Caseware UK (AP4) 2023.0.135 2023.0.135 false2023-01-01truetruefarming44The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00369501 2023-01-01 2023-12-31 00369501 2022-01-01 2022-12-31 00369501 2023-12-31 00369501 2022-12-31 00369501 2022-01-01 00369501 c:PriorPeriodIncreaseDecrease 2023-01-01 2023-12-31 00369501 d:Director1 2023-01-01 2023-12-31 00369501 c:Buildings 2023-01-01 2023-12-31 00369501 c:Buildings 2022-12-31 00369501 c:Buildings c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00369501 c:PlantMachinery 2023-01-01 2023-12-31 00369501 c:PlantMachinery 2022-12-31 00369501 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00369501 c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00369501 c:CurrentFinancialInstruments 2023-12-31 00369501 c:CurrentFinancialInstruments 2022-12-31 00369501 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 00369501 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 00369501 c:ShareCapital 2023-12-31 00369501 c:ShareCapital 2022-12-31 00369501 c:ShareCapital 2022-01-01 00369501 c:RevaluationReserve 2023-12-31 00369501 c:RevaluationReserve 2022-12-31 00369501 c:RevaluationReserve 2022-01-01 00369501 c:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 00369501 c:RetainedEarningsAccumulatedLosses 2023-12-31 00369501 c:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 00369501 c:RetainedEarningsAccumulatedLosses 2022-12-31 00369501 c:RetainedEarningsAccumulatedLosses 2022-01-01 00369501 d:FRS102 2023-01-01 2023-12-31 00369501 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 00369501 d:FullAccounts 2023-01-01 2023-12-31 00369501 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00369501 c:Buildings c:PriorPeriodIncreaseDecrease 2023-01-01 2023-12-31 00369501 c:PlantMachinery c:PriorPeriodIncreaseDecrease 2023-01-01 2023-12-31 00369501 c:OtherDeferredTax 2023-12-31 00369501 c:OtherDeferredTax 2022-12-31 00369501 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 00369501





 
Beauchamps Farms Limited          
 
Financial statements          

For the year ended 31 December 2023          

 
Beauchamps Farms Limited
Registered number:00369501

Balance sheet
As at 31 December 2023


2023 

2022 
                                                                                  Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
1,477,708
1,477,720

Current assets
  

Debtors
 5 
21,330
33,580

Cash at bank and in hand
  
214,287
51,844

  
235,617
85,424

Creditors: amounts falling due within one year
 6 
(94,818)
(38,472)

Net current assets
  
 
 
140,799
 
 
46,952

Total assets less current liabilities
  
1,618,507
1,524,672

Provisions for liabilities
  

Deferred tax
 7 
(216,223)
(216,223)

Net assets
  
1,402,284
1,308,449


Capital and reserves
  

Called up share capital 
  
1,401
1,401

Investment property revaluation reserve
  
1,022,777
1,022,777

Profit and loss account
  
378,106
284,271

  
1,402,284
1,308,449


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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The company has opted not to file the profit and loss account 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 on 15 August 2024.


P B Carter
Director

The notes on pages 3 to 8 form part of these financial statements.
Page 1

 
Beauchamps Farms Limited
 

Statement of changes in equity
For the year ended 31 December 2023


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2023
1,401
1,022,777
284,271
1,308,449



Profit for the year
-
-
177,895
177,895

Dividends: Equity capital
-
-
(84,060)
(84,060)


At 31 December 2023
1,401
1,022,777
378,106
1,402,284





 


Statement of changes in equity
For the year ended 31 December 2022


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2022
1,401
1,022,777
277,082
1,301,260



Profit for the year
-
-
63,229
63,229

Dividends: Equity capital
-
-
(56,040)
(56,040)


At 31 December 2022
1,401
1,022,777
284,271
1,308,449









The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
Beauchamps Farms Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

1.Accounting policies

 
1.1

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
1.2

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.

 
1.3

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 3

 
Beauchamps Farms Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

1.Accounting policies (continued)


1.3
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 at the following rate:

Plant and machinery
-
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.

 
1.4

Investment property

Investment property is carried at fair value as determined annually by the directors, having regard to professional advice taken personally, and is derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the profit and loss account.

 
1.5

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.

 
1.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.7

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.

 
1.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. 

Page 4

 
Beauchamps Farms Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

1.Accounting policies (continued)

 
1.9

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.

 
1.10

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.


General information

Beauchamps Farms Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Construction House, Runwell Road, Wickford, Essex SS11 7HJ.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 5

 
Beauchamps Farms Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

4.


Tangible fixed assets





Land and buildings
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 January 2023
1,477,671
5,000
1,482,671



At 31 December 2023

1,477,671
5,000
1,482,671



Depreciation


At 1 January 2023
-
4,951
4,951


Charge for the year 
-
12
12



At 31 December 2023

-
4,963
4,963



Net book value



At 31 December 2023
1,477,671
37
1,477,708



At 31 December 2022
1,477,671
49
1,477,720

Included in land and buildings are freehold investment properties at a valuation of £1,250,000 (2022 - £1,250,000) which are not depreciated.
The aforementioned valuation represents the open market value of the properties, as provided by the directors, having regard to professional advice taken personally.

If the investment properties had not been included at valuation they would have been included under the historical cost convention as follows:

2023
2022
£
£



Cost
11,000
11,000

Accumulated depreciation
-
-

Net book value
11,000
11,000

Page 6

 
Beauchamps Farms Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

5.


Debtors

2023
2022
£
£


Trade debtors
13,724
11,671

Other debtors
7,097
5,826

Prepayments and accrued income
509
16,083

21,330
33,580



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Payments received on account
3,350
3,350

Trade creditors
11,702
13,495

Amounts owed to associated company
10,436
100

Corporation tax
55,944
14,835

Other creditors
10,148
3,672

Accruals and deferred income
3,238
3,020

94,818
38,472



7.


Deferred taxation




2023
2022


£

£






At beginning of year
216,223
216,223



At end of year
216,223
216,223

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Unrealised surplus on revalued investment property
216,223
216,223

Page 7

 
Beauchamps Farms Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

8.


Related party transactions

During the year the company purchased services totalling £8,733 (2022 - £3,470) from Carter and Ward of Wickford Limited, an associated company. At the year end the company owed £5,555 (2022 - £4,148 debtor) to Carter and Ward of Wickford Limited. 
 

 
Page 8