Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falseNo description of principal activity24truetruefalse 00861870 2023-04-01 2024-03-31 00861870 2022-04-01 2023-03-31 00861870 2024-03-31 00861870 2023-03-31 00861870 c:Director1 2023-04-01 2024-03-31 00861870 d:Buildings 2023-04-01 2024-03-31 00861870 d:Buildings 2024-03-31 00861870 d:Buildings 2023-03-31 00861870 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00861870 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 00861870 d:PlantMachinery 2023-04-01 2024-03-31 00861870 d:PlantMachinery 2024-03-31 00861870 d:PlantMachinery 2023-03-31 00861870 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00861870 d:MotorVehicles 2023-04-01 2024-03-31 00861870 d:MotorVehicles 2024-03-31 00861870 d:MotorVehicles 2023-03-31 00861870 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00861870 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 00861870 d:OtherPropertyPlantEquipment 2024-03-31 00861870 d:OtherPropertyPlantEquipment 2023-03-31 00861870 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00861870 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00861870 d:CurrentFinancialInstruments 2024-03-31 00861870 d:CurrentFinancialInstruments 2023-03-31 00861870 d:Non-currentFinancialInstruments 2024-03-31 00861870 d:Non-currentFinancialInstruments 2023-03-31 00861870 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 00861870 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00861870 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 00861870 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 00861870 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 00861870 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 00861870 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 00861870 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 00861870 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 00861870 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 00861870 d:UKTax 2023-04-01 2024-03-31 00861870 d:UKTax 2022-04-01 2023-03-31 00861870 d:ShareCapital 2024-03-31 00861870 d:ShareCapital 2023-03-31 00861870 d:RetainedEarningsAccumulatedLosses 2024-03-31 00861870 d:RetainedEarningsAccumulatedLosses 2023-03-31 00861870 c:FRS102 2023-04-01 2024-03-31 00861870 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 00861870 c:FullAccounts 2023-04-01 2024-03-31 00861870 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00861870 2 2023-04-01 2024-03-31 00861870 6 2023-04-01 2024-03-31 00861870 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-03-31 00861870 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-03-31 00861870 d:LeasedAssetsHeldAsLessee 2024-03-31 00861870 d:LeasedAssetsHeldAsLessee 2023-03-31 00861870 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 00861870










SOUTH ELMHAM HALL FARMS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
SOUTH ELMHAM HALL FARMS LIMITED
REGISTERED NUMBER:00861870

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
297,880
318,684

Investments
 5 
50
50

  
297,930
318,734

Current assets
  

Stocks
  
72,150
66,406

Debtors: amounts falling due within one year
 6 
96,463
84,768

Cash at bank and in hand
 7 
126,321
38,131

  
294,934
189,305

Creditors: amounts falling due within one year
 8 
(148,812)
(139,382)

Net current assets
  
 
 
146,122
 
 
49,923

Total assets less current liabilities
  
444,052
368,657

Creditors: amounts falling due after more than one year
 9 
(65,309)
(68,323)

Provisions for liabilities
  

Deferred tax
  
(59,504)
(65,670)

  
 
 
(59,504)
 
 
(65,670)

Net assets
  
319,239
234,664

Page 1

 
SOUTH ELMHAM HALL FARMS LIMITED
REGISTERED NUMBER:00861870
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
  
16,000
16,000

Profit and loss account
  
303,239
218,664

  
319,239
234,664


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 income statement 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 by: 




Mr J Sanderson
Director

Date: 30 November 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
SOUTH ELMHAM HALL FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

South Elmham Hall Farms Limited is a private company limited by shares and incorporated in England and Wales, registration number 00861870. The registered office is South Elmham Hall, St Cross, Harleston, Norfolk, IP20 0PZ.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. 
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. 

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
SOUTH ELMHAM HALL FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Income statement in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

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 reporting 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 reporting 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 reporting date.


 
2.6

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.

Page 4

 
SOUTH ELMHAM HALL FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Cottage & Hall Improvements
-
10% straight line
Farm Improvements
-
10% straight line
Machinery and equipment
-
15% reducing balance
Motor vehicles
-
25% reducing balance

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.

 
2.7

Valuation of investments

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

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a deemed cost basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Page 5

 
SOUTH ELMHAM HALL FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)


 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
36,827
-

Adjustments in respect of previous periods
-
(8,899)


36,827
(8,899)


Total current tax
36,827
(8,899)

Deferred tax


Origination and reversal of timing differences
(6,166)
41,461

Total deferred tax
(6,166)
41,461


Tax on profit
30,661
32,562

Factors affecting tax charge for the year

There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of  19% (2023 - 19%).



Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 6

 
SOUTH ELMHAM HALL FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Farm Improvements
Cottage and Hall Improve-ments
Machinery & equipment
Motor vehicles
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
198,893
431,202
765,159
33,054
1,428,308


Additions
16,107
5,925
30,849
-
52,881



At 31 March 2024

215,000
437,127
796,008
33,054
1,481,189



Depreciation


At 1 April 2023
99,430
409,098
586,443
14,653
1,109,624


Charge for the year on owned assets
21,500
5,680
41,904
4,601
73,685



At 31 March 2024

120,930
414,778
628,347
19,254
1,183,309



Net book value



At 31 March 2024
94,070
22,349
167,661
13,800
297,880



At 31 March 2023
99,463
22,104
178,716
18,401
318,684

Page 7

 
SOUTH ELMHAM HALL FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
87,424
109,280

87,424
109,280


5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 April 2023
50



At 31 March 2024
50





6.


Debtors

2024
2023
£
£


Trade debtors
56
48,965

Other debtors
28,735
23,355

Prepayments and accrued income
67,672
12,448

96,463
84,768



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
126,321
38,131

126,321
38,131


Page 8

 
SOUTH ELMHAM HALL FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
3,517
2,939

Trade creditors
11,406
15,883

Corporation tax
36,827
-

Other taxation and social security
73
77

Obligations under finance lease and hire purchase contracts
11,010
22,020

Other creditors
51,777
61,153

Accruals and deferred income
34,202
37,310

148,812
139,382



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
54,299
57,313

Net obligations under finance leases and hire purchase contracts
11,010
11,010

65,309
68,323


Net obligations under finance leases and hire purchase contracts are secured on the assets acquired.

Page 9

 
SOUTH ELMHAM HALL FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Loans


2024
2023
£
£

Amounts falling due within one year

Bank loans
3,517
2,939


3,517
2,939

Amounts falling due 1-2 years

Bank loans
3,796
3,666


3,796
3,666

Amounts falling due 2-5 years

Bank loans
14,014
10,999


14,014
10,999

Amounts falling due after more than 5 years

Bank loans
36,489
42,647

36,489
42,647

57,816
60,251


Page 10

 
SOUTH ELMHAM HALL FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

Page 11