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REGISTERED NUMBER: 03287087 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Dawe Estates Limited

Dawe Estates Limited (Registered number: 03287087)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Dawe Estates Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Dr P J Dawe
Mrs S J Dawe





REGISTERED OFFICE: Manor Farm
Willow Corner
Carbrooke
Thetford
Norfolk
IP25 6SS





REGISTERED NUMBER: 03287087 (England and Wales)





ACCOUNTANTS: Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Dawe Estates Limited (Registered number: 03287087)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,612,612 6,612,915
Investments 5 328,253 328,253
Investment property 6 450,000 450,000
7,390,865 7,391,168

CURRENT ASSETS
Stocks 847,942 816,275
Debtors 7 888,307 999,635
Cash at bank 30,185 -
1,766,434 1,815,910
CREDITORS
Amounts falling due within one year 8 494,699 519,026
NET CURRENT ASSETS 1,271,735 1,296,884
TOTAL ASSETS LESS CURRENT LIABILITIES 8,662,600 8,688,052

CREDITORS
Amounts falling due after more than one
year

9

(373,619

)

(451,802

)

PROVISIONS FOR LIABILITIES 11 (328,051 ) (229,035 )
NET ASSETS 7,960,930 8,007,215

CAPITAL AND RESERVES
Called up share capital 12 6,000,000 6,000,000
Fair value reserve 13 124,327 124,327
Retained earnings 1,836,603 1,882,888
SHAREHOLDERS' FUNDS 7,960,930 8,007,215

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Dawe Estates Limited (Registered number: 03287087)

Balance Sheet - continued
30 November 2023


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 14 August 2024 and were signed on its behalf by:





Dr P J Dawe - Director


Dawe Estates Limited (Registered number: 03287087)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Dawe Estates 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 comprises the fair value of the consideration received or receivable for the sale of goods and livestock 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 the future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2%-10% straight line
Plant and machinery - 10 - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 30% on reducing balance

Freehold land is not depreciated.

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

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.

The cost of cultivations and harvested crops comprises direct materials, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Dawe Estates Limited (Registered number: 03287087)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Dawe Estates Limited (Registered number: 03287087)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Impairment
At each reporting date, fixed assets, including tangible fixed assets, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2022 6,009,936 2,096,304 8,106,240
Additions 233,172 57,640 290,812
Disposals (93,462 ) (31,765 ) (125,227 )
At 30 November 2023 6,149,646 2,122,179 8,271,825
DEPRECIATION
At 1 December 2022 398,791 1,094,534 1,493,325
Charge for year 32,983 162,780 195,763
Eliminated on disposal (347 ) (29,528 ) (29,875 )
At 30 November 2023 431,427 1,227,786 1,659,213
NET BOOK VALUE
At 30 November 2023 5,718,219 894,393 6,612,612
At 30 November 2022 5,611,145 1,001,770 6,612,915

£4,610,984 is Freehold land and buildings that is not depreciated (2022: £4,620,129).

Dawe Estates Limited (Registered number: 03287087)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 December 2022 210,500
Transfer to ownership (210,500 )
At 30 November 2023 -
DEPRECIATION
At 1 December 2022 75,780
Transfer to ownership (75,780 )
At 30 November 2023 -
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 134,720

5. FIXED ASSET INVESTMENTS
Shares in Investment
group in Other
undertakings associate investments Totals
£    £    £    £   
COST
At 1 December 2022
and 30 November 2023 1 328,250 2 328,253
NET BOOK VALUE
At 30 November 2023 1 328,250 2 328,253
At 30 November 2022 1 328,250 2 328,253

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 450,000
NET BOOK VALUE
At 30 November 2023 450,000
At 30 November 2022 450,000

Dawe Estates Limited (Registered number: 03287087)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. INVESTMENT PROPERTY - continued

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2023 450,000

The investment properties are stated at market value based on a valuation dated 25 March 2021, carried out by Brown & Co. who are specialist land agents. The directors consider the year end valuation does not vary materially from this.

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 16,820 61,487
Other debtors 846,487 910,045
863,307 971,532

Amounts falling due after more than one year:
Other debtors 25,000 28,103

Aggregate amounts 888,307 999,635

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 80,000 226,294
Hire purchase contracts - 49,811
Trade creditors 42,500 131,717
Taxation and social security 4,489 -
Other creditors 367,710 111,204
494,699 519,026

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 373,619 451,802

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 53,619 131,802

Dawe Estates Limited (Registered number: 03287087)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 146,294
Bank loans 453,619 531,802
Hire purchase contracts - 49,811
453,619 727,907

The hire purchase contracts are secured on the underlying assets. The bank overdraft and bank loan are secured on freehold property.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Other timing differences 9,157 6,960
Accelerated capital allowances 318,894 222,075
328,051 229,035

Deferred
tax
£   
Balance at 1 December 2022 229,035
Provided during year 99,016
Balance at 30 November 2023 328,051

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
6,000,000 Ordinary £1 6,000,000 6,000,000

13. RESERVES

The fair value reserve is non distributable.

14. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements 99,154 -