REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 October 2022 to 31 March 2024 |
for |
A G Hedges (Farms) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 October 2022 to 31 March 2024 |
for |
A G Hedges (Farms) Limited |
A G Hedges (Farms) Limited (Registered number: 00751290) |
Contents of the Financial Statements |
for the Period 1 October 2022 to 31 March 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
A G Hedges (Farms) Limited (Registered number: 00751290) |
Balance Sheet |
31 March 2024 |
2024 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
Herd | 7 | 670,074 | - |
CURRENT ASSETS |
Stocks | 8 |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 11 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
A G Hedges (Farms) Limited (Registered number: 00751290) |
Balance Sheet - continued |
31 March 2024 |
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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
A G Hedges (Farms) Limited (Registered number: 00751290) |
Notes to the Financial Statements |
for the Period 1 October 2022 to 31 March 2024 |
1. | STATUTORY INFORMATION |
A G Hedges (Farms) Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
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. |
Tangible fixed assets |
Fixed plant and installation | - |
Moveable plant and equipment | - |
Motor vehicles | - |
Tractors | - |
Stocks |
Stock is valued at the lower of cost and net realisable value. Home grown produce has been valued in accordance with H M Revenue & Customs guidance HS232. |
A G Hedges (Farms) Limited (Registered number: 00751290) |
Notes to the Financial Statements - continued |
for the Period 1 October 2022 to 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Classification |
The company holds the following financial instruments: |
Short term debtors and creditors; |
Cash and bank balances; |
Listed investments; and |
Unlisted investments. |
All financial instruments are classified as basic. |
Recognition and measurement |
The company has elected to apply the provisions FRS102 to all of its financial instruments. |
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled. |
Such instruments are initially measured at transaction price, including transition costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments. |
Listed Investments |
Investments are carried at fair value, derived from the current market prices determined annually by the directors. Changes in fair value are recognised in the profit and loss account. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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 period was |
4. | INTANGIBLE FIXED ASSETS |
Intangible fixed assets are carried at fair value, derived from the current market prices determined annually by the directors. Changes in fair value are recognised in the profit and loss account. |
A G Hedges (Farms) Limited (Registered number: 00751290) |
Notes to the Financial Statements - continued |
for the Period 1 October 2022 to 31 March 2024 |
5. | TANGIBLE FIXED ASSETS |
Fixed | Moveable |
Freehold | plant and | plant and |
property | installation | equipment |
£ | £ | £ |
COST |
At 1 October 2022 |
Additions |
Disposals | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 October 2022 |
Charge for period |
Eliminated on disposal | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 30 September 2022 |
Motor |
vehicles | Tractors | Totals |
£ | £ | £ |
COST |
At 1 October 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 October 2022 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 30 September 2022 |
A G Hedges (Farms) Limited (Registered number: 00751290) |
Notes to the Financial Statements - continued |
for the Period 1 October 2022 to 31 March 2024 |
6. | FIXED ASSET INVESTMENTS |
Listed | Unlisted |
investments | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 October 2022 | 201,199 |
Additions | 147,723 |
Disposals | ( |
) | (336 | ) |
Revaluations | ( |
) | (5,867 | ) |
At 31 March 2024 | 342,719 |
NET BOOK VALUE |
At 31 March 2024 | 342,719 |
At 30 September 2022 | 201,199 |
Cost or valuation at 31 March 2024 is represented by: |
Listed | Unlisted |
investments | investments | Totals |
£ | £ | £ |
Valuation in 2024 | 31,399 | 311,320 | 342,719 |
7. | HERD |
Dairy |
herd |
£ |
COST |
Additions | 670,074 |
At 31 March 2024 | 670,074 |
NET BOOK VALUE |
At 31 March 2024 | 670,074 |
8. | STOCKS |
2024 | 2022 |
£ | £ |
Stocks |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Trade debtors |
A G Hedges Limited |
MES Dart & Partners | - | 5,719 |
Fulscot Farms |
Taxation and social security |
Other debtors |
A G Hedges (Farms) Limited (Registered number: 00751290) |
Notes to the Financial Statements - continued |
for the Period 1 October 2022 to 31 March 2024 |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
MES Dart & Partners | 1,606,183 | - |
Social security and other taxes |
VAT | 26,150 | 1,745,594 |
Other creditors |
Accruals and deferred income |
11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2022 |
£ | £ |
Hire purchase contracts |
Accruals and deferred income |
12. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2022 |
£ | £ |
Bank loans |
Hire purchase contracts | 711,485 | 219,396 |
Bank loans are secured on the company's freehold land and buildings. |
Hire purchase contracts are secured on the assets to which they relate. |