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REGISTERED NUMBER: 01392505 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Herons Farm Limited

Herons Farm Limited (Registered number: 01392505)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Herons Farm Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: Mr G Perry





SECRETARY: Mrs H Perry





REGISTERED OFFICE: Herons Farm
Herons Lane
Fyfield
Ongar
Essex
CM5 0RQ





REGISTERED NUMBER: 01392505 (England and Wales)





ACCOUNTANTS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

Herons Farm Limited (Registered number: 01392505)

Abridged Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,639,208 3,094,885

CURRENT ASSETS
Stocks 1,680,335 1,631,745
Debtors 374,567 209,969
Cash at bank 20,287 30,636
2,075,189 1,872,350
CREDITORS
Amounts falling due within one year 554,611 613,049
NET CURRENT ASSETS 1,520,578 1,259,301
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,159,786

4,354,186

CREDITORS
Amounts falling due after more than one
year

5

(2,556,510

)

(1,094,753

)

PROVISIONS FOR LIABILITIES 7 (34,097 ) (31,452 )
NET ASSETS 3,569,179 3,227,981

CAPITAL AND RESERVES
Called up share 8 1,000,098 1,000,098
Retained earnings 2,569,081 2,227,883
SHAREHOLDERS' FUNDS 3,569,179 3,227,981

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Herons Farm Limited (Registered number: 01392505)

Abridged Balance Sheet - continued
31 October 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 May 2024 and were signed by:





Mr G Perry - Director


Herons Farm Limited (Registered number: 01392505)

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

1. STATUTORY INFORMATION

Herons Farm Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of arable crops and trailers, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold propertyNot depreciated
Improvements to propertyStraight line over 20 years
Plant and machinery20% on reducing balance
Motor vehicles25% on reducing balance
Computer equipment33% on reducing balance

Stocks
Included in stock is £540,593 (2022: £624,233) of biological assets for the valuation of growing and harvested crops. These are valued at the lower of cost and net realisable value less costs to sell after making due allowance for obsolete or slow moving items. The same basis has been used to value the remainder of stock.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 7 ) .

Herons Farm Limited (Registered number: 01392505)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2022 4,710,332
Additions 1,617,789
Disposals (18,392 )
At 31 October 2023 6,309,729
DEPRECIATION
At 1 November 2022 1,615,447
Charge for year 55,074
At 31 October 2023 1,670,521
NET BOOK VALUE
At 31 October 2023 4,639,208
At 31 October 2022 3,094,885

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31.10.23 31.10.22
£    £   
Repayable by instalments
Bank loans 2,556,510 1,094,753

6. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Bank loans 74,000 90,944

The bank loan is secured on a fixed and floating charge over the assets of the company and the hire purchase contract is secured against the asset concerned.

7. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax 34,097 31,452

Deferred
tax
£   
Balance at 1 November 2022 31,452
Charge to Income Statement during year 2,645
Balance at 31 October 2023 34,097

Herons Farm Limited (Registered number: 01392505)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

8. CALLED UP SHARE

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
1,000,098 Ordinary £1.00 1,000,098 1,000,098