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REGISTERED NUMBER: 06852077 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Hundreds Farm Limited

Hundreds Farm Limited (Registered number: 06852077)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 8


Hundreds Farm Limited

Company Information
for the Year Ended 31 March 2024







Directors: J Woodroffe
L J Woodroffe





Registered office: 3 Hundreds Road
Crowland
Peterborough
Cambridgeshire
PE6 0LG





Registered number: 06852077 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Hundreds Farm Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hundreds Farm Limited for the year ended 31 March 2024 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Hundreds Farm Limited, as a body, in accordance with the terms of our engagement letter dated 22 June 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Hundreds Farm Limited and state those matters that we have agreed to state to the Board of Directors of Hundreds Farm Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hundreds Farm Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Hundreds Farm Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hundreds Farm Limited. You consider that Hundreds Farm Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hundreds Farm Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


9 October 2024

Hundreds Farm Limited (Registered number: 06852077)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 5 - -
Tangible assets 6 1,021,371 868,550
1,021,371 868,550

Current assets
Stocks 1,054,226 510,778
Debtors 7 272,073 107,990
Cash at bank 1,922,827 1,385,762
3,249,126 2,004,530
Creditors
Amounts falling due within one year 8 485,727 178,166
Net current assets 2,763,399 1,826,364
Total assets less current liabilities 3,784,770 2,694,914

Creditors
Amounts falling due after more than one
year

9

(20,333

)

(8,651

)

Provisions for liabilities (144,548 ) (101,167 )
Net assets 3,619,889 2,585,096

Capital and reserves
Called up share capital 11 51 51
Capital redemption reserve 49 49
Retained earnings 3,619,789 2,584,996
Shareholders' funds 3,619,889 2,585,096

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Hundreds Farm Limited (Registered number: 06852077)

Statement of Financial Position - continued
31 March 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2024 and were signed on its behalf by:




J Woodroffe - Director



L J Woodroffe - Director


Hundreds Farm Limited (Registered number: 06852077)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. Statutory information

Hundreds 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. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Tractors - 25% on reducing balance

Hundreds Farm Limited (Registered number: 06852077)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. Accounting policies - continued

Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model and the performance model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are 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 in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Under the performance model, where the grant does not impose specified future performance related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

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 Statement of Income and Retained Earnings, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Hundreds Farm Limited (Registered number: 06852077)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. Accounting policies - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. Employees and directors

The average number of employees during the year was 5 (2023 - 5 ) .

5. Intangible fixed assets
Goodwill
£   
Cost
At 1 April 2023
and 31 March 2024 470,000
Amortisation
At 1 April 2023
and 31 March 2024 470,000
Net book value
At 31 March 2024 -
At 31 March 2023 -

6. Tangible fixed assets
Freehold Plant and
property machinery Tractors Totals
£    £    £    £   
Cost
At 1 April 2023 574,915 1,644,471 235,598 2,454,984
Additions 8,040 77,842 315,000 400,882
Disposals - (81,290 ) (210,098 ) (291,388 )
At 31 March 2024 582,955 1,641,023 340,500 2,564,478
Depreciation
At 1 April 2023 114,607 1,274,535 197,292 1,586,434
Charge for year 28,746 94,226 78,902 201,874
Eliminated on disposal - (72,803 ) (172,398 ) (245,201 )
At 31 March 2024 143,353 1,295,958 103,796 1,543,107
Net book value
At 31 March 2024 439,602 345,065 236,704 1,021,371
At 31 March 2023 460,308 369,936 38,306 868,550

Hundreds Farm Limited (Registered number: 06852077)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 239,410 47,372
VAT - 5,557
Prepayments and accrued income 32,663 55,061
272,073 107,990

8. Creditors: amounts falling due within one year
2024 2023
£    £   
Hire purchase contracts 59,318 17,302
Trade creditors 31,013 38,877
Tax 321,247 110,279
Social security and other taxes 1,180 1,496
VAT 18,835 -
Other creditors 15,775 116
Directors' loan accounts 4,911 7,146
Accruals and deferred income 33,448 2,950
485,727 178,166

9. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Hire purchase contracts 20,333 8,651

10. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 79,651 25,953

Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
49 Ordinary A £1 49 49
2 Ordinary B £1 2 2
51 51