Butt Hatch Farm Limited
Registered number: 00503403
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 775,315 708,118
Current assets
Stocks 178,831 184,429
Debtors 4 32,803 32,744
Cash at bank and in hand 669,094 595,350
880,728 812,523
Creditors: amounts falling due within one year 5 (62,860) (91,882)
Net current assets 817,868 720,641
Total assets less current liabilities 1,593,183 1,428,759
Creditors: amounts falling due after more than one year 6 (36,435) (18,435)
Provisions for liabilities (47,106) (34,889)
Net assets 1,509,642 1,375,435
Capital and reserves
Called up share capital 335 335
Capital redemption reserve 665 665
Share premium 19,000 19,000
Profit and loss account 1,489,642 1,355,435
Shareholders' funds 1,509,642 1,375,435
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N Harrington
Director
Approved by the board on 30 July 2024
Butt Hatch Farm Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 526,603 716,395 1,242,998
Additions - 128,291 128,291
Disposals - (182,204) (182,204)
At 31 December 2023 526,603 662,482 1,189,085
Depreciation
At 1 January 2023 2,110 532,770 534,880
Charge for the year - 49,210 49,210
On disposals - (170,320) (170,320)
At 31 December 2023 2,110 411,660 413,770
Net book value
At 31 December 2023 524,493 250,822 775,315
At 31 December 2022 524,493 183,625 708,118
4 Debtors 2023 2022
£ £
Trade debtors 14,484 -
Other debtors 18,319 32,744
32,803 32,744
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 33,511 18,435
Trade creditors 5,094 47,501
Corporation tax 22,145 23,797
Other creditors 2,110 2,149
62,860 91,882
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 36,435 18,435
7 Other information
Butt Hatch Farm Limited is a private company limited by shares and incorporated in England. Its registered office is:
Butt Hatch Farm
Radley Green Road
Roxwell
Essex
CM1 4NW
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