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REGISTERED NUMBER: 03457387 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

LOWER BLACKGROVE FARM LIMITED

LOWER BLACKGROVE FARM LIMITED (REGISTERED NUMBER: 03457387)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOWER BLACKGROVE FARM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: A K Austen
C V A Winnicott





SECRETARY: SJP Secretaries Limited





REGISTERED OFFICE: Estate Yard Office
Queen Street
Waddesdon
Buckinghamshire
HP18 0JW





REGISTERED NUMBER: 03457387 (England and Wales)





ACCOUNTANTS: Martin and Company
Two Brewers House
50 North Street
Thame
Oxfordshire
OX9 3BH

LOWER BLACKGROVE FARM LIMITED (REGISTERED NUMBER: 03457387)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,295,219 1,264,668

CURRENT ASSETS
Stocks 136,138 27,456
Debtors 5 29,041 76,528
Cash at bank 804,142 1,016,826
969,321 1,120,810
CREDITORS
Amounts falling due within one year 6 18,219 84,635
NET CURRENT ASSETS 951,102 1,036,175
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,246,321

2,300,843

PROVISIONS FOR LIABILITIES 2,124 8,245
NET ASSETS 2,244,197 2,292,598

CAPITAL AND RESERVES
Called up share capital 1,730,000 1,730,000
Retained earnings 514,197 562,598
2,244,197 2,292,598

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

LOWER BLACKGROVE FARM LIMITED (REGISTERED NUMBER: 03457387)

BALANCE SHEET - continued
31ST MARCH 2024


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 16th September 2024 and were signed on its behalf by:





C V A Winnicott - Director


LOWER BLACKGROVE FARM LIMITED (REGISTERED NUMBER: 03457387)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Lower Blackgrove 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Improvements to property - 20% on cost and 10% on cost
Plant and machinery - 20% on cost and 10% on cost

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and
finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Closing stocks are reported as follows:

Y.E. 31.03.2024 Y.E. 31.03.2023

Crops In Store 107,244 0
Tillages 20,403 27,383
Consumables 8,491 73

Total 136,138 27,456

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 balance sheet date.


LOWER BLACKGROVE FARM LIMITED (REGISTERED NUMBER: 03457387)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery Totals
£    £    £    £   
COST
At 1st April 2023 1,234,684 52,505 41,779 1,328,968
Additions - 46,311 4,025 50,336
Disposals - - (13,809 ) (13,809 )
At 31st March 2024 1,234,684 98,816 31,995 1,365,495
DEPRECIATION
At 1st April 2023 2,997 52,504 8,799 64,300
Charge for year - 2,701 4,178 6,879
Eliminated on disposal - - (903 ) (903 )
At 31st March 2024 2,997 55,205 12,074 70,276
NET BOOK VALUE
At 31st March 2024 1,231,687 43,611 19,921 1,295,219
At 31st March 2023 1,231,687 1 32,980 1,264,668

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,114 150
Other debtors 24,927 76,378
29,041 76,528

LOWER BLACKGROVE FARM LIMITED (REGISTERED NUMBER: 03457387)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 7,964 8,133
Taxation and social security - 68,595
Other creditors 10,255 7,907
18,219 84,635

7. RELATED PARTY DISCLOSURES

Other debtors include an amount of £3,175 (2023 - £3,072 included as an other creditor) in respect of amounts due to Waddesdon Estates LLP, which is related through common ownership. The amount is unsecured, interest free and payable on demand.

During the year, contracting expenses of £46,642 (2023 - £36,369) were recognised in respect of the contracting farming agreement with Waddesdon Estates LLP.