Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr N L White 06/04/2013 Mr N White 31/12/1997 Mrs R A White 31/12/1997 Norman White Neil Laurence White Rosemary Anne White Norman White 20 August 2024 The principal activity of the company is raising of swine/pigs. 03487674 2023-12-31 03487674 bus:Director1 2023-12-31 03487674 bus:Director2 2023-12-31 03487674 bus:Director3 2023-12-31 03487674 2022-12-31 03487674 core:CurrentFinancialInstruments 2023-12-31 03487674 core:CurrentFinancialInstruments 2022-12-31 03487674 core:Non-currentFinancialInstruments 2023-12-31 03487674 core:Non-currentFinancialInstruments 2022-12-31 03487674 core:ShareCapital 2023-12-31 03487674 core:ShareCapital 2022-12-31 03487674 core:RetainedEarningsAccumulatedLosses 2023-12-31 03487674 core:RetainedEarningsAccumulatedLosses 2022-12-31 03487674 core:OtherResidualIntangibleAssets 2022-12-31 03487674 core:OtherResidualIntangibleAssets 2023-12-31 03487674 core:LandBuildings 2022-12-31 03487674 core:Non-standardPPEClass2ComponentTotalPropertyPlantEquipment 2022-12-31 03487674 core:InvestmentPropertyIncludedWithinPPE 2022-12-31 03487674 core:PlantMachinery 2022-12-31 03487674 core:Vehicles 2022-12-31 03487674 core:FurnitureFittings 2022-12-31 03487674 core:LandBuildings 2023-12-31 03487674 core:Non-standardPPEClass2ComponentTotalPropertyPlantEquipment 2023-12-31 03487674 core:InvestmentPropertyIncludedWithinPPE 2023-12-31 03487674 core:PlantMachinery 2023-12-31 03487674 core:Vehicles 2023-12-31 03487674 core:FurnitureFittings 2023-12-31 03487674 2023-01-01 2023-12-31 03487674 bus:FilletedAccounts 2023-01-01 2023-12-31 03487674 bus:SmallEntities 2023-01-01 2023-12-31 03487674 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03487674 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03487674 bus:Director1 2023-01-01 2023-12-31 03487674 bus:Director2 2023-01-01 2023-12-31 03487674 bus:Director3 2023-01-01 2023-12-31 03487674 bus:Director4 2023-01-01 2023-12-31 03487674 bus:Director5 2023-01-01 2023-12-31 03487674 bus:Director6 2023-01-01 2023-12-31 03487674 bus:Director7 2023-01-01 2023-12-31 03487674 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-01-01 2023-12-31 03487674 core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 03487674 core:LandBuildings core:TopRangeValue 2023-01-01 2023-12-31 03487674 core:Non-standardPPEClass2ComponentTotalPropertyPlantEquipment core:TopRangeValue 2023-01-01 2023-12-31 03487674 core:PlantMachinery 2023-01-01 2023-12-31 03487674 core:PlantMachinery core:TopRangeValue 2023-01-01 2023-12-31 03487674 core:Vehicles 2023-01-01 2023-12-31 03487674 core:FurnitureFittings 2023-01-01 2023-12-31 03487674 2022-01-01 2022-12-31 03487674 core:LandBuildings 2023-01-01 2023-12-31 03487674 core:Non-standardPPEClass2ComponentTotalPropertyPlantEquipment 2023-01-01 2023-12-31 03487674 core:InvestmentPropertyIncludedWithinPPE 2023-01-01 2023-12-31 03487674 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: 03487674 (England and Wales)

EGFORD BACON LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

EGFORD BACON LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

EGFORD BACON LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
EGFORD BACON LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Mr N L White
Mr N White
Mrs R A White
SECRETARY Mrs R A White
REGISTERED OFFICE Hitchcock House Hilltop Park
Devizes Road
Salisbury
SP3 4UF
United Kingdom
COMPANY NUMBER 03487674 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Hitchcock House
Hilltop Park
Devizes Road
Salisbury
Wiltshire SP3 4UF
EGFORD BACON LIMITED

BALANCE SHEET

As at 31 December 2023
EGFORD BACON LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 2,514,429 2,562,126
Investments 1 1
2,514,430 2,562,127
Current assets
Stocks 308,686 298,189
Debtors 5 148,300 157,326
456,986 455,515
Creditors: amounts falling due within one year 6 ( 859,721) ( 954,328)
Net current liabilities (402,735) (498,813)
Total assets less current liabilities 2,111,695 2,063,314
Creditors: amounts falling due after more than one year 7 ( 1,263,513) ( 1,331,459)
Net assets 848,182 731,855
Capital and reserves
Called-up share capital 750,002 750,002
Profit and loss account 98,180 ( 18,147 )
Total shareholders' funds 848,182 731,855

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Egford Bacon Limited (registered number: 03487674) were approved and authorised for issue by the Board of Directors on 20 August 2024. They were signed on its behalf by:

Norman White
Director
Neil Laurence White
Director
Rosemary Anne White
Director
EGFORD BACON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
EGFORD BACON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Egford Bacon Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hitchcock House Hilltop Park, Devizes Road, Salisbury, SP3 4UF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 4 years straight line
Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 25 years straight line
Biological assets 5 years straight line
Investment property not depreciated
Plant and machinery 20 % reducing balance
15 years straight line
Vehicles 20 % reducing balance
Fixtures and fittings 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Biological assets

The Company owned . In accordance with FRS102, these are defined as biological assets.

Biological assets are recognised only when the entity has control of the asset as a result of past events, it is probable that future economic benefits associated with the asset will flow to the entity; and the fair value or cost of the asset can be measured reliably.

Where the Company measures a biological asset under the fair value model on initial recognition, it must carry the asset at fair value at each reporting date. Changes in fair value less costs to sell are recognised in profit or loss.

The Company measures biological assets at cost less accumulated depreciation and accumulated impairment losses as follows:

Pig herd depreciated on a straight line basis over 5 years

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 January 2023 11,232 11,232
At 31 December 2023 11,232 11,232
Accumulated amortisation
At 01 January 2023 11,232 11,232
At 31 December 2023 11,232 11,232
Net book value
At 31 December 2023 0 0
At 31 December 2022 0 0

4. Tangible assets

Land and buildings Biological assets Investment property Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £ £ £
Cost
At 01 January 2023 1,207,280 62,550 1,049,975 622,687 161,212 20,345 3,124,049
Additions 0 25,380 0 895 0 3,750 30,025
Disposals 0 ( 24,180) 0 0 0 0 ( 24,180)
At 31 December 2023 1,207,280 63,750 1,049,975 623,582 161,212 24,095 3,129,894
Accumulated depreciation
At 01 January 2023 9,865 20,832 0 395,081 128,263 7,882 561,923
Charge for the financial year 1,499 10,902 0 43,513 6,589 2,011 64,514
Disposals 0 ( 10,972) 0 0 0 0 ( 10,972)
At 31 December 2023 11,364 20,762 0 438,594 134,852 9,893 615,465
Net book value
At 31 December 2023 1,195,916 42,988 1,049,975 184,988 26,360 14,202 2,514,429
At 31 December 2022 1,197,415 41,718 1,049,975 227,606 32,949 12,463 2,562,126

Included within the net book value of land and buildings above is £1,169,766 (2021- £1,169,766) in respect of freehold land and buildings.

5. Debtors

2023 2022
£ £
Trade debtors 84,477 92,591
Prepayments 60,366 60,750
VAT recoverable 3,457 3,985
148,300 157,326

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts 390,296 462,923
Trade creditors 107,532 120,819
Taxation and social security 48,617 12,906
Obligations under finance leases and hire purchase contracts 15,145 12,893
Other creditors 298,131 344,787
859,721 954,328

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 1,099,366 1,155,852
Obligations under finance leases and hire purchase contracts 8,595 17,381
Other creditors 155,552 158,226
1,263,513 1,331,459

There are no amounts included above in respect of which any security has been given by the small entity.