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REGISTERED NUMBER: 02547321 (England and Wales)















BAGGRAVE FARMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






BAGGRAVE FARMS LIMITED (REGISTERED NUMBER: 02547321)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


BAGGRAVE FARMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: V A Earnshaw
Ms C Edwards





REGISTERED OFFICE: Baggrave Estate
Hungarton
Leicester
LE7 9JB





REGISTERED NUMBER: 02547321 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 London Road
Newark
Nottinghamshire
NG24 1TW

BAGGRAVE FARMS LIMITED (REGISTERED NUMBER: 02547321)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 756,615 486,525
756,615 486,525

CURRENT ASSETS
Inventories 140,488 206,560
Debtors 6 169,168 144,538
Cash at bank 105,260 151,230
414,916 502,328
CREDITORS
Amounts falling due within one year 7 259,560 125,852
NET CURRENT ASSETS 155,356 376,476
TOTAL ASSETS LESS CURRENT LIABILITIES 911,971 863,001

CREDITORS
Amounts falling due after more than one year 8 3,199,244 3,208,568
NET LIABILITIES (2,287,273 ) (2,345,567 )

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings (2,287,275 ) (2,345,569 )
SHAREHOLDERS' FUNDS (2,287,273 ) (2,345,567 )

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.

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 17 July 2024 and were signed on its behalf by:




V A Earnshaw - Director


BAGGRAVE FARMS LIMITED (REGISTERED NUMBER: 02547321)

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

1. STATUTORY INFORMATION

Baggrave 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. 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.

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

Entitlements
Intangible assets consist of entitlements to the basic payment. The entitlements are recognised at fair value and written off on a straight line basis over the period to 31 December 2019 when the scheme ended.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Inventories
Inventories are valued at the lower of cost and fair value less costs to complete and sell, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
The company has net liabilities and the directors have prepared the financial statements on a going concern basis taking into account funding available from the former parent company, Sealyham Investments Limited. Whilst no longer the parent, Sealyham Investments Limited will not demand repayment and will continue to finance the company enabling it to meet its liabilities as they fall due.

Basic payment
The Basic payment is recognised in the financial statements in accordance with the current H. M. Revenue & Customs guidance

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

BAGGRAVE FARMS LIMITED (REGISTERED NUMBER: 02547321)

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 91,149
AMORTISATION
At 1 January 2023
and 31 December 2023 91,149
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 January 2023 653,286
Additions 275,774
At 31 December 2023 929,060
DEPRECIATION
At 1 January 2023 166,761
Charge for year 5,684
At 31 December 2023 172,445
NET BOOK VALUE
At 31 December 2023 756,615
At 31 December 2022 486,525

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 144,453 126,114
Other debtors 24,715 18,424
169,168 144,538

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 119,246 50,481
Taxation and social security 12,384 7,531
Other creditors 127,930 67,840
259,560 125,852

BAGGRAVE FARMS LIMITED (REGISTERED NUMBER: 02547321)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 3,199,244 3,208,568

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 ordinary £2 2 2

10. RELATED PARTY DISCLOSURES

The company rents land and property from the shareholder Mrs C Edwards for nil consideration.