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REGISTERED NUMBER: 05344797 (England and Wales)

















Salthaugh Grange Farm Limited

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






Salthaugh Grange Farm Limited (Registered number: 05344797)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Salthaugh Grange Farm Limited

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: Mr H G De Lang
Ms C A J De Lang
Mr D R De Lang
Mr R J De Lang





SECRETARY: Ms C A J De Lang





REGISTERED OFFICE: Mill Nurseries
Ottringham Road
Keyingham
East Yorkshire
HU12 9RX





REGISTERED NUMBER: 05344797 (England and Wales)





ACCOUNTANTS: Southgates
Chartered Certified Accountants
9 Market Place
Hedon
East Yorkshire
HU12 8JA

Salthaugh Grange Farm Limited (Registered number: 05344797)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,504,526 2,096,344
Investments 5 1 1
2,504,527 2,096,345

CURRENT ASSETS
Stocks 6 853,799 730,988
Debtors 7 127,082 111,787
Cash at bank 78,698 73,663
1,059,579 916,438
CREDITORS
Amounts falling due within one year 8 168,532 193,980
NET CURRENT ASSETS 891,047 722,458
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,395,574

2,818,803

CREDITORS
Amounts falling due after more than one
year

9

(1,983,000

)

(1,689,051

)

PROVISIONS FOR LIABILITIES (109,802 ) (103,982 )
NET ASSETS 1,302,772 1,025,770

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 1,302,768 1,025,766
SHAREHOLDERS' FUNDS 1,302,772 1,025,770

Salthaugh Grange Farm Limited (Registered number: 05344797)

BALANCE SHEET - continued
31 December 2023


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 Profit and Loss Account 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:





Mr H G De Lang - Director


Salthaugh Grange Farm Limited (Registered number: 05344797)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Salthaugh Grange 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.

Turnover
Turnover represents net invoiced sales, excluding value added tax, and with reference to the delivery date of those goods sold.

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.
Plant and machinery - 15% on reducing balance

No depreciation is calculated on Freehold Land. Depreciation is provided in order to write each asset down to its residual value over its estimated useful life. In the case of freehold properties, the charge and accumulated depreciation is not material due to its high residual value.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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
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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Salthaugh Grange Farm Limited (Registered number: 05344797)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 January 2023 1,526,262 1,470,413 2,996,675
Additions 341,140 271,951 613,091
Disposals - (212,781 ) (212,781 )
At 31 December 2023 1,867,402 1,529,583 3,396,985
DEPRECIATION
At 1 January 2023 - 900,331 900,331
Charge for year - 117,565 117,565
Eliminated on disposal - (125,437 ) (125,437 )
At 31 December 2023 - 892,459 892,459
NET BOOK VALUE
At 31 December 2023 1,867,402 637,124 2,504,526
At 31 December 2022 1,526,262 570,082 2,096,344

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2023 351,080
Additions 184,800
Disposals (111,000 )
Transfer to ownership (129,080 )
At 31 December 2023 295,800
DEPRECIATION
At 1 January 2023 157,471
Charge for year 37,945
Eliminated on disposal (42,832 )
Transfer to ownership (71,807 )
At 31 December 2023 80,777
NET BOOK VALUE
At 31 December 2023 215,023
At 31 December 2022 193,609

Salthaugh Grange Farm Limited (Registered number: 05344797)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

6. STOCKS
2023 2022
£    £   
Stocks 853,799 730,988

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,006 8,855
Other debtors 66,642 45,333
VAT 12,412 10,753
Prepayments 47,022 46,846
127,082 111,787

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 35,446 39,966
Trade creditors 109,019 114,046
Tax - 21,309
Directors' current accounts 251 251
Accruals 23,816 18,408
168,532 193,980

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 97,214 27,307
Loans 1,885,786 1,661,744
1,983,000 1,689,051