Crokers Grange Farm Limited 12952831 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is Farming Digita Accounts Production Advanced 6.30.9574.0 true true 12952831 2022-11-01 2023-10-31 12952831 2023-10-31 12952831 bus:Director1 1 2023-10-31 12952831 bus:Director2 1 2023-10-31 12952831 core:RetainedEarningsAccumulatedLosses 2023-10-31 12952831 core:ShareCapital 2023-10-31 12952831 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-10-31 12952831 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-10-31 12952831 core:CurrentFinancialInstruments 2023-10-31 12952831 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 12952831 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 12952831 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-31 12952831 core:MotorVehicles 2023-10-31 12952831 core:PlantMachinery 2023-10-31 12952831 bus:SmallEntities 2022-11-01 2023-10-31 12952831 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 12952831 bus:FullAccounts 2022-11-01 2023-10-31 12952831 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 12952831 bus:RegisteredOffice 2022-11-01 2023-10-31 12952831 bus:Director1 2022-11-01 2023-10-31 12952831 bus:Director1 1 2022-11-01 2023-10-31 12952831 bus:Director2 2022-11-01 2023-10-31 12952831 bus:Director2 1 2022-11-01 2023-10-31 12952831 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 12952831 core:LandBuildings 2022-11-01 2023-10-31 12952831 core:LandBuildings core:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 12952831 core:MotorVehicles 2022-11-01 2023-10-31 12952831 core:PlantMachinery 2022-11-01 2023-10-31 12952831 countries:EnglandWales 2022-11-01 2023-10-31 12952831 2022-10-31 12952831 bus:Director1 1 2022-10-31 12952831 bus:Director2 1 2022-10-31 12952831 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-31 12952831 core:MotorVehicles 2022-10-31 12952831 core:PlantMachinery 2022-10-31 12952831 2021-11-01 2022-10-31 12952831 2022-10-31 12952831 bus:Director1 1 2022-10-31 12952831 bus:Director2 1 2022-10-31 12952831 core:RetainedEarningsAccumulatedLosses 2022-10-31 12952831 core:ShareCapital 2022-10-31 12952831 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-10-31 12952831 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-10-31 12952831 core:CurrentFinancialInstruments 2022-10-31 12952831 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 12952831 core:Non-currentFinancialInstruments core:AfterOneYear 2022-10-31 12952831 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-31 12952831 core:MotorVehicles 2022-10-31 12952831 core:PlantMachinery 2022-10-31 12952831 bus:Director1 1 2021-11-01 2022-10-31 12952831 bus:Director2 1 2021-11-01 2022-10-31 12952831 bus:Director1 1 2021-10-31 12952831 bus:Director2 1 2021-10-31 iso4217:GBP xbrli:pure

Registration number: 12952831

Crokers Grange Farm Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Crokers Grange Farm Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Crokers Grange Farm Limited

(Registration number: 12952831)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

913,664

838,782

Current assets

 

Stocks

5

810,150

728,282

Debtors

6

72,508

141,695

Cash at bank and in hand

 

47,447

17,115

 

930,105

887,092

Creditors: Amounts falling due within one year

7

(1,563,648)

(1,481,383)

Net current liabilities

 

(633,543)

(594,291)

Total assets less current liabilities

 

280,121

244,491

Creditors: Amounts falling due after more than one year

7

(73,771)

(57,198)

Provisions for liabilities

(41,965)

(22,290)

Net assets

 

164,385

165,003

Capital and reserves

 

Called up share capital

250

250

Profit and loss account

164,135

164,753

Total equity

 

164,385

165,003

 

Crokers Grange Farm Limited

(Registration number: 12952831)
Balance Sheet as at 31 October 2023

For the financial year ending 31 October 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 July 2024 and signed on its behalf by:
 

Mr M D Tewson
Director

   
     
 

Crokers Grange Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Wrigwell Cross
Ipplepen
Newton Abbot
Devon
TQ12 5UB

These financial statements were authorised for issue by the Board on 29 July 2024.

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.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern

The directors have reviewed anticipated income and associated costs for the next twelve months and following this review consider that the company has adequate resources in place to continue trading for the next twelve months. The accounts have therefore been prepared on the going concern basis.

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.

 

Crokers Grange Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

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.

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

Land and Buildings

5% and 10% straight line

Plant and machinery

20% reducing balance

Motor vehicles

20% reducing balance

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.

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 valued either at the lower of cost and net realisable value or deemed cost and net realisable value. Cost is determined using the first-in, first-out (FIFO) method.

 

Crokers Grange Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Crokers Grange Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 4 (2022 - 2).

4

Tangible assets

Freehold land and buildings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2022

425,071

514,352

29,583

969,006

Additions

140,117

95,055

-

235,172

Disposals

-

(34,213)

-

(34,213)

At 31 October 2023

565,188

575,194

29,583

1,169,965

Depreciation

At 1 November 2022

32,314

94,459

3,451

130,224

Charge for the year

41,433

89,630

5,226

136,289

Eliminated on disposal

-

(10,212)

-

(10,212)

At 31 October 2023

73,747

173,877

8,677

256,301

Carrying amount

At 31 October 2023

491,441

401,317

20,906

913,664

At 31 October 2022

392,757

419,893

26,132

838,782

Included within the net book value of land and buildings above is £491,441 (2022 - £392,757) in respect of freehold land and buildings and £Nil (2022 - £Nil) in respect of short leasehold land and buildings.
 

5

Stocks

2023
£

2022
£

Other inventories

810,150

728,282

 

Crokers Grange Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

6

Debtors

2023
£

2022
£

Trade debtors

40,025

77,722

Prepayments

3,101

14,417

Other debtors

29,382

49,556

72,508

141,695

7

Creditors

Due within one year

Note

2023
£

2022
£

 

Loans and borrowings

8

32,522

29,089

Trade creditors

 

75,122

82,993

Amounts due to related parties

9

14,180

29,620

Social security and other taxes

 

1,774

-

Other creditors

 

1,432,111

1,236,181

Accruals

 

7,939

3,500

Deferred income

 

-

100,000

 

1,563,648

1,481,383

Due after one year

 

Loans and borrowings

8

73,771

57,198

Creditors due within one year include obligations under hire purchase contracts which are secured of £32,522 (2022: £29,089).

Creditors due after one year include obligations under hire purchase contracts which are secured of £73,771 (2022: £57,198).

 

Crokers Grange Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

73,771

57,198

2023
£

2022
£

Current loans and borrowings

Hire purchase contracts

32,522

29,089

9

Related party transactions

Transactions with directors

2023

At 1 November 2022
£

Advances to director
£

Repayments by director
£

At 31 October 2023
£

Mr M D Tewson

Director's Loan Account

(5,884)

32,444

(40,000)

(13,440)

         
       

Mr N Tewson

Director's Loan Account

(23,736)

26,340

(3,346)

(742)

         
       

 

2022

At 1 November 2021
£

Advances to director
£

Repayments by director
£

At 31 October 2022
£

Mr M D Tewson

Director's Loan Account

55,904

17,462

(79,250)

(5,884)

         
       

Mr N Tewson

Director's Loan Account

97

4,167

(28,000)

(23,736)