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Registration number: 11454371

AH Farms Ltd

Filleted Financial Statements

for the Year Ended 31 January 2024

 

AH Farms Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

AH Farms Ltd

Company Information

Directors

A M Spencer

H E Sharpe

I D Fisher

K A Pinder

Registered office

Media Centre,
Morton Way
Horncastle
Lincolnshire
LN9 6JR

Auditors

Forrester Boyd
Waynflete House
139 Eastgate
Louth
Lincolnshire
LN11 9QQ

 

AH Farms Ltd

(Registration number: 11454371)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

72,055

78,574

Tangible assets

5

7,013,491

6,995,236

Other financial assets

6

5

5

 

7,085,551

7,073,815

Current assets

 

Stocks

7

49,934

145,676

Debtors

8

125,690

362,603

Cash at bank and in hand

 

1,388,150

1,039,320

 

1,563,774

1,547,599

Creditors: Amounts falling due within one year

9

(195,839)

(205,933)

Net current assets

 

1,367,935

1,341,666

Total assets less current liabilities

 

8,453,486

8,415,481

Provisions for liabilities

(25,524)

(20,761)

Net assets

 

8,427,962

8,394,720

Capital and reserves

 

Called up share capital

10

10,000

10,000

Retained earnings

8,417,962

8,384,720

Shareholders' funds

 

8,427,962

8,394,720

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 October 2024 and signed on its behalf by:
 

.........................................
K A Pinder
Director

 

AH Farms Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 11454371.

The address of its registered office is:
Media Centre,
Morton Way
Horncastle
Lincolnshire
LN9 6JR
United Kingdom

These financial statements were authorised for issue by the Board on 31 October 2024.

These financial statements cover the individual entity, AH Farms Ltd.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 31 October 2024 was Adam Millson ACA, who signed for and on behalf of Forrester Boyd .

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

AH Farms Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land

Not depreciated

Plant and machinery

5 years straight line basis and no depreciation

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Entitlements

8 years straight line basis

Crop Storage Rights

Not amortised

Stocks

The basis of valuation is as follows:
Raw materials and consumables are stated at the lower of cost or net realisable value.
Tenantright is calculated by a combination of actual costs incurred and standard costs.
Produce on hand is valued at standard cost.
Standard costings are based upon calculations prepared by the Central Association of Agricultural Valuers.
The basis of valuation is consistent with previous years.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 0 (2023 - 0).

 

AH Farms Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

4

Intangible assets

Crop Storage Rights
£

Basic Payment Entitlements
 £

Total
£

Cost or valuation

At 1 February 2023

52,500

52,150

104,650

At 31 January 2024

52,500

52,150

104,650

Amortisation

At 1 February 2023

-

26,076

26,076

Amortisation charge

-

6,519

6,519

At 31 January 2024

-

32,595

32,595

Carrying amount

At 31 January 2024

52,500

19,555

72,055

At 31 January 2023

52,500

26,074

78,574

5

Tangible assets

Land and buildings
£

Plant and machinery
 £

Total
£

Cost or valuation

At 1 February 2023

6,911,395

89,926

7,001,321

Additions

-

30,425

30,425

At 31 January 2024

6,911,395

120,351

7,031,746

Depreciation

At 1 February 2023

-

6,085

6,085

Charge for the year

-

12,170

12,170

At 31 January 2024

-

18,255

18,255

Carrying amount

At 31 January 2024

6,911,395

102,096

7,013,491

At 31 January 2023

6,911,395

83,841

6,995,236

 

AH Farms Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 February 2023

5

5

At 31 January 2024

5

5

Impairment

Carrying amount

At 31 January 2024

5

5

7

Stocks

2024
£

2023
£

Tenantright

30,493

88,441

Finished goods and goods for resale

19,441

57,235

49,934

145,676

8

Debtors

Current

2024
£

2023
£

Trade debtors

77,351

287,818

Other debtors

48,339

74,785

 

125,690

362,603

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

116,667

438

Taxation and social security

7,222

-

Accruals and deferred income

71,950

205,495

195,839

205,933

 

AH Farms Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

10,000

10,000

10,000

10,000