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REGISTERED NUMBER: 01274898 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Rolf Park Farm Limited

Rolf Park Farm Limited (Registered number: 01274898)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Rolf Park Farm Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A H Rolf
A R Rolf
Mrs J Rolf





SECRETARY: Mrs J Rolf





REGISTERED OFFICE: Park Farm
Beaulieu
Brockenhurst
Hampshire
SO42 7XL





REGISTERED NUMBER: 01274898 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

Rolf Park Farm Limited (Registered number: 01274898)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 744,785 717,204
Investments 5 282,604 339,804
1,027,389 1,057,008

CURRENT ASSETS
Stocks 264,642 311,346
Debtors 6 111,888 83,992
Cash at bank 159,897 533,319
536,427 928,657
CREDITORS
Amounts falling due within one year 7 157,353 183,844
NET CURRENT ASSETS 379,074 744,813
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,406,463

1,801,821

CREDITORS
Amounts falling due after more than one
year

8

(86,755

)

(21,333

)

PROVISIONS FOR LIABILITIES 11 - (69,880 )
NET ASSETS 1,319,708 1,710,608

CAPITAL AND RESERVES
Called up share capital 12 5,000 5,000
Fair value reserve 13 66,518 117,598
Retained earnings 1,248,190 1,588,010
SHAREHOLDERS' FUNDS 1,319,708 1,710,608

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Rolf Park Farm Limited (Registered number: 01274898)

Balance Sheet - continued
31 March 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 Income Statement 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:





A R Rolf - Director


Rolf Park Farm Limited (Registered number: 01274898)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Rolf Park 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts receivable for goods and services, net of VAT. Crop sales have been adjusted for opening and closing stocks.

Basic Payment Scheme has been recognised as appropriate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 5% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 20% 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.

Biological assets are included at fair value as valued by an independent professional valuer, subject to mature animals which are valued at production cost.

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

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.


Rolf Park Farm Limited (Registered number: 01274898)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, adjusted for indexation where appropriate.

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.

Investments
Listed investments are shown at their fair value.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Land and Plant and Motor
buildings machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023 437,548 1,410,463 39,866 1,887,877
Additions - 336,935 - 336,935
Disposals - (177,931 ) - (177,931 )
At 31 March 2024 437,548 1,569,467 39,866 2,046,881
DEPRECIATION
At 1 April 2023 249,150 891,048 30,475 1,170,673
Charge for year 16,329 188,218 1,278 205,825
Eliminated on disposal - (74,402 ) - (74,402 )
At 31 March 2024 265,479 1,004,864 31,753 1,302,096
NET BOOK VALUE
At 31 March 2024 172,069 564,603 8,113 744,785
At 31 March 2023 188,398 519,415 9,391 717,204

Rolf Park Farm Limited (Registered number: 01274898)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 339,804
Disposals (708 )
Revaluations (56,492 )
At 31 March 2024 282,604
NET BOOK VALUE
At 31 March 2024 282,604
At 31 March 2023 339,804

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2019 113,796
Valuation in 2020 50,687
Valuation in 2021 80,191
Valuation in 2022 (102,309 )
Valuation in 2023 2,818
Valuation in 2024 (56,492 )
Cost 193,913
282,604

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 105,928 8,484
Other debtors 5,960 75,508
111,888 83,992

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts (see note 9) 24,923 12,913
Trade creditors 36,207 54,173
Other creditors 96,223 116,758
157,353 183,844

Rolf Park Farm Limited (Registered number: 01274898)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts (see note 9) 86,755 21,333

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 24,923 12,913
Between one and five years 86,755 21,333
111,678 34,246

The company continues to occupy areas of land that are under the control of A H Rolf and A R Rolf without the benefit of a formal lease. A H Rolf and A R Rolf have agreed to allow the company to use this land for the foreseeable future.

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 111,678 34,246

11. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax - 69,880

Deferred
tax
£   
Balance at 1 April 2023 69,880
Movement in capital allowances 4,433
Movement in investments (5,412 )
Losses utilized (68,901 )
Balance at 31 March 2024 -

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
5,000 Ordinary £1 5,000 5,000

Rolf Park Farm Limited (Registered number: 01274898)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


13. RESERVES
Fair
value
reserve
£   
At 1 April 2023 117,598
Revaluation of investments (51,080 )

At 31 March 2024 66,518