Aylesby Manor Farms Limited 00507767 false 2022-10-01 2023-09-29 2023-09-29 The principal activity of the company is that of farming, the letting of land under Farm Business Tenancies, and the letting of renovated farm buildings Digita Accounts Production Advanced 6.30.9574.0 true true 00507767 2022-10-01 2023-09-29 00507767 2023-09-29 00507767 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-09-29 00507767 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2023-09-29 00507767 core:CurrentFinancialInstruments 2023-09-29 00507767 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-29 00507767 core:Non-currentFinancialInstruments 2023-09-29 00507767 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-29 00507767 core:PatentsTrademarksLicencesConcessionsSimilar 2023-09-29 00507767 core:FurnitureFittingsToolsEquipment 2023-09-29 00507767 core:LandBuildings 2023-09-29 00507767 core:MotorVehicles 2023-09-29 00507767 core:OtherPropertyPlantEquipment 2023-09-29 00507767 core:OtherRelatedParties 2023-09-29 00507767 bus:SmallEntities 2022-10-01 2023-09-29 00507767 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-29 00507767 bus:FullAccounts 2022-10-01 2023-09-29 00507767 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-29 00507767 bus:RegisteredOffice 2022-10-01 2023-09-29 00507767 bus:Director1 2022-10-01 2023-09-29 00507767 bus:Director2 2022-10-01 2023-09-29 00507767 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-10-01 2023-09-29 00507767 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-29 00507767 core:PatentsTrademarksLicencesConcessionsSimilar 2022-10-01 2023-09-29 00507767 core:FurnitureFittingsToolsEquipment 2022-10-01 2023-09-29 00507767 core:LandBuildings 2022-10-01 2023-09-29 00507767 core:MotorVehicles 2022-10-01 2023-09-29 00507767 core:OtherPropertyPlantEquipment 2022-10-01 2023-09-29 00507767 core:PlantMachinery 2022-10-01 2023-09-29 00507767 core:OtherRelatedParties 2022-10-01 2023-09-29 00507767 countries:EnglandWales 2022-10-01 2023-09-29 00507767 2022-09-30 00507767 core:PatentsTrademarksLicencesConcessionsSimilar 2022-09-30 00507767 core:FurnitureFittingsToolsEquipment 2022-09-30 00507767 core:LandBuildings 2022-09-30 00507767 core:MotorVehicles 2022-09-30 00507767 core:OtherPropertyPlantEquipment 2022-09-30 00507767 core:OtherRelatedParties 2022-09-30 00507767 2021-10-01 2022-09-30 00507767 2022-09-30 00507767 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-09-30 00507767 core:CurrentFinancialInstruments 2022-09-30 00507767 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 00507767 core:Non-currentFinancialInstruments 2022-09-30 00507767 core:Non-currentFinancialInstruments core:AfterOneYear 2022-09-30 00507767 core:PatentsTrademarksLicencesConcessionsSimilar 2022-09-30 00507767 core:FurnitureFittingsToolsEquipment 2022-09-30 00507767 core:LandBuildings 2022-09-30 00507767 core:MotorVehicles 2022-09-30 00507767 core:OtherPropertyPlantEquipment 2022-09-30 00507767 core:OtherRelatedParties 2022-09-30 00507767 core:OtherRelatedParties 2021-10-01 2022-09-30 00507767 2021-09-30 00507767 core:OtherRelatedParties 2021-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 00507767

Aylesby Manor Farms Limited

Unaudited Filleted Financial Statements

for the Period from 1 October 2022 to 29 September 2023

 

Aylesby Manor Farms Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Aylesby Manor Farms Limited

Company Information

Directors

P M Spilman

D A J Spilman

Registered office

Aylesby Manor
Aylesby
Grimsby
N E Lincs
DN37 7AW

Solicitors

Wilkin Chapman
17 Cornmarket
Louth
Lincolnshire
LN11 9QA

 

Aylesby Manor Farms Limited

(Registration number: 00507767)
Balance Sheet as at 29 September 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

573

912

Tangible assets

5

2,274,880

2,318,205

Other financial assets

6

30

30

 

2,275,483

2,319,147

Current assets

 

Stocks

7

319,685

429,388

Debtors

8

240,318

218,396

Cash at bank and in hand

 

1,312

43,381

 

561,315

691,165

Creditors: Amounts falling due within one year

9

(642,766)

(690,562)

Net current (liabilities)/assets

 

(81,451)

603

Total assets less current liabilities

 

2,194,032

2,319,750

Creditors: Amounts falling due after more than one year

9

(1,618,224)

(1,695,852)

Provisions for liabilities

(34,617)

(38,620)

Net assets

 

541,191

585,278

Capital and reserves

 

Called up share capital

10

20,000

20,000

Revaluation reserve

113,769

120,332

Retained earnings

407,422

444,946

Shareholders' funds

 

541,191

585,278

For the financial period ending 29 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 September 2024 and signed on its behalf by:
 

.........................................
D A J Spilman
Director

   
     
 

Aylesby Manor Farms Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 00507767.

The address of its registered office is:
Aylesby Manor
Aylesby
Grimsby
N E Lincs
DN37 7AW

These financial statements were authorised for issue by the Board on 19 September 2024.

These financial statements cover the individual entity, Aylesby Manor Farms Limited.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

The financial statements are prepared in Sterling which is the functional currency of the Company and have been expressed rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis.

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 sales/value added tax, returns, rebates and discounts.

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.

 

Aylesby Manor Farms Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023

Government grants

FRS 102 1A requires grants towards fixed assets, if material, to be credited to a deferred income account, to be released to the profit and loss account over the useful life of the asset in question.

However, the directors consider that the grant received in 2004 and 2005, amounting to £34,447, is not significant in the context of the company's financial statements and on the grounds of practicality and materiality have reduced the renovation cost of the building by this amount. This along with the cost of renovations are being released to the profit and loss account over the useful life of the asset.

Basic payment scheme is received in respect of calendar years. Receipt is contingent upon meeting certain eligibility criteria. Once the criteria have been met, the income is recognised on a time apportioned basis over the calendar year to which it relates.

Government grants which become 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 as income in the period in which they become receivable.

Tax

The tax expense for the period comprises current and deferred 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 income 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 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 ofdeferred 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
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.

Tangible assets

Tangible assets are stated in the statement of financial position 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

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:

Asset class

Depreciation method and rate

Land and buildings

3% per annum of cost or valuation

Plant and machinery

15% and 20% per annum of net book value

Motor vehicles

25% per annum of net book value

 

Aylesby Manor Farms Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Entitlements

33% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

The basis of valuation is as follows:

Raw materials and consumables are stated at the lower of cost or net realisable value.
Tenantright is calculated by a combination of actual costs incurred and standard costs.

Standard costings used are based upon calculation prepared by the Central Association of Agricultural Valuers.

The basis of valuation is consistent with previous years.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the period, was 4 (2022 - 4).

 

Aylesby Manor Farms Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023

4

Intangible assets

BPS Entitlements
£

Total
£

Cost or valuation

At 1 October 2022

42,302

42,302

At 29 September 2023

42,302

42,302

Amortisation

At 1 October 2022

41,390

41,390

Amortisation charge

339

339

At 29 September 2023

41,729

41,729

Carrying amount

At 29 September 2023

573

573

At 30 September 2022

912

912

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2022

2,817,103

80,819

8,050

294,062

3,200,034

Additions

-

-

-

3,214

3,214

At 29 September 2023

2,817,103

80,819

8,050

297,276

3,203,248

Depreciation

At 1 October 2022

614,045

8,082

7,245

252,457

881,829

Charge for the period

32,992

7,274

201

6,072

46,539

At 29 September 2023

647,037

15,356

7,446

258,529

928,368

Carrying amount

At 29 September 2023

2,170,066

65,463

604

38,747

2,274,880

At 30 September 2022

2,203,058

72,737

805

41,605

2,318,205

 

Aylesby Manor Farms Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 October 2022

30

30

At 29 September 2023

30

30

Carrying amount

At 29 September 2023

30

30

7

Stocks

2023
£

2022
£

Farm valuation

319,685

429,388

8

Debtors

Current

2023
£

2022
£

Trade debtors

33,384

12,927

Prepayments

20,355

27,407

Other debtors

186,579

178,062

 

240,318

218,396

 

Aylesby Manor Farms Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

11

290,052

245,372

Trade creditors

 

202,138

279,362

Taxation and social security

 

931

42,991

Other creditors

 

72,405

56,465

Accruals and deferred income

 

77,240

66,372

 

642,766

690,562

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Bank loans

11

1,618,224

1,695,852

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

20,000

20,000

20,000

20,000

         

11

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

1,618,224

1,695,852

2023
£

2022
£

Current loans and borrowings

Bank borrowings

78,337

78,944

Bank overdrafts

211,715

166,428

290,052

245,372

Bank loans and overdrafts totalling £1,908,276 (2022: £1,941,224) are secured on the assets of the company.

Amounts due by installments after five years amount to £1,329,877 (2022: £1,457,352).

 

Aylesby Manor Farms Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023

12

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £73,000 (2022 - £73,000).

13

Related party transactions

Summary of transactions with other related parties

The directors
 

Loans to related parties

2023

Other related parties
£

Total
£

At start of period

66,526

66,526

Advanced

43,859

43,859

Repaid

(69,994)

(69,994)

At end of period

40,391

40,391

2022

Other related parties
£

Total
£

At start of period

45,373

45,373

Advanced

53,148

53,148

Repaid

(31,995)

(31,995)

At end of period

66,526

66,526