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Company Registration No. NI054181 (Northern Ireland)
Hillkirk Farms Ltd Unaudited accounts for the year ended 31 March 2024
Hillkirk Farms Ltd Unaudited accounts Contents
Page
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Hillkirk Farms Ltd Company Information for the year ended 31 March 2024
Directors
Brian Kirkland Jennifer Kirkland
Company Number
NI054181 (Northern Ireland)
Registered Office
1 Church Street Fintona Omagh Tyrone BT78 2BR Northern Ireland
Accountants
A D Pottie & Co Ltd 1 Church Street Fintona Tyrone BT78 2BR
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Hillkirk Farms Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,565,560 
2,359,344 
Current assets
Inventories
250,964 
212,422 
Debtors
201,625 
217,382 
Cash at bank and in hand
155,569 
325 
608,158 
430,129 
Creditors: amounts falling due within one year
(530,284)
(541,052)
Net current assets/(liabilities)
77,874 
(110,923)
Total assets less current liabilities
2,643,434 
2,248,421 
Creditors: amounts falling due after more than one year
(864,237)
(998,080)
Provisions for liabilities
Deferred tax
(87,780)
(87,780)
Net assets
1,691,417 
1,162,561 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
1,690,417 
1,161,561 
Shareholders' funds
1,691,417 
1,162,561 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 June 2024 and were signed on its behalf by
Brian Kirkland Director Company Registration No. NI054181
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Hillkirk Farms Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Hillkirk Farms Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI054181. The registered office is 1 Church Street, Fintona, Omagh, Tyrone, BT78 2BR, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Freehold - Over 50 Years. Leasehold - Over Lease Term
Plant & machinery
10% Straight Line
Fixtures & fittings
10% Straight Line
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Hillkirk Farms Ltd Notes to the Accounts for the year ended 31 March 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
2,250,489 
1,710,460 
4,250 
3,965,199 
Additions
- 
278,451 
1,742 
280,193 
Disposals
- 
(16,000)
- 
(16,000)
At 31 March 2024
2,250,489 
1,972,911 
5,992 
4,229,392 
Depreciation
At 1 April 2023
259,746 
1,345,684 
425 
1,605,855 
Charge for the year
- 
65,978 
599 
66,577 
On disposals
- 
(8,600)
- 
(8,600)
At 31 March 2024
259,746 
1,403,062 
1,024 
1,663,832 
Net book value
At 31 March 2024
1,990,743 
569,849 
4,968 
2,565,560 
At 31 March 2023
1,990,743 
364,776 
3,825 
2,359,344 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
12,460 
4,660 
Trade debtors
189,165 
207,547 
Other debtors
- 
5,175 
201,625 
217,382 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
108,706 
195,081 
Obligations under finance leases and hire purchase contracts
60,198 
- 
Trade creditors
173,191 
169,175 
Taxes and social security
118,730 
26,331 
Other creditors
209 
- 
Loans from directors
69,250 
150,465 
530,284 
541,052 
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Hillkirk Farms Ltd Notes to the Accounts for the year ended 31 March 2024
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
724,650 
884,764 
Obligations under finance leases and hire purchase contracts
139,587 
113,316 
864,237 
998,080 
8
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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