Boarstall Farms Ltd 7413382 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is farming. Digita Accounts Production Advanced 6.30.9574.0 true false 7413382 2023-04-01 2024-03-31 7413382 2024-03-31 7413382 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2024-03-31 7413382 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2024-03-31 7413382 bus:OrdinaryShareClass3 bus:Non-cumulativeNon-redeemableShares 2024-03-31 7413382 core:CurrentFinancialInstruments 2024-03-31 7413382 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 7413382 core:FurnitureFittings 2024-03-31 7413382 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 7413382 core:PlantMachinery 2024-03-31 7413382 core:ParentEntities 2024-03-31 7413382 bus:SmallEntities 2023-04-01 2024-03-31 7413382 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 7413382 bus:FilletedAccounts 2023-04-01 2024-03-31 7413382 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 7413382 bus:RegisteredOffice 2023-04-01 2024-03-31 7413382 bus:Director2 2023-04-01 2024-03-31 7413382 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-04-01 2024-03-31 7413382 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2023-04-01 2024-03-31 7413382 bus:OrdinaryShareClass3 bus:Non-cumulativeNon-redeemableShares 2023-04-01 2024-03-31 7413382 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 7413382 core:FurnitureFittings 2023-04-01 2024-03-31 7413382 core:LandBuildings 2023-04-01 2024-03-31 7413382 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 7413382 core:PlantMachinery 2023-04-01 2024-03-31 7413382 core:ParentEntities 2023-04-01 2024-03-31 7413382 1 2023-04-01 2024-03-31 7413382 countries:EnglandWales 2023-04-01 2024-03-31 7413382 2023-03-31 7413382 core:FurnitureFittings 2023-03-31 7413382 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 7413382 core:PlantMachinery 2023-03-31 7413382 2021-10-01 2023-03-31 7413382 2023-03-31 7413382 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-03-31 7413382 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2023-03-31 7413382 bus:OrdinaryShareClass3 bus:Non-cumulativeNon-redeemableShares 2023-03-31 7413382 core:CurrentFinancialInstruments 2023-03-31 7413382 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 7413382 core:FurnitureFittings 2023-03-31 7413382 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 7413382 core:PlantMachinery 2023-03-31 7413382 core:ParentEntities 2023-03-31 7413382 core:ParentEntities 2021-10-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 7413382

Boarstall Farms Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Boarstall Farms Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Boarstall Farms Ltd

(Registration number: 7413382)
Balance Sheet as at 31 March 2024

Note

31 March
2024
£

31 March
2023
£

Fixed assets

 

Tangible assets

4

13,080,732

13,430,107

Investment property

5

524,826

-

 

13,605,558

13,430,107

Current assets

 

Stocks

6

215,972

248,415

Debtors

7

447,430

248,796

Cash at bank and in hand

 

83,358

339,706

 

746,760

836,917

Creditors: Amounts falling due within one year

8

(391,243)

(279,985)

Net current assets

 

355,517

556,932

Net assets

 

13,961,075

13,987,039

Capital and reserves

 

Called up share capital

9

300

300

Retained earnings

13,960,775

13,986,739

Shareholders' funds

 

13,961,075

13,987,039

For the financial year 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

Approved and authorised by the Board on 4 November 2024 and signed on its behalf by:
 

.........................................
Sir H E Aubrey-Fletcher KCVO
Director

 

Boarstall Farms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Estate Office
Dorton Road
Chilton
Aylesbury
Buckinghamshire
HP18 9LR

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods 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 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.

 

Boarstall Farms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet 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 and buildings

Nil

Plant and machinery

20% straight line

Furniture and fittings

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business.

Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Boarstall Farms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

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

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

13,382,091

83,234

60,158

13,525,483

Additions

157,217

-

34,284

191,501

Disposals

(524,826)

-

-

(524,826)

At 31 March 2024

13,014,482

83,234

94,442

13,192,158

Depreciation

At 1 April 2023

-

76,937

18,439

95,376

Charge for the year

-

2,100

13,950

16,050

At 31 March 2024

-

79,037

32,389

111,426

Carrying amount

At 31 March 2024

13,014,482

4,197

62,053

13,080,732

At 31 March 2023

13,382,091

6,297

41,719

13,430,107

Included within the net book value of land and buildings above is £13,014,482 (2023 - £13,382,091) in respect of freehold land and buildings.
 

 

Boarstall Farms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Investment properties

31 March
2024
£

Transfers to and from Tangible assets

524,826

At 31 March

524,826

Valuation of investment properties has been determined by the director at year end.

6

Stocks

31 March
2024
£

31 March
2023
£

Stock

215,972

248,415

7

Debtors

31 March
2024
£

31 March
2023
£

Trade debtors

24,344

10,561

Prepayments

6,069

28,817

Other debtors

417,017

209,418

447,430

248,796

8

Creditors

Creditors: amounts falling due within one year

Note

31 March
2024
£

31 March
2023
£

Due within one year

 

Trade creditors

 

92,523

7,906

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

269,798

207,405

Taxation and social security

 

4,503

36,622

Accruals and deferred income

 

22,067

22,817

Other creditors

 

2,352

5,235

 

391,243

279,985

 

Boarstall Farms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Share capital

Allotted, called up and fully paid shares

31 March
2024

31 March
2023

No.

£

No.

£

Ordinary A Shares of £1 each

100

100

100

100

Ordinary B Shares of £1 each

100

100

100

100

Ordinary C Shares of £1 each

100

100

100

100

300

300

300

300

10

Related party transactions

Summary of transactions with parent

Chilton Home Farms Limited
 During the period Boarstall Farms Ltd made sales of £306,097 (2023: £269,732) to, and purchased goods and services of £368,490 (2023: £398,251) from Chilton Home Farms Limited. At 31 March 2024 the balance owing to Chilton Home Farms was £269,798 (2023: £207,405).
 

Loans from related parties

2024

Parent
£

Total
£

At end of period

-

-

2023

Parent
£

Total
£

Advanced

5,500,000

5,500,000

Impairment

(5,500,000)

(5,500,000)

At end of period

-

-

Terms of loans from related parties

During the period no loans were waived between Chilton Home Farms Limited and Boarstall Farms Ltd. (2023: £5,500,000).
 

11

Parent and ultimate parent undertaking

The company's immediate parent is Chilton Home Farms Limited, incorporated in England and Wales.

  These financial statements are available upon request from The Estate Office, Dorton Road, Chilton, Aylesbury, Buckinghamshire, HP18 9NA

 The ultimate controlling party is the Discretionary Settlement "No 1" Trust.