IRIS Accounts Production v24.3.0.553 01343050 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh013430502023-03-31013430502024-03-31013430502023-04-012024-03-31013430502022-03-31013430502022-04-012023-03-31013430502023-03-3101343050ns15:EnglandWales2023-04-012024-03-3101343050ns14:PoundSterling2023-04-012024-03-3101343050ns10:Director12023-04-012024-03-3101343050ns10:Director22023-04-012024-03-3101343050ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3101343050ns10:SmallEntities2023-04-012024-03-3101343050ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3101343050ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3101343050ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3101343050ns10:FullAccounts2023-04-012024-03-3101343050ns10:Director32023-04-012024-03-3101343050ns10:CompanySecretary12023-04-012024-03-3101343050ns10:RegisteredOffice2023-04-012024-03-3101343050ns5:CurrentFinancialInstruments2024-03-3101343050ns5:CurrentFinancialInstruments2023-03-3101343050ns5:Non-currentFinancialInstruments2024-03-3101343050ns5:Non-currentFinancialInstruments2023-03-3101343050ns5:ShareCapital2024-03-3101343050ns5:ShareCapital2023-03-3101343050ns5:SharePremium2024-03-3101343050ns5:SharePremium2023-03-3101343050ns5:RevaluationReserve2024-03-3101343050ns5:RevaluationReserve2023-03-3101343050ns5:RetainedEarningsAccumulatedLosses2024-03-3101343050ns5:RetainedEarningsAccumulatedLosses2023-03-3101343050ns5:LandBuildings2023-03-3101343050ns5:PlantMachinery2023-03-3101343050ns5:MotorVehicles2023-03-3101343050ns5:LandBuildings2023-04-012024-03-3101343050ns5:PlantMachinery2023-04-012024-03-3101343050ns5:MotorVehicles2023-04-012024-03-3101343050ns5:LandBuildings2024-03-3101343050ns5:PlantMachinery2024-03-3101343050ns5:MotorVehicles2024-03-3101343050ns5:LandBuildings2023-03-3101343050ns5:PlantMachinery2023-03-3101343050ns5:MotorVehicles2023-03-3101343050ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3101343050ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3101343050ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3101343050ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3101343050ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-3101343050ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-03-3101343050ns5:HirePurchaseContracts2024-03-3101343050ns5:HirePurchaseContracts2023-03-3101343050ns5:WithinOneYear2024-03-3101343050ns5:WithinOneYear2023-03-3101343050ns5:BetweenOneFiveYears2024-03-3101343050ns5:BetweenOneFiveYears2023-03-3101343050ns5:MoreThanFiveYears2024-03-3101343050ns5:MoreThanFiveYears2023-03-3101343050ns5:AllPeriods2024-03-3101343050ns5:AllPeriods2023-03-3101343050ns5:RevaluationReserve2023-03-31
REGISTERED NUMBER: 01343050 (England and Wales)






















Northern Crop Driers Limited

Unaudited Financial Statements for the Year Ended 31st March 2024






Northern Crop Driers Limited (Registered number: 01343050)






Contents of the Financial Statements
for the year ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Northern Crop Driers Limited

Company Information
for the year ended 31st March 2024







DIRECTORS: Mrs P F Dear
E J Rowbottom
J R Rowbottom





SECRETARY: Mrs P F Dear





REGISTERED OFFICE: Melrose Farm
Melbourne
York
East Yorkshire
YO42 4SS





REGISTERED NUMBER: 01343050 (England and Wales)





ACCOUNTANTS: Smailes Goldie Limited
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Northern Crop Driers Limited (Registered number: 01343050)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 738,162 986,448
Investment property 5 2,083,314 2,083,314
2,821,476 3,069,762

CURRENT ASSETS
Stocks 297,755 194,640
Debtors 6 167,399 265,791
Cash at bank and in hand 1,514,800 1,262,204
1,979,954 1,722,635
CREDITORS
Amounts falling due within one year 7 578,307 646,076
NET CURRENT ASSETS 1,401,647 1,076,559
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,223,123

4,146,321

CREDITORS
Amounts falling due after more than one
year

8

-

(20,625

)

PROVISIONS FOR LIABILITIES (158,434 ) (209,292 )
NET ASSETS 4,064,689 3,916,404

CAPITAL AND RESERVES
Called up share capital 480 480
Share premium 345,046 345,046
Revaluation reserve 10 444,568 444,568
Retained earnings 3,274,595 3,126,310
4,064,689 3,916,404

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

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

Northern Crop Driers Limited (Registered number: 01343050)

Balance Sheet - continued
31st 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 by the Board of Directors and authorised for issue on 18th October 2024 and were signed on its behalf by:




Mrs P F Dear - Director



E J Rowbottom - Director


Northern Crop Driers Limited (Registered number: 01343050)

Notes to the Financial Statements
for the year ended 31st March 2024

1. STATUTORY INFORMATION

Northern Crop Driers 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
The financial statements have been prepared in accordance with applicable accounting standards including Section 1A of Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

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

Turnover
Turnover represents sales of farm produce and associated income, net of VAT and trade discounts. Turnover is recognised when the economic risks and rewards pass to third parties, usually on the dispatch of goods.

Tangible fixed assets
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.

Depreciation
Depreciation of fixed assets is charged by annual instalments commencing with the year of acquisition at rates estimated to write off their cost less any residual value over the expected useful lives.

The annual rates used are as follows:

Freehold landNil
Land and buildings10% on cost
Plant and machinery15% to 20% on cost
Motor vehicles25% on cost

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in statement of comprehensive income.

Stocks
Stocks, including biological assets, are stated at the lower of cost and net realisable value. Cost is determined using the first-in, first-out (FIFO) method and represents costs incurred to date to bring growing crops and finished produce to its current state. Net realisable value is estimated selling price in the ordinary course of business, less applicable variable selling expenses.


Northern Crop Driers Limited (Registered number: 01343050)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current and past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 and other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Tangible fixed assets acquired under hire purchase agreements are capitalised at the estimated fair value at the date of inception of each contract. The finance charges are allocated over the period of the contract in accordance with the straight line method.

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.

Debtors and creditors receivable/ payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Government grants
Amounts receivable under the Common Agricultural Policy subsidy schemes are recognised as income in the profit and loss account when the eligibility criteria have been satisfied at the end of the scheme year.

Northern Crop Driers Limited (Registered number: 01343050)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Freehold
Land & Plant and Motor
Buildings machinery vehicles Totals
£    £    £    £   
COST
At 1st April 2023 717,364 2,805,565 131,382 3,654,311
Additions - 1,025 - 1,025
Disposals - (16,306 ) - (16,306 )
At 31st March 2024 717,364 2,790,284 131,382 3,639,030
DEPRECIATION
At 1st April 2023 423,527 2,198,420 45,916 2,667,863
Charge for year 29,685 197,588 22,034 249,307
Eliminated on disposal - (16,302 ) - (16,302 )
At 31st March 2024 453,212 2,379,706 67,950 2,900,868
NET BOOK VALUE
At 31st March 2024 264,152 410,578 63,432 738,162
At 31st March 2023 293,837 607,145 85,466 986,448

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023
and 31st March 2024 2,083,314
NET BOOK VALUE
At 31st March 2024 2,083,314
At 31st March 2023 2,083,314

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2023 2,083,314

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 135,475 231,657
Other debtors - 30,000
VAT 8,670 -
Prepayments and accrued income 23,254 4,134
167,399 265,791

Northern Crop Driers Limited (Registered number: 01343050)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 20,625 20,625
Trade creditors 310,333 229,577
Tax 162,240 164,433
Social security and other taxes 2,861 2,919
VAT - 3,080
Other creditors 20,881 159,629
Directors' current accounts 15,575 20,962
Accrued expenses and deferred income 45,792 44,851
578,307 646,076

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) - 20,625

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 20,625 20,625
Between one and five years - 20,625
20,625 41,250

Non-cancellable operating leases
2024 2023
£    £   
Within one year 53,200 53,200
Between one and five years 120,000 120,000
In more than five years 270,000 300,000
443,200 473,200

10. RESERVES
Revaluation
reserve
£   
At 1st April 2023
and 31st March 2024 444,568