Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-112023-10-11false32022-10-12falseNo description of principal activity3falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00412488 2022-10-12 2023-10-11 00412488 2021-10-12 2022-10-11 00412488 2023-10-11 00412488 2022-10-11 00412488 1 2022-10-12 2023-10-11 00412488 1 2021-10-12 2022-10-11 00412488 d:Director6 2022-10-12 2023-10-11 00412488 e:Buildings 2022-10-12 2023-10-11 00412488 e:Buildings 2023-10-11 00412488 e:Buildings 2022-10-11 00412488 e:Buildings e:OwnedOrFreeholdAssets 2022-10-12 2023-10-11 00412488 e:PlantMachinery 2022-10-12 2023-10-11 00412488 e:PlantMachinery 2023-10-11 00412488 e:PlantMachinery 2022-10-11 00412488 e:PlantMachinery e:OwnedOrFreeholdAssets 2022-10-12 2023-10-11 00412488 e:OwnedOrFreeholdAssets 2022-10-12 2023-10-11 00412488 e:ComputerSoftware 2022-10-12 2023-10-11 00412488 e:ComputerSoftware 2023-10-11 00412488 e:ComputerSoftware 2022-10-11 00412488 e:CurrentFinancialInstruments 2023-10-11 00412488 e:CurrentFinancialInstruments 2022-10-11 00412488 e:CurrentFinancialInstruments e:WithinOneYear 2023-10-11 00412488 e:CurrentFinancialInstruments e:WithinOneYear 2022-10-11 00412488 e:UKTax 2022-10-12 2023-10-11 00412488 e:UKTax 2021-10-12 2022-10-11 00412488 e:ShareCapital 2023-10-11 00412488 e:ShareCapital 2022-10-11 00412488 e:CapitalRedemptionReserve 2022-10-12 2023-10-11 00412488 e:CapitalRedemptionReserve 2023-10-11 00412488 e:CapitalRedemptionReserve 2022-10-11 00412488 e:RetainedEarningsAccumulatedLosses 2022-10-12 2023-10-11 00412488 e:RetainedEarningsAccumulatedLosses 2023-10-11 00412488 e:RetainedEarningsAccumulatedLosses 2022-10-11 00412488 d:FRS102 2022-10-12 2023-10-11 00412488 d:AuditExempt-NoAccountantsReport 2022-10-12 2023-10-11 00412488 d:FullAccounts 2022-10-12 2023-10-11 00412488 d:PrivateLimitedCompanyLtd 2022-10-12 2023-10-11 00412488 2 2022-10-12 2023-10-11 00412488 4 2022-10-12 2023-10-11 00412488 6 2022-10-12 2023-10-11 00412488 f:PoundSterling 2022-10-12 2023-10-11 iso4217:GBP xbrli:pure

Registered number: 00412488










BANHAM FARMING CO LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 11 OCTOBER 2023

 
BANHAM FARMING CO LIMITED
REGISTERED NUMBER:00412488

STATEMENT OF FINANCIAL POSITION
AS AT 11 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 6 
309,165
287,131

Investments
 7 
10
10

  
309,175
287,141

Current assets
  

Stocks
  
93,524
84,665

Debtors: amounts falling due within one year
 8 
30,737
99,341

Cash at bank and in hand
  
267,657
52,569

  
391,918
236,575

Creditors: amounts falling due within one year
 9 
(92,722)
(115,483)

Net current assets
  
 
 
299,196
 
 
121,092

Total assets less current liabilities
  
608,371
408,233

Provisions for liabilities
  

Deferred tax
  
(1,229)
(167)

  
 
 
(1,229)
 
 
(167)

Net assets
  
607,142
408,066


Capital and reserves
  

Called up share capital 
  
5,187
5,187

Capital redemption reserve
 10 
2,813
2,813

Profit and loss account
 10 
599,142
400,066

  
607,142
408,066


Page 1

 
BANHAM FARMING CO LIMITED
REGISTERED NUMBER:00412488
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 11 OCTOBER 2023

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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement 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 by: 




................................................
G A Muller
Director

Date: 2 October 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
BANHAM FARMING CO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 11 OCTOBER 2023

1.


General information

Banham Farming Co Limited is a private company limited by shares and incorporated in England and Wales, registration number 00412488. The registered office is Wilby House Farm, Wilby, Norwich, Norfolk, NR16 2JP.

2.Accounting policies

 
2.1

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:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover 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 turnover 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

Turnover 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 turnover 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.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
BANHAM FARMING CO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 11 OCTOBER 2023

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

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 reporting 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 reporting 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 reporting date.

 
2.6

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

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 4

 
BANHAM FARMING CO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 11 OCTOBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using a combination of the straight line and reducing balance methods..

Depreciation is provided on the following basis:

Freehold property
-
10% on cost
Plant & machinery
-
15 - 25% on 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.

 
2.9

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Income statement for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods include labour and attributable overheads. Biological assets and living plants are included at cost.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

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.

 
2.12

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.

Page 5

 
BANHAM FARMING CO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 11 OCTOBER 2023

2.Accounting policies (continued)

 
2.13

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.

 
2.14

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.

 
2.15

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
14,395
5,456


14,395
5,456


Total current tax
14,395
5,456

Deferred tax


Fixed asset timing differences
1,062
(29)

Total deferred tax
1,062
(29)


Taxation on profit on ordinary activities
15,457
5,427
Page 6

 
BANHAM FARMING CO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 11 OCTOBER 2023
 
4.Taxation (continued)


Factors affecting tax charge for the year

There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of  19% (2022 - 19%).



5.


Intangible assets




BPS entitlements

£





At 12 October 2022
14,040


Disposals
(14,040)



At 11 October 2023

-





At 12 October 2022
14,040


On disposals
(14,040)



At 11 October 2023

-



Net book value



At 11 October 2023
-



At 11 October 2022
-



Page 7

 
BANHAM FARMING CO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 11 OCTOBER 2023

6.


Tangible fixed assets





Freehold property
Plant & machinery
Total

£
£
£



Cost or valuation


At 12 October 2022
353,417
8,764
362,181


Additions
31,871
459
32,330


Disposals
(41,077)
-
(41,077)



At 11 October 2023

344,211
9,223
353,434



Depreciation


At 12 October 2022
67,163
7,887
75,050


Charge for the year on owned assets
7,935
201
8,136


Disposals
(38,917)
-
(38,917)



At 11 October 2023

36,181
8,088
44,269



Net book value



At 11 October 2023
308,030
1,135
309,165



At 11 October 2022
286,254
877
287,131


7.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 12 October 2022
10



At 11 October 2023
10




Page 8

 
BANHAM FARMING CO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 11 OCTOBER 2023

8.


Debtors

2023
2022
£
£


Trade debtors
6,170
71,394

Other debtors
19,905
18,457

Prepayments and accrued income
4,662
9,490

30,737
99,341


Included within other debtors due within one year is a loan to a director, amounting to £4,000 (2022 - £4000). Amounts repaid during the year totalled £NIL.  The main conditions were as follows:

The loan is interest free and repayable on demand. 


9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
72,672
105,920

Corporation tax
14,395
5,456

Other taxation and social security
1,630
694

Accruals and deferred income
4,025
3,413

92,722
115,483



10.


Reserves

Capital redemption reserve

The capital redemption reserve records the nominal value of shares repurchased by the company.

Profit & loss account

The profit and loss account represents the company's accumulated profits which are available for distribution to members.


Page 9