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REGISTERED NUMBER: 11540230 (England and Wales)






















Hotham Eggs Limited

Unaudited Financial Statements for the Year Ended 5th April 2024






Hotham Eggs Limited (Registered number: 11540230)






Contents of the Financial Statements
for the year ended 5th April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hotham Eggs Limited

Company Information
for the year ended 5th April 2024







DIRECTORS: The Hon W B Hotham
Lord Hotham





SECRETARY: S N Fairbank





REGISTERED OFFICE: The Estate Office
South Dalton
Beverley
East Yorkshire
HU17 7PN





REGISTERED NUMBER: 11540230 (England and Wales)





ACCOUNTANTS: Smailes Goldie Limited
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Hotham Eggs Limited (Registered number: 11540230)

Balance Sheet
5th April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,857,235 1,983,751

CURRENT ASSETS
Stocks 263,667 167,455
Debtors 5 402,138 158,298
Cash at bank and in hand 263,621 292,717
929,426 618,470
CREDITORS
Amounts falling due within one year 6 433,215 565,718
NET CURRENT ASSETS 496,211 52,752
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,353,446

2,036,503

CREDITORS
Amounts falling due after more than one
year

7

(1,802,462

)

(1,981,592

)

PROVISIONS FOR LIABILITIES (177,251 ) (33,857 )
NET ASSETS 373,733 21,054

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 373,533 20,854
373,733 21,054

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5th April 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.

Hotham Eggs Limited (Registered number: 11540230)

Balance Sheet - continued
5th April 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23rd September 2024 and were signed on its behalf by:




Lord Hotham - Director



The Hon W B Hotham - Director


Hotham Eggs Limited (Registered number: 11540230)

Notes to the Financial Statements
for the year ended 5th April 2024

1. STATUTORY INFORMATION

Hotham Eggs 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
The financial statements have been prepared in accordance with applicable accounting standards including Section 1A of Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.The company is dependent on the financial support of a related party which has provided security in respect of the secured loans referred to in the notes to the financial statements. Accordingly the financial statements have been prepared on the going concern basis under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents income from the sale of eggs and birds, the recharge of manure, grant income and licences. Turnover is recognised net of VAT on an accruals basis during the period in which it is produced.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation
Depreciation of fixed assets is charged by annual instalments commencing with the year of acquisition at rates estimated to write off their cost less any residual value over the expected useful lives.

The annual rates used are as follows:

Leasehold propertyStraight line over 20 years
Plant & machineryBetween 5% and 25% on cost
Fixtures & fittingsBetween 5% and 33% on cost

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


Hotham Eggs Limited (Registered number: 11540230)

Notes to the Financial Statements - continued
for the year ended 5th April 2024

2. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current and past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 and other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risk of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

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 in other administrative expenses.

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 finance transaction it is measured at present value.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

Hotham Eggs Limited (Registered number: 11540230)

Notes to the Financial Statements - continued
for the year ended 5th April 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 6th April 2023 1,086,454 1,363,202 2,449,656
Additions - 850 850
At 5th April 2024 1,086,454 1,364,052 2,450,506
DEPRECIATION
At 6th April 2023 203,168 262,737 465,905
Charge for year 54,323 73,043 127,366
At 5th April 2024 257,491 335,780 593,271
NET BOOK VALUE
At 5th April 2024 828,963 1,028,272 1,857,235
At 5th April 2023 883,286 1,100,465 1,983,751

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 89,896 87,220
Other debtors 312,242 71,078
402,138 158,298

Other debtors include short term loans to connected parties under common control. There are no formal terms in place or interest charged therefore the total balance of £76,000 (2023 £Nil) is shown as receivable on demand.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 80,991 326,408
Trade creditors 318,602 199,335
Taxation and social security 1,275 565
Other creditors 32,347 39,410
433,215 565,718

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 1,802,462 1,981,592

Hotham Eggs Limited (Registered number: 11540230)

Notes to the Financial Statements - continued
for the year ended 5th April 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,443,583 1,624,048

Secured loans totalling £1,154,536 (2023 £1,210,587) are repayable by instalments over the period to 2040 and carry interest at 3.48% pa. This is secured over assets of a related party.

Secured loans totalling £728,917 (2023 £851,925) are repayable over the period to 2041 and carries interest at the rate of 2.3% over the base rate of Lloyds Bank PLC. This is secured over assets of a related party.

During the year another secured loan was fully repaid (2023 £245,488).

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Between one and five years 25,000 24,000

9. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity

2024 2023
£    £   
Rent paid 29,401 27,945
Amounts owed to related party 9,806 51,314