IRIS Accounts Production v24.3.0.553 00657453 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh006574532023-03-31006574532024-03-31006574532023-04-012024-03-31006574532022-03-31006574532022-04-012023-03-31006574532023-03-3100657453ns15:EnglandWales2023-04-012024-03-3100657453ns14:PoundSterling2023-04-012024-03-3100657453ns10:Director12023-04-012024-03-3100657453ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3100657453ns10:SmallEntities2023-04-012024-03-3100657453ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3100657453ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3100657453ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3100657453ns10:FullAccounts2023-04-012024-03-310065745312023-04-012024-03-3100657453ns10:OrdinaryShareClass12023-04-012024-03-3100657453ns10:Director22023-04-012024-03-3100657453ns10:CompanySecretary12023-04-012024-03-3100657453ns10:RegisteredOffice2023-04-012024-03-3100657453ns5:CurrentFinancialInstruments2024-03-3100657453ns5:CurrentFinancialInstruments2023-03-3100657453ns5:Non-currentFinancialInstruments2024-03-3100657453ns5:Non-currentFinancialInstruments2023-03-3100657453ns5:ShareCapital2024-03-3100657453ns5:ShareCapital2023-03-3100657453ns5:CapitalRedemptionReserve2024-03-3100657453ns5:CapitalRedemptionReserve2023-03-3100657453ns5:RetainedEarningsAccumulatedLosses2024-03-3100657453ns5:RetainedEarningsAccumulatedLosses2023-03-3100657453ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3100657453ns5:PatentsTrademarksLicencesConcessionsSimilar2023-04-012024-03-3100657453ns5:LongLeaseholdAssetsns5:LandBuildings2023-04-012024-03-3100657453ns5:PlantMachinery2023-04-012024-03-3100657453ns5:IntangibleAssetsOtherThanGoodwill2023-03-3100657453ns5:IntangibleAssetsOtherThanGoodwill2024-03-3100657453ns5:IntangibleAssetsOtherThanGoodwill2023-03-3100657453ns5:LandBuildings2023-03-3100657453ns5:PlantMachinery2023-03-3100657453ns5:LandBuildings2023-04-012024-03-3100657453ns5:LandBuildings2024-03-3100657453ns5:PlantMachinery2024-03-3100657453ns5:LandBuildings2023-03-3100657453ns5:PlantMachinery2023-03-3100657453ns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3100657453ns5:CostValuation2023-03-3100657453ns5:AdditionsToInvestments2024-03-3100657453ns5:CostValuation2024-03-3100657453ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3100657453ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3100657453ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2024-03-3100657453ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-03-3100657453ns5:Secured2024-03-3100657453ns5:Secured2023-03-3100657453ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 00657453 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

DAVID FOOT LIMITED

DAVID FOOT LIMITED (REGISTERED NUMBER: 00657453)

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


DAVID FOOT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S P Foot
J C Foot





SECRETARY: J C Foot





REGISTERED OFFICE: Bayard Dairy Farm Office
Goulds Hill
Upwey
Weymouth
Dorset
DT3 4EL





REGISTERED NUMBER: 00657453 (England and Wales)





ACCOUNTANTS: Fawcetts LLP
Chartered Accountants
Windover House
St Ann Street
Salisbury
SP1 2DR

DAVID FOOT LIMITED (REGISTERED NUMBER: 00657453)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 10,905,788 8,833,076
Investments 6 496,422 459,521
11,402,210 9,292,597

CURRENT ASSETS
Stocks 1,895,991 1,899,813
Debtors 7 2,240,825 2,211,969
Cash at bank and in hand 7,315 484
4,144,131 4,112,266
CREDITORS
Amounts falling due within one year 8 2,002,167 1,850,573
NET CURRENT ASSETS 2,141,964 2,261,693
TOTAL ASSETS LESS CURRENT LIABILITIES 13,544,174 11,554,290

CREDITORS
Amounts falling due after more than one
year

9

(5,734,253

)

(4,163,203

)

PROVISIONS FOR LIABILITIES (1,181,856 ) (808,707 )
NET ASSETS 6,628,065 6,582,380

CAPITAL AND RESERVES
Called up share capital 11 12,480 12,480
Capital redemption reserve 13,680 13,680
Retained earnings 6,601,905 6,556,220
SHAREHOLDERS' FUNDS 6,628,065 6,582,380

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.

DAVID FOOT LIMITED (REGISTERED NUMBER: 00657453)

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 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 20 November 2024 and were signed on its behalf by:





J C Foot - Director


DAVID FOOT LIMITED (REGISTERED NUMBER: 00657453)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

David Foot 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.

The financial statements have been prepared on a going concern basis and are presented in Sterling (£) which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents net invoiced sales of goods and services excluding value added tax.

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.

Purchased milk quota are being amortised evenly over their estimated useful life of nil years.

Intangible fixed asset
The intangible fixed asset comprises additional milk quota purchased and is being amortised on a straight line basis over six years.

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.
Freehold land and buildings - 10% on cost
Plant and machinery - 25% on reducing balance, 15% on reducing balance, 10% on reducing balance, 10% on cost and at varying rates on cost

Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low value with a short life. Repair, renovation and replacement expenditure is written off as expenditure in the profit and loss account. The cost of fixed assets is their purchase cost, together with any incidental costs of acquisition.

Stocks
Stock is valued at the lower of cost and net realisable value.



DAVID FOOT LIMITED (REGISTERED NUMBER: 00657453)

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 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 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. 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 profit or loss 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 defined contribution pension schemes. Contributions payable for the period are charged in the profit and loss account.

Debtors
Debtors are measured at their recoverable amount.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2023 - 45 ) .

DAVID FOOT LIMITED (REGISTERED NUMBER: 00657453)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 823,650
AMORTISATION
At 1 April 2023
and 31 March 2024 823,650
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 5,061,814 6,784,191 11,846,005
Additions 855,810 1,725,258 2,581,068
Disposals - (163,250 ) (163,250 )
At 31 March 2024 5,917,624 8,346,199 14,263,823
DEPRECIATION
At 1 April 2023 619,340 2,393,589 3,012,929
Charge for year - 442,942 442,942
Eliminated on disposal - (97,836 ) (97,836 )
At 31 March 2024 619,340 2,738,695 3,358,035
NET BOOK VALUE
At 31 March 2024 5,298,284 5,607,504 10,905,788
At 31 March 2023 4,442,474 4,390,602 8,833,076

Included in cost of land and buildings is freehold land of £ 5,293,684 (2023 - £ 475,000 ) which is not depreciated.

The net book value of plant and machinery includes £2,651,414 (2023 - £1,140,930) in respect of assets held under hire purchase contracts.

DAVID FOOT LIMITED (REGISTERED NUMBER: 00657453)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023 459,521
Additions 36,901
At 31 March 2024 496,422
NET BOOK VALUE
At 31 March 2024 496,422
At 31 March 2023 459,521

The directors have not followed the description set out in the Companies Act 2006 for fixed asset investments because, in their opinion, the financial statements give a truer and fairer view of the company's financial position using this alternative presentation.

7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 445,851 479,155
Other debtors 594,975 532,815
1,040,826 1,011,970

Amounts falling due after more than one year:
Other debtors 1,199,999 1,199,999

Aggregate amounts 2,240,825 2,211,969

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 919,749 490,376
Hire purchase contracts 417,977 386,198
Trade creditors 427,430 734,990
Taxation and social security 24,115 35,776
Other creditors 212,896 203,233
2,002,167 1,850,573

DAVID FOOT LIMITED (REGISTERED NUMBER: 00657453)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 4,878,129 3,795,186
Hire purchase contracts 856,124 368,017
5,734,253 4,163,203

Amounts falling due in more than five years:

Repayable by instalments
Bank loan 3,239,315 2,701,510

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 560,190 245,716
Bank loans 5,237,688 4,039,846
5,797,878 4,285,562

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
12,480 Ordinary £1 12,480 12,480

12. RELATED PARTY DISCLOSURES

Included in creditors due within one year is £4,000 (2023 - £1,865) due to the directors of the company.