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REGISTERED NUMBER: 00506165 (England and Wales)















H. CASSWELL AND SON (GOSBERTON) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






H. CASSWELL AND SON (GOSBERTON) LIMITED (REGISTERED NUMBER: 00506165)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


H. CASSWELL AND SON (GOSBERTON) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr K C Casswell
Mrs J A Casswell
Mr R C Casswell
Mr A C Casswell





SECRETARY: Mrs J A Casswell





REGISTERED OFFICE: Pond Farm
Rushy Drove
Donington
Spalding
Lincolnshire
PE11 4SF





REGISTERED NUMBER: 00506165 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR

H. CASSWELL AND SON (GOSBERTON) LIMITED (REGISTERED NUMBER: 00506165)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,367,872 1,355,011
Investments 6 3 3
1,367,875 1,355,014

CURRENT ASSETS
Valuation 68,824 93,544
Debtors 7 202,769 909,688
Cash at bank 318,123 689,409
589,716 1,692,641
CREDITORS
Amounts falling due within one year 8 191,387 560,901
NET CURRENT ASSETS 398,329 1,131,740
TOTAL ASSETS LESS CURRENT LIABILITIES 1,766,204 2,486,754

CREDITORS
Amounts falling due after more than one year 9 (64,162 ) (71,534 )

PROVISIONS FOR LIABILITIES (15,912 ) (12,450 )
NET ASSETS 1,686,130 2,402,770

CAPITAL AND RESERVES
Called up share capital 11 8,752 10,405
Capital redemption reserve 11,048 9,395
Retained earnings 1,666,330 2,382,970
SHAREHOLDERS' FUNDS 1,686,130 2,402,770

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.

H. CASSWELL AND SON (GOSBERTON) LIMITED (REGISTERED NUMBER: 00506165)

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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 4 October 2024 and were signed on its behalf by:





Mr K C Casswell - Director


H. CASSWELL AND SON (GOSBERTON) LIMITED (REGISTERED NUMBER: 00506165)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

H. Casswell and Son (Gosberton) 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.

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 represents net invoiced sales of produce and work done, excluding value added tax.

Sales of produce are recognised upon despatch. Revenue from work done is recognised on the day of completion of the work.

The Basic Farm Payment is recognised in the financial statements in accordance with current H M Revenue and Customs guidance.

Intangible assets
Intangible assets consist of entitlements to the basic payment. The entitlements are recognised at fair value and written off on a straight line basis over the period to 31 December 2019 when the scheme ends.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost and Nil
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stock is valued on basis consistent with that of previous years by professional valuers in accordance with HS232 Farm Stock Valuation.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


H. CASSWELL AND SON (GOSBERTON) LIMITED (REGISTERED NUMBER: 00506165)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 40,696
AMORTISATION
At 1 April 2023
and 31 March 2024 40,696
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

H. CASSWELL AND SON (GOSBERTON) LIMITED (REGISTERED NUMBER: 00506165)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 1,381,232 463,014 1,844,246
Additions - 37,840 37,840
Disposals - (108,510 ) (108,510 )
At 31 March 2024 1,381,232 392,344 1,773,576
DEPRECIATION
At 1 April 2023 80,464 408,771 489,235
Charge for year 723 22,309 23,032
Eliminated on disposal - (106,563 ) (106,563 )
At 31 March 2024 81,187 324,517 405,704
NET BOOK VALUE
At 31 March 2024 1,300,045 67,827 1,367,872
At 31 March 2023 1,300,768 54,243 1,355,011

Included in cost of land and buildings is freehold land of £ 1,299,804 (2023 - £ 1,299,804 ) which is not depreciated.

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 3
NET BOOK VALUE
At 31 March 2024 3
At 31 March 2023 3

7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 185,855 148,857
Other debtors 16,914 112,475
202,769 261,332

Amounts falling due after more than one year:
Other debtors - 648,356

Aggregate amounts 202,769 909,688

H. CASSWELL AND SON (GOSBERTON) LIMITED (REGISTERED NUMBER: 00506165)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,770 8,574
Hire purchase contracts - 4,578
Trade creditors 36,048 3,048
Taxation and social security 630 9,914
Other creditors 145,939 534,787
191,387 560,901

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 64,162 71,534

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 26,616 34,828

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 72,932 80,108
Hire purchase contracts - 4,578
72,932 84,686

Bank loan is secured against land Pond Farm, Rushy Drove, Donington, Spalding, along with all buildings and fixtures.Hire purchase amount is secured against the asset.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
Value £ £
7,118 A Ordinary £1 7,118 7,118
1,634 B Ordinary £1 1,634 1,634
1,653 C Ordinary £1 1,653
8,752 10,405

During the year the C ordinary shares were bought back by the company.