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Company No: 06189949 (England and Wales)

HOLLANDS FARMS BLANDFORD LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

HOLLANDS FARMS BLANDFORD LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

HOLLANDS FARMS BLANDFORD LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
HOLLANDS FARMS BLANDFORD LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTOR Mr B G Cooper
REGISTERED OFFICE Manor Farm House Birch Close
Charlton Marshall
Blandford Forum
DT11 9AJ
United Kingdom
COMPANY NUMBER 06189949 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Hitchcock House
Hilltop Park
Devizes Road
Salisbury
Wiltshire SP3 4UF
HOLLANDS FARMS BLANDFORD LIMITED

BALANCE SHEET

As at 31 March 2024
HOLLANDS FARMS BLANDFORD LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,826,624 1,783,014
Investments 4 89,748 85,139
1,916,372 1,868,153
Current assets
Stocks 337,882 382,172
Debtors 5 54,532 57,448
392,414 439,620
Creditors: amounts falling due within one year 6 ( 354,662) ( 344,412)
Net current assets 37,752 95,208
Total assets less current liabilities 1,954,124 1,963,361
Creditors: amounts falling due after more than one year 7 ( 1,542,769) ( 1,557,211)
Provision for liabilities ( 34,888) ( 32,145)
Net assets 376,467 374,005
Capital and reserves
Called-up share capital 1 1
Profit and loss account 376,466 374,004
Total shareholder's funds 376,467 374,005

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Hollands Farms Blandford Limited (registered number: 06189949) were approved and authorised for issue by the Director on 06 September 2024. They were signed on its behalf by:

Mr B G Cooper
Director
HOLLANDS FARMS BLANDFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
HOLLANDS FARMS BLANDFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

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

General information and basis of accounting

The company is a private company limited by share capital, incorporated in England and wales.

The address of its registered office is:
Manor Farmhouse
Birch Close
Charlton Marshall
Blandford Forum
Dorset
DT11 9AJ
England

Taxation

Current tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Land and buildings 0 - 5 % reducing balance
Plant and machinery 15 - 17.5 % reducing balance
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.

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.

Financial instruments

Classification
The company holds the following financial instruments:
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.


Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments. Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

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 Section 1A, and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company is the subsidiary undertaking of a small group and as such the group is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking.

Revenue recognition

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.

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. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 4 4

3. Tangible assets

Land and buildings Plant and machinery Total
£ £ £
Cost
At 01 April 2023 1,581,921 790,055 2,371,976
Additions 0 143,710 143,710
Disposals 0 ( 79,500) ( 79,500)
At 31 March 2024 1,581,921 854,265 2,436,186
Accumulated depreciation
At 01 April 2023 86,243 502,719 588,962
Charge for the financial year 5,766 64,252 70,018
Disposals 0 ( 49,418) ( 49,418)
0 0 0
At 31 March 2024 92,009 517,553 609,562
Net book value
At 31 March 2024 1,489,912 336,712 1,826,624
At 31 March 2023 1,495,678 287,336 1,783,014

Included with the net book value of land and buildings above is £1,489,912 (2023 - £1,495,678) in respect of freehold land and buildings.

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 April 2023 85,139 85,139
Additions 4,609 4,609
At 31 March 2024 89,748 89,748
Carrying value at 31 March 2024 89,748 89,748
Carrying value at 31 March 2023 85,139 85,139

5. Debtors

2024 2023
£ £
Trade debtors 49,675 44,309
Corporation tax 50 50
Other debtors 4,807 13,089
54,532 57,448

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 119,644 86,467
Trade creditors 41,228 75,747
Other taxation and social security 2,396 2,107
Obligations under finance leases and hire purchase contracts 24,456 28,649
Other creditors 166,938 151,442
354,662 344,412

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

2024 2023
£ £
Bank loans 272,215 293,288
Amounts owed to Parent undertakings 1,230,915 1,230,915
Obligations under finance leases and hire purchase contracts 39,639 33,008
1,542,769 1,557,211

There are no amounts included above in respect of which any security has been given by the small entity.

8. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
At start of period 1,230,915 1,230,915
At end of period 1,230,915 1,230,915

Hollands Farms B Limited
Hollands Farms Blandford Limited commenced trading on 1 April 2007 with assets and trade received via a dividend to the shareholders of Hollands Farms B Limited, its parent company, on the statutory demerger under s213 ICTA from Hollands (Farms) Limited. The total owing to Hollands Farms B Limited at the balance sheet date was £1,230,915 (2023: £1,230,915) and is included within amounts owing to group undertakings.