Cliffe Farms Limited 06457050 false 2022-12-19 2023-12-18 2023-12-18 The principal activity of the company is farming Digita Accounts Production Advanced 6.30.9574.0 true true 06457050 2022-12-19 2023-12-18 06457050 2023-12-18 06457050 bus:Director2 2023-12-18 06457050 bus:OrdinaryShareClass1 2023-12-18 06457050 core:RetainedEarningsAccumulatedLosses 2023-12-18 06457050 core:ShareCapital 2023-12-18 06457050 core:CurrentFinancialInstruments 2023-12-18 06457050 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-18 06457050 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-18 06457050 core:FurnitureFittingsToolsEquipment 2023-12-18 06457050 core:LandBuildings 2023-12-18 06457050 core:OtherPropertyPlantEquipment 2023-12-18 06457050 bus:SmallEntities 2022-12-19 2023-12-18 06457050 bus:AuditExemptWithAccountantsReport 2022-12-19 2023-12-18 06457050 bus:FullAccounts 2022-12-19 2023-12-18 06457050 bus:SmallCompaniesRegimeForAccounts 2022-12-19 2023-12-18 06457050 bus:RegisteredOffice 2022-12-19 2023-12-18 06457050 bus:CompanySecretary1 2022-12-19 2023-12-18 06457050 bus:Director1 2022-12-19 2023-12-18 06457050 bus:Director2 2022-12-19 2023-12-18 06457050 bus:Director4 2022-12-19 2023-12-18 06457050 bus:OrdinaryShareClass1 2022-12-19 2023-12-18 06457050 bus:PrivateLimitedCompanyLtd 2022-12-19 2023-12-18 06457050 bus:Agent1 2022-12-19 2023-12-18 06457050 core:RetainedEarningsAccumulatedLosses 2022-12-19 2023-12-18 06457050 core:ShareCapital 2022-12-19 2023-12-18 06457050 core:FurnitureFittings 2022-12-19 2023-12-18 06457050 core:FurnitureFittingsToolsEquipment 2022-12-19 2023-12-18 06457050 core:LandBuildings 2022-12-19 2023-12-18 06457050 core:OfficeEquipment 2022-12-19 2023-12-18 06457050 core:OtherPropertyPlantEquipment 2022-12-19 2023-12-18 06457050 core:PlantMachinery 2022-12-19 2023-12-18 06457050 countries:England 2022-12-19 2023-12-18 06457050 2022-12-18 06457050 core:RetainedEarningsAccumulatedLosses 2022-12-18 06457050 core:ShareCapital 2022-12-18 06457050 core:FurnitureFittingsToolsEquipment 2022-12-18 06457050 core:LandBuildings 2022-12-18 06457050 core:OtherPropertyPlantEquipment 2022-12-18 06457050 2021-12-19 2022-12-18 06457050 2022-12-18 06457050 bus:OrdinaryShareClass1 2022-12-18 06457050 core:RetainedEarningsAccumulatedLosses 2022-12-18 06457050 core:ShareCapital 2022-12-18 06457050 core:CurrentFinancialInstruments 2022-12-18 06457050 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-18 06457050 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-18 06457050 core:FurnitureFittingsToolsEquipment 2022-12-18 06457050 core:LandBuildings 2022-12-18 06457050 core:OtherPropertyPlantEquipment 2022-12-18 06457050 core:RetainedEarningsAccumulatedLosses 2021-12-19 2022-12-18 06457050 core:ShareCapital 2021-12-19 2022-12-18 06457050 2021-12-18 06457050 core:RetainedEarningsAccumulatedLosses 2021-12-18 06457050 core:ShareCapital 2021-12-18 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06457050

Cliffe Farms Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 18 December 2023

 

Cliffe Farms Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Balance Sheet

4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 9

 

Cliffe Farms Limited

Company Information

Directors

Mr Richard Cliffe

Mr James Richard Cliffe

Mr Geoffrey Thomas Cliffe

Company secretary

Mrs Margaret Ellen Cliffe

Registered office

14 St Owen Street
Hereford
Herefordshire
HR1 2PL

Accountants

Oakleys Professional Limited
14 St Owen Street
Hereford
HR1 2PL

 

Cliffe Farms Limited

Directors' Report for the Year Ended 18 December 2023

The directors present their report and the financial statements for the year ended 18 December 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr Richard Cliffe

Mr James Richard Cliffe (appointed 22 August 2023)

Mr Geoffrey Thomas Cliffe

Principal activity

The principal activity of the company is farming

Small companies provision statement

This report has 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.

Approved by the Board on 6 August 2024 and signed on its behalf by:

.........................................
Mr Richard Cliffe
Director

.........................................
Mr James Richard Cliffe
Director

.........................................
Mr Geoffrey Thomas Cliffe
Director

     
 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Cliffe Farms Limited
for the Year Ended 18 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Cliffe Farms Limited for the year ended 18 December 2023 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

It is your duty to ensure that Cliffe Farms Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Cliffe Farms Limited. You consider that Cliffe Farms Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Cliffe Farms Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Oakleys Professional Limited
14 St Owen Street
Hereford
HR1 2PL

6 August 2024

 

Cliffe Farms Limited

(Registration number: 06457050)
Balance Sheet as at 18 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,061,223

2,278,260

Current assets

 

Debtors

219,119

517,434

Cash at bank and in hand

 

140,018

97,781

 

359,137

615,215

Creditors: Amounts falling due within one year

(457,043)

(499,425)

Net current (liabilities)/assets

 

(97,906)

115,790

Total assets less current liabilities

 

1,963,317

2,394,050

Creditors: Amounts falling due after more than one year

(93,937)

(397,569)

Provisions for liabilities

(100,683)

(138,908)

Net assets

 

1,768,697

1,857,573

Capital and reserves

 

Called up share capital

5

1,000

1,000

Retained earnings

1,767,697

1,856,573

Shareholders' funds

 

1,768,697

1,857,573

For the financial year ending 18 December 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.

Approved and authorised by the Board on 6 August 2024 and signed on its behalf by:
 

.........................................
Mr Richard Cliffe
Director

.........................................
Mr James Richard Cliffe
Director

.........................................
Mr Geoffrey Thomas Cliffe
Director

     
 

Cliffe Farms Limited

Statement of Changes in Equity for the Year Ended 18 December 2023

Share capital
£

Profit and loss account
£

Total
£

At 19 December 2022

1,000

1,856,573

1,857,573

Loss for the year

-

(48,876)

(48,876)

Total comprehensive income

-

(48,876)

(48,876)

Dividends

-

(40,000)

(40,000)

At 18 December 2023

1,000

1,767,697

1,768,697

Share capital
£

Profit and loss account
£

Total
£

At 19 December 2021

1,000

1,504,157

1,505,157

Profit for the year

-

392,416

392,416

Total comprehensive income

-

392,416

392,416

Dividends

-

(40,000)

(40,000)

At 18 December 2022

1,000

1,856,573

1,857,573

 

Cliffe Farms Limited

Notes to the Unaudited Financial Statements for the Year Ended 18 December 2023

1

General information

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

The address of its registered office is:
14 St Owen Street
Hereford
Herefordshire
HR1 2PL
United Kingdom

The principal place of business is:
Broadfields Farm
Pessall
Edingale
Tamworth
Staffordshire
B79 9JW

These financial statements were authorised for issue by the Board on 6 August 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.

Going concern

The financial statements have been prepared on a 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.

 

Cliffe Farms Limited

Notes to the Unaudited Financial Statements for the Year Ended 18 December 2023

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.

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

Plant & machinery

10% reducing balance

Equipment, fixtures & fittings

25% reducing balance

Solar system

5% 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.

Trade 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

The directors have chosen the fair value model basis for the valuation of biological assets under FRS 102.

 

Cliffe Farms Limited

Notes to the Unaudited Financial Statements for the Year Ended 18 December 2023

Trade creditors

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

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 3).

 

Cliffe Farms Limited

Notes to the Unaudited Financial Statements for the Year Ended 18 December 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 19 December 2022

1,459,102

20,952

1,592,640

3,072,694

Additions

-

690

22,075

22,765

Disposals

-

-

(132,230)

(132,230)

At 18 December 2023

1,459,102

21,642

1,482,485

2,963,229

Depreciation

At 19 December 2022

-

5,550

788,884

794,434

Charge for the year

-

943

191,205

192,148

Eliminated on disposal

-

-

(84,576)

(84,576)

At 18 December 2023

-

6,493

895,513

902,006

Carrying amount

At 18 December 2023

1,459,102

15,149

586,972

2,061,223

At 18 December 2022

1,459,102

15,402

803,756

2,278,260

Included within the net book value of land and buildings above is £1,459,102 (2022 - £1,459,102) in respect of freehold land and buildings.
 

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000