Silverfin false false 31/12/2023 01/10/2022 31/12/2023 Mrs S J Collison 06/05/2008 Mr R H Noble 06/05/2008 Mr M H Noble 06/05/2008 17 June 2024 The principle activity of the company is growing of cereals. 06585455 2023-12-31 06585455 bus:Director1 2023-12-31 06585455 bus:Director2 2023-12-31 06585455 bus:Director3 2023-12-31 06585455 2022-09-30 06585455 core:CurrentFinancialInstruments 2023-12-31 06585455 core:CurrentFinancialInstruments 2022-09-30 06585455 core:Non-currentFinancialInstruments 2023-12-31 06585455 core:Non-currentFinancialInstruments 2022-09-30 06585455 core:ShareCapital 2023-12-31 06585455 core:ShareCapital 2022-09-30 06585455 core:RevaluationReserve 2023-12-31 06585455 core:RevaluationReserve 2022-09-30 06585455 core:CapitalRedemptionReserve 2023-12-31 06585455 core:CapitalRedemptionReserve 2022-09-30 06585455 core:RetainedEarningsAccumulatedLosses 2023-12-31 06585455 core:RetainedEarningsAccumulatedLosses 2022-09-30 06585455 core:OtherResidualIntangibleAssets 2022-09-30 06585455 core:OtherResidualIntangibleAssets 2023-12-31 06585455 core:LandBuildings 2022-09-30 06585455 core:PlantMachinery 2022-09-30 06585455 core:Vehicles 2022-09-30 06585455 core:FurnitureFittings 2022-09-30 06585455 core:LandBuildings 2023-12-31 06585455 core:PlantMachinery 2023-12-31 06585455 core:Vehicles 2023-12-31 06585455 core:FurnitureFittings 2023-12-31 06585455 core:Non-currentFinancialInstruments 1 2023-12-31 06585455 core:Non-currentFinancialInstruments 1 2022-09-30 06585455 bus:OrdinaryShareClass1 2023-12-31 06585455 bus:OrdinaryShareClass2 2023-12-31 06585455 bus:OrdinaryShareClass3 2023-12-31 06585455 bus:OrdinaryShareClass4 2023-12-31 06585455 bus:OrdinaryShareClass5 2023-12-31 06585455 2022-10-01 2023-12-31 06585455 bus:FilletedAccounts 2022-10-01 2023-12-31 06585455 bus:SmallEntities 2022-10-01 2023-12-31 06585455 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-12-31 06585455 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-12-31 06585455 bus:Director1 2022-10-01 2023-12-31 06585455 bus:Director2 2022-10-01 2023-12-31 06585455 bus:Director3 2022-10-01 2023-12-31 06585455 core:OtherResidualIntangibleAssets core:TopRangeValue 2022-10-01 2023-12-31 06585455 core:LandBuildings 2022-10-01 2023-12-31 06585455 core:PlantMachinery 2022-10-01 2023-12-31 06585455 core:Vehicles 2022-10-01 2023-12-31 06585455 core:FurnitureFittings core:TopRangeValue 2022-10-01 2023-12-31 06585455 2021-10-01 2022-09-30 06585455 core:FurnitureFittings 2022-10-01 2023-12-31 06585455 core:CurrentFinancialInstruments 2022-10-01 2023-12-31 06585455 bus:OrdinaryShareClass1 2022-10-01 2023-12-31 06585455 bus:OrdinaryShareClass1 2021-10-01 2022-09-30 06585455 bus:OrdinaryShareClass2 2022-10-01 2023-12-31 06585455 bus:OrdinaryShareClass2 2021-10-01 2022-09-30 06585455 bus:OrdinaryShareClass3 2022-10-01 2023-12-31 06585455 bus:OrdinaryShareClass3 2021-10-01 2022-09-30 06585455 bus:OrdinaryShareClass4 2022-10-01 2023-12-31 06585455 bus:OrdinaryShareClass4 2021-10-01 2022-09-30 06585455 bus:OrdinaryShareClass5 2022-10-01 2023-12-31 06585455 bus:OrdinaryShareClass5 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 06585455 (England and Wales)

PUCKSHIPTON FARMS LIMITED

Unaudited Financial Statements
For the financial period from 01 October 2022 to 31 December 2023
Pages for filing with the registrar

PUCKSHIPTON FARMS LIMITED

Unaudited Financial Statements

For the financial period from 01 October 2022 to 31 December 2023

Contents

PUCKSHIPTON FARMS LIMITED

COMPANY INFORMATION

For the financial period from 01 October 2022 to 31 December 2023
PUCKSHIPTON FARMS LIMITED

COMPANY INFORMATION (continued)

For the financial period from 01 October 2022 to 31 December 2023
DIRECTORS Mrs S J Collison
Mr R H Noble
Mr M H Noble
SECRETARY Mr M H Noble
REGISTERED OFFICE Hitchcock House
Hilltop Park
Devizes Road
Salisbury
SP3 4UF
United Kingdom
COMPANY NUMBER 06585455 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Hitchcock House
Hilltop Park
Devizes Road
Salisbury
Wiltshire SP3 4UF
PUCKSHIPTON FARMS LIMITED

BALANCE SHEET

As at 31 December 2023
PUCKSHIPTON FARMS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 31.12.2023 30.09.2022
£ £
Restated - note 2
Fixed assets
Tangible assets 5 905,633 633,939
Investment property 6 813,167 813,167
1,718,800 1,447,106
Current assets
Stocks 523,392 561,841
Debtors 7 22,026 78,283
Cash at bank and in hand 442,047 390,841
987,465 1,030,965
Creditors: amounts falling due within one year 8 ( 497,793) ( 614,339)
Net current assets 489,672 416,626
Total assets less current liabilities 2,208,472 1,863,732
Creditors: amounts falling due after more than one year 9 ( 332,662) ( 173,157)
Net assets 1,875,810 1,690,575
Capital and reserves
Called-up share capital 10 100 100
Revaluation reserve 250,000 250,000
Capital redemption reserve 770,000 770,000
Profit and loss account 855,710 670,475
Total shareholders' funds 1,875,810 1,690,575

For the financial period 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 Puckshipton Farms Limited (registered number: 06585455) were approved and authorised for issue by the Board of Directors on 17 June 2024. They were signed on its behalf by:

Mr M H Noble
Director
Mrs S J Collison
Director
Mr R H Noble
Director
PUCKSHIPTON FARMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 October 2022 to 31 December 2023
PUCKSHIPTON FARMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 October 2022 to 31 December 2023
1. Accounting policies

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

General information and basis of accounting

Puckshipton Farms 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 £.

Reporting period length

The accounts cover the 15 month period from 1 October 2022 to 31 December 2023. The comparative amounts presented cover the 12 month period ended 30 September 2022.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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 5 years straight line
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 or reducing balance basis over its expected useful life, as follows:

Land and buildings 12.5 % reducing balance
Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 years straight line

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.

Leases

The Company as lessee
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as property, plant and equipment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks 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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Prior period adjustment

The directors have discovered material errors arising for the years to 30 September 2022 and consider that a restatement is necessary.

The impact on the financial statements is a decrease in retained earnings brought forward by £52,584, a decrease in other operating income by £17,711, and an increase in creditors: amounts falling due within one year by £70,295.

As previously reported Adjustment As restated
Period ended 30 September 2022 £ £ £
Retained earnings brought forward 460,673 (52,584) 408,089
Other operating income 71,665 (17,711) 53,954
Creditors: amounts falling due within one year 544,044 70,295 614,339

3. Employees

Period from
01.10.2022 to
31.12.2023
Year ended
30.09.2022
Number Number
Monthly average number of persons employed by the Company during the period, including directors 5 4

4. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 October 2022 77,874 77,874
At 31 December 2023 77,874 77,874
Accumulated amortisation
At 01 October 2022 77,874 77,874
At 31 December 2023 77,874 77,874
Net book value
At 31 December 2023 0 0
At 30 September 2022 0 0

5. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 October 2022 314,243 1,014,735 24,614 66,974 1,420,566
Additions 0 435,315 0 0 435,315
Disposals 0 ( 278,400) 0 0 ( 278,400)
At 31 December 2023 314,243 1,171,650 24,614 66,974 1,577,481
Accumulated depreciation
At 01 October 2022 50,772 693,335 22,633 19,887 786,627
Charge for the financial period 1,792 108,801 619 3,350 114,562
Disposals 0 ( 229,341) 0 0 ( 229,341)
At 31 December 2023 52,564 572,795 23,252 23,237 671,848
Net book value
At 31 December 2023 261,679 598,855 1,362 43,737 905,633
At 30 September 2022 263,471 321,400 1,981 47,087 633,939

Included within the net book value of land and buildings above is £261,679 (2022 - £263,471) in respect of freehold land and buildings.

6. Investment property

Investment property
£
Valuation
As at 01 October 2022 813,167
As at 31 December 2023 813,167

Investment property comprises of residential dwellings. The fair value of the investment property has been arrived at on the basis of a valuation carried out on 26 April 2019 by the directors of the company. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.

7. Debtors

31.12.2023 30.09.2022
£ £
Trade debtors 16,550 61,175
Prepayments 4,988 8,263
VAT recoverable 0 8,845
Other debtors 488 0
22,026 78,283

8. Creditors: amounts falling due within one year

31.12.2023 30.09.2022
£ £
Trade creditors 34,380 84,884
Amounts owed to directors 357,194 394,669
Accruals 5,880 5,443
Taxation and social security 6,143 91,821
Obligations under finance leases and hire purchase contracts 67,500 0
Other creditors 26,696 37,522
497,793 614,339

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £158,500 (2022- £nil)

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

31.12.2023 30.09.2022
£ £
Obligations under finance leases and hire purchase contracts 91,000 0
Deferred tax liability 241,662 173,157
332,662 173,157

10. Called-up share capital

31.12.2023 30.09.2022
£ £
Allotted, called-up and fully-paid
30 Ordinary class A shares of £ 1.00 each 30 30
14 Ordinary class B shares of £ 1.00 each 14 14
10 Ordinary class C shares of £ 1.00 each 10 10
41 Ordinary class D shares of £ 1.00 each 41 41
5 Ordinary class E shares of £ 1.00 each 5 5
100 100