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REGISTERED NUMBER: 07810703 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024

FOR

HALL FARMING LIMITED

HALL FARMING LIMITED (REGISTERED NUMBER: 07810703)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 5 April 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


HALL FARMING LIMITED

COMPANY INFORMATION
for the year ended 5 April 2024







DIRECTORS: J Hall
Mrs D Hall
D Hall
J S Hall





REGISTERED OFFICE: Highfield Grange
Green Gate Lane
Thornton-le-Dale
Pickering
North Yorkshire
YO18 7LX





REGISTERED NUMBER: 07810703 (England and Wales)

HALL FARMING LIMITED (REGISTERED NUMBER: 07810703)

STATEMENT OF FINANCIAL POSITION
5 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,134 7,984
Property, plant and equipment 5 4,432,625 4,391,884
Investment property 6 409,484 409,484
4,847,243 4,809,352

CURRENT ASSETS
Inventories 966,804 879,392
Debtors 7 191,861 197,856
Investments 8 3,520 2,956
Cash at bank and in hand 585,705 10,914
1,747,890 1,091,118
CREDITORS
Amounts falling due within one year 9 2,041,483 1,952,144
NET CURRENT LIABILITIES (293,593 ) (861,026 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,553,650

3,948,326

CREDITORS
Amounts falling due after more than one year 10 (877,357 ) (870,060 )

PROVISIONS FOR LIABILITIES (409,002 ) (398,981 )
NET ASSETS 3,267,291 2,679,285

CAPITAL AND RESERVES
Called up share capital 60 60
Retained earnings 3,267,231 2,679,225
SHAREHOLDERS' FUNDS 3,267,291 2,679,285

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2024 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.

HALL FARMING LIMITED (REGISTERED NUMBER: 07810703)

STATEMENT OF FINANCIAL POSITION - continued
5 April 2024


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 20 September 2024 and were signed on its behalf by:





J S Hall - Director


HALL FARMING LIMITED (REGISTERED NUMBER: 07810703)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 5 April 2024


1. STATUTORY INFORMATION

Hall Farming 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.

Revenue
Revenue represents goods and services supplied, excluding value added tax.

Revenue is recognised to the extent that the company has obtained the right to consideration through its performance and is measured at the fair value of the right to consideration.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

BPS entitlements are being amortised evenly over their estimated useful life of two years.

Personalised number plates, less their estimated residual value, are being amortised evenly over their estimated useful life of twenty five years.

Property, plant and equipment
Tangible fixed assets are included at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Land and buildings-Land - 0%, Buildings - 5% straight line
Plant and machinery-25% on reducing balance
Tractors and ATVs-25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Inventories
Biological assets and agricultural produce are valued using the cost model. Other inventories are measured at the lower of cost and estimated selling price less costs to sell.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade, other accounts receivable and payable and loans to related parties.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised costs using the effective interest method.


HALL FARMING LIMITED (REGISTERED NUMBER: 07810703)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 5 April 2024


2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets acquired under finance lease agreements, including hire purchase agreements, are capitalised and the corresponding liability is included in creditors. Finance lease interest is charged to the profit and loss account on a sum of digits basis over the period of the agreement. Operating lease rentals are charged against profits of the period to which they relate.

Pension costs and other post-retirement benefits
Payments to defined contribution pension schemes are charged as an expense in the period to which they relate.

Going concern
The company has a net asset position and a healthy bank position and the directors are satisfied that there are sufficient resources in place to continue operating for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 6 April 2023
and 5 April 2024 12,926
AMORTISATION
At 6 April 2023 4,942
Charge for year 2,850
At 5 April 2024 7,792
NET BOOK VALUE
At 5 April 2024 5,134
At 5 April 2023 7,984

HALL FARMING LIMITED (REGISTERED NUMBER: 07810703)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 5 April 2024


5. PROPERTY, PLANT AND EQUIPMENT
Land and Plant and Tractors
buildings machinery and ATVs Totals
£    £    £    £   
COST
At 6 April 2023 4,125,653 1,511,540 716,580 6,353,773
Additions 18,965 77,934 360,064 456,963
Disposals - (12,718 ) (205,950 ) (218,668 )
At 5 April 2024 4,144,618 1,576,756 870,694 6,592,068
DEPRECIATION
At 6 April 2023 675,509 921,051 365,329 1,961,889
Charge for year 74,565 156,213 79,176 309,954
Eliminated on disposal - (8,460 ) (103,940 ) (112,400 )
At 5 April 2024 750,074 1,068,804 340,565 2,159,443
NET BOOK VALUE
At 5 April 2024 3,394,544 507,952 530,129 4,432,625
At 5 April 2023 3,450,144 590,489 351,251 4,391,884

The net book value of property, plant and equipment includes £ 273,115 (2023 - £ 272,234 ) in respect of assets held under hire purchase contracts.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 6 April 2023
and 5 April 2024 409,484
NET BOOK VALUE
At 5 April 2024 409,484
At 5 April 2023 409,484

Investment property was valued by the directors on an open market basis on 5 April 2024.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 60,684 125,471
Other debtors 131,177 72,385
191,861 197,856

8. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Unlisted investments 3,520 2,956

HALL FARMING LIMITED (REGISTERED NUMBER: 07810703)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 5 April 2024


9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 27,120 25,548
Hire purchase contracts 54,858 84,438
Trade creditors 396,105 242,457
Taxation and social security 221,917 133,165
Other creditors 1,341,483 1,466,536
2,041,483 1,952,144

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 767,940 870,060
Hire purchase contracts 109,417 -
877,357 870,060

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years repayable by
instalments

643,394

752,165

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 795,060 895,608
Hire purchase contracts 164,275 84,438
959,335 980,046

The bank loan is secured by a legal charge over land owned by the company and a debenture over the whole property, assets and rights of the company. Hire purchase creditors are secured on the relevant underlying assets.

12. RELATED PARTY DISCLOSURES

The company occupies, rent free, land and buildings owned by the directors.

There are legal charges in favour of the bank loan over land owned by the directors. In addition the directors have given personal guarantees.