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REGISTERED NUMBER: 09726733 (England and Wales)















HARDYS FARM LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






HARDYS FARM LIMITED (REGISTERED NUMBER: 09726733)






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




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 9


HARDYS FARM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: S D Hardy
J G Hardy
G D Hardy





REGISTERED OFFICE: Grays Farm
Anchor Lane
Ingoldmells
Skegness
Lincolnshire
PE25 1LZ





REGISTERED NUMBER: 09726733 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF

HARDYS FARM LIMITED (REGISTERED NUMBER: 09726733)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,457,734 10,454,282
Investments 5 617,498 43,512
Investment property 6 600,000 600,000
11,675,232 11,097,794

CURRENT ASSETS
Valuation 762,700 439,850
Debtors 7 120,799 193,598
Cash at bank and in hand 1,310,523 1,079,601
2,194,022 1,713,049
CREDITORS
Amounts falling due within one year 8 1,384,224 1,107,881
NET CURRENT ASSETS 809,798 605,168
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,485,030

11,702,962

CREDITORS
Amounts falling due after more than
one year

9

(54,800

)

(52,000

)

PROVISIONS FOR LIABILITIES (1,946,721 ) (1,929,040 )
NET ASSETS 10,483,509 9,721,922

HARDYS FARM LIMITED (REGISTERED NUMBER: 09726733)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 900 900
Share premium 5,425,322 5,425,322
Fair value reserve 12 125,899 71,578
Retained earnings 4,931,388 4,224,122
SHAREHOLDERS' FUNDS 10,483,509 9,721,922

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 20 August 2024 and were signed on its behalf by:





G D Hardy - Director


HARDYS FARM LIMITED (REGISTERED NUMBER: 09726733)

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

1. STATUTORY INFORMATION

Hardys Farm 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 represents the fair value of consideration received for net invoiced sales of produce, site fees and caravan sales, excluding value added tax.

Sales of farming produce are recognised upon dispatch, revenue from the caravan site is recognised upon receipt and sales of caravans are recognised when the caravans are delivered to the customer.

Tangible fixed assets
Tangible fixed assets are held at cost less accumulated depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings- Nil
Plant and machinery etc- 15% and 25% on reducing balance

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

Stocks
Stocks have been certified by a qualified valuer at the lower of cost and fair value less costs to complete and sell.

Caravans held in stock are goods for resale and are valued at the lower of cost and fair value less costs to complete and sell.

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.


HARDYS FARM LIMITED (REGISTERED NUMBER: 09726733)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. 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 shorter.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

HARDYS FARM LIMITED (REGISTERED NUMBER: 09726733)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 10,074,448 717,818 10,792,266
Additions - 109,850 109,850
Disposals - (73,500 ) (73,500 )
At 31 December 2023 10,074,448 754,168 10,828,616
DEPRECIATION
At 1 January 2023 - 337,984 337,984
Charge for year - 93,317 93,317
Eliminated on disposal - (60,419 ) (60,419 )
At 31 December 2023 - 370,882 370,882
NET BOOK VALUE
At 31 December 2023 10,074,448 383,286 10,457,734
At 31 December 2022 10,074,448 379,834 10,454,282

5. FIXED ASSET INVESTMENTS
Other
investment
£   
COST OR VALUATION
At 1 January 2023 43,512
Additions 501,558
Revaluations 72,428
At 31 December 2023 617,498
NET BOOK VALUE
At 31 December 2023 617,498
At 31 December 2022 43,512

HARDYS FARM LIMITED (REGISTERED NUMBER: 09726733)

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

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 December 2023 is represented by:

Other
investment
£   
Valuation in 2023 72,428
Cost 545,070
617,498

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 600,000
NET BOOK VALUE
At 31 December 2023 600,000
At 31 December 2022 600,000

The directors have valued the investment property based on the value of similar properties that have recently sold in the area.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2022 95,437
Cost 504,563
600,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 76,754 60,984
VAT - 12,421
Prepayments and accrued income 44,045 120,193
120,799 193,598

HARDYS FARM LIMITED (REGISTERED NUMBER: 09726733)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 40,400 39,000
Trade creditors 435,723 68,045
Amounts owed to group undertakings 261,096 312,645
Tax 106,741 88,529
Social security and other taxes 66,270 5,754
Directors' current accounts 378,784 445,317
Accruals and deferred income 95,210 148,591
1,384,224 1,107,881

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 54,800 52,000

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 95,200 91,000

Hire purchase creditors are secured on the assets to which they relate.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
900 'A' Ordinary £1 900 900

12. RESERVES

The aggregate surplus on revaluation of investment properties, net of deferred tax, is transferred to a separate non-distributable revaluation reserve in order to assist with the identification of profits available for distribution.

HARDYS FARM LIMITED (REGISTERED NUMBER: 09726733)

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

13. OTHER FINANCIAL COMMITMENTS

The company has commitments due as follows:

20232022
££
Within one year8,12510,427