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REGISTERED NUMBER: 00715521 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

CASSELS FARM LIMITED

CASSELS FARM LIMITED (REGISTERED NUMBER: 00715521)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CASSELS FARM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: C R J Cassels
Mrs L P Cassels
O H D Cassels
R N G Cassels





SECRETARY: C R J Cassels





REGISTERED OFFICE: Deptford Farmhouse
Wylye
Warminster
Wiltshire
BA12 0QQ





REGISTERED NUMBER: 00715521 (England and Wales)





ACCOUNTANTS: Martin and Company
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

CASSELS FARM LIMITED (REGISTERED NUMBER: 00715521)

BALANCE SHEET
30 SEPTEMBER 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 555,608 597,336
Investments 5 125 125
555,733 597,461

CURRENT ASSETS
Stocks 134,726 240,136
Debtors 6 85,241 54,174
Cash at bank 208,651 255,643
428,618 549,953
CREDITORS
Amounts falling due within one year 7 312,108 500,077
NET CURRENT ASSETS 116,510 49,876
TOTAL ASSETS LESS CURRENT
LIABILITIES

672,243

647,337

CREDITORS
Amounts falling due after more than one
year

8

(256,805

)

(281,039

)

PROVISIONS FOR LIABILITIES (907 ) (638 )
NET ASSETS 414,531 365,660

CAPITAL AND RESERVES
Called up share capital 2,600 2,600
Retained earnings 411,931 363,060
SHAREHOLDERS' FUNDS 414,531 365,660

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

CASSELS FARM LIMITED (REGISTERED NUMBER: 00715521)

BALANCE SHEET - continued
30 SEPTEMBER 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





C R J Cassels - Director


CASSELS FARM LIMITED (REGISTERED NUMBER: 00715521)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Cassels Farm 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Land - no depreciation charged
Property improvements - 5% on cost
Plant and machinery - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on reducing balance

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

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

Investments
Fixed asset investments are included at cost, less impairment.

CASSELS FARM LIMITED (REGISTERED NUMBER: 00715521)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued

Government grants
Grants are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the asset. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Freehold Property Plant and
property improvements machinery
£    £    £   
COST
At 1 October 2022 11,960 977,624 20,204
Additions - - 5,814
At 30 September 2023 11,960 977,624 26,018
DEPRECIATION
At 1 October 2022 - 435,038 10,782
Charge for year - 39,634 1,522
At 30 September 2023 - 474,672 12,304
NET BOOK VALUE
At 30 September 2023 11,960 502,952 13,714
At 30 September 2022 11,960 542,586 9,422

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2022 63,973 2,307 1,076,068
Additions - 615 6,429
At 30 September 2023 63,973 2,922 1,082,497
DEPRECIATION
At 1 October 2022 31,526 1,386 478,732
Charge for year 6,489 512 48,157
At 30 September 2023 38,015 1,898 526,889
NET BOOK VALUE
At 30 September 2023 25,958 1,024 555,608
At 30 September 2022 32,447 921 597,336

CASSELS FARM LIMITED (REGISTERED NUMBER: 00715521)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2022
and 30 September 2023 125
NET BOOK VALUE
At 30 September 2023 125
At 30 September 2022 125

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 60,000 28,183
VAT 3,083 11,525
Prepayments and accrued income 22,158 14,466
85,241 54,174

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 38,813 18,866
Hire purchase contracts 4,525 4,525
Trade creditors 108,594 213,004
Tax 24,241 43,304
Social security and other taxes 812 396
Other creditors 5,223 3,990
Directors' current accounts 122,900 208,992
Accruals and deferred income 7,000 7,000
312,108 500,077

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans - 1-2 years 20,475 19,589
Bank loans - 2-5 years 65,773 63,202
Bank loans more than 5 years 150,823 173,867
Hire purchase contracts 19,734 24,381
256,805 281,039

CASSELS FARM LIMITED (REGISTERED NUMBER: 00715521)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.9.23 30.9.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 150,823 173,867

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Bank overdraft 19,224 -
Bank loans 256,660 275,524
Hire purchase contracts 24,259 28,906
300,143 304,430

The bank overdraft is secured against the land farmed by the company.

10. RELATED PARTY DISCLOSURES

Included within creditors is an interest free loan from the directors of £122,900 (2022: £208,992).