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REGISTERED NUMBER: 00382662 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Pinnock Farms Limited

Pinnock Farms Limited (Registered number: 00382662)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pinnock Farms Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: R F Knapton
B J Knapton





SECRETARY: Mrs M M Knapton





REGISTERED OFFICE: Manor Farm
Coleby
Scunthorpe
North Lincolnshire
DN15 9AL





REGISTERED NUMBER: 00382662 (England and Wales)






Pinnock Farms Limited (Registered number: 00382662)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 616,835 626,548
Investments 5 1 1
616,836 626,549

CURRENT ASSETS
Stocks 90,112 112,600
Debtors 6 46,720 76,633
Cash at bank 283 278
137,115 189,511
CREDITORS
Amounts falling due within one year 7 366,242 321,685
NET CURRENT LIABILITIES (229,127 ) (132,174 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

387,709

494,375

CREDITORS
Amounts falling due after more than one
year

8

(50,330

)

(108,113

)

PROVISIONS FOR LIABILITIES (10,972 ) (25,992 )
NET ASSETS 326,407 360,270

CAPITAL AND RESERVES
Called up share capital 501 501
Retained earnings 325,906 359,769
SHAREHOLDERS' FUNDS 326,407 360,270

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.

Pinnock Farms Limited (Registered number: 00382662)

Balance Sheet - 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 14 November 2024 and were signed on its behalf by:





R F Knapton - Director


Pinnock Farms Limited (Registered number: 00382662)

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

1. STATUTORY INFORMATION

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

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 - 15% on cost and 5% on reducing balance
Plant and machinery etc - 15% on cost and 10% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Stock is valued on a first in first out basis

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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
Investments held as fixed assets are shown at cost less provision for impairment.

Pinnock Farms Limited (Registered number: 00382662)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Operating leases
Rentals under operating leases are charged to the profit and loss account on a straight line basis over the lease term.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 676,362 575,755 1,252,117
Additions - 28,967 28,967
At 31 March 2024 676,362 604,722 1,281,084
DEPRECIATION
At 1 April 2023 251,490 374,079 625,569
Charge for year 2,659 36,021 38,680
At 31 March 2024 254,149 410,100 664,249
NET BOOK VALUE
At 31 March 2024 422,213 194,622 616,835
At 31 March 2023 424,872 201,676 626,548

Included in land and buildings is freehold land at cost of £328,358 (2023 - £328,358) which is not depreciated.

Included in plant and machinery are assets held under hire purchase agreements with a net book value of £142,984 (2023 - £126,885).

Pinnock Farms Limited (Registered number: 00382662)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 55 19,696
Amounts owed by group undertakings 44,459 44,339
Other debtors 2,206 12,598
46,720 76,633

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 80,449 90,947
Hire purchase contracts 31,962 14,424
Trade creditors 14,738 8,716
Taxation and social security 458 4,061
Other creditors 238,635 203,537
366,242 321,685

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 28,566 63,041
Hire purchase contracts 21,764 45,072
50,330 108,113

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 8,567 13,042

Pinnock Farms Limited (Registered number: 00382662)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank overdrafts 70,449 75,947
Bank loans 38,566 78,041
Hire purchase contracts 53,726 59,496
162,741 213,484

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

Bank loans and overdrafts are secured against the land, freehold property, fixtures & fittings within the company.

10. RELATED PARTY DISCLOSURES

31.3.24 31.3.23
£ £
Balance owing from parent company 44,459 44,446