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REGISTERED NUMBER: 00599804 (England and Wales)






















Unaudited Financial Statements for the Year Ended 31st March 2024

for

Cattle (Holderness) Limited

Cattle (Holderness) Limited (Registered number: 00599804)






Contents of the Financial Statements
for the year ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cattle (Holderness) Limited

Company Information
for the year ended 31st March 2024







DIRECTORS: R G Buckle
R P Buckle
R J Buckle





SECRETARY: R G Buckle





REGISTERED OFFICE: West Farm
Sunk Island
Ottringham
East Yorkshire
HU12 0AP





REGISTERED NUMBER: 00599804 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire HU2 8BA

Cattle (Holderness) Limited (Registered number: 00599804)

Balance Sheet
31st March 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 18,293,308 17,219,804
Investment property 6 2,857,000 3,136,000
21,150,308 20,355,804

CURRENT ASSETS
Stocks 708,197 863,114
Debtors 7 304,678 463,638
Cash at bank and in hand 443 448
1,013,318 1,327,200
CREDITORS
Amounts falling due within one year 8 4,212,586 3,280,784
NET CURRENT LIABILITIES (3,199,268 ) (1,953,584 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,951,040

18,402,220

CREDITORS
Amounts falling due after more than one
year

9

(5,521,275

)

(5,793,928

)

PROVISIONS FOR LIABILITIES (1,139,996 ) (1,567,430 )
NET ASSETS 11,289,769 11,040,862

CAPITAL AND RESERVES
Called up share capital 6,000 6,000
Revaluation reserve 4,061,564 4,151,364
Fair value reserve 49,736 49,736
Retained earnings 7,172,469 6,833,762
SHAREHOLDERS' FUNDS 11,289,769 11,040,862

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

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

Cattle (Holderness) Limited (Registered number: 00599804)

Balance Sheet - continued
31st 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24th October 2024 and were signed on its behalf by:




R P Buckle - Director



R J Buckle - Director


Cattle (Holderness) Limited (Registered number: 00599804)

Notes to the Financial Statements
for the year ended 31st March 2024

1. STATUTORY INFORMATION

Cattle (Holderness) 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared in accordance with applicable accounting standards including Section 1A of Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

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

Turnover from the sale of goods and services is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer (usually on dispatch of the goods), the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliability.

Intangible fixed assets
Basic Payment Scheme entitlements are initially recognised at cost and are amortised on a straight line basis over their expected useful life. At the reporting date, the expected useful life has finished.

Entitlements acquired via the ownership of existing land, and therefore have no cost, have been revalued to fair value on transition to FRS102 and are being amortised over their expected useful life in accordance with the above period of benefit expected from the basic payment scheme.

Provision is made for any impairment.

Under FRS102, intangible assets are being recognised using the cost model. The entitlements previously owned by the company, but acquired at £Nil cost, were revalued to their fair value on the transition date, which has subsequently been treated as their deemed cost and have been amortised in line with the accounting policy. The amortised fair value element of the NBV at 31 March 2024 is nil.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation
Depreciation of fixed assets is charged by annual instalments commencing with the year of acquisition at rates estimated to write off their cost less any residual value over the expected useful lives.

The annual rates used are as follows:

Freehold propertyNil
Buildings3-10% on reducing balance
Plant and machinery - Other15-20% on reducing balance
Plant and machinery - Arable15-20% on reducing balance
Motor vehicles25% on reducing balance
Plant and machinery - Pigs15-20% on reducing balance

Cattle (Holderness) Limited (Registered number: 00599804)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

2. ACCOUNTING POLICIES - continued

Investment property
Investment properties are shown at their most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account.

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

Biological assets in stock are valued under the cost model in accordance with Section 34 of FRS102, using the lower of cost and estimated selling price less costs to complete and sell method.

Current & deferred tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current and past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 and other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Hire purchase and leasing commitments
Tangible fixed assets acquired under hire purchase agreements are capitalised at the estimated fair value at the date of inception of each contract. The finance charges are allocated over the period of the contract in accordance with the straight line method.

3. EMPLOYEES AND DIRECTORS

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

Cattle (Holderness) Limited (Registered number: 00599804)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st April 2023 74,051
Disposals (74,051 )
At 31st March 2024 -
AMORTISATION
At 1st April 2023 74,051
Eliminated on disposal (74,051 )
At 31st March 2024 -
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 -

5. TANGIBLE FIXED ASSETS
Plant &
Freehold machinery
property Buildings - Other
£    £    £   
COST OR VALUATION
At 1st April 2023 10,756,666 4,016,994 121,895
Additions - 727,494 -
Disposals - - -
At 31st March 2024 10,756,666 4,744,488 121,895
DEPRECIATION
At 1st April 2023 - 105,892 119,910
Charge for year - 102,396 428
Eliminated on disposal - - -
At 31st March 2024 - 208,288 120,338
NET BOOK VALUE
At 31st March 2024 10,756,666 4,536,200 1,557
At 31st March 2023 10,756,666 3,911,102 1,985

Cattle (Holderness) Limited (Registered number: 00599804)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

5. TANGIBLE FIXED ASSETS - continued

Plant & Plant &
machinery Motor machinery
- Arable vehicles - Pigs Totals
£    £    £    £   
COST OR VALUATION
At 1st April 2023 1,975,880 54,072 3,336,751 20,262,258
Additions 20,390 - 1,028,771 1,776,655
Disposals (127,435 ) - - (127,435 )
At 31st March 2024 1,868,835 54,072 4,365,522 21,911,478
DEPRECIATION
At 1st April 2023 1,361,610 28,334 1,426,708 3,042,454
Charge for year 144,477 5,422 418,118 670,841
Eliminated on disposal (95,125 ) - - (95,125 )
At 31st March 2024 1,410,962 33,756 1,844,826 3,618,170
NET BOOK VALUE
At 31st March 2024 457,873 20,316 2,520,696 18,293,308
At 31st March 2023 614,270 25,738 1,910,043 17,219,804

Cost or valuation at 31st March 2024 is represented by:

Plant &
Freehold machinery
property Buildings - Other
£    £    £   
Valuation in 2008 3,202,976 - -
Cost 7,553,690 4,744,488 121,895
10,756,666 4,744,488 121,895

Plant & Plant &
machinery Motor machinery
- Arable vehicles - Pigs Totals
£    £    £    £   
Valuation in 2008 - - - 3,202,976
Cost 1,868,835 54,072 4,365,522 18,708,502
1,868,835 54,072 4,365,522 21,911,478

Cattle (Holderness) Limited (Registered number: 00599804)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023 3,136,000
Disposals (140,000 )
Revaluations (139,000 )
At 31st March 2024 2,857,000
NET BOOK VALUE
At 31st March 2024 2,857,000
At 31st March 2023 3,136,000

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2022 (621 )
Valuation in 2023 1,664,386
Valuation in 2024 (139,000 )
Cost 1,332,235
2,857,000

The investment properties were revalued in December 2021 by Carter Jonas professional valuers. The directors have considered the valuation at the year end date and deem the valuation above to be a reasonable estimate of the current fair value of the investment property.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 244,657 280,079
Other debtors 60,021 183,559
304,678 463,638

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts 2,621,254 1,062,894
Hire purchase contracts (see note 10) 47,371 47,373
Trade creditors 304,194 729,293
Taxation and social security 723 621
Other creditors 1,239,044 1,440,603
4,212,586 3,280,784

Cattle (Holderness) Limited (Registered number: 00599804)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
as restated
£    £   
Bank loans 2,752,549 2,977,829
Hire purchase contracts (see note 10) 68,726 116,099
Amounts owed to group undertakings 2,700,000 2,700,000
5,521,275 5,793,928

Secured loans totalling £1,396,905 (2023 £1,496,168) are repayable by installments over the period to 2030 and carry interest at 4.08% per annum. This is secured on land owned by the company.

Secured loans totalling £1,580,926 (2023 £1,706,940) are repayable by installments over the period to 2034 and carry interest at 3.65% per annum. This is secured on land owned by the company.

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
as restated
£    £   
Net obligations repayable:
Within one year 47,371 47,373
Between one and five years 68,726 116,099
116,097 163,472

Non-cancellable operating leases
2024 2023
as restated
£    £   
Between one and five years 64,159 64,159

Cattle (Holderness) Limited (Registered number: 00599804)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
as restated
£    £   
Bank overdrafts 2,395,976 837,615
Bank loans 2,977,827 3,203,108
5,373,803 4,040,723

The above bank loans have been taken out with Yorkshire Bank, and are secured on land owned by the company.

12. RELATED PARTY DISCLOSURES

Balance of loans outstanding to the directors at the year end £1,214,032 (2023 £1,412,982).