Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-315763No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01false33truetrue 03226445 2023-01-01 2023-12-31 03226445 2022-01-01 2022-12-31 03226445 2023-12-31 03226445 2022-12-31 03226445 c:Director1 2023-01-01 2023-12-31 03226445 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 03226445 d:Buildings d:LongLeaseholdAssets 2023-12-31 03226445 d:Buildings d:LongLeaseholdAssets 2022-12-31 03226445 d:PlantMachinery 2023-01-01 2023-12-31 03226445 d:PlantMachinery 2023-12-31 03226445 d:PlantMachinery 2022-12-31 03226445 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03226445 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 03226445 d:MotorVehicles 2023-01-01 2023-12-31 03226445 d:MotorVehicles 2023-12-31 03226445 d:MotorVehicles 2022-12-31 03226445 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03226445 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 03226445 d:FurnitureFittings 2023-01-01 2023-12-31 03226445 d:FurnitureFittings 2023-12-31 03226445 d:FurnitureFittings 2022-12-31 03226445 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03226445 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 03226445 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03226445 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 03226445 d:CurrentFinancialInstruments 2023-12-31 03226445 d:CurrentFinancialInstruments 2022-12-31 03226445 d:Non-currentFinancialInstruments 2023-12-31 03226445 d:Non-currentFinancialInstruments 2022-12-31 03226445 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03226445 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03226445 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 03226445 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 03226445 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 03226445 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 03226445 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 03226445 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 03226445 d:ShareCapital 2023-12-31 03226445 d:ShareCapital 2022-12-31 03226445 d:SharePremium 2023-12-31 03226445 d:SharePremium 2022-12-31 03226445 d:RetainedEarningsAccumulatedLosses 2023-12-31 03226445 d:RetainedEarningsAccumulatedLosses 2022-12-31 03226445 c:FRS102 2023-01-01 2023-12-31 03226445 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03226445 c:FullAccounts 2023-01-01 2023-12-31 03226445 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03226445 2 2023-01-01 2023-12-31 03226445 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 03226445 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 03226445 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 03226445










LILLECHURCH FARMS & CONTRACTING LTD.








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
LILLECHURCH FARMS & CONTRACTING LTD.
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LILLECHURCH FARMS & CONTRACTING LTD.
FOR THE YEAR ENDED 31 DECEMBER 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 Lillechurch Farms & Contracting Ltd. for the year ended 31 December 2023 which comprise  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 https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Lillechurch Farms & Contracting Ltd., as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lillechurch Farms & Contracting Ltd. and state those matters that we have agreed to state to the Board of directors of Lillechurch Farms & Contracting Ltd., as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lillechurch Farms & Contracting Ltd. and its Board of directors, as a body, for our work or for this report.

It is your duty to ensure that Lillechurch Farms & Contracting 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 loss of Lillechurch Farms & Contracting Ltd.. You consider that Lillechurch Farms & Contracting Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Lillechurch Farms & Contracting 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.

  



Hedley Dunk Limited
 
Chartered Accountants
  
Trinity House
3 Bullace Lane
Dartford
Kent
DA1 1BB
9 April 2024
Page 1

 
LILLECHURCH FARMS & CONTRACTING LTD.
REGISTERED NUMBER: 03226445

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
819,707
976,244

Current assets
  

Stocks
 5 
548,355
702,157

Debtors: amounts falling due within one year
 6 
103,958
348,597

Cash at bank and in hand
  
350,914
18,282

  
1,003,227
1,069,036

Creditors: amounts falling due within one year
 7 
(322,363)
(392,827)

Net current assets
  
 
 
680,864
 
 
676,209

Total assets less current liabilities
  
1,500,571
1,652,453

Creditors: amounts falling due after more than one year
 8 
(233,971)
(347,545)

Provisions for liabilities
  

Deferred tax
 10 
(144,166)
(148,681)

  
 
 
(144,166)
 
 
(148,681)

Net assets
  
1,122,434
1,156,227


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Share premium account
  
212,444
212,444

Profit and loss account
  
899,990
933,783

  
1,122,434
1,156,227


Page 2

 
LILLECHURCH FARMS & CONTRACTING LTD.
REGISTERED NUMBER: 03226445

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers 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 director acknowledges his 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: 




................................................
R K Shove
Director

Date: 9 April 2024

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
LILLECHURCH FARMS & CONTRACTING LTD.
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is incorporated in England and its registered office, also its prinicipal place of carrying on its main business of arable farming, is situated at Lillechurch Farm, Lillechurch Road, Higham, Rochester, Kent ME3 7HW.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

Interest income

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

 
2.4

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 4

 
LILLECHURCH FARMS & CONTRACTING LTD.
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Borrowing costs

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

 
2.6

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.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

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.

Page 5

 
LILLECHURCH FARMS & CONTRACTING LTD.
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

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:

Long term leasehold property
-
2.00%
straight line
Plant and machinery
-
22.50%
reducing balance
Motor vehicles
-
25.00%
reducing balance
Fixtures and fittings
-
33.33%
reducing balance for older assets, straight line for more recent acquisitions

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.

 
2.9

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.

Work in progress is identified in the statement of income and retained earnings as additional income.

 
2.10

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.

 
2.11

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.

 
2.12

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.

Page 6

 
LILLECHURCH FARMS & CONTRACTING LTD.
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
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 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 7

 
LILLECHURCH FARMS & CONTRACTING LTD.
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Long term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
251,758
1,431,544
17,915
6,807
1,708,024


Additions
18,807
7,776
-
-
26,583



At 31 December 2023

270,565
1,439,320
17,915
6,807
1,734,607



Depreciation


At 1 January 2023
58,044
667,584
-
6,152
731,780


Charge for the year on owned assets
5,763
47,810
4,479
218
58,270


Charge for the year on financed assets
-
124,850
-
-
124,850



At 31 December 2023

63,807
840,244
4,479
6,370
914,900



Net book value



At 31 December 2023
206,758
599,076
13,436
437
819,707



At 31 December 2022
193,714
763,960
17,915
655
976,244


5.


Stocks

2023
2022
£
£

Raw materials and consumables
112,238
131,664

Work in progress (goods to be sold)
173,742
179,986

Finished goods and goods for resale
262,375
390,507

548,355
702,157


Page 8

 
LILLECHURCH FARMS & CONTRACTING LTD.
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
53,326
227,858

Other debtors
-
20,463

Prepayments and accrued income
36,985
86,629

Tax recoverable
13,647
13,647

103,958
348,597



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Debenture loans
639
639

Bank loans
7,134
6,854

Trade creditors
13,396
95,910

Corporation tax
41,091
29,148

Other taxation and social security
526
-

Obligations under finance lease and hire purchase contracts
106,440
106,440

Other creditors
143,899
143,899

Accruals and deferred income
9,238
9,937

322,363
392,827



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
233,971
347,545


Page 9

 
LILLECHURCH FARMS & CONTRACTING LTD.
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
7,134
6,854

Debenture loans
639
639


7,773
7,493


Amounts falling due 2-5 years

Bank loans
193,639
298,742

Amounts falling due after more than 5 years

Bank loans
40,332
48,803

241,744
355,038



10.


Deferred taxation




2023


£






At beginning of year
(148,681)


Charged to profit or loss
4,515



At end of year
(144,166)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(144,166)
(148,681)


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 £9,608 (2022 - £59,552). Contributions totalling £nil (2022 - £nil) were payable to the fund at the balance sheet date


Page 10