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REGISTERED NUMBER: 00385147 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Lanz Farm Ltd

Lanz Farm Ltd (Registered number: 00385147)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lanz Farm Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: D J Hepsworth
R J Tomes





SECRETARY: N C Pausey





REGISTERED OFFICE: Galleymead House
Poyle New Cottages
Old Bath Road
Colnbrook
Berkshire
SL3 0NT





REGISTERED NUMBER: 00385147 (England and Wales)





ACCOUNTANTS: Wilson Partners Limited
Chartered Accountants
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN

Lanz Farm Ltd (Registered number: 00385147)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,585,006 3,889,720

CURRENT ASSETS
Stocks 32,453 48,208
Debtors 5 4,502,926 2,368,802
Cash at bank 952,911 2,636,297
5,488,290 5,053,307
CREDITORS
Amounts falling due within one year 6 (563,801 ) (707,694 )
NET CURRENT ASSETS 4,924,489 4,345,613
TOTAL ASSETS LESS CURRENT LIABILITIES 8,509,495 8,235,333

CREDITORS
Amounts falling due after more than one year 7 (121,029 ) (288,155 )

PROVISIONS FOR LIABILITIES (366,000 ) (412,000 )
NET ASSETS 8,022,466 7,535,178

CAPITAL AND RESERVES
Called up share capital 40,000 40,000
Retained earnings 7,982,466 7,495,178
8,022,466 7,535,178

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

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

Lanz Farm Ltd (Registered number: 00385147)

Balance Sheet - continued
31 January 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 17 October 2024 and were signed on its behalf by:





D J Hepsworth - Director


Lanz Farm Ltd (Registered number: 00385147)

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

1. STATUTORY INFORMATION

Lanz Farm Ltd 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.

The accounts are prepared on a going concern basis as in the opinion of the directors the company has sufficient finance available to it to meet its obligations as they fall due for the foreseeable future, that is at least 12 months from the date of approval of the accounts.

Significant judgements and estimates
In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The company does not make significant estimates and assumptions concerning the future that affect the position shown in the accounts.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - at varying rates on cost
Fixtures and fittings - at varying rates on cost
Motor vehicles - at varying rates on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Lanz Farm Ltd (Registered number: 00385147)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

Lanz Farm Ltd (Registered number: 00385147)

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

2. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 29 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 2,492,097 4,523,751 7,015,848
Additions - 194,430 194,430
Disposals (21,752 ) (193,499 ) (215,251 )
At 31 January 2024 2,470,345 4,524,682 6,995,027
DEPRECIATION
At 1 February 2023 794,941 2,331,187 3,126,128
Charge for year 41,109 405,741 446,850
Eliminated on disposal - (162,957 ) (162,957 )
At 31 January 2024 836,050 2,573,971 3,410,021
NET BOOK VALUE
At 31 January 2024 1,634,295 1,950,711 3,585,006
At 31 January 2023 1,697,156 2,192,564 3,889,720

At 31 January 2023 the company's tangible assets are all stated at cost.

The company's obligations under hire purchase contracts amounting to £260,408 (2023: £513,197) are secured on the assets concerned.

Lanz Farm Ltd (Registered number: 00385147)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 February 2023 1,309,353
Additions 45,400
Transfer to ownership (583,384 )
At 31 January 2024 771,369
DEPRECIATION
At 1 February 2023 454,178
Charge for year 108,387
Transfer to ownership (287,343 )
At 31 January 2024 275,222
NET BOOK VALUE
At 31 January 2024 496,147
At 31 January 2023 855,175

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 661,628 660,324
Other debtors 3,841,298 1,708,478
4,502,926 2,368,802

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 8) 156,704 252,165
Trade creditors 240,209 298,082
Taxation and social security 68,598 27,242
Other creditors 88,290 120,205
563,801 707,694

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 17,325 27,123
Hire purchase contracts (see note 8) 103,704 261,032
121,029 288,155

Lanz Farm Ltd (Registered number: 00385147)

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

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.1.24 31.1.23
£    £   
Net obligations repayable:
Within one year 156,704 252,165
Between one and five years 103,704 261,032
260,408 513,197

Non-cancellable operating leases
31.1.24 31.1.23
£    £   
Within one year 19,062 52,396
Between one and five years 19,950 19,950
39,012 72,346

9. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 27,325 37,123

The company's bank loans and overdrafts are secured on the assets of the company.

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

At the balance sheet date, unpaid contributions of £3,858 (2023: £3,715) were payable to the scheme at the year end and are included in creditors.

11. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed directors and connected persons £16,726 (2023: £22,045) in respect of their current accounts with the company.

At the balance sheet date, the directors of the company had given a guarantee of £100,000 (2023: £100,000) to the company's bankers.

At the balance sheet date the company had advanced an interest free loan of £938,911 (2023: £868,411) to a company that is controlled by a director of the company.

At the balance sheet date the company had advanced an interest free loan of £2,300,010 (2023: £nil) to a company that is controlled by a director of the company.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D J Hepsworth.