IRIS Accounts Production v24.2.0.383 01252264 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh012522642023-02-28012522642024-02-29012522642023-03-012024-02-29012522642022-02-28012522642022-03-012023-02-28012522642023-02-2801252264ns15:EnglandWales2023-03-012024-02-2901252264ns14:PoundSterling2023-03-012024-02-2901252264ns10:Director12023-03-012024-02-2901252264ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2901252264ns10:SmallEntities2023-03-012024-02-2901252264ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2901252264ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2901252264ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2901252264ns10:AbridgedAccounts2023-03-012024-02-2901252264ns10:OrdinaryShareClass22023-03-012024-02-2901252264ns10:Director22023-03-012024-02-2901252264ns10:RegisteredOffice2023-03-012024-02-2901252264ns5:CurrentFinancialInstruments2024-02-2901252264ns5:CurrentFinancialInstruments2023-02-2801252264ns5:Non-currentFinancialInstruments2024-02-2901252264ns5:Non-currentFinancialInstruments2023-02-2801252264ns5:ShareCapital2024-02-2901252264ns5:ShareCapital2023-02-2801252264ns5:FurtherSpecificReserve1ComponentTotalEquity2024-02-2901252264ns5:FurtherSpecificReserve1ComponentTotalEquity2023-02-2801252264ns5:RetainedEarningsAccumulatedLosses2024-02-2901252264ns5:RetainedEarningsAccumulatedLosses2023-02-2801252264ns5:LongLeaseholdAssetsns5:LandBuildings2023-03-012024-02-2901252264ns5:PlantMachinery2023-03-012024-02-2901252264ns5:FurnitureFittings2023-03-012024-02-2901252264ns5:MotorVehicles2023-03-012024-02-2901252264ns5:ComputerEquipment2023-03-012024-02-2901252264ns10:OrdinaryShareClass22024-02-29
REGISTERED NUMBER: 01252264 (England and Wales)
















Financial Statements for the Year Ended 29 February 2024

for

A.P. Burlton (Farms) Limited

A.P. Burlton (Farms) Limited (Registered number: 01252264)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


A.P. Burlton (Farms) Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr Michael Anthony Burlton
Mr Andrew John Dummett





REGISTERED OFFICE: Valley Farm
1 Station Road
Meldreth
Royston
Hertfordshire
SG8 6JP





REGISTERED NUMBER: 01252264 (England and Wales)





ACCOUNTANTS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

A.P. Burlton (Farms) Limited (Registered number: 01252264)

Abridged Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 356,610 447,930
Investment property 5 3,712,976 -
4,069,586 447,930

CURRENT ASSETS
Stocks 1,000 1,000
Debtors 52,037 164,610
Cash at bank 130,120 280,590
183,157 446,200
CREDITORS
Amounts falling due within one year 202,636 176,875
NET CURRENT (LIABILITIES)/ASSETS (19,479 ) 269,325
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,050,107

717,255

CREDITORS
Amounts falling due after more than one
year

(1,218

)

(12,930

)

PROVISIONS FOR LIABILITIES (786,351 ) (48,092 )
NET ASSETS 3,262,538 656,233

CAPITAL AND RESERVES
Called up share 6 100 100
Non-distributable reserves 2,416,417 -
Retained earnings 846,021 656,133
SHAREHOLDERS' FUNDS 3,262,538 656,233

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

A.P. Burlton (Farms) Limited (Registered number: 01252264)

Abridged Balance Sheet - continued
29 February 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 24 July 2024 and were signed on its behalf by:





Mr Michael Anthony Burlton - Director


A.P. Burlton (Farms) Limited (Registered number: 01252264)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

A.P. Burlton (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 as modified by the revaluation of certain assets.

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

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 - 4% on cost
Plant and machinery - at variable rates on reducing balance
Drainage - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Tractors & combines - 15% on reducing balance

The rates of depreciation on plant and machinery are 8%, 10%, 15% or 20% depending on the estimated useful life of the relevant item.

No depreciation is provided on freehold land.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

A.P. Burlton (Farms) Limited (Registered number: 01252264)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

A.P. Burlton (Farms) Limited (Registered number: 01252264)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Going concern
There is a net current liability as at 29 February 2024 because the company spent a lot of cash in the year on refurbishing investment properties ready to be let out. The directors expect the cash balance to be replenished during the year ended 28 February 2025, when the refurbished properties begin to be let. As such, the accounts have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 2,145,144
Additions 249,224
Reclassification/transfer (568,397 )
At 29 February 2024 1,825,971
DEPRECIATION
At 1 March 2023 1,697,214
Charge for year 53,857
Reclassification/transfer (281,710 )
At 29 February 2024 1,469,361
NET BOOK VALUE
At 29 February 2024 356,610
At 28 February 2023 447,930

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Revaluations 3,144,578
Reclassification/transfer 568,398
At 29 February 2024 3,712,976
DEPRECIATION
Revaluation adjustments (281,710 )
Reclassification/transfer 281,710
At 29 February 2024 -
NET BOOK VALUE
At 29 February 2024 3,712,976

A.P. Burlton (Farms) Limited (Registered number: 01252264)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. INVESTMENT PROPERTY - continued

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2024 3,144,578
Cost 568,398
3,712,976

If investment property had not been revalued it would have been included at the following historical cost:

29.2.24 28.2.23
£    £   
Cost 568,398 -

The directors valued investment property at 29 February 2024 on a price per square foot basis, based on the values of similar let properties in the local area.

6. CALLED UP SHARE

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100

7. RELATED PARTY DISCLOSURES

The company has loaned money to A P Burlton (Turkeys) Limited, a company under common control. The loan balance as at 29 February 2024 is £19,573 (£137,588 in 2023) and no interest has been charged.

The company has borrowed money from Meldreth Farming Partnership. The director-shareholders of A P Burlton (Farms) Limited are partners in Meldreth Farming Partnership. The amount outstanding as at 29 February 2024 is £468 (£468 in 2023) and no interest has been charged.