Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29false222023-03-01FarmingtruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12185985 2023-03-01 2024-02-29 12185985 2022-03-01 2023-02-28 12185985 2024-02-29 12185985 2023-02-28 12185985 c:Director1 2023-03-01 2024-02-29 12185985 c:Director2 2023-03-01 2024-02-29 12185985 c:RegisteredOffice 2023-03-01 2024-02-29 12185985 d:Buildings 2023-03-01 2024-02-29 12185985 d:Buildings 2024-02-29 12185985 d:Buildings 2023-02-28 12185985 d:Buildings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 12185985 d:PlantMachinery 2023-03-01 2024-02-29 12185985 d:PlantMachinery 2024-02-29 12185985 d:PlantMachinery 2023-02-28 12185985 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 12185985 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 12185985 d:CurrentFinancialInstruments 2024-02-29 12185985 d:CurrentFinancialInstruments 2023-02-28 12185985 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 12185985 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 12185985 d:ShareCapital 2024-02-29 12185985 d:ShareCapital 2023-02-28 12185985 d:OtherMiscellaneousReserve 2023-03-01 2024-02-29 12185985 d:OtherMiscellaneousReserve 2024-02-29 12185985 d:OtherMiscellaneousReserve 2023-02-28 12185985 d:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-29 12185985 d:RetainedEarningsAccumulatedLosses 2024-02-29 12185985 d:RetainedEarningsAccumulatedLosses 2023-02-28 12185985 c:FRS102 2023-03-01 2024-02-29 12185985 c:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 12185985 c:FullAccounts 2023-03-01 2024-02-29 12185985 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12185985 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-03-01 2024-02-29 12185985 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-02-29 12185985 2 2023-03-01 2024-02-29 12185985 6 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 12185985










BURNSIDE ESTATE COMPANY HOLDINGS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
BURNSIDE ESTATE COMPANY HOLDINGS LTD
 
 
COMPANY INFORMATION


Directors
A LaMarche 
N F Ogg 




Registered number
12185985



Registered office
7 The Close

Norwich

Norfolk

NR7 0YW




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
BURNSIDE ESTATE COMPANY HOLDINGS LTD
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2 - 3
Notes to the Financial Statements
 
 
4 - 9


 
BURNSIDE ESTATE COMPANY HOLDINGS LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BURNSIDE ESTATE COMPANY HOLDINGS LTD
FOR THE YEAR ENDED 29 FEBRUARY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Burnside Estate Company Holdings Ltd for the year ended 29 February 2024 which comprise the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Burnside Estate Company Holdings Ltd, as a body, in accordance with the terms of our engagement letter dated 25 June 2024Our work has been undertaken solely to prepare for your approval the financial statements of Burnside Estate Company Holdings Ltd  and state those matters that we have agreed to state to the Board of Directors of Burnside Estate Company Holdings Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Burnside Estate Company Holdings Ltd and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Burnside Estate Company Holdings Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Burnside Estate Company Holdings Ltd. You consider that Burnside Estate Company Holdings Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Burnside Estate Company Holdings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
29 November 2024
Page 1

 
BURNSIDE ESTATE COMPANY HOLDINGS LTD
REGISTERED NUMBER: 12185985

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
776,458
770,266

Investments
 5 
124,070
116,450

  
900,528
886,716

Current assets
  

Stocks
  
18,682
14,796

Debtors: amounts falling due within one year
 6 
58,770
50,194

Cash at bank and in hand
  
103,556
135,038

  
181,008
200,028

Creditors: amounts falling due within one year
 7 
(707,152)
(739,871)

Net current liabilities
  
 
 
(526,144)
 
 
(539,843)

Total assets less current liabilities
  
374,384
346,873

Provisions for liabilities
  

Deferred tax
  
(2,617)
(2,059)

  
 
 
(2,617)
 
 
(2,059)

Net assets
  
371,767
344,814


Capital and reserves
  

Called up share capital 
  
1,001
1,001

Other reserves
 8 
4,740
(2,446)

Profit and loss account
 8 
366,026
346,259

  
371,767
344,814


Page 2

 
BURNSIDE ESTATE COMPANY HOLDINGS LTD
REGISTERED NUMBER: 12185985
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 November 2024.




N F Ogg
Director

The notes on pages 4 to 9 form part of these financial statements.


Page 3

 
BURNSIDE ESTATE COMPANY HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

The company is a private company limited by shares. It is incorporated in England and Wales and domiciled in Scotland. The registered office is 7 The Close, Norwich, NR1 4DJ. The principal place of business is Scotland.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises revenue recognised by the company in respect of crops sold, work done, rents and grants receivable, exclusive of Value Added Tax.

Revenue is recognised in the following manner:-

Crops sold - on physical delivery to the customer;
Work done - on completion of engagement;
Rents - amounts receivable in the year;
Grants income - in the year when the qualifying conditions entitling payment are met.

 
2.3

Interest income

Interest income is recognised in the Profit and Loss Account using the effective interest method.

Page 4

 
BURNSIDE ESTATE COMPANY HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.

Depreciation is provided on the following basis:

Buildings
-
Not depreciated
Plant and equipment
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
BURNSIDE ESTATE COMPANY HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

Stocks

Stocks and closing valuation for cultivations (work in progress) are valued at the lower of cost and net realisable value.
Costs have been determined from cost of production calculations. Net realisable value represents estimated selling price for produce in store with values reduced in accordance with guidance within H M Revenue & Customs help sheet HS232. 
Consumable stocks are valued at cost.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
BURNSIDE ESTATE COMPANY HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 7

 
BURNSIDE ESTATE COMPANY HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Freehold land & buildings
Plant & machinery
Total

£
£
£



Cost or valuation


At 1 March 2023
725,098
67,786
792,884


Additions
15,286
7,000
22,286



At 29 February 2024

740,384
74,786
815,170



Depreciation


At 1 March 2023
-
22,618
22,618


Charge for the year on owned assets
-
16,094
16,094



At 29 February 2024

-
38,712
38,712



Net book value



At 29 February 2024
740,384
36,074
776,458



At 28 February 2023
725,098
45,168
770,266


5.


Fixed asset investments








Listed investments
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 1 March 2023
110,299
6,151
116,450


Additions
-
215
215


Revaluations
7,405
-
7,405



At 29 February 2024
117,704
6,366
124,070




Page 8

 
BURNSIDE ESTATE COMPANY HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
25,446
9,352

Other debtors
33,324
40,842

58,770
50,194



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
66,238
18,432

Other creditors
640,914
721,439

707,152
739,871



8.


Reserves

Other reserves

The fair value reserve represents the cumulative value of revaluations of listed investments to fair value, net of deferred tax.  The amounts debited or credited to this reserve are transfers from the profit and loss account.  Deferred tax is provided for on these fair value adjustments at the standard rate of corporation tax.

Profit & loss account

The profit and loss account includes all current and prior period retained profits and losses.


9.


Related party transactions

At the year end, the balance on a loan owing to one of the directors was £634,805. This amount is included within other creditors in note 7 to the financial statements, is interest free and repayable when company funds permit.

Page 9