8 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-18 Sage Accounts Production Advanced 2023 - FRS102_2023 152,062 72,027 152,062 80,035 50 50 50 xbrli:pure xbrli:shares iso4217:GBP 03081046 2023-01-18 2024-01-17 03081046 2024-01-17 03081046 2023-01-17 03081046 2022-01-18 2023-01-17 03081046 2023-01-17 03081046 2022-01-17 03081046 core:LandBuildings 2023-01-18 2024-01-17 03081046 core:PlantMachinery 2023-01-18 2024-01-17 03081046 core:MotorVehicles 2023-01-18 2024-01-17 03081046 bus:Director1 2023-01-18 2024-01-17 03081046 core:NetGoodwill 2023-01-17 03081046 core:NetGoodwill 2024-01-17 03081046 core:LandBuildings 2023-01-17 03081046 core:PlantMachinery 2023-01-17 03081046 core:MotorVehicles 2023-01-17 03081046 core:LandBuildings 2024-01-17 03081046 core:PlantMachinery 2024-01-17 03081046 core:MotorVehicles 2024-01-17 03081046 core:WithinOneYear 2024-01-17 03081046 core:WithinOneYear 2023-01-17 03081046 core:AfterOneYear 2024-01-17 03081046 core:AfterOneYear 2023-01-17 03081046 core:ShareCapital 2024-01-17 03081046 core:ShareCapital 2023-01-17 03081046 core:RevaluationReserve 2023-01-17 03081046 core:RetainedEarningsAccumulatedLosses 2024-01-17 03081046 core:RetainedEarningsAccumulatedLosses 2023-01-17 03081046 core:MoreThanFiveYears 2024-01-17 03081046 core:MoreThanFiveYears 2023-01-17 03081046 core:NetGoodwill 2023-01-17 03081046 core:CostValuation core:Non-currentFinancialInstruments 2024-01-17 03081046 core:Non-currentFinancialInstruments 2024-01-17 03081046 core:Non-currentFinancialInstruments 2023-01-17 03081046 core:LandBuildings 2023-01-17 03081046 core:PlantMachinery 2023-01-17 03081046 core:MotorVehicles 2023-01-17 03081046 bus:SmallEntities 2023-01-18 2024-01-17 03081046 bus:AuditExemptWithAccountantsReport 2023-01-18 2024-01-17 03081046 bus:SmallCompaniesRegimeForAccounts 2023-01-18 2024-01-17 03081046 bus:PrivateLimitedCompanyLtd 2023-01-18 2024-01-17 03081046 bus:FullAccounts 2023-01-18 2024-01-17 03081046 core:NetGoodwill 2023-01-18 2024-01-17
COMPANY REGISTRATION NUMBER: 03081046
R. Dunthorne Limited
Unaudited financial statements
17 January 2024
R. Dunthorne Limited
Statement of financial position
17 January 2024
2024
2023
Note
£
£
£
£
Fixed assets
Intangible assets
5
80,035
Tangible assets
6
6,611,095
6,290,579
Investments
7
50
50
-----------
-----------
6,611,145
6,370,664
Current assets
Stocks
451,816
494,282
Debtors
8
258,148
166,333
Cash at bank and in hand
1,637,265
1,148,793
-----------
-----------
2,347,229
1,809,408
Creditors: Amounts falling due within one year
9
( 494,647)
( 261,666)
-----------
-----------
Net current assets
1,852,582
1,547,742
-----------
-----------
Total assets less current liabilities
8,463,727
7,918,406
Creditors: Amounts falling due after more than one year
10
( 98,493)
( 149,516)
Provisions
Taxation including deferred tax
( 478,216)
( 313,321)
-----------
-----------
Net assets
7,887,018
7,455,569
-----------
-----------
Capital and reserves
Called up share capital
100
100
Revaluation reserve
63,078
Profit and loss account
7,886,918
7,392,391
-----------
-----------
Shareholder funds
7,887,018
7,455,569
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 17 January 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
R. Dunthorne Limited
Statement of financial position (continued)
17 January 2024
These financial statements were approved by the board of directors and authorised for issue on 25 September 2024 , and are signed on behalf of the board by:
P Dunthorne
Director
Company registration number: 03081046
R. Dunthorne Limited
Notes to the financial statements
Year ended 17 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hill House Farm, Limpenhoe, Cantley, Norwich, Norfolk.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference .
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Entitlements
-
Revalued to fair value every year
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Cattle sheds and grainstore
-
4% straight line
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Freehold land is not depreciated
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Stocks
Commodity stocks, livestock and cultivations are valued at the lower of cost and net realisable value by the director, after making due allowance for obsolete and slow moving items. The valuation of crops in store, livestock and cultivations includes an element of depreciation.
Government grants
Included within other income is the Basic Payment environmental grant and Environmental Stewardship grant totalling £215,661 (2023 - £321,007) receivable from The Rural Payments Agency under European Common Agricultural Policy regulations. Without this income, there would have been a profit for the year before tax of £502,955 (2022 - £1,856,293). Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
4. Employee numbers
The average number of employees during the year was 8 (2023: 8 ).
5. Intangible assets
Entitlements
£
Cost
At 18 January 2023 and 17 January 2024
152,062
---------
Amortisation
At 18 January 2023
72,027
Charge for the year
Revaluation
80,035
---------
At 17 January 2024
152,062
---------
Carrying amount
At 17 January 2024
---------
At 17 January 2023
80,035
---------
6. Tangible assets
Land and buildings
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 18 January 2023
5,636,739
1,899,712
96,170
7,632,621
Additions
633,978
35,634
669,612
Disposals
( 408,750)
( 24,227)
( 432,977)
-----------
-----------
---------
-----------
At 17 January 2024
5,636,739
2,124,940
107,577
7,869,256
-----------
-----------
---------
-----------
Depreciation
At 18 January 2023
92,982
1,180,422
68,638
1,342,042
Charge for the year
37,127
206,386
10,521
254,034
Disposals
( 328,830)
( 9,085)
( 337,915)
-----------
-----------
---------
-----------
At 17 January 2024
130,109
1,057,978
70,074
1,258,161
-----------
-----------
---------
-----------
Carrying amount
At 17 January 2024
5,506,630
1,066,962
37,503
6,611,095
-----------
-----------
---------
-----------
At 17 January 2023
5,543,757
719,290
27,532
6,290,579
-----------
-----------
---------
-----------
Land marshes and cottages included with Land and buildings are not depreciated.
7. Investments
Other investments other than loans
£
Cost
At 18 January 2023 and 17 January 2024
50
----
Impairment
At 18 January 2023 and 17 January 2024
----
Carrying amount
At 17 January 2024
50
----
At 17 January 2023
50
----
8. Debtors
2024
2023
£
£
Trade debtors
184,718
127,562
Other debtors
73,430
38,771
---------
---------
258,148
166,333
---------
---------
9. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
157,645
59,163
Trade creditors
136,563
39,809
Social security and other taxes
122,833
88,633
Other creditors
77,606
74,061
---------
---------
494,647
261,666
---------
---------
10. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Other creditors
98,493
149,516
-------
---------
11. Government grants
The amounts recognised in the financial statements for government grants are as follows:
2024
2023
£
£
Recognised in other operating income:
Government grants recognised directly in income
215,661
321,007
---------
---------
12. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Later than 5 years
50,740
50,740
-------
-------