Company No:
Contents
DIRECTORS | Mr C P Bloomer |
Mr J F Bloomer | |
Mr C A Bloomer |
SECRETARY | Mr J F Bloomer |
REGISTERED OFFICE | Hitchcock House |
Hilltop Park | |
Devizes Road | |
Salisbury | |
SP3 4UF | |
United Kingdom |
COMPANY NUMBER | 01945403 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Hitchcock House | |
Hilltop Park | |
Devizes Road | |
Salisbury | |
Wiltshire SP3 4UF |
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 4 |
|
|
|
Investments | 5 |
|
|
|
4,954,377 | 4,910,103 | |||
Current assets | ||||
Stocks |
|
|
||
Debtors | 6 |
|
|
|
Cash at bank and in hand |
|
|
||
4,217,957 | 3,505,259 | |||
Creditors: amounts falling due within one year | 7 | (
|
(
|
|
Net current assets | 2,951,672 | 2,456,772 | ||
Total assets less current liabilities | 7,906,049 | 7,366,875 | ||
Provision for liabilities | (
|
(
|
||
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital |
|
|
||
Profit and loss account |
|
|
||
Total shareholders' funds |
|
|
Directors' responsibilities:
The financial statements of Bybrook Agriculture Limited (registered number:
Mr C A Bloomer
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Bybrook Agriculture Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hitchcock House, Hilltop Park, Devizes Road, Salisbury, SP3 4UF United Kingdom.
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.
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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 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 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.
The current corporation 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
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
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:
Land and buildings |
|
Plant and machinery |
|
Vehicles |
|
Fixtures and fittings |
|
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.
**Classification**
The company holds the following financial instruments:
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.
**Recognition and measurement**
The company has chosen to apply the recognition and measurement principles in FRS102.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
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.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
Entitlements | Total | ||
£ | £ | ||
Cost | |||
At 01 November 2022 |
|
|
|
At 31 October 2023 |
|
|
|
Accumulated amortisation | |||
At 01 November 2022 |
|
|
|
At 31 October 2023 |
|
|
|
Net book value | |||
At 31 October 2023 |
|
|
|
At 31 October 2022 |
|
|
Land and buildings | Plant and machinery | Vehicles | Fixtures and fittings | Total | |||||
£ | £ | £ | £ | £ | |||||
Cost | |||||||||
At 01 November 2022 |
|
|
|
|
|
||||
Additions |
|
|
|
|
|
||||
At 31 October 2023 |
|
|
|
|
|
||||
Accumulated depreciation | |||||||||
At 01 November 2022 |
|
|
|
|
|
||||
Charge for the financial year |
|
|
|
|
|
||||
At 31 October 2023 |
|
|
|
|
|
||||
Net book value | |||||||||
At 31 October 2023 |
|
|
|
|
|
||||
At 31 October 2022 |
|
|
|
|
|
Other investments | Total | ||
£ | £ | ||
Cost or valuation before impairment | |||
At 01 November 2022 |
|
|
|
Movement in fair value |
|
|
|
At 31 October 2023 |
|
|
|
Carrying value at 31 October 2023 |
|
|
|
Carrying value at 31 October 2022 |
|
|
2023 | 2022 | ||
£ | £ | ||
Trade debtors |
|
|
|
Corporation tax |
|
|
|
Other debtors |
|
|
|
|
|
2023 | 2022 | ||
£ | £ | ||
Trade creditors |
|
|
|
Amounts owed to directors |
|
|
|
Accruals and deferred income |
|
|
|
Taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|