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REGISTERED NUMBER: 04501456 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

HBH (FARMING) LIMITED

HBH (FARMING) LIMITED (REGISTERED NUMBER: 04501456)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HBH (FARMING) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: E G Hildred
T E Bishop
M R Goodenough





SECRETARY: E G Hildred





REGISTERED OFFICE: Two Brewers House
50 North Street
Thame
Oxfordshire
OX9 3BH





BUSINESS ADDRESS: Icknield Farm
Ipsden
Wallingford
Oxfordshire
OX10 6AS





REGISTERED NUMBER: 04501456 (England and Wales)





ACCOUNTANTS: Martin and Company
Two Brewers House
50 North Street
Thame
Oxfordshire
OX9 3BH

HBH (FARMING) LIMITED (REGISTERED NUMBER: 04501456)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 34,558 39,813
Tangible assets 5 1,632,840 1,366,070
Investments 6 1,275 1,275
1,668,673 1,407,158

CURRENT ASSETS
Stocks 230,268 265,185
Debtors 7 108,747 228,364
Cash at bank 25,424 121,055
364,439 614,604
CREDITORS
Amounts falling due within one year 8 462,293 523,970
NET CURRENT (LIABILITIES)/ASSETS (97,854 ) 90,634
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,570,819

1,497,792

CREDITORS
Amounts falling due after more than one
year

9

(951,840

)

(688,731

)

PROVISIONS FOR LIABILITIES (210,078 ) (189,958 )
NET ASSETS 408,901 619,103

CAPITAL AND RESERVES
Called up share capital 10 80 128
Capital redemption reserve 48 -
Retained earnings 408,773 618,975
SHAREHOLDERS' FUNDS 408,901 619,103

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

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

The directors acknowledge their 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.

HBH (FARMING) LIMITED (REGISTERED NUMBER: 04501456)

BALANCE SHEET - continued
31 DECEMBER 2023


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 27 June 2024 and were signed on its behalf by:




E G Hildred - Director T E Bishop - Director




M R Goodenough - Director


HBH (FARMING) LIMITED (REGISTERED NUMBER: 04501456)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

HBH (Farming) 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Entitlements are being amortised evenly over their estimated useful life of six years.

Assigned tenancies are being amortised evenly over their estimated useful life of fifteen years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - at variable rates on reducing balance
Tractors and combines - at variable rates on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

HBH (FARMING) LIMITED (REGISTERED NUMBER: 04501456)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Assigned
Entitlements tenancies Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 14,431 42,750 57,181
AMORTISATION
At 1 January 2023 2,405 14,963 17,368
Amortisation for year 2,405 2,850 5,255
At 31 December 2023 4,810 17,813 22,623
NET BOOK VALUE
At 31 December 2023 9,621 24,937 34,558
At 31 December 2022 12,026 27,787 39,813

HBH (FARMING) LIMITED (REGISTERED NUMBER: 04501456)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Tractors
Plant and and Motor
machinery combines vehicles Totals
£    £    £    £   
COST
At 1 January 2023 541,912 1,616,230 17,300 2,175,442
Additions 174,413 502,743 30,700 707,856
Disposals (79,120 ) (294,668 ) (2,000 ) (375,788 )
At 31 December 2023 637,205 1,824,305 46,000 2,507,510
DEPRECIATION
At 1 January 2023 327,910 468,279 13,183 809,372
Charge for year 64,964 197,927 6,809 269,700
Eliminated on disposal (61,924 ) (141,251 ) (1,227 ) (204,402 )
At 31 December 2023 330,950 524,955 18,765 874,670
NET BOOK VALUE
At 31 December 2023 306,255 1,299,350 27,235 1,632,840
At 31 December 2022 214,002 1,147,951 4,117 1,366,070

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Tractors
Plant and and Motor
machinery combines vehicles Totals
£    £    £    £   
COST
At 1 January 2023 162,324 1,418,083 - 1,580,407
Additions 94,950 502,743 29,000 626,693
Disposals - (159,668 ) - (159,668 )
At 31 December 2023 257,274 1,761,158 29,000 2,047,432
DEPRECIATION
At 1 January 2023 46,207 337,897 - 384,104
Charge for year 36,937 194,176 5,800 236,913
Eliminated on disposal - (52,579 ) - (52,579 )
At 31 December 2023 83,144 479,494 5,800 568,438
NET BOOK VALUE
At 31 December 2023 174,130 1,281,664 23,200 1,478,994
At 31 December 2022 116,117 1,080,186 - 1,196,303

HBH (FARMING) LIMITED (REGISTERED NUMBER: 04501456)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 1,275
NET BOOK VALUE
At 31 December 2023 1,275
At 31 December 2022 1,275

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 28,966 147,361
Other debtors 75,133 36,066
Prepayments and accrued income 4,648 44,937
108,747 228,364

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 269,964 174,037
Trade creditors 148,024 286,555
Social security and other taxes 5,633 4,259
VAT 3,320 29,859
Other creditors 6,572 3,722
Accrued expenses 18,780 15,538
462,293 523,970

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 15,000 25,000
Loan - The Hildred Partnership 64,167 64,167
Other loans 350,000 150,000
Hire purchase contracts 502,873 426,914
Other creditors 19,800 22,650
951,840 688,731

HBH (FARMING) LIMITED (REGISTERED NUMBER: 04501456)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


10. CALLED UP SHARE CAPITAL

Alloted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £ £
1 Ordinary Shares 1 1 1
8 Ordinary A Shares 1 8 56
71 Ordinary C Shares 1 71 71
80 128

On the 16th November 2023 the company purchased 48 of its own Ordinary A Shares, which were paid for out of the companies distributable reserves. On purchase of the shares they were immediately cancelled in accordance with section 708 of the Companies Act 2006.

11. RELATED PARTY DISCLOSURES

The Hildred Partnership

During the year to 31st December 2023 a loan was outstanding from The Hildred Partnership to the company to assist with working capital requirements. The balance as at 31st December 2023 was £64,167 (2022: £64,167).

The company also charged The Hildred Partnership £237,598 (2022: £225,063) for contract work undertaken and as at 31st December 2023 the balance outstanding was £12,977 - credit balance (2022: £8,726 - debit balance).

E G Hildred
A Director in the company

During the year to 31st December 2023 a loan was outstanding from Mr E G Hildred. The balance as at 31st December 2023 was £350,000 (2022: £150,000).

Mr E G Hildred charged the company interest on this loan of £6,300 (2022: £6,300).

12. ULTIMATE CONTROLLING PARTY

In the opinion of the Board of Directors, the company is controlled by the family members of the The Hildred Partnership.