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REGISTERED NUMBER: 00517321 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2024

for

LOOSE HALL FARM LIMITED

LOOSE HALL FARM LIMITED (Registered number: 00517321)






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


LOOSE HALL FARM LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr A B Morley
Mr R M Morley





SECRETARY: Mr R M Morley





REGISTERED OFFICE: The Farm office
Loose Hall Drive
Hitcham
Ipswich
Suffolk
IP7 7LY





REGISTERED NUMBER: 00517321 (England and Wales)





ACCOUNTANTS: Turner & Ellerby
Chartered Certified Accountants
5 Church Street
Framlingham
Woodbridge
Suffolk
IP13 9BQ

LOOSE HALL FARM LIMITED (Registered number: 00517321)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 7,063,676 6,823,933
Investments 6 2,220,666 1,956,549
Investment property 7 2,815,123 2,815,123
12,099,465 11,595,605

CURRENT ASSETS
Stocks 1,047,093 1,155,455
Debtors 8 240,708 286,033
Cash at bank and in hand 973,627 1,091,730
2,261,428 2,533,218
CREDITORS
Amounts falling due within one year 9 446,688 647,525
NET CURRENT ASSETS 1,814,740 1,885,693
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,914,205

13,481,298

CREDITORS
Amounts falling due after more than one
year

10

(39,373

)

(65,000

)

PROVISIONS FOR LIABILITIES 11 (708,231 ) (576,922 )
NET ASSETS 13,166,601 12,839,376

CAPITAL AND RESERVES
Called up share capital 21,000 21,000
Land revaluation reserve 12 701,990 701,990
Retained earnings 12,443,611 12,116,386
SHAREHOLDERS' FUNDS 13,166,601 12,839,376

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.

LOOSE HALL FARM LIMITED (Registered number: 00517321)

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 28 November 2024 and were signed on its behalf by:





Mr R M Morley - Director


LOOSE HALL FARM LIMITED (Registered number: 00517321)

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

1. STATUTORY INFORMATION

LOOSE HALL FARM 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.

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 as modified by the revaluation of certain assets.

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

Goodwill
SPS/SFP Entitlements, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of one years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Improvements to property - 10% on cost
Plant and machinery - at variable rates on reducing balance

The directors consider that freehold properties are maintained in such a state of repair that their residual value is at least equal to their net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the profit and loss account.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks have been professionally valued in accordance with professional standards in line with HMRC business manuals BIM55400 (previously BEN 19).


LOOSE HALL FARM LIMITED (Registered number: 00517321)

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

2. ACCOUNTING POLICIES - continued
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.

Fixed asset investments
Fixed Asset Investments are recorded at market value. Any gains or losses arising on revaluation are recognized in the profit and loss account..

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
SPS/SFP
Entitlements
£   
COST
At 1 April 2023
and 31 March 2024 43,579
AMORTISATION
At 1 April 2023
and 31 March 2024 43,579
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

LOOSE HALL FARM LIMITED (Registered number: 00517321)

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

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2023 6,191,248 454,231 2,046,620 8,692,099
Additions 98,582 2,423 359,213 460,218
Disposals - - (117,887 ) (117,887 )
At 31 March 2024 6,289,830 456,654 2,287,946 9,034,430
DEPRECIATION
At 1 April 2023 3,888 440,831 1,423,447 1,868,166
Charge for year - 3,975 197,136 201,111
Eliminated on disposal - - (98,523 ) (98,523 )
At 31 March 2024 3,888 444,806 1,522,060 1,970,754
NET BOOK VALUE
At 31 March 2024 6,285,942 11,848 765,886 7,063,676
At 31 March 2023 6,187,360 13,400 623,173 6,823,933

Cost or valuation at 31 March 2024 is represented by:

Improvements
Freehold to Plant and
property property machinery Totals
£    £    £    £   
Valuation in 1987 701,990 - - 701,990
Valuation in 2009 - (35,340 ) - (35,340 )
Cost 5,587,840 491,994 2,287,946 8,367,780
6,289,830 456,654 2,287,946 9,034,430

If freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 6,289,830 6,191,248
Aggregate depreciation 3,888 3,888

Freehold property was valued on an open market basis on 31 March 1987 by the directors .

LOOSE HALL FARM LIMITED (Registered number: 00517321)

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

6. FIXED ASSET INVESTMENTS
Listed Unlisted
investments investments Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 1,956,533 16 1,956,549
Additions 168,394 - 168,394
Disposals (111 ) - (111 )
Revaluations 95,834 - 95,834
At 31 March 2024 2,220,650 16 2,220,666
NET BOOK VALUE
At 31 March 2024 2,220,650 16 2,220,666
At 31 March 2023 1,956,533 16 1,956,549

Cost or valuation at 31 March 2024 is represented by:

Listed Unlisted
investments investments Totals
£    £    £   
Valuation in 2024 842,049 - 842,049
Cost 1,378,601 16 1,378,617
2,220,650 16 2,220,666

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,378,617 1,210,223

Fixed asset investments were valued on an open market basis on 31 March 2024 by Interactive Investor Services Limited .

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 2,815,123
NET BOOK VALUE
At 31 March 2024 2,815,123
At 31 March 2023 2,815,123

LOOSE HALL FARM LIMITED (Registered number: 00517321)

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

7. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 2,239,000
Cost 576,123
2,815,123

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 576,123 576,123

Investment property was valued on an open market basis on 31 March 2024 by the Directors .

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 187,616 235,859
VAT 31,735 20,162
Prepayments 21,357 30,012
240,708 286,033

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 104,374 132,759
Trade creditors 80,581 116,473
Tax 57,872 150,246
Social security and other taxes 3,643 2,991
Other creditors 1,450 1,450
Directors' current accounts 5,149 5,149
Accrued expenses 193,619 238,457
446,688 647,525

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 39,373 65,000

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 708,231 576,922

LOOSE HALL FARM LIMITED (Registered number: 00517321)

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

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 576,922
Charge to Income Statement during year 73,069
Revaluation of investments 58,240
Balance at 31 March 2024 708,231

12. RESERVES
Land
revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 701,990

Retained earnings



Distributable
Non -
Distributable

Total
£   £   £   
Retained earnings at 1 April 20239,467,1862,649,20012,116,386
Profit/(Loss) for the year291,81435,411327,225
Retained earnings at 31 March 20249,759,0002,684,61112,443,611