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REGISTERED NUMBER: 00435439 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Arden Farms Owmby Ltd

Arden Farms Owmby Ltd (Registered number: 00435439)






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


Arden Farms Owmby Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P F Arden
Mrs S H I Arden





SECRETARY: Mrs S H I Arden





REGISTERED OFFICE: Owmby Cliff Farm
Owmby-By-Spital
Market Rasen
Lincolnshire
LN8 2AD





REGISTERED NUMBER: 00435439 (England and Wales)





ACCOUNTANTS: WOODGATES
Chartered Accountants
25 Woodgates Lane
North Ferriby
East Yorkshire
HU14 3JR

Arden Farms Owmby Ltd (Registered number: 00435439)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 6,930,178 6,572,465
Investment property 6 2,325,000 2,325,000
9,255,178 8,897,465

CURRENT ASSETS
Stocks 1,050,719 1,063,480
Debtors 7 434,764 331,972
Cash at bank and in hand 187,660 8,388
1,673,143 1,403,840
CREDITORS
Amounts falling due within one year 8 491,544 286,161
NET CURRENT ASSETS 1,181,599 1,117,679
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,436,777

10,015,144

CREDITORS
Amounts falling due after more than one
year

9

(290,608

)

(370,602

)

PROVISIONS FOR LIABILITIES (765,000 ) (731,000 )
NET ASSETS 9,381,169 8,913,542

Arden Farms Owmby Ltd (Registered number: 00435439)

Balance Sheet - continued
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9,000 9,000
Capital redemption reserve 12,000 12,000
Fair value reserve 1,253,746 1,253,746
Retained earnings 8,106,423 7,638,796
SHAREHOLDERS' FUNDS 9,381,169 8,913,542

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:




P F Arden - Director



Mrs S H I Arden - Director


Arden Farms Owmby Ltd (Registered number: 00435439)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Arden Farms Owmby Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
The directors revalue the Company's investment properties each year. The determination of the fair value of each property requires the use of estimates and assumptions in relation to factors such as future rental income and current market conditions.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax, and receipt of farming subsidies. Turnover is recognised on delivery of produce or on provision of service. Subsidies are recognised as income when the relevant conditions are met.

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation and impairment.

Depreciation is provided at the following annual rates in order to write off each asset, subject to their residual value, over their estimated useful life.

Freehold landNot depreciated

Buildings5% on cost, 4% on cost and 2% on cost

Plant and machinery etc 25% on cost, 20% on cost, 15% on cost, 10% on cost and 5% on cost

Investment property
Investment properties are shown at the most recent fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Fair Value Reserve. Deferred taxation is provided on gains and is recognised in the Fair Value Reserve. No depreciation is provided on Investment Properties.

Stocks
Stocks are valued at the lower of cost and net realisable value.

Arden Farms Owmby Ltd (Registered number: 00435439)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
Cash and bank balances
Cash and bank balances are recognised at transaction price.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at the present value of future payments.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Other operating income
Other operating income represents rents receivable from the occupation of properties. Rent receivable is recognised for the period to which it relates.

Fixed asset investments
Fixed asset investments are stated at cost less provision for impairment in value where appropriate.

Arden Farms Owmby Ltd (Registered number: 00435439)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 5,347,850 4,484,135 9,831,985
Additions 230,001 425,787 655,788
Disposals - (259,626 ) (259,626 )
At 31 December 2023 5,577,851 4,650,296 10,228,147
DEPRECIATION
At 1 January 2023 390,388 2,869,132 3,259,520
Charge for year 7,130 220,240 227,370
Eliminated on disposal - (188,921 ) (188,921 )
At 31 December 2023 397,518 2,900,451 3,297,969
NET BOOK VALUE
At 31 December 2023 5,180,333 1,749,845 6,930,178
At 31 December 2022 4,957,462 1,615,003 6,572,465

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 2,325,000
NET BOOK VALUE
At 31 December 2023 2,325,000
At 31 December 2022 2,325,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2019 1,583,746
Cost 741,254
2,325,000

Arden Farms Owmby Ltd (Registered number: 00435439)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. INVESTMENT PROPERTY - continued

If investment properties had not been revalued they would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 741,254 741,254

Investment properties were valued on an open market basis on 31 December 2019 by the Directors .

In accordance with FRS102A properties that meet the definition of Investment Properties are classified as such and stated at their open market value.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 392,872 278,628
Other debtors 41,892 53,344
434,764 331,972

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 79,999 93,320
Trade creditors 212,797 92,365
Taxation and social security 172,523 69,629
Other creditors 26,225 30,847
491,544 286,161

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 255,608 335,602
Other creditors 35,000 35,000
290,608 370,602

Arden Farms Owmby Ltd (Registered number: 00435439)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank overdraft - 15,796
Bank loans 335,607 413,126
335,607 428,922

The bank loan and overdraft is secured by legal charges over certain freehold land and property owned by the Company.