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REGISTERED NUMBER: 01918366 (England and Wales)













Financial Statements

for the Year Ended 29 February 2024

for

H. & S. Roe & Sons Farms Limited

H. & S. Roe & Sons Farms Limited (Registered number: 01918366)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


H. & S. Roe & Sons Farms Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr S P Roe
Mr H J Roe
Mrs W J Roe
Mrs S M O Roe
Miss H P Dunn
Miss C H Shaw
Miss I C Lister
Miss R P Roe
Mr S H D Roe
Miss E E Roe
Mrs R Moseley


REGISTERED OFFICE: Roe House
Boundary Lane
South Hykeham
LINCOLN
LN6 9NQ


REGISTERED NUMBER: 01918366 (England and Wales)


ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN


BANKERS: NatWest Bank Plc
225 High Street
LINCOLN
Lincolnshire
LN2 1AZ


SOLICITORS: Roythorne & Co
10 Pinchbeck Road
SPALDING
Lincs
PE11 1PZ

H. & S. Roe & Sons Farms Limited (Registered number: 01918366)

Statement of Financial Position
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,213,475 5,940,703

CURRENT ASSETS
Stocks 190,000 169,000
Debtors 5 2,993,002 2,934,021
Cash at bank and in hand 2,544,063 828,469
5,727,065 3,931,490
CREDITORS
Amounts falling due within one year 6 998,285 805,932
NET CURRENT ASSETS 4,728,780 3,125,558
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,942,255

9,066,261

PROVISIONS FOR LIABILITIES 649,942 558,828
NET ASSETS 9,292,313 8,507,433

CAPITAL AND RESERVES
Called up share capital 1,204 1,204
Retained earnings 9,291,109 8,506,229
SHAREHOLDERS' FUNDS 9,292,313 8,507,433

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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. & S. Roe & Sons Farms Limited (Registered number: 01918366)

Statement of Financial Position - continued
29 February 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 11 October 2024 and were signed on its behalf by:




Mr H J Roe - Director



Mr S P Roe - Director


H. & S. Roe & Sons Farms Limited (Registered number: 01918366)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

H. & S. Roe & Sons 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.

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated by the directors and are based on historical experience and other relevant factors, including expectations of future events that are believed to be reasonable under the circumstances.

Tangible fixed asset lives and residual values
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. Judgement is applied in determining the residual values of fixed assets by assessing the amount that the company would currently obtain for disposing of the asset in the condition it is expected to be in at the end of its useful life. The estimation of useful lives is based on historic performance as well as expectations about future use. Useful lives are reviewed to reflect current estimates of technological advancement, future investment policy, economic utilisation and the physical condition of the asset.

Tangible fixed assets acquired on finance agreements are depreciated over their estimated useful life.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Freehold land-Not provided
Freehold buildings-2% straight line
Plant & machinery-20% reducing balance
Motor vehicles-20% reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value.

The cost of harvested crops and tenantright includes all production overheads and the attributable proportion of indirect overheads based on the normal level of activity. Net realisable value is based on estimated selling price, less the estimated costs of disposal.

H. & S. Roe & Sons Farms Limited (Registered number: 01918366)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.

The interest element of these obligations is charged to the profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Leasing
Rental income from operating leases is recognised on a straight line basis over the term of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 26 ) .

H. & S. Roe & Sons Farms Limited (Registered number: 01918366)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 March 2023 4,120,302 7,069,645 370,007 11,559,954
Additions 50,515 1,761,585 16,999 1,829,099
Disposals (1,233,477 ) (707,997 ) (11,035 ) (1,952,509 )
At 29 February 2024 2,937,340 8,123,233 375,971 11,436,544
DEPRECIATION
At 1 March 2023 578,831 4,687,227 353,193 5,619,251
Charge for year 30,661 998,640 8,811 1,038,112
Eliminated on disposal - (423,259 ) (11,035 ) (434,294 )
At 29 February 2024 609,492 5,262,608 350,969 6,223,069
NET BOOK VALUE
At 29 February 2024 2,327,848 2,860,625 25,002 5,213,475
At 28 February 2023 3,541,471 2,382,418 16,814 5,940,703

Rental receivables from operating leases totalled £337,764 (2023 : £437,033).

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 March 2023 709,800
Additions 244,000
Transfer to ownership (234,000 )
At 29 February 2024 719,800
DEPRECIATION
At 1 March 2023 284,820
Charge for year 143,960
Charge written back (160,800 )
At 29 February 2024 267,980
NET BOOK VALUE
At 29 February 2024 451,820
At 28 February 2023 424,980

H. & S. Roe & Sons Farms Limited (Registered number: 01918366)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 277,578 375,131
Other debtors 178,000 -
Owed by related parties 2,247,162 2,325,071
VAT 4,487 -
Prepayments and accrued income 285,775 233,819
2,993,002 2,934,021

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 255,219 201,157
Trade creditors 395,077 327,299
Tax 162,510 187,899
Social security and other taxes 22,420 16,486
VAT - 12,619
Other creditors 11,854 26,104
Directors' current accounts 102,205 12,618
Accruals and deferred income 49,000 21,750
998,285 805,932

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 255,219 201,157

The hire purchase debt is secured on the assets purchased on hire purchase. The bank loan is secured on the company's assets.

8. RELATED PARTY DISCLOSURES

Included in debtors was a balance of £2,247,162 (2023: £2,325,071) owed by Tennyson Homes Limited. Tennyson Homes Limited is a company in which the directors or their family members are shareholders. These balances are on an unsecured interest free basis, repayable on demand.

The directors of the company are all trustees of the Roe Group Pension Scheme.