0 01/10/2022 31/03/2024 2024-03-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-10-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 06399463 2022-10-01 2024-03-31 06399463 2024-03-31 06399463 2022-09-30 06399463 2021-10-01 2022-09-30 06399463 2022-09-30 06399463 2021-09-30 06399463 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-01 2024-03-31 06399463 core:LandBuildings core:LongLeaseholdAssets 2022-10-01 2024-03-31 06399463 core:PlantMachinery 2022-10-01 2024-03-31 06399463 core:FurnitureFittingsToolsEquipment 2022-10-01 2024-03-31 06399463 core:MotorVehicles 2022-10-01 2024-03-31 06399463 core:OnerousContractsExcludingVacantProperties 2022-10-01 2024-03-31 06399463 bus:Director1 2022-10-01 2024-03-31 06399463 core:IntangibleAssetsOtherThanGoodwill 2024-03-31 06399463 core:LandBuildings core:OwnedOrFreeholdAssets 2022-09-30 06399463 core:PlantMachinery 2022-09-30 06399463 core:FurnitureFittingsToolsEquipment 2022-09-30 06399463 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 06399463 core:PlantMachinery 2024-03-31 06399463 core:FurnitureFittingsToolsEquipment 2024-03-31 06399463 core:WithinOneYear 2024-03-31 06399463 core:WithinOneYear 2022-09-30 06399463 core:AfterOneYear 2024-03-31 06399463 core:AfterOneYear 2022-09-30 06399463 core:ShareCapital 2024-03-31 06399463 core:ShareCapital 2022-09-30 06399463 core:RetainedEarningsAccumulatedLosses 2024-03-31 06399463 core:RetainedEarningsAccumulatedLosses 2022-09-30 06399463 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 06399463 core:Non-currentFinancialInstruments 2024-03-31 06399463 core:Non-currentFinancialInstruments 2022-09-30 06399463 core:LandBuildings core:OwnedOrFreeholdAssets 2022-09-30 06399463 core:PlantMachinery 2022-09-30 06399463 core:FurnitureFittingsToolsEquipment 2022-09-30 06399463 bus:SmallEntities 2022-10-01 2024-03-31 06399463 bus:AuditExemptWithAccountantsReport 2022-10-01 2024-03-31 06399463 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2024-03-31 06399463 bus:PrivateLimitedCompanyLtd 2022-10-01 2024-03-31 06399463 bus:FullAccounts 2022-10-01 2024-03-31 06399463 core:LandBuildings core:ShortLeaseholdAssets 2022-10-01 2024-03-31 06399463 core:OtherPropertyPlantEquipment 2022-10-01 2024-03-31 06399463 core:OtherPropertyPlantEquipment 2022-09-30 06399463 core:OtherPropertyPlantEquipment 2024-03-31 06399463 1 2022-10-01 2024-03-31 06399463 2 2022-10-01 2024-03-31
Company registration number: 06399463
G B Holmes Farms Limited
Unaudited filleted financial statements
31 March 2024
G B HOLMES FARMS LIMITED
STATEMENT OF FINANCIAL POSITION
31 MARCH 2024
____________________________________________________________________________________
31/03/24 30/09/22
Note £ £ £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 539,552 602,959
Investments 6 1 1
_______ _______
539,553 602,960
Current assets
Stocks 7,352 4,500
Debtors 7 771,960 713,840
Cash at bank and in hand - 1,703
_______ _______
779,312 720,043
Creditors: amounts falling due
within one year 8 ( 354,370) ( 376,898)
_______ _______
Net current assets 424,942 343,145
_______ _______
Total assets less current liabilities 964,495 946,105
Creditors: amounts falling due
after more than one year 9 ( 41,520) ( 59,387)
_______ _______
Net assets 922,975 886,718
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 922,875 886,618
_______ _______
Shareholders funds 922,975 886,718
_______ _______
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 September 2024 , and are signed on behalf of the board by:
G B Holmes J M Holmes
Director Director
Company registration number: 06399463
G B HOLMES FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD ENDED 31 MARCH 2024
___________________________________________________________________________________
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Hilltop, 2 Dorchester Road, Dorchester, Dorset, DT2 9NB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Land and buildings - 10 % reducing balance
Sleeper track - 10 % reducing balance
Dairy herd - 0 %
Plant and machinery - 25 % reducing balance
Livestock equipment - 25 % reducing balance
Dilute slurry store - 10 % reducing balance
Parlour and tank - 10 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets .
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4. Intangible assets
Other intangible assets Total
£ £
Cost
At 1 October 2022 and 31 March 2024 40,800 40,800
_______ _______
Amortisation
At 1 October 2022 and 31 March 2024 40,800 40,800
_______ _______
Carrying amount
At 31 March 2024 - -
_______ _______
At 30 September 2022 - -
_______ _______
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Dairy herd Total
£ £ £ £ £
Cost
At 1 October 2022 15,521 946,202 81,200 202,000 1,244,923
Additions 28,713 134,632 - - 163,345
Disposals - ( 113,184) - - ( 113,184)
_______ _______ _______ _______ _______
At 31 March 2024 44,234 967,650 81,200 202,000 1,295,084
_______ _______ _______ _______ _______
Depreciation
At 1 October 2022 6,964 579,963 55,037 - 641,964
Charge for the year 5,590 166,438 3,924 - 175,952
Disposals - ( 62,384) - - ( 62,384)
_______ _______ _______ _______ _______
At 31 March 2024 12,554 684,017 58,961 - 755,532
_______ _______ _______ _______ _______
Carrying amount
At 31 March 2024 31,680 283,633 22,239 202,000 539,552
_______ _______ _______ _______ _______
At 30 September 2022 8,557 366,239 26,163 202,000 602,959
_______ _______ _______ _______ _______
6. Investments
Other investments other than loans Total
£ £
Cost
At 1 October 2022 and 31 March 2024 1 1
_______ _______
Impairment
At 1 October 2022 and 31 March 2024 - -
_______ _______
Carrying amount
At 31 March 2024 1 1
_______ _______
At 30 September 2022 1 1
_______ _______
7. Debtors
31/03/24 30/09/22
£ £
Trade debtors 4,345 7,919
Other debtors 767,615 705,921
_______ _______
771,960 713,840
_______ _______
8. Creditors: amounts falling due within one year
31/03/24 30/09/22
£ £
Bank loans and overdrafts 34,931 37,500
Trade creditors 39,663 12,835
Corporation tax 25,146 19,453
Social security and other taxes 6,186 17,561
Other creditors 248,444 289,549
_______ _______
354,370 376,898
_______ _______
9. Creditors: amounts falling due after more than one year
31/03/24 30/09/22
£ £
Other creditors 41,520 59,387
_______ _______
10. Controlling party
The company is under the joint control of its two directors' Mr G B Holmes and Mrs J M Holmes .