Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity88truetruefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01148230 2023-04-01 2024-03-31 01148230 2022-04-01 2023-03-31 01148230 2024-03-31 01148230 2023-03-31 01148230 c:Director1 2023-04-01 2024-03-31 01148230 c:Director7 2023-04-01 2024-03-31 01148230 d:Buildings 2023-04-01 2024-03-31 01148230 d:Buildings 2024-03-31 01148230 d:Buildings 2023-03-31 01148230 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01148230 d:Buildings d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 01148230 d:LandBuildings 2024-03-31 01148230 d:LandBuildings 2023-03-31 01148230 d:PlantMachinery 2023-04-01 2024-03-31 01148230 d:PlantMachinery 2024-03-31 01148230 d:PlantMachinery 2023-03-31 01148230 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01148230 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 01148230 d:MotorVehicles 2023-04-01 2024-03-31 01148230 d:MotorVehicles 2024-03-31 01148230 d:MotorVehicles 2023-03-31 01148230 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01148230 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 01148230 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01148230 d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 01148230 d:FreeholdInvestmentProperty 2024-03-31 01148230 d:FreeholdInvestmentProperty 2023-03-31 01148230 d:CurrentFinancialInstruments 2024-03-31 01148230 d:CurrentFinancialInstruments 2023-03-31 01148230 d:Non-currentFinancialInstruments 2024-03-31 01148230 d:Non-currentFinancialInstruments 2023-03-31 01148230 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 01148230 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01148230 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 01148230 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 01148230 d:ShareCapital 2024-03-31 01148230 d:ShareCapital 2023-03-31 01148230 d:SharePremium 2024-03-31 01148230 d:SharePremium 2023-03-31 01148230 d:InvestmentPropertiesRevaluationReserve 2024-03-31 01148230 d:InvestmentPropertiesRevaluationReserve 2023-03-31 01148230 d:RetainedEarningsAccumulatedLosses 2024-03-31 01148230 d:RetainedEarningsAccumulatedLosses 2023-03-31 01148230 c:OrdinaryShareClass1 2023-04-01 2024-03-31 01148230 c:OrdinaryShareClass1 2024-03-31 01148230 c:OrdinaryShareClass1 2023-03-31 01148230 c:FRS102 2023-04-01 2024-03-31 01148230 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01148230 c:FullAccounts 2023-04-01 2024-03-31 01148230 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01148230 6 2023-04-01 2024-03-31 01148230 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 01148230 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 01148230 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 01148230 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 01148230 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-03-31 01148230 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-03-31 01148230 d:LeasedAssetsHeldAsLessee 2024-03-31 01148230 d:LeasedAssetsHeldAsLessee 2023-03-31 01148230 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01148230










CROWMARSH BATTLE FARMS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
CROWMARSH BATTLE FARMS LIMITED
REGISTERED NUMBER: 01148230

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
                                                                   Note
£
£

Fixed assets
  

Tangible assets
 4 
5,627,051
5,674,076

Investments
 5 
1,295
1,295

Investment property
 6 
2,801,183
2,801,183

  
8,429,529
8,476,554

Current assets
  

Stocks
 7 
487,959
652,806

Debtors: amounts falling due within one year
 8 
268,150
446,233

Cash at bank and in hand
  
422,092
320,605

  
1,178,201
1,419,644

Creditors: amounts falling due within one year
 9 
(934,811)
(1,085,945)

Net current assets
  
 
 
243,390
 
 
333,699

Total assets less current liabilities
  
8,672,919
8,810,253

Creditors: amounts falling due after more than one year
 10 
(1,707,830)
(1,974,253)

Provisions for liabilities
  

Deferred tax
 11 
(347,019)
(332,593)

  
 
 
(347,019)
 
 
(332,593)

Net assets
  
6,618,070
6,503,407


Capital and reserves
  

Called up share capital 
 12 
100,000
100,000

Share premium account
  
473,555
473,555

Investment property reserve
  
90,579
90,579

Profit and loss account
  
5,953,936
5,839,273

  
6,618,070
6,503,407


Page 1

 
CROWMARSH BATTLE FARMS LIMITED
REGISTERED NUMBER: 01148230

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 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 statement of comprehensive income 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: 






P W Chamberlain
C R Chamberlain
Director
Director


Date: 28 November 2024
Date:28 November 2024

The notes on pages 3 to 11 form part of these financial statements.
Page 2

 
CROWMARSH BATTLE FARMS LIMITED
 

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

1.


General information

Crowmarsh Battle Farms Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 01148230 and the registered office and principal place of business address is Crowmarsh Battle Farm, 84 Preston Crowmarsh, Wallingford, OX10 6SL.  

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 following principal accounting policies have been applied:

 
2.2

Revenue

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.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
CROWMARSH BATTLE FARMS LIMITED
 

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

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

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.

 
2.7

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

 
CROWMARSH BATTLE FARMS LIMITED
 

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

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

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, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
4.0%
Plant and machinery
-
12.5%
Motor vehicles
-
25.0%

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.

  
2.8

Investment property

Investment property is carried at fair value determined annually by the directors or a qualified valuer and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

 
2.9

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 Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

  
2.10

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 following basis.
Corn in Store
At deemed cost of production being 75% of market value, or the lower of cost and net realisable value in respect of purchased grain.
Hay and Straw
At deemed cost of production being 75% of market value, or at actual cost where determinable.
Stores 
At cost or net realisable value.
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.

Page 5

 
CROWMARSH BATTLE FARMS LIMITED
 

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

2.Accounting policies (continued)

  
2.11

Biological assets

Tillages and growing crops are classified as biological assets under FRS 102, and are included at the cost of the beneficial acts of husbandry. Tillages are not depreciated as they are considered to be current assets with a useful economic life of less than one year.  

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

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.

Page 6

 
CROWMARSH BATTLE FARMS LIMITED
 

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

3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 8).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 April 2023
5,000,254
3,135,436
58,603
8,194,293


Additions
-
467,894
-
467,894


Disposals
-
(430,376)
-
(430,376)



At 31 March 2024

5,000,254
3,172,954
58,603
8,231,811



Depreciation


At 1 April 2023
359,252
2,128,750
32,215
2,520,217


Charge for the year on owned assets
67,438
289,280
10,603
367,321


Charge for the year on financed assets
-
(67,590)
-
(67,590)


Disposals
-
(215,188)
-
(215,188)



At 31 March 2024

426,690
2,135,252
42,818
2,604,760



Net book value



At 31 March 2024
4,573,564
1,037,702
15,785
5,627,051



At 31 March 2023
4,641,002
1,006,686
26,388
5,674,076




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Freehold
4,573,564
4,641,002

4,573,564
4,641,002


Page 7

 
CROWMARSH BATTLE 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
569,356
447,134

569,356
447,134


5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 April 2023
1,295



At 31 March 2024
1,295





6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
2,801,183



At 31 March 2024
2,801,183

The 2024 valuations were made by the directors, on an open market value for existing use basis.


2024
2023
£
£


Historic cost
2,183,669
2,183,669

2,183,669
2,183,669

Page 8

 
CROWMARSH BATTLE FARMS LIMITED
 

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

7.


Stocks

2024
2023
£
£

Biological assets
203,685
155,536

Closing stock
284,274
497,270

487,959
652,806



8.


Debtors

2024
2023
£
£


Trade debtors
214,833
303,787

Other debtors
13,250
13,422

Prepayments and accrued income
40,067
129,024

268,150
446,233



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
235,272
214,736

Other loans
317,276
313,736

Trade creditors
40,699
122,001

Corporation tax
45,695
127,738

Other taxation and social security
13,588
9,094

Obligations under finance lease and hire purchase contracts
134,769
140,393

Accruals and deferred income
147,512
158,247

934,811
1,085,945


Secured Loans
Bank loans of £235,272 (2023: £214,736) are secured against freehold land and buildings.  
Hire purchase and finance lease liabilities of £134,769 (2023: £140,393) are secured against the assets financed.

Page 9

 
CROWMARSH BATTLE FARMS LIMITED
 

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

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,669,609
1,869,014

Net obligations under finance leases and hire purchase contracts
38,221
105,239

1,707,830
1,974,253


Secured Loans
Bank loans of £1,669,609 (2023: £1,869,014) are secured against freehold land and buildings.  
Hire purchase and finance lease liabilities of £38,221 (2023: £105,239) are secured against the assets financed.


11.


Deferred taxation




2024


£






At beginning of year
(332,593)


Charged to profit or loss
(14,426)



At end of year
(347,019)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fixed asset timing differences
(323,140)
(308,713)

Capital gains/(losses)
(23,879)
(23,880)

(347,019)
(332,593)


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100,000 (2023 - 100,000) Ordinary shares of £1.00 each
100,000
100,000


Page 10

 
CROWMARSH BATTLE FARMS LIMITED
 

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

13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £13,689 (2023: £12,966). 


14.


Related party transactions

Included within other loans (note 11) are interest free loans made by the directors of £57,353 (2023: £57,353).
Also included within other loans (note 11) is an interest-bearing loan made by a director of £212,000 (2023: £212,000).  Interest is payable on this loan at 4% per annum.
The loans are considered to be rolling loans repayable on demand.


Page 11