Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.Poultry farming2023-04-01false108true 09146638 2023-04-01 2024-03-31 09146638 2022-04-01 2023-03-31 09146638 2024-03-31 09146638 2023-03-31 09146638 c:Director1 2023-04-01 2024-03-31 09146638 d:Buildings 2023-04-01 2024-03-31 09146638 d:Buildings 2024-03-31 09146638 d:Buildings 2023-03-31 09146638 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09146638 d:LandBuildings 2024-03-31 09146638 d:LandBuildings 2023-03-31 09146638 d:PlantMachinery 2023-04-01 2024-03-31 09146638 d:PlantMachinery 2024-03-31 09146638 d:PlantMachinery 2023-03-31 09146638 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09146638 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 09146638 d:OtherPropertyPlantEquipment 2024-03-31 09146638 d:OtherPropertyPlantEquipment 2023-03-31 09146638 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09146638 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09146638 d:CurrentFinancialInstruments 2024-03-31 09146638 d:CurrentFinancialInstruments 2023-03-31 09146638 d:Non-currentFinancialInstruments 2024-03-31 09146638 d:Non-currentFinancialInstruments 2023-03-31 09146638 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09146638 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09146638 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 09146638 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09146638 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 09146638 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 09146638 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 09146638 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 09146638 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 09146638 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 09146638 d:ShareCapital 2024-03-31 09146638 d:ShareCapital 2023-03-31 09146638 d:RetainedEarningsAccumulatedLosses 2024-03-31 09146638 d:RetainedEarningsAccumulatedLosses 2023-03-31 09146638 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 09146638 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 09146638 c:OrdinaryShareClass1 2023-04-01 2024-03-31 09146638 c:OrdinaryShareClass1 2024-03-31 09146638 c:OrdinaryShareClass1 2023-03-31 09146638 c:OrdinaryShareClass2 2023-04-01 2024-03-31 09146638 c:OrdinaryShareClass2 2024-03-31 09146638 c:OrdinaryShareClass2 2023-03-31 09146638 c:OrdinaryShareClass3 2023-04-01 2024-03-31 09146638 c:OrdinaryShareClass3 2024-03-31 09146638 c:OrdinaryShareClass3 2023-03-31 09146638 c:FRS102 2023-04-01 2024-03-31 09146638 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09146638 c:FullAccounts 2023-04-01 2024-03-31 09146638 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09146638 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-03-31 09146638 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-03-31 09146638 d:LeasedAssetsHeldAsLessee 2024-03-31 09146638 d:LeasedAssetsHeldAsLessee 2023-03-31 09146638 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 09146638










T R HEMMING & SONS LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
T R HEMMING & SONS LTD
REGISTERED NUMBER: 09146638

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,541,657
1,597,236

  
1,541,657
1,597,236

Current assets
  

Stocks
  
136,963
17,401

Debtors: amounts falling due within one year
 5 
569,849
646,500

  
706,812
663,901

Creditors: amounts falling due within one year
 6 
(1,221,194)
(1,161,417)

Net current liabilities
  
 
 
(514,382)
 
 
(497,516)

Total assets less current liabilities
  
1,027,275
1,099,720

Creditors: amounts falling due after more than one year
 7 
(931,102)
(957,762)

  

Net assets
  
96,173
141,958


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
96,073
141,858

  
96,173
141,958


Page 1

 
T R HEMMING & SONS LTD
REGISTERED NUMBER: 09146638
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
P R Hemming
Director

Date: 15 July 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
T R HEMMING & SONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

T R Hemming & Sons Limited (company number 09146638) is a private limited company, limtied by shares incorporated in England and Wales, with its registered office and principal place of business at Silverdale, Stratton Heath, Yockleton, Shrewsbury, SY5 9QQ. 

The prior period accounts cover the period from 1 April 2022 to 31 March 2023.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
T R HEMMING & SONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
T R HEMMING & SONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Land and buildings
-
6%
reducing balance
Plant and machinery
-
25%
reducing balance
Tractors
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

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.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
T R HEMMING & SONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
10
8


4.


Tangible fixed assets





Land and buildings
Plant and machinery
Tractors
Total

£
£
£
£



Cost or valuation


At 1 April 2023
1,790,055
238,130
17,600
2,045,785


Additions
-
52,638
56,967
109,605


Disposals
-
-
(19,000)
(19,000)



At 31 March 2024

1,790,055
290,768
55,567
2,136,390



Depreciation


At 1 April 2023
338,598
101,908
8,043
448,549


Charge for the year on owned assets
87,087
47,215
11,882
146,184



At 31 March 2024

425,685
149,123
19,925
594,733



Net book value



At 31 March 2024
1,364,370
141,645
35,642
1,541,657



At 31 March 2023
1,451,457
136,222
9,557
1,597,236

Page 6

 
T R HEMMING & SONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

           4.Tangible fixed assets (continued)




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Poultry buildings
1,364,370
1,451,457

1,364,370
1,451,457


The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
23,203
30,938

23,203
30,938


5.


Debtors

2024
2023
£
£


Trade debtors
507,072
587,153

Other debtors
18,924
20,869

Prepayments
600
600

Deferred taxation
43,253
37,878

569,849
646,500


Page 7

 
T R HEMMING & SONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
179,356
184,275

Bank loans
31,612
45,430

Trade creditors
599,144
496,181

Corporation tax
-
5,109

Obligations under finance lease and hire purchase contracts
21,327
15,096

Other creditors
378,061
406,748

Accruals and deferred income
11,694
8,578

1,221,194
1,161,417



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
882,099
899,894

Net obligations under finance leases and hire purchase contracts
49,003
57,868

931,102
957,762


Page 8

 
T R HEMMING & SONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
31,612
45,430


31,612
45,430

Amounts falling due 1-2 years

Bank loans
31,612
46,668


31,612
46,668

Amounts falling due 2-5 years

Bank loans
94,836
147,773


94,836
147,773

Amounts falling due after more than 5 years

Bank loans
755,651
705,453

755,651
705,453

913,711
945,324


Page 9

 
T R HEMMING & SONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Deferred taxation




2024


£






At beginning of year
37,877


Charged to profit or loss
5,376



At end of year
43,253

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
43,253
37,877

43,253
37,877


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



40 (2023 - 40) A Ordinary shares shares of £1.00 each
40
40
40 (2023 - 40) B Ordinary Shares shares of £1.00 each
40
40
20 (2023 - 20) C Ordinary Shares shares of £1.00 each
20
20

100

100



11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £1,199.13 (2023: £1,418.92)


12.


Related party transactions

During the year ended 31 March 2024 a loan account was operated between the company and a connected unincorporated partnership, of which the Directors are Partners. The company owed the partnership £378,061.59. No interest has been charged on this loan.    

Included in other creditors is an amount of £1,118.91 due to a Director
 
Page 10