£ | £ |
Bank loans |
Hire purchase contracts | 23,090 | - |
The bank loans are secured by way of a mortgage deed over specific properties and land owned by the company. |
11. | RESERVES |
Revaluation |
reserve |
£ |
At 1st July 2022 |
and 30th June 2023 |
12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
THE BLACKMOOR ESTATE LIMITED (REGISTERED NUMBER: 00201364) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2023 |
13. | CAPITAL COMMITMENTS |
30.6.23 | 30.6.22 |
£ | £ |
Contracted but not provided for in the |
financial statements |
14. | OTHER FINANCIAL COMMITMENTS |
Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £133,439 (2022: £18,397). |
15. | POST BALANCE SHEET EVENTS |
The company had entered into a joint venture in the year. On the 1st July 2023 Blackmoor transferred all of the assets to Countryside Logs Limited which ceased the joint venture in return for 25% share capital in Countryside Logs Limited. |
16. | DEFERRED TAX |
A deferred tax asset of £401,000 (2022: £393,000) has not been provided for as it is not considered likely that sufficient taxable profits to recover the asset will be generated in the foreseeable future. |