IRIS Accounts Production v24.3.0.553 00751290 Board of Directors 1.10.22 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh007512902022-09-30007512902024-03-31007512902022-10-012024-03-31007512902021-09-30007512902021-10-012022-09-30007512902022-09-3000751290ns15:EnglandWales2022-10-012024-03-3100751290ns14:PoundSterling2022-10-012024-03-3100751290ns10:Director12022-10-012024-03-3100751290ns10:PrivateLimitedCompanyLtd2022-10-012024-03-3100751290ns10:SmallEntities2022-10-012024-03-3100751290ns10:AuditExempt-NoAccountantsReport2022-10-012024-03-3100751290ns10:SmallCompaniesRegimeForDirectorsReport2022-10-012024-03-3100751290ns10:SmallCompaniesRegimeForAccounts2022-10-012024-03-3100751290ns10:FullAccounts2022-10-012024-03-310075129012022-10-012024-03-3100751290ns5:CurrentFinancialInstruments2024-03-3100751290ns5:CurrentFinancialInstruments2022-09-3000751290ns5:Non-currentFinancialInstruments2024-03-3100751290ns5:Non-currentFinancialInstruments2022-09-3000751290ns5:ShareCapital2024-03-3100751290ns5:ShareCapital2022-09-3000751290ns5:RetainedEarningsAccumulatedLosses2024-03-3100751290ns5:RetainedEarningsAccumulatedLosses2022-09-3000751290ns10:RegisteredOffice2022-10-012024-03-3100751290ns5:NetGoodwill2022-10-012024-03-3100751290ns5:IntangibleAssetsOtherThanGoodwill2022-10-012024-03-3100751290ns5:PlantMachinery2022-10-012024-03-3100751290ns5:FurnitureFittings2022-10-012024-03-3100751290ns5:MotorVehicles2022-10-012024-03-3100751290ns5:ComputerEquipment2022-10-012024-03-3100751290ns5:LandBuildings2022-09-3000751290ns5:PlantMachinery2022-09-3000751290ns5:FurnitureFittings2022-09-3000751290ns5:LandBuildings2022-10-012024-03-3100751290ns5:LandBuildings2024-03-3100751290ns5:PlantMachinery2024-03-3100751290ns5:FurnitureFittings2024-03-3100751290ns5:LandBuildings2022-09-3000751290ns5:PlantMachinery2022-09-3000751290ns5:FurnitureFittings2022-09-3000751290ns5:MotorVehicles2022-09-3000751290ns5:ComputerEquipment2022-09-3000751290ns5:MotorVehicles2024-03-3100751290ns5:ComputerEquipment2024-03-3100751290ns5:MotorVehicles2022-09-3000751290ns5:ComputerEquipment2022-09-3000751290ns5:ListedExchangeTradedns5:CostValuation2022-09-3000751290ns5:UnlistedNon-exchangeTradedns5:CostValuation2022-09-3000751290ns5:ListedExchangeTradedns5:AdditionsToInvestments2024-03-3100751290ns5:UnlistedNon-exchangeTradedns5:AdditionsToInvestments2024-03-3100751290ns5:DisposalsRepaymentsInvestmentsns5:ListedExchangeTraded2024-03-3100751290ns5:DisposalsRepaymentsInvestmentsns5:UnlistedNon-exchangeTraded2024-03-3100751290ns5:ListedExchangeTradedns5:RevaluationsIncreaseDecreaseInInvestments2024-03-3100751290ns5:UnlistedNon-exchangeTradedns5:RevaluationsIncreaseDecreaseInInvestments2024-03-3100751290ns5:ListedExchangeTradedns5:CostValuation2024-03-3100751290ns5:UnlistedNon-exchangeTradedns5:CostValuation2024-03-3100751290ns5:ListedExchangeTraded2024-03-3100751290ns5:UnlistedNon-exchangeTraded2024-03-3100751290ns5:ListedExchangeTraded2022-09-3000751290ns5:UnlistedNon-exchangeTraded2022-09-3000751290ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3100751290ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-09-3000751290ns5:Secured2024-03-3100751290ns5:Secured2022-09-30
REGISTERED NUMBER: 00751290 (England and Wales)















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 10,354,827 1,890,832
Investments 6 342,719 201,199
Herd 7 670,074 -
11,367,620 2,092,031

CURRENT ASSETS
Stocks 8 421,369 165,754
Debtors 9 728,391 914,461
Cash at bank 5,068,161 14,053,565
6,217,921 15,133,780
CREDITORS
Amounts falling due within one year 10 2,247,128 2,212,445
NET CURRENT ASSETS 3,970,793 12,921,335
TOTAL ASSETS LESS CURRENT LIABILITIES 15,338,413 15,013,366

CREDITORS
Amounts falling due after more than one year 11 (530,415 ) (97,312 )

PROVISIONS FOR LIABILITIES (498,834 ) (347,833 )
NET ASSETS 14,309,164 14,568,221

CAPITAL AND RESERVES
Called up share capital 42,002 42,002
Retained earnings 14,267,162 14,526,219
14,309,164 14,568,221

A G Hedges (Farms) Limited (Registered number: 00751290)

Balance Sheet - continued
31 March 2024


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

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

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by:





Mr A G H Dart - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00751290

Registered office: Fulscot Farm
Didcot
Oxfordshire
OX11 9AA

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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
BPS Entitlements, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixed plant and installation - 10% on cost and 5% on cost
Moveable plant and equipment - 10% on cost
Motor vehicles - 20% on reducing balance
Tractors - 20% on reducing balance

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 19 (2022 - 18 ) .

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 46,380 2,649,835 406,002
Additions 6,561,330 776,800 856,066
Disposals - - (17,155 )
At 31 March 2024 6,607,710 3,426,635 1,244,913
DEPRECIATION
At 1 October 2022 - 1,602,626 158,277
Charge for period - 171,257 74,528
Eliminated on disposal - - (15,361 )
At 31 March 2024 - 1,773,883 217,444
NET BOOK VALUE
At 31 March 2024 6,607,710 1,652,752 1,027,469
At 30 September 2022 46,380 1,047,209 247,725

Motor
vehicles Tractors Totals
£    £    £   
COST
At 1 October 2022 37,430 1,140,725 4,280,372
Additions 1,486 891,990 9,087,672
Disposals - (377,075 ) (394,230 )
At 31 March 2024 38,916 1,655,640 12,973,814
DEPRECIATION
At 1 October 2022 28,011 600,626 2,389,540
Charge for period 2,826 224,285 472,896
Eliminated on disposal - (228,088 ) (243,449 )
At 31 March 2024 30,837 596,823 2,618,987
NET BOOK VALUE
At 31 March 2024 8,079 1,058,817 10,354,827
At 30 September 2022 9,419 540,099 1,890,832

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 46,910 154,289 201,199
Additions - 147,723 147,723
Disposals (336 ) - (336 )
Revaluations (15,175 ) 9,308 (5,867 )
At 31 March 2024 31,399 311,320 342,719
NET BOOK VALUE
At 31 March 2024 31,399 311,320 342,719
At 30 September 2022 46,910 154,289 201,199

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 421,369 165,754

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 173,104 61,710
A G Hedges Limited 489,492 730,071
MES Dart & Partners - 5,719
Fulscot Farms - 62,188
Taxation and social security 14,952 52,382
Other debtors 50,843 2,391
728,391 914,461

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 - 10,436
Hire purchase contracts 207,486 122,084
Trade creditors 255,153 141,790
MES Dart & Partners 1,606,183 -
Social security and other taxes 6,286 6,235
VAT 26,150 1,745,594
Other creditors 86,021 86,021
Accruals and deferred income 59,849 100,285
2,247,128 2,212,445

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2022
£    £   
Hire purchase contracts 503,999 97,312
Accruals and deferred income 26,416 -
530,415 97,312

12. SECURED DEBTS

The following secured debts are included within creditors:

2024 2022
£    £   
Bank loans - 10,436
Hire purchase contracts 711,485 219,396
711,485 229,832

Bank loans are secured on the company's freehold land and buildings.

Hire purchase contracts are secured on the assets to which they relate.