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REGISTERED NUMBER: 00688486 (England and Wales)















RIGBOLT FARMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






RIGBOLT FARMS LIMITED (REGISTERED NUMBER: 00688486)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


RIGBOLT FARMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: N J Ostler
Mrs J Ostler





SECRETARY: Mrs J Ostler





REGISTERED OFFICE: Rigbolt House
West Pinchbeck
Spalding
Lincolnshire
PE11 3QR





REGISTERED NUMBER: 00688486 (England and Wales)





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

RIGBOLT FARMS LIMITED (REGISTERED NUMBER: 00688486)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 586,914 557,775
Investments 6 6,662 6,662
593,576 564,437

CURRENT ASSETS
Valuation 105,483 137,854
Debtors 7 33,288 51,883
Cash at bank 37,226 18,750
175,997 208,487
CREDITORS
Amounts falling due within one year 8 203,478 153,396
NET CURRENT (LIABILITIES)/ASSETS (27,481 ) 55,091
TOTAL ASSETS LESS CURRENT LIABILITIES 566,095 619,528

CREDITORS
Amounts falling due after more than one year 9 (103,250 ) (124,250 )

PROVISIONS FOR LIABILITIES (34,458 ) (34,788 )
NET ASSETS 428,387 460,490

CAPITAL AND RESERVES
Called up share capital 11 5,000 5,000
Retained earnings 423,387 455,490
SHAREHOLDERS' FUNDS 428,387 460,490

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

RIGBOLT FARMS LIMITED (REGISTERED NUMBER: 00688486)

STATEMENT OF FINANCIAL POSITION - continued
30 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 and authorised for issue by the Board of Directors and authorised for issue on 17 October 2024 and were signed on its behalf by:





Mrs J Ostler - Director


RIGBOLT FARMS LIMITED (REGISTERED NUMBER: 00688486)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Rigbolt Farms 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 & Customs guidance.

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.

SFP entitlements are being amortised evenly over their estimated useful life of nil years.

Basic Farm entitlements are being amortised evenly over their estimated useful life of nil years.

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 etc - 40% on reducing balance, 20% on reducing balance and 10% 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.

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.

Stocks
Stock is valued on basis consistent with that of previous year 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.


RIGBOLT FARMS LIMITED (REGISTERED NUMBER: 00688486)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 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.

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 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023
and 30 April 2024 36,438
AMORTISATION
At 1 May 2023
and 30 April 2024 36,438
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

RIGBOLT FARMS LIMITED (REGISTERED NUMBER: 00688486)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 480,763 380,783 861,546
Additions - 147,086 147,086
Disposals - (87,000 ) (87,000 )
At 30 April 2024 480,763 440,869 921,632
DEPRECIATION
At 1 May 2023 62,140 241,631 303,771
Charge for year 172 73,231 73,403
Eliminated on disposal - (42,456 ) (42,456 )
At 30 April 2024 62,312 272,406 334,718
NET BOOK VALUE
At 30 April 2024 418,451 168,463 586,914
At 30 April 2023 418,623 139,152 557,775

Included in cost of land and buildings is freehold land of £ 416,904 (2023 - £ 416,904 ) which is not depreciated.

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2023
and 30 April 2024 6,687
PROVISIONS
At 1 May 2023
and 30 April 2024 25
NET BOOK VALUE
At 30 April 2024 6,662
At 30 April 2023 6,662

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,029 29,110
Other debtors 26,259 22,773
33,288 51,883

RIGBOLT FARMS LIMITED (REGISTERED NUMBER: 00688486)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 12,000 12,000
Trade creditors 18,791 18,726
Taxation and social security 502 21,599
Other creditors 172,185 101,071
203,478 153,396

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 73,250 94,250
Other creditors 30,000 30,000
103,250 124,250

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years by instalments 25,250 46,250

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 85,250 106,250

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4,300 A Ordinary £1 4,300 4,300
150 B Ordinary £1 150 150
300 C Ordinary £1 300 300
250 D Ordinary £1 250 250
5,000 5,000