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REGISTERED NUMBER: 02284848 (England and Wales)















MARK CAUDWELL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






MARK CAUDWELL LIMITED (REGISTERED NUMBER: 02284848)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 8


MARK CAUDWELL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M L Caudwell
Mrs M T Caudwell
Mrs E F Huddart
H C A Huddart





SECRETARY: M L Caudwell





REGISTERED OFFICE: Howlett House Farm
Hogsthorpe
Skegness
Lincolnshire
PE24 5NS





REGISTERED NUMBER: 02284848 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
5 Resolution Close
Endeavour Park
Boston
Lincolnshire
PE21 7TT

MARK CAUDWELL LIMITED (REGISTERED NUMBER: 02284848)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,620,472 3,278,101
Investment property 6 1,400,000 1,400,000
6,020,472 4,678,101

CURRENT ASSETS
Valuation 701,095 841,785
Debtors 7 338,798 265,987
Cash at bank and in hand 4,384,997 5,442,860
5,424,890 6,550,632
CREDITORS
Amounts falling due within one year 8 282,251 514,559
NET CURRENT ASSETS 5,142,639 6,036,073
TOTAL ASSETS LESS CURRENT LIABILITIES 11,163,111 10,714,174

CREDITORS
Amounts falling due after more than one year 9 (629 ) (4,123 )

PROVISIONS FOR LIABILITIES (364,851 ) (361,892 )
NET ASSETS 10,797,631 10,348,159

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 614,455 614,455
Other reserves 11 1,830,682 1,830,682
Retained earnings 11 8,352,394 7,902,922
SHAREHOLDERS' FUNDS 10,797,631 10,348,159

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

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

MARK CAUDWELL LIMITED (REGISTERED NUMBER: 02284848)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:




M L Caudwell - Director



Mrs M T Caudwell - Director


MARK CAUDWELL LIMITED (REGISTERED NUMBER: 02284848)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Mark Caudwell 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. 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 represents net invoiced sales of farm crops, excluding value added tax, revenue is recognised upon despatch of the crops.

Basic payment scheme entitlements
Intangible assets consist of entitlements to the Basic Payment Scheme. The entitlements are recognised at fair value and written off on a straight line basis over the period to 31 December 2019.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost, 1% on cost and not provided
Plant and machinery etc - 20% on cost and 12.5% on reducing balance

Tangible assets are held at cost less depreciation.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Valuation
The valuation has been prepared by independent valuers at the lower of cost and estimated selling price less costs to sell.

Biological assets, living plants are included at the lower of cost and estimated selling price less costs to sell..

Financial instruments
The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


MARK CAUDWELL LIMITED (REGISTERED NUMBER: 02284848)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.

Basic payment scheme
The basic payment scheme is recognised in the financial statements in accordance with current H M Revenue & Customs guidance.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 196,990
AMORTISATION
At 1 April 2023
and 31 March 2024 196,990
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

MARK CAUDWELL LIMITED (REGISTERED NUMBER: 02284848)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 3,094,593 1,680,206 4,774,799
Additions 1,356,294 102,948 1,459,242
Disposals - (97,831 ) (97,831 )
At 31 March 2024 4,450,887 1,685,323 6,136,210
DEPRECIATION
At 1 April 2023 303,296 1,193,402 1,496,698
Charge for year 5,771 104,309 110,080
Eliminated on disposal - (91,040 ) (91,040 )
At 31 March 2024 309,067 1,206,671 1,515,738
NET BOOK VALUE
At 31 March 2024 4,141,820 478,652 4,620,472
At 31 March 2023 2,791,297 486,804 3,278,101

Included in cost of land and buildings is freehold land of £ 3,483,597 (2023 - £ 2,195,596 ) which is not depreciated.


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,400,000
NET BOOK VALUE
At 31 March 2024 1,400,000
At 31 March 2023 1,400,000

Fair value at 31 March 2024 is represented by:


£
Valuation in 2022 1,400,000
1,400.000


If investment property had not been revalued they would have been included at the following historical cost:

2024 2023
£ £
Cost 657,637 657,637

Investment property has been valued by the directors, based on their assessment and guidance from professional valuers.

MARK CAUDWELL LIMITED (REGISTERED NUMBER: 02284848)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 180,956 153,117
Other debtors 157,842 112,870
338,798 265,987

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade creditors 101,488 115,139
Taxation and social security 166,212 373,306
Other creditors 14,551 26,114
282,251 514,559

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
as restated
£    £   
Other creditors 629 4,123

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as restated
£    £   
100 Ordinary 100 100 100

11. RESERVES
Fair
Retained value Other
earnings reserve reserves Totals
£    £    £    £   

At 1 April 2023 7,902,922 614,455 1,830,682 10,348,059
Profit for the year 449,472 - - 449,472
At 31 March 2024 8,352,394 614,455 1,830,682 10,797,531

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
as restated
£    £   
M L Caudwell
Balance outstanding at start of year 48,170 (1,830 )
Amounts advanced 820,002 50,000
Amounts repaid (869,108 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (936 ) 48,170

MARK CAUDWELL LIMITED (REGISTERED NUMBER: 02284848)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

The loan made to the director is unsecured, interest free and repayable on demand.