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Registration number: 00978168

Blewburton Farms Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 January 2024 to 30 September 2024

 

Blewburton Farms Limited
(Registration number: 00978168)

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 12

 

Blewburton Farms Limited
(Registration number: 00978168)

Company Information

Directors

Mr M A C Rabett

Mr J G Rix

Registered office

Depden Hall
Depden
Bury St Edmunds
Suffolk
IP29 4BY

Registered number

00978168

Accountants

Evolve Tax & Accountancy LLP
Chartered Certified Accountants
Baythorne Hall
Baythorne End
Halstead
Essex
CO9 4AH

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of Blewburton Farms Limited
for the Period Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Blewburton Farms Limited for the period ended 30 September 2024 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at:
https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Blewburton Farms Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Blewburton Farms Limited and state those matters that we have agreed to state to the Board of Directors of Blewburton Farms Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at:
http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/october/factsheet-
163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Blewburton Farms Limited and its Board of Directors as a body for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the accounts of Blewburton Farms 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 accounts.

......................................

Evolve Tax & Accountancy LLP
Chartered Certified Accountants
Baythorne Hall
Baythorne End
Halstead
Essex
CO9 4AH

18 October 2024

 

Blewburton Farms Limited
(Registration number: 00978168)

Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

1,835,000

6,152,330

Other financial assets

5

-

110

 

1,835,000

6,152,440

Current assets

 

Stocks

6

-

11,681

Debtors

7

2,531

179,648

Cash at bank and in hand

 

3,274,831

-

 

3,277,362

191,329

Creditors: Amounts falling due within one year

8

(375,361)

(413,273)

Net current assets/(liabilities)

 

2,902,001

(221,944)

Total assets less current liabilities

 

4,737,001

5,930,496

Creditors: Amounts falling due after more than one year

8

-

(27,763)

Provisions for liabilities

-

(1,080,380)

Net assets

 

4,737,001

4,822,353

Capital and Reserves

 

Called up share capital

9

100

100

Revaluation reserve

-

4,552,772

Retained Earnings

4,736,901

269,481

Shareholders' funds

 

4,737,001

4,822,353

 

Blewburton Farms Limited
(Registration number: 00978168)

Balance Sheet as at 30 September 2024

For the financial period ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 October 2024 and signed on its behalf by:
 

.........................................
Mr M A C Rabett
Director

 

Blewburton Farms Limited
(Registration number: 00978168)

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Depden Hall
Depden
Bury St Edmunds
Suffolk
IP29 4BY

The principal place of business is:
Depden Hall
Depden
Bury St Edmunds
Suffolk
IP29 4BY

These financial statements were authorised for issue by the Board on 18 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

Blewburton Farms Limited
(Registration number: 00978168)

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 September 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land and buildings

Directors' valuation

Plant and machinery

15% reducing balance

Motor vehicles

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Blewburton Farms Limited
(Registration number: 00978168)

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 September 2024

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade Creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Blewburton Farms Limited
(Registration number: 00978168)

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 September 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 1 (2023 - 1).

 

Blewburton Farms Limited
(Registration number: 00978168)

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 September 2024

4

Tangible Assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

6,085,000

37,140

376,054

6,498,194

Revaluations

(3,798,152)

-

-

(3,798,152)

Disposals

(451,848)

(37,140)

(376,054)

(865,042)

At 30 September 2024

1,835,000

-

-

1,835,000

Depreciation

At 1 January 2024

-

31,942

313,922

345,864

Eliminated on disposal

-

(31,942)

(313,922)

(345,864)

At 30 September 2024

-

-

-

-

Carrying amount

At 30 September 2024

1,835,000

-

-

1,835,000

At 31 December 2023

6,085,000

5,198

62,132

6,152,330

Included within the net book value of land and buildings above is £1,835,000 (2023 - £6,085,000) in respect of freehold land and buildings.
 

 

Blewburton Farms Limited
(Registration number: 00978168)

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 September 2024

5

Other financial assets (current and non-current)

Non-current financial assets

Cost or valuation

Impairment

Carrying amount

At 30 September 2024

6

Stocks

2024
£

2023
£

Other inventories

-

11,681

7

Debtors

The directors have reviewed trade debtors for impairment and consider the impairment losses to be provided for the period are £Nil (2023 - £Nil)

All amounts are due within one year.

Current

2024
£

2023
£

Trade Debtors

-

104,261

Prepayments

-

70,845

Other debtors

2,531

4,542

 

2,531

179,648

 

Blewburton Farms Limited
(Registration number: 00978168)

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 September 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

-

197,561

Trade Creditors

 

-

50,317

Taxation and social security

 

340,261

-

Accruals and deferred income

 

20,000

49,435

Other creditors

 

15,100

115,960

 

375,361

413,273

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

-

27,763

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A of £1 each

50

50

50

50

Ordinary B of £1 each

50

50

50

50

 

100

100

100

100

 

Blewburton Farms Limited
(Registration number: 00978168)

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 September 2024

10

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

611,153

611,153

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

27,763

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

-

197,346

Hire purchase contracts

-

215

-

197,561