IRIS Accounts Production v24.3.0.553 03134605 director 1.3.23 29.2.24 29.2.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh031346052023-02-28031346052024-02-29031346052023-03-012024-02-29031346052022-02-28031346052022-03-012023-02-28031346052023-02-2803134605ns15:EnglandWales2023-03-012024-02-2903134605ns14:PoundSterling2023-03-012024-02-2903134605ns10:Director12023-03-012024-02-2903134605ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2903134605ns10:SmallEntities2023-03-012024-02-2903134605ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2903134605ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2903134605ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2903134605ns10:FullAccounts2023-03-012024-02-2903134605ns10:CompanySecretary12023-03-012024-02-2903134605ns10:RegisteredOffice2023-03-012024-02-2903134605ns5:CurrentFinancialInstruments2024-02-2903134605ns5:CurrentFinancialInstruments2023-02-2803134605ns5:Non-currentFinancialInstruments2024-02-2903134605ns5:Non-currentFinancialInstruments2023-02-2803134605ns5:ShareCapital2024-02-2903134605ns5:ShareCapital2023-02-2803134605ns5:RetainedEarningsAccumulatedLosses2024-02-2903134605ns5:RetainedEarningsAccumulatedLosses2023-02-2803134605ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-03-012024-02-2903134605ns5:LongLeaseholdAssetsns5:LandBuildings2023-03-012024-02-2903134605ns5:PlantMachinery2023-03-012024-02-2903134605ns5:FurnitureFittings2023-03-012024-02-2903134605ns5:MotorVehicles2023-03-012024-02-2903134605ns5:LandBuildings2023-02-2803134605ns5:LongLeaseholdAssetsns5:LandBuildings2023-02-2803134605ns5:PlantMachinery2023-02-2803134605ns5:LandBuildings2023-03-012024-02-2903134605ns5:LandBuildings2024-02-2903134605ns5:LongLeaseholdAssetsns5:LandBuildings2024-02-2903134605ns5:PlantMachinery2024-02-2903134605ns5:LandBuildings2023-02-2803134605ns5:LongLeaseholdAssetsns5:LandBuildings2023-02-2803134605ns5:PlantMachinery2023-02-2803134605ns5:FurnitureFittings2023-02-2803134605ns5:MotorVehicles2023-02-2803134605ns5:FurnitureFittings2024-02-2903134605ns5:MotorVehicles2024-02-2903134605ns5:FurnitureFittings2023-02-2803134605ns5:MotorVehicles2023-02-2803134605ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-02-2903134605ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2803134605ns5:Secured2024-02-2903134605ns5:Secured2023-02-28
REGISTERED NUMBER: 03134605 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Roydon Hall Farms Limited

Roydon Hall Farms Limited (Registered number: 03134605)

Contents of the Financial Statements
for the Year Ended 29 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Roydon Hall Farms Limited

Company Information
for the Year Ended 29 February 2024







Director: Mr M C Rae





Secretary: Ms A Rae





Registered office: Church Lane
Roydon
King's Lynn
Norfolk
PE32 1AR





Registered number: 03134605 (England and Wales)





Accountants: Stephenson Smart (East Anglia) Limited
Chartered Accountants
22-26 King Street
King's Lynn
Norfolk
PE30 1HJ

Roydon Hall Farms Limited (Registered number: 03134605)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £ £
Fixed assets
Tangible assets 5 1,423,252 1,486,374

Current assets
Stocks 258,442 451,649
Debtors 6 64,387 111,085
Investments 7 1 1
Cash at bank 209,650 -
532,480 562,735
Creditors
Amounts falling due within one year 8 (750,368 ) (183,900 )
Net current (liabilities)/assets (217,888 ) 378,835
Total assets less current liabilities 1,205,364 1,865,209

Creditors
Amounts falling due after more than one
year

9

(61,800

)

(684,732

)

Provisions for liabilities (228,832 ) (236,794 )
Net assets 914,732 943,683

Capital and reserves
Called up share capital 15,000 15,000
Retained earnings 899,732 928,683
Shareholders' funds 914,732 943,683

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Roydon Hall Farms Limited (Registered number: 03134605)

Balance Sheet - continued
29 February 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 November 2024 and were signed by:





Mr M C Rae - Director


Roydon Hall Farms Limited (Registered number: 03134605)

Notes to the Financial Statements
for the Year Ended 29 February 2024


1. Statutory information

Roydon Hall Farms Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Roydon Hall Farms Limited (Registered number: 03134605)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


3. Accounting policies - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - Straight line over 50 years
Long leasehold - Straight line over 50 years
Plant and machinery - 10% p.a. reducing balance
Office equipment - 15% p.a. reducing balance
Motor vehicles - 10% - 20% on reducing balance

Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company classifies its financial instruments in the following categories: measured at amortised cost; and measured at fair value through profit and loss. The classification is determined at initial recognition and depends on the purpose for which the financial instruments are required.

Measured at amortised cost includes non-derivative financial assets and liabilities with fixed or determinable payments that are not quoted in an active market. Financial assets are included in current assets, except where the maturity date is more than 12 months after the end of the reporting period. They are initially recorded at fair value and subsequently recorded at amortised cost. Financial liabilities are included in current liabilities, except where the maturity date is more than 12 months after the end of the reporting period. They are initially measured at original cost, less amortisation or provisions raised.

Measured at fair value through profit and loss includes financial assets and liabilities. They are classified according to maturity date, within current and non-current assets and liabilities respectively.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Roydon Hall Farms Limited (Registered number: 03134605)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


3. Accounting policies - continued

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 year 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.

4. Employees and directors

The average number of employees during the year was 2 (2023 - 3 ) .

5. Tangible fixed assets
Freehold Long Plant and
property leasehold machinery
£ £ £
Cost
At 1 March 2023 576,225 617,804 1,188,703
Additions - - 23,850
At 29 February 2024 576,225 617,804 1,212,553
Depreciation
At 1 March 2023 95,600 205,406 792,238
Charge for year 11,524 12,356 41,366
At 29 February 2024 107,124 217,762 833,604
Net book value
At 29 February 2024 469,101 400,042 378,949
At 28 February 2023 480,625 412,398 396,465

Roydon Hall Farms Limited (Registered number: 03134605)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


5. Tangible fixed assets - continued

Office Motor
equipment vehicles Totals
£ £ £
Cost
At 1 March 2023 6,319 535,072 2,924,123
Additions - - 23,850
At 29 February 2024 6,319 535,072 2,947,973
Depreciation
At 1 March 2023 6,085 338,420 1,437,749
Charge for year 35 21,691 86,972
At 29 February 2024 6,120 360,111 1,524,721
Net book value
At 29 February 2024 199 174,961 1,423,252
At 28 February 2023 234 196,652 1,486,374

6. Debtors: amounts falling due within one year
29.2.24 28.2.23
£ £
Trade debtors 43,828 78,087
Other debtors 20,559 32,998
64,387 111,085

7. Current asset investments
29.2.24 28.2.23
£ £
Other investments 1 1

8. Creditors: amounts falling due within one year
29.2.24 28.2.23
£ £
Bank loans and overdrafts 22,557 49,227
Hire purchase contracts 25,336 32,982
Trade creditors 61,024 54,098
Taxation and social security 8,963 34,098
Other creditors 632,488 13,495
750,368 183,900

Roydon Hall Farms Limited (Registered number: 03134605)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


9. Creditors: amounts falling due after more than one year
29.2.24 28.2.23
£ £
Bank loans 37,437 635,032
Hire purchase contracts 24,363 49,700
61,800 684,732

10. Secured debts

The following secured debts are included within creditors:

29.2.24 28.2.23
£ £
Bank overdraft - 1,919
Bank loans 59,994 682,340
Hire purchase contracts 49,699 82,682
109,693 766,941

11. Related party disclosures

The company was under the control of its Director throughout the current and previous year.

The Director has provided security for the company's bank borrowings by way of a legal mortgage over the personally owned farm property. This is to support the security provided by the company.

During the year there were net transactions with the director of £595,433 (2023: £45). At the balance sheet date an amount of £595,618 (2023: £185) was owed to the director by the company.

No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.