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REGISTERED NUMBER: 01053413 (England and Wales)















R. H-J. (FARMS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024






R. H-J. (FARMS) LIMITED (REGISTERED NUMBER: 01053413)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 8


R. H-J. (FARMS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 5 APRIL 2024







DIRECTORS: Mr R Hall-Jones
Mrs K M Hall-Jones
Mr A C Hall-Jones





SECRETARY: Mr R Hall-Jones





REGISTERED OFFICE: Hare Hills Farm
Toynton St Peter
Spilsby
Lincolnshire
PE23 5AY





REGISTERED NUMBER: 01053413 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR

R. H-J. (FARMS) LIMITED (REGISTERED NUMBER: 01053413)

STATEMENT OF FINANCIAL POSITION
5 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,688,757 4,701,382
4,688,757 4,701,382

CURRENT ASSETS
Valuation 319,477 369,711
Debtors 6 331,398 319,479
Cash at bank and in hand 221,331 32,088
872,206 721,278
CREDITORS
Amounts falling due within one year 7 407,014 276,391
NET CURRENT ASSETS 465,192 444,887
TOTAL ASSETS LESS CURRENT LIABILITIES 5,153,949 5,146,269

CREDITORS
Amounts falling due after more than one year 8 (2,231,181 ) (2,543,687 )

PROVISIONS FOR LIABILITIES (330,214 ) (282,883 )
NET ASSETS 2,592,554 2,319,699

CAPITAL AND RESERVES
Called up share capital 10 50 50
Capital redemption reserve 51 51
Retained earnings 2,592,453 2,319,598
SHAREHOLDERS' FUNDS 2,592,554 2,319,699

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 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.

R. H-J. (FARMS) LIMITED (REGISTERED NUMBER: 01053413)

STATEMENT OF FINANCIAL POSITION - continued
5 APRIL 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 Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:




Mr R Hall-Jones - Director Mrs K M Hall-Jones - Director




Mr A C Hall-Jones - Director


R. H-J. (FARMS) LIMITED (REGISTERED NUMBER: 01053413)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

1. STATUTORY INFORMATION

R. H-J. (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. 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.

Turnover
Turnover represents net invoiced sales of produce, excluding value added tax, and includes the Basic Payment Scheme and environmental subsidies.

Sales of produce are recognised upon despatch. Work done is recognised at the point of supply.

The Basic Payment Scheme is recognised in the financial statements in accordance with current HM Revenue & Customs guidance.

Intangible assets - entitlements
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated impairment losses. The purchase of entitlements are being amortised on a straight line basis from the month of acquisition 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 10% on cost, 5% on cost, 4% on reducing balance, 4% on cost and not provided
Plant and machinery etc - 4% on cost and 15% to 25% on reducing balance

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.

Stocks
Valuation and work in progress are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing valuation to their present location and condition.

R. H-J. (FARMS) LIMITED (REGISTERED NUMBER: 01053413)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt the FRS 102A 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.

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 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the income statement over the relevant period. The capital element of the future payments is treated as a liability.

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.

Government grants
Capital grants received are initially recognised as a liability and subsequently released to the income statement over the life of the associated asset acquired.

R. H-J. (FARMS) LIMITED (REGISTERED NUMBER: 01053413)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 6 April 2023
and 5 April 2024 130,633
AMORTISATION
At 6 April 2023
and 5 April 2024 130,633
NET BOOK VALUE
At 5 April 2024 -
At 5 April 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 6 April 2023 4,614,747 2,219,121 6,833,868
Additions 55,701 159,937 215,638
Disposals - (116,285 ) (116,285 )
At 5 April 2024 4,670,448 2,262,773 6,933,221
DEPRECIATION
At 6 April 2023 672,693 1,459,793 2,132,486
Charge for year 74,078 147,861 221,939
Eliminated on disposal - (109,961 ) (109,961 )
At 5 April 2024 746,771 1,497,693 2,244,464
NET BOOK VALUE
At 5 April 2024 3,923,677 765,080 4,688,757
At 5 April 2023 3,942,054 759,328 4,701,382

Included in cost of land and buildings is freehold land of £ 2,556,599 (2023 - £ 2,556,599 ) which is not depreciated.


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 170,856 117,879
Other debtors 160,542 201,600
331,398 319,479

R. H-J. (FARMS) LIMITED (REGISTERED NUMBER: 01053413)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 30,000 40,000
Hire purchase contracts 129,583 80,875
Trade creditors 136,670 126,250
Taxation and social security 99,010 8,769
Other creditors 11,751 20,497
407,014 276,391

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 2,165,687 2,439,383
Hire purchase contracts 58,345 98,821
Other creditors 7,149 5,483
2,231,181 2,543,687

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more than 5 years 1,361,036 1,411,036

Repayable by instalments
Bank loans 684,651 808,347

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 2,195,687 2,479,383
Hire purchase contracts 187,928 179,696
2,383,615 2,659,079

Bank loans are secured by a fixed charge over land and buildings, including fixed plant and machinery.

Hire purchase contracts are secured on the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
26 Ordinary A £1 26 26
24 Ordinary B £1 24 24
50 50

R. H-J. (FARMS) LIMITED (REGISTERED NUMBER: 01053413)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2024

11. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 100,000 -