Registration number:
Blythe Bridge Hall Farm Limited
for the Year Ended 29 February 2024
Blythe Bridge Hall Farm Limited
Contents
Company Information |
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Director's Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Blythe Bridge Hall Farm Limited
Company Information
Director |
Mr T F Holland |
Company secretary |
Mrs S A Holland |
Registered office |
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Accountants |
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Blythe Bridge Hall Farm Limited
Director's Report for the Year Ended 29 February 2024
The director presents his report and the financial statements for the year ended 29 February 2024.
Director of the company
The director who held office during the year was as follows:
Small companies provision statement
This report has 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
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Blythe Bridge Hall Farm Limited
(Registration number: 08392458)
Balance Sheet as at 29 February 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
218,560 |
197,868 |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
197,480 |
197,480 |
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Retained earnings |
74,131 |
24,510 |
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Shareholders' funds |
271,611 |
221,990 |
For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his 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 and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland'.
Approved and authorised by the
Blythe Bridge Hall Farm Limited
(Registration number: 08392458)
Balance Sheet as at 29 February 2024 (continued)
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Blythe Bridge Hall Farm Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
General information |
The company is a private company limited by share capital incorporated in England and Wales registration number: 08392458.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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 presentation currency is £ sterling.
Revenue recognition
Turnover comprises the value of goods and livestock sold, services rendered and other farming receipts during the year and are exclusive of value added tax.
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.
Blythe Bridge Hall Farm Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)
2 |
Accounting policies (continued) |
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
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 |
Plant and machinery |
15% reducing balance |
Office equipment |
33% straight line basis |
Buildings |
5% straight line basis |
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.
Biological assets are included at deprecated cost. Livestock which is homebred, farm reared or acquired some time before maturity and matured on the farm is valued at deemed cost at the following rates: cattle and sheep 60% and 75% of open market value. An election has been made to tax herds and flocks on the herd basis.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Blythe Bridge Hall Farm Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)
2 |
Accounting policies (continued) |
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 March 2023 |
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Additions |
- |
- |
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Disposals |
- |
- |
( |
( |
At 29 February 2024 |
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Depreciation |
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At 1 March 2023 |
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Charge for the year |
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Eliminated on disposal |
- |
- |
( |
( |
At 29 February 2024 |
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Carrying amount |
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At 29 February 2024 |
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- |
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At 28 February 2023 |
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Included within the net book value of land and buildings above is £183,210 (2023 - £200,886) in respect of freehold land and buildings.
Blythe Bridge Hall Farm Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)
Debtors |
Current |
2024 |
2023 |
Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Leases are secured against the assets to which they relate.
The Bounce Back Loan is 100% Government guaranteed.
Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Other creditors |
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Leases are secured against the assets to which they relate.
The Bounce Back Loan is 100% Government guaranteed.
Blythe Bridge Hall Farm Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)
Loans and borrowings |
Current loans and borrowings
2024 |
2023 |
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Bank borrowings |
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Hire purchase contracts |
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Non-current loans and borrowings
2024 |
2023 |
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Bank borrowings |
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Hire purchase contracts |
- |
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