Caseware UK (AP4) 2023.0.135 2023.0.135 false2023-04-01falseThe principal activity of the company is engaging in poultry and general farming2419truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00569751 2023-04-01 2024-03-31 00569751 2022-04-01 2023-03-31 00569751 2024-03-31 00569751 2023-03-31 00569751 c:Director1 2023-04-01 2024-03-31 00569751 d:Buildings 2023-04-01 2024-03-31 00569751 d:Buildings 2024-03-31 00569751 d:Buildings 2023-03-31 00569751 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00569751 d:PlantMachinery 2023-04-01 2024-03-31 00569751 d:PlantMachinery 2024-03-31 00569751 d:PlantMachinery 2023-03-31 00569751 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00569751 d:MotorVehicles 2023-04-01 2024-03-31 00569751 d:MotorVehicles 2024-03-31 00569751 d:MotorVehicles 2023-03-31 00569751 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00569751 d:FurnitureFittings 2023-04-01 2024-03-31 00569751 d:ComputerEquipment 2023-04-01 2024-03-31 00569751 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 00569751 d:OtherPropertyPlantEquipment 2024-03-31 00569751 d:OtherPropertyPlantEquipment 2023-03-31 00569751 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00569751 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00569751 d:CurrentFinancialInstruments 2024-03-31 00569751 d:CurrentFinancialInstruments 2023-03-31 00569751 d:Non-currentFinancialInstruments 2024-03-31 00569751 d:Non-currentFinancialInstruments 2023-03-31 00569751 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 00569751 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00569751 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 00569751 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 00569751 d:ShareCapital 2024-03-31 00569751 d:ShareCapital 2023-03-31 00569751 d:RetainedEarningsAccumulatedLosses 2024-03-31 00569751 d:RetainedEarningsAccumulatedLosses 2023-03-31 00569751 c:FRS102 2023-04-01 2024-03-31 00569751 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 00569751 c:FullAccounts 2023-04-01 2024-03-31 00569751 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00569751 2 2023-04-01 2024-03-31 00569751 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 00569751










Langmeads of Flansham Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 March 2024

 
Langmeads of Flansham Limited
 
  
Chartered accountants' report to the director on the preparation of the unaudited statutory financial statements of Langmeads of Flansham Limited for the year ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Langmeads of Flansham Limited for the year ended 31 March 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Langmeads of Flansham Limited in accordance with the terms of our engagement letter dated 19 August 2020Our work has been undertaken solely to prepare for your approval the financial statements of Langmeads of Flansham Limited and state those matters that we have agreed to state to the director of Langmeads of Flansham Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Langmeads of Flansham Limited and its director for our work or for this report. 

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

We have not been instructed to carry out an audit or review of the financial statements of Langmeads of Flansham 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 financial statements.

  



Kreston Reeves LLP
Chartered Accountants
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
23 October 2024
Page 1

 
Langmeads of Flansham Limited
Registered number: 00569751

Balance sheet
As at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
342,525
321,620

  
342,525
321,620

Current assets
  

Stocks
  
72,877
66,877

Debtors: amounts falling due within one year
 5 
207,669
174,950

Cash at bank and in hand
  
268,820
215,806

  
549,366
457,633

Creditors: amounts falling due within one year
 6 
(230,838)
(173,884)

Net current assets
  
 
 
318,528
 
 
283,749

Total assets less current liabilities
  
661,053
605,369

Creditors: amounts falling due after more than one year
 7 
(14,457)
-

Provisions for liabilities
  

Deferred tax
  
(45,636)
(25,781)

  
 
 
(45,636)
 
 
(25,781)

Net assets
  
600,960
579,588


Capital and reserves
  

Called up share capital 
  
700
700

Profit and loss account
  
600,260
578,888

  
600,960
579,588


Page 2

 
Langmeads of Flansham Limited
Registered number: 00569751

Balance sheet (continued)
As at 31 March 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J R L Langmead
Director
Date: 22 October 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
Langmeads of Flansham Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

1.


General information

The Company is a private limited liability company incorporated in England and Wales.
The address of its registered office is:
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
The address of its principal place of business is:
Rookery Farm
Hoe Lane
Flansham
West Sussex
PO22 8NT

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
Langmeads of Flansham Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on either a straight line basis or reducing balance basis, depending on asset class.

Depreciation is provided on the following basis:

Freehold property
-
10.0%
straight line
Plant and machinery includes:
-
-  Plant and equipment
-
15.0%
reducing balance
-  Fixtures and fittings
-
6.7%
straight line
-  Computer equipment
-
33.3%
straight line
Motor vehicles
-
25.0%
reducing balance
Herd
-
not depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the
Page 5

 
Langmeads of Flansham Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
Langmeads of Flansham Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 24 (2023 - 19).

Page 7

 
Langmeads of Flansham Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Herd
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
359,937
1,241,299
154,760
3,950
1,759,946


Additions
-
93,379
-
2,875
96,254


Disposals
-
(98,324)
(19,950)
-
(118,274)



At 31 March 2024

359,937
1,236,354
134,810
6,825
1,737,926



Depreciation


At 1 April 2023
275,664
1,052,631
110,031
-
1,438,326


Charge for the year on owned assets
16,341
33,603
10,786
-
60,730


Disposals
-
(85,286)
(18,369)
-
(103,655)



At 31 March 2024

292,005
1,000,948
102,448
-
1,395,401



Net book value



At 31 March 2024
67,932
235,406
32,362
6,825
342,525



At 31 March 2023
84,273
188,668
44,729
3,950
321,620


5.


Debtors

2024
2023
£
£


Trade debtors
149,532
147,255

Other debtors
55,648
25,145

Prepayments and accrued income
2,489
2,550

207,669
174,950


Page 8

 
Langmeads of Flansham Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
88,965
79,010

Corporation tax
18,531
18,531

Other taxation and social security
17,617
7,805

Obligations under finance lease and hire purchase contracts
16,223
-

Other creditors
77,648
59,788

Accruals and deferred income
11,854
8,750

230,838
173,884



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
14,457
-

14,457
-


Net obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.


Page 9