IRIS Accounts Production v24.1.9.2 00620464 Board of Directors Board of Directors 6.4.23 5.4.24 5.4.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh006204642023-04-05006204642024-04-05006204642023-04-062024-04-05006204642022-04-05006204642022-04-062023-04-05006204642023-04-0500620464ns15:EnglandWales2023-04-062024-04-0500620464ns14:PoundSterling2023-04-062024-04-0500620464ns10:Director12023-04-062024-04-0500620464ns10:Director22023-04-062024-04-0500620464ns10:PrivateLimitedCompanyLtd2023-04-062024-04-0500620464ns10:SmallEntities2023-04-062024-04-0500620464ns10:AuditExempt-NoAccountantsReport2023-04-062024-04-0500620464ns10:SmallCompaniesRegimeForDirectorsReport2023-04-062024-04-0500620464ns10:SmallCompaniesRegimeForAccounts2023-04-062024-04-0500620464ns10:FullAccounts2023-04-062024-04-0500620464ns10:OrdinaryShareClass12023-04-062024-04-0500620464ns10:CompanySecretary12023-04-062024-04-0500620464ns10:RegisteredOffice2023-04-062024-04-0500620464ns5:CurrentFinancialInstruments2024-04-0500620464ns5:CurrentFinancialInstruments2023-04-0500620464ns5:ShareCapital2024-04-0500620464ns5:ShareCapital2023-04-0500620464ns5:RetainedEarningsAccumulatedLosses2024-04-0500620464ns5:RetainedEarningsAccumulatedLosses2023-04-050062046412023-04-062024-04-0500620464ns5:LongLeaseholdAssetsns5:LandBuildings2023-04-062024-04-0500620464ns5:PlantMachinery2023-04-062024-04-0500620464ns5:MotorVehicles2023-04-062024-04-0500620464ns5:LongLeaseholdAssetsns5:LandBuildings2023-04-0500620464ns5:PlantMachinery2023-04-0500620464ns5:MotorVehicles2023-04-0500620464ns5:LongLeaseholdAssetsns5:LandBuildings2024-04-0500620464ns5:PlantMachinery2024-04-0500620464ns5:MotorVehicles2024-04-0500620464ns5:LongLeaseholdAssetsns5:LandBuildings2023-04-0500620464ns5:PlantMachinery2023-04-0500620464ns5:MotorVehicles2023-04-0500620464ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-0500620464ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-0500620464ns10:OrdinaryShareClass12024-04-05
REGISTERED NUMBER: 00620464 (England and Wales)















Unaudited Financial Statements for the Year Ended 5 April 2024

for

E.W. Groves Farms Limited

E.W. Groves Farms Limited (Registered number: 00620464)

Contents of the Financial Statements
for the Year Ended 5 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


E.W. Groves Farms Limited

Company Information
for the Year Ended 5 April 2024







Directors: Mr J Groves
Mr D Groves





Secretary: Mr J Groves





Registered office: North Farm
Ferry Road
West Lynn
King's Lynn
Norfolk
PE34 3NE





Registered number: 00620464 (England and Wales)





Accountants: Stephenson Smart (East Anglia) Limited
Chartered Accountants
22-26 King Street
King's Lynn
Norfolk
PE30 1HJ

E.W. Groves Farms Limited (Registered number: 00620464)

Balance Sheet
5 April 2024

5.4.24 5.4.23
Notes £ £
Fixed assets
Tangible assets 5 - 109,737

Current assets
Stocks 1,500 141,790
Debtors 6 26,228 37,157
Cash at bank 338,434 31,715
366,162 210,662
Creditors
Amounts falling due within one year 7 (122,280 ) (126,086 )
Net current assets 243,882 84,576
Total assets less current liabilities 243,882 194,313

Provisions for liabilities - (8,750 )
Net assets 243,882 185,563

Capital and reserves
Called up share capital 8 3,000 3,000
Retained earnings 9 240,882 182,563
Shareholders' funds 243,882 185,563

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2024 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.

E.W. Groves Farms Limited (Registered number: 00620464)

Balance Sheet - continued
5 April 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 August 2024 and were signed on its behalf by:




Mr J Groves - Director



Mr D Groves - Director


E.W. Groves Farms Limited (Registered number: 00620464)

Notes to the Financial Statements
for the Year Ended 5 April 2024


1. Statutory information

E.W. Groves Farms 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. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The company ceased farming operations in September 2023. The directors consider that the company has adequate resources to continue in operational existence for the foreseeable future and accordingly these financial statements have been prepared on the going concern basis, which is not considered to be materially different from the position under a break-up basis of preparation.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant effect upon the figures reported in the financial statements are in respect of the rates applied for depreciation, as described below.

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

Turnover is recognised when produce is delivered or collected.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 2% straight line
Plant and machinery - 15% p.a. reducing balance
Motor vehicles - 25% p.a. reducing balance

Tangible fixed assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation and impairment losses.

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

E.W. Groves Farms Limited (Registered number: 00620464)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024


3. Accounting policies - continued

Financial instruments
The company classifies its financial instruments in the following categories: measured at amortised cost; and measured at fair value through profit and loss. The classification is determined at initial recognition and depends on the purpose for which the financial instruments are required.

Measured at amortised cost includes non-derivative financial assets and liabilities with fixed or determinable payments that are not quoted in an active market. Financial assets are included in current assets, except where the maturity date is more than 12 months after the end of the reporting period. They are initially recorded at fair value and subsequently recorded at amortised cost. Financial liabilities are included in current liabilities, except where the maturity date is more than 12 months after the end of the reporting period. They are initially measured at original cost, less amortisation or provisions raised.

Measured at fair value through profit and loss includes financial assets and liabilities. They are classified according to maturity date, within current and non-current assets and liabilities respectively.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

4. Employees and directors

The average number of employees during the year was 3 (2023 - 3 ) .

E.W. Groves Farms Limited (Registered number: 00620464)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024


5. Tangible fixed assets
Long Plant and Motor
leasehold machinery vehicles Totals
£ £ £ £
Cost
At 6 April 2023 74,265 416,942 13,723 504,930
Disposals (74,265 ) (416,942 ) (13,723 ) (504,930 )
At 5 April 2024 - - - -
Depreciation
At 6 April 2023 51,673 330,758 12,762 395,193
Eliminated on disposal (51,673 ) (330,758 ) (12,762 ) (395,193 )
At 5 April 2024 - - - -
Net book value
At 5 April 2024 - - - -
At 5 April 2023 22,592 86,184 961 109,737

6. Debtors: amounts falling due within one year
5.4.24 5.4.23
£ £
Trade debtors 22,328 18,951
Other debtors 3,900 18,206
26,228 37,157

7. Creditors: amounts falling due within one year
5.4.24 5.4.23
£ £
Trade creditors 271 21,535
Taxation and social security 114,965 24
Other creditors 7,044 104,527
122,280 126,086

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 5.4.24 5.4.23
value: £ £
3,000 Ordinary £1 3,000 3,000

9. Reserves

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.