Director
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30 October 2024
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Director
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for and on behalf of
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75 Aston Road
Shifnal
Shropshire
TF11 8DU
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2023 | 2022 | |||
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Notes | £ | £ | ||
TURNOVER | 3 |
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Cost of sales |
( |
( |
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GROSS PROFIT |
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Distribution costs |
( |
( |
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Administrative expenses |
( |
( |
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Other operating income |
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Fair value gains on investment properties |
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OPERATING PROFIT | 5 |
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Profit on disposal of fixed assets |
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Other interest receivable and similar income | 10 |
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Interest payable and similar charges | 11 |
( |
( |
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PROFIT BEFORE TAXATION |
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Tax on Profit |
( |
( |
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PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT |
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OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT |
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2023 | 2022 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Intangible Assets | 12 |
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Tangible Assets | 13 |
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Investment Properties | 14 |
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CURRENT ASSETS | |||||
Stocks | 16 |
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Debtors | 17 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 18 |
( |
( |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Creditors: Amounts Falling Due After More Than One Year | 19 |
( |
( |
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PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 22 |
( |
( |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 23 |
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Other reserves |
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Fair Value Reserve | 27 |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 5,923,551 | 4,960,617 | |||
Director
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2023 | 2022 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 13 |
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Investment Properties | 14 |
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Investments | 15 |
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CURRENT ASSETS | |||||
Debtors | 17 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 18 |
( |
( |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Creditors: Amounts Falling Due After More Than One Year | 19 |
( |
( |
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PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 22 |
( |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 23 |
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Fair Value Reserve | 27 |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 1,945,276 | 249,400 | |||
Director
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Share Capital | Other reserves | Fair Value Reserve | Profit and Loss Account | Total | |
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£ | £ | £ | £ | £ | |
As at 1 November 2021 |
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4,681,788 |
Profit for the year and total comprehensive income | - | - | - |
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357,948 |
Dividends paid | - | - | - | (79,119) | (79,119) |
As at 31 October 2022 and 1 November 2022 |
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4,960,617 |
Profit for the year and total comprehensive income | - | - | - |
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1,073,624 |
Dividends paid | - | - | - | (110,690) | (110,690) |
Transfer to/from Fair value reserve | - | - | - | (883,239) | (883,239) |
Transfer to/from Profit & Loss Account | - |
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- | 883,239 |
As at 31 October 2023 |
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5,923,551 |
Share Capital | Fair Value Reserve | Profit and Loss Account | Total | |
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£ | £ | £ | £ | |
As at 1 November 2021 |
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124,118 |
Profit for the year and total comprehensive income | - | - |
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204,401 |
Dividends paid | - | - | (79,119) | (79,119) |
As at 31 October 2022 and 1 November 2022 |
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249,400 |
Profit for the year and total comprehensive income | - | - |
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1,806,566 |
Dividends paid | - | - | (110,690) | (110,690) |
Transfer to/from Fair value reserve | - | - | (883,239) | (883,239) |
Transfer to/from Profit & Loss Account | - |
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- | 883,239 |
As at 31 October 2023 |
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1,945,276 |
2023 | 2022 | |||
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Notes | £ | £ | ||
Cash flows from operating activities | ||||
Net cash generated from operations | 1 |
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Interest paid |
( |
( |
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Tax paid |
( |
( |
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Net cash generated from operating activities |
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Cash flows from investing activities | ||||
Purchase of tangible assets |
( |
( |
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Proceeds from disposal of tangible assets |
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Interest received |
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Net cash used in investing activities |
( |
( |
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Cash flows from financing activities | ||||
Equity dividends paid |
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( |
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Proceeds from new bank borrowings |
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Repayment of bank borrowings |
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( |
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Repayment of finance leases |
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Amount withdrawn by directors | (904,626) | - | ||
Net cash used in financing activities |
( |
( |
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Increase/(decrease) in cash and cash equivalents |
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Cash and cash equivalents at beginning of year | 2 |
( |
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Cash and cash equivalents at end of year | 2 |
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2023 | 2022 | ||
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£ | £ | ||
Profit for the financial year |
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Adjustments for: | |||
Tax on profit |
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Interest expense |
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Interest income |
( |
( |
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Amortisation of intangible assets |
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Depreciation of tangible assets |
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Profit on disposal of tangible assets | (16,123) | (50,526) | |
Net fair value gains recognised in profit or loss | (1,177,652) | - | |
Movements in working capital: | |||
Increase in stocks |
( |
( |
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Decrease/(increase) in trade and other debtors |
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( |
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Decrease in trade and other creditors |
( |
( |
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Net cash generated from operations |
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2023 | 2022 | ||
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£ | £ | ||
Cash at bank and in hand |
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Overdraft facilities repayable on demand |
( |
( |
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Cash and cash equivalents as stated in the Statement of Cash Flows | 19,734 | (44,907) | |
As at 1 November 2022 | Cash flows | As at 31 October 2023 | |
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£ | £ | £ | |
Cash at bank and in hand |
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102,753 |
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Overdraft facilities repayable on demand | (92,847) | (38,112) | (130,959) |
Cash and cash equivalents |
( |
64,641 |
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Finance leases | (21,875) | (18,334) | (40,209) |
Debts falling due within one year |
( |
(57,379) |
( |
Debts falling due after more than one year | (179,540) | (787,978) | (967,518) |
(338,538) | (799,050) | (1,137,588) | |
Freehold |
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Leasehold |
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Plant & Machinery |
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Motor Vehicles |
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Computer Equipment |
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2023 | 2022 | ||
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£ | £ | ||
Compost Sales | 1,931 | 2,582 | |
Sale of Livestock | 92,631 | 92,632 | |
Sale of Produce | 7,501,876 | 7,478,117 | |
Shop Sales | 1,572 | 5,795 | |
7,598,010 | 7,579,126 | ||
2023 | 2022 | ||
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£ | £ | ||
Grant income |
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15,135 | 21,512 | ||
2023 | 2022 | ||
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£ | £ | ||
Depreciation of tangible fixed assets |
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Amortisation of intangible fixed assets |
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2023 | 2022 | ||
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£ | £ | ||
Audit Services | |||
Audit of the company's financial statements |
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2023 | 2022 | ||
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£ | £ | ||
Wages and salaries |
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Social security costs |
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Other pension costs |
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2023 | 2022 | ||
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£ | £ | ||
Emoluments |
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Company contributions to money purchase pension schemes |
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2023 | 2022 | ||
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£ | £ | ||
Emoluments |
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Company contributions to money purchase pension schemes |
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2023 | 2022 | ||
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£ | £ | ||
Bank interest receivable |
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Other interest receivable type A | 3,560 | - | |
6,084 | 46 | ||
2023 | 2022 | ||
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£ | £ | ||
Bank loans and overdrafts |
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Finance charges payable under finance leases and hire purchase contracts | 613 | - | |
40,095 | 13,806 | ||
Goodwill | |||
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£ | |||
Cost | |||
As at 1 November 2022 |
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As at 31 October 2023 |
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Amortisation | |||
As at 1 November 2022 |
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Provided during the period |
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As at 31 October 2023 |
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Net Book Value | |||
As at 31 October 2023 |
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As at 1 November 2022 |
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Land & Property | ||||
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Freehold | Leasehold | Plant & Machinery | Motor Vehicles | |
£ | £ | £ | £ | |
Cost or Valuation | ||||
As at 1 November 2022 |
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Additions |
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Disposals |
( |
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( |
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As at 31 October 2023 |
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Depreciation | ||||
As at 1 November 2022 |
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Provided during the period |
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Disposals |
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( |
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As at 31 October 2023 |
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Net Book Value | ||||
As at 31 October 2023 |
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As at 1 November 2022 |
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Computer Equipment | Total | |
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£ | £ | |
Cost or Valuation | ||
As at 1 November 2022 |
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Additions |
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Disposals |
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( |
As at 31 October 2023 |
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Depreciation | ||
As at 1 November 2022 |
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Provided during the period |
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Disposals |
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( |
As at 31 October 2023 |
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Net Book Value | ||
As at 31 October 2023 |
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As at 1 November 2022 |
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2023 | 2022 | ||
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£ | £ | ||
Plant & Machinery |
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Land & Property | |
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Freehold | |
£ | |
Cost or Valuation | |
As at 1 November 2022 |
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As at 31 October 2023 |
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Net Book Value | |
As at 31 October 2023 |
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As at 1 November 2022 |
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2023 | |
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£ | |
Fair Value | |
As at 1 November 2022 |
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Additions |
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Revaluations | 1,177,652 |
As at 31 October 2023 |
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2023 | |
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£ | |
Fair Value | |
As at 1 November 2022 |
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Additions |
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Revaluations | 1,177,652 |
As at 31 October 2023 |
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Subsidiaries | |
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£ | |
Cost | |
As at 1 November 2022 |
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As at 31 October 2023 |
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Provision | |
As at 1 November 2022 |
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As at 31 October 2023 |
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Net Book Value | |
As at 31 October 2023 |
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As at 1 November 2022 |
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Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
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Lowerfields Mushroom Farm |
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- |
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Lowerfields Mushroom Farm |
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2023 | 2022 | ||
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£ | £ | ||
Raw materials |
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Livestock |
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Finished goods and gods for resale |
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Work in progress |
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Group | Company | ||||||
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2023 | 2022 | 2023 | 2022 | ||||
£ | £ | £ | £ | ||||
Due within one year | |||||||
Trade debtors |
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Amounts owed by group undertakings | - | - | 236 | 117,000 | |||
Other debtors | 709,290 | 495,317 | 590,681 | 1 | |||
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Due after more than one year | |||||||
Other debtors | 180,463 | - | 180,463 | - | |||
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Group | Company | ||||||
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2023 | 2022 | 2023 | 2022 | ||||
£ | £ | £ | £ | ||||
Net obligations under finance lease and hire purchase contracts |
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Trade creditors |
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Bank loans and overdrafts |
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Other creditors | 119,190 | 433,123 | 50,000 | 50,000 | |||
Corporation tax |
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Taxation and social security | 52,334 | 40,153 | - | - | |||
Accruals and deferred income |
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Group | Company | ||||||
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2023 | 2022 | 2023 | 2022 | ||||
£ | £ | £ | £ | ||||
Net obligations under finance lease and hire purchase contracts |
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Bank loans |
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Other creditors | 1,589,265 | 1,933,324 | 812,500 | 862,500 | |||
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Group | Company | ||||||
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2023 | 2022 | 2023 | 2022 | ||||
£ | £ | £ | £ | ||||
Net obligations under finance lease and hire purchase contracts | 533,703 | 162,500 | - | 162,500 |
Group | Company | ||||||
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2023 | 2022 | 2023 | 2022 | ||||
£ | £ | £ | £ | ||||
Amounts falling due within one year or on demand: | |||||||
Bank loans |
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Group | Company | ||||||
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2023 | 2022 | 2023 | 2022 | ||||
£ | £ | £ | £ | ||||
Amounts falling due between one and five years: | |||||||
Bank loans |
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Group | ||||
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2023 | 2022 | |||
£ | £ | |||
The future minimum finance lease payments are as follows: | ||||
Not later than one year |
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Later than one year and not later than five years |
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Group | Company | ||||||
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2023 | 2022 | 2023 | 2022 | ||||
£ | £ | £ | £ | ||||
Other timing differences | 726,901 | 363,894 | 294,413 | - | |||
As at 1 November 2022 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 October 2023 | |
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£ | £ | £ | £ | £ | |
Mr Timothy Livesey |
( |
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- |
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2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
On equity shares: | |||
Final dividend paid |
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