1 30/06/2023 2023-06-30 false false false false false false false false false false true false false true false false false false false false true No description of principal activities is disclosed 2022-07-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 09355216 2022-07-01 2023-06-30 09355216 2023-06-30 09355216 2022-06-30 09355216 2021-07-01 2022-06-30 09355216 2022-06-30 09355216 bus:Director1 2022-07-01 2023-06-30 09355216 core:IntangibleAssetsOtherThanGoodwill 2022-06-30 09355216 core:IntangibleAssetsOtherThanGoodwill 2023-06-30 09355216 core:LandBuildings core:ShortLeaseholdAssets 2022-06-30 09355216 core:PlantMachinery 2022-06-30 09355216 core:FurnitureFittingsToolsEquipment 2022-06-30 09355216 core:MotorVehicles 2022-06-30 09355216 core:LandBuildings core:ShortLeaseholdAssets 2023-06-30 09355216 core:PlantMachinery 2023-06-30 09355216 core:FurnitureFittingsToolsEquipment 2023-06-30 09355216 core:MotorVehicles 2023-06-30 09355216 core:WithinOneYear 2023-06-30 09355216 core:WithinOneYear 2022-06-30 09355216 core:AfterOneYear 2023-06-30 09355216 core:AfterOneYear 2022-06-30 09355216 core:LandBuildings core:ShortLeaseholdAssets 2022-07-01 2023-06-30 09355216 core:PlantMachinery 2022-07-01 2023-06-30 09355216 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 09355216 core:MotorVehicles 2022-07-01 2023-06-30 09355216 core:ShareCapital 2023-06-30 09355216 core:ShareCapital 2022-06-30 09355216 core:RetainedEarningsAccumulatedLosses 2023-06-30 09355216 core:RetainedEarningsAccumulatedLosses 2022-06-30 09355216 core:IntangibleAssetsOtherThanGoodwill 2022-07-01 2023-06-30 09355216 core:IntangibleAssetsOtherThanGoodwill 2022-06-30 09355216 core:LandBuildings core:ShortLeaseholdAssets 2022-06-30 09355216 core:PlantMachinery 2022-06-30 09355216 core:FurnitureFittingsToolsEquipment 2022-06-30 09355216 core:MotorVehicles 2022-06-30 09355216 bus:SmallEntities 2022-07-01 2023-06-30 09355216 bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 09355216 bus:FullAccounts 2022-07-01 2023-06-30 09355216 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 09355216 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30
Company registration number: 09355216
Hightrees Farm Limited
Unaudited filleted financial statements
30 June 2023
Hightrees Farm Limited
Contents
Statement of financial position
Notes to the financial statements
Hightrees Farm Limited
Statement of financial position
30 June 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 2,998 3,748
Tangible assets 6 172,016 171,038
_______ _______
175,014 174,786
Current assets
Stocks 67,635 66,521
Debtors 7 2,327 4,539
Cash at bank and in hand 14,143 21,345
_______ _______
84,105 92,405
Creditors: amounts falling due
within one year 8 ( 209,770) ( 202,800)
_______ _______
Net current liabilities ( 125,665) ( 110,395)
_______ _______
Total assets less current liabilities 49,349 64,391
Creditors: amounts falling due
after more than one year 9 ( 3,049) ( 6,787)
Provisions for liabilities ( 17,423) ( 12,098)
_______ _______
Net assets 28,877 45,506
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 28,876 45,505
_______ _______
Shareholders funds 28,877 45,506
_______ _______
For the 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 23 April 2024 , and are signed on behalf of the board by:
Mr P Thornycroft
Director
Company registration number: 09355216
Hightrees Farm Limited
Notes to the financial statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is High Trees Farm, Shatterford, Bewdley, Worcestershire, DY12 1TL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for livestock and crops supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of livestock and crops is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on delivery); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Livestock are valued at estimated market value, growing crops are valued at cost incurred to that point and other stocks at cost.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Intangible assets
Other intangible assets Total
£ £
Cost
At 1 July 2022 and 30 June 2023 7,498 7,498
_______ _______
Amortisation
At 1 July 2022 3,750 3,750
Charge for the year 750 750
_______ _______
At 30 June 2023 4,500 4,500
_______ _______
Carrying amount
At 30 June 2023 2,998 2,998
_______ _______
At 30 June 2022 3,748 3,748
_______ _______
6. Tangible assets
Short leasehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 July 2022 11,450 193,210 2,042 13,874 220,576
Additions - 23,500 - - 23,500
Disposals - ( 11,750) - - ( 11,750)
_______ _______ _______ _______ _______
At 30 June 2023 11,450 204,960 2,042 13,874 232,326
At 1 July 2022 and 30 June 2023 11,450 204,960 2,042 13,874 232,326
_______ _______ _______ _______ _______
Depreciation
At 1 July 2022 2,450 38,685 408 7,995 49,538
Charge for the year 490 10,498 335 1,113 12,436
Disposals - ( 1,664) - - ( 1,664)
_______ _______ _______ _______ _______
At 30 June 2023 2,940 47,519 743 9,108 60,310
_______ _______ _______ _______ _______
Carrying amount
At 30 June 2023 8,510 157,441 1,299 4,766 172,016
_______ _______ _______ _______ _______
At 30 June 2022 9,000 154,525 1,634 5,879 171,038
_______ _______ _______ _______ _______
7. Debtors
2023 2022
£ £
Other debtors 2,327 4,539
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Corporation tax - 1,593
Other creditors 209,770 201,207
_______ _______
209,770 202,800
_______ _______
9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 3,049 6,787
_______ _______