Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-0144truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00438093 2023-04-01 2024-03-31 00438093 2022-04-01 2023-03-31 00438093 2024-03-31 00438093 2023-03-31 00438093 c:Director1 2023-04-01 2024-03-31 00438093 d:Buildings 2023-04-01 2024-03-31 00438093 d:Buildings 2024-03-31 00438093 d:Buildings 2023-03-31 00438093 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00438093 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 00438093 d:Buildings d:LongLeaseholdAssets 2024-03-31 00438093 d:Buildings d:LongLeaseholdAssets 2023-03-31 00438093 d:PlantMachinery 2023-04-01 2024-03-31 00438093 d:PlantMachinery 2024-03-31 00438093 d:PlantMachinery 2023-03-31 00438093 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00438093 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00438093 d:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 00438093 d:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 00438093 d:CopyrightsPatentsTrademarksServiceOperatingRights 2024-03-31 00438093 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-03-31 00438093 d:CurrentFinancialInstruments 2024-03-31 00438093 d:CurrentFinancialInstruments 2023-03-31 00438093 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 00438093 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00438093 d:ShareCapital 2024-03-31 00438093 d:ShareCapital 2023-03-31 00438093 d:SharePremium 2024-03-31 00438093 d:SharePremium 2023-03-31 00438093 d:RetainedEarningsAccumulatedLosses 2024-03-31 00438093 d:RetainedEarningsAccumulatedLosses 2023-03-31 00438093 c:FRS102 2023-04-01 2024-03-31 00438093 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 00438093 c:FullAccounts 2023-04-01 2024-03-31 00438093 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00438093 2 2023-04-01 2024-03-31 00438093 6 2023-04-01 2024-03-31 00438093 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 00438093

















RANWORTH FARMS LIMITED

UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2024

 
RANWORTH FARMS LIMITED
REGISTERED NUMBER:00438093

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,247,734
1,225,891

Investments
 6 
130
130

  
1,247,864
1,226,021

Current assets
  

Stocks
  
166,571
202,774

Debtors: amounts falling due within one year
 7 
104,025
55,280

Cash at bank and in hand
  
117,647
119,129

  
388,243
377,183

Creditors: amounts falling due within one year
 8 
(85,418)
(66,266)

Net current assets
  
 
 
302,825
 
 
310,917

Total assets less current liabilities
  
1,550,689
1,536,938

Provisions for liabilities
  

Deferred tax
  
(6,209)
(269)

  
 
 
(6,209)
 
 
(269)

Net assets
  
1,544,480
1,536,669


Capital and reserves
  

Called up share capital 
  
9,450
9,450

Share premium account
  
27,000
27,000

Profit and loss account
  
1,508,030
1,500,219

  
1,544,480
1,536,669


Page 1

 
RANWORTH FARMS LIMITED
REGISTERED NUMBER:00438093
    
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 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: 




................................................
Mrs J P Cator
Director

Date: 19 November 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
RANWORTH FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Ranworth Farms Limited is a private company limited by shares and incorporated in England and Wales, registration number 00438093. The registered office is The Maltings, Ranworth, Norwich, Norfolk, NR13 6HS.

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.

 
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.

Page 3

 
RANWORTH FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

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

 
RANWORTH FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Freehold land
-
Land is not depreciated
Improvements to property
-
10% straight line
Plant and machinery
-
20% / 25% 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. 

 
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 Income Statement 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 weighted average 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.

 
2.11

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.

 
2.12

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 5

 
RANWORTH FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.13

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).


4.


Intangible assets




Sugar beet contract entitlement
BPS entitlements
Total

£
£
£



Cost


At 1 April 2023
1,426
44,820
46,246



At 31 March 2024

1,426
44,820
46,246



Amortisation


At 1 April 2023
1,426
44,820
46,246



At 31 March 2024

1,426
44,820
46,246



Net book value



At 31 March 2024
-
-
-



At 31 March 2023
-
-
-



Page 6

 
RANWORTH FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Freehold land
Long-term leasehold property
Plant and machinery
Total

£
£
£
£



Cost or valuation


At 1 April 2023
1,215,567
62,461
237,644
1,515,672


Additions
-
16,985
9,500
26,485


Disposals
-
-
(5,750)
(5,750)



At 31 March 2024

1,215,567
79,446
241,394
1,536,407



Depreciation


At 1 April 2023
-
62,461
227,320
289,781


Charge for the year on owned assets
-
-
4,402
4,402


Disposals
-
-
(5,510)
(5,510)



At 31 March 2024

-
62,461
226,212
288,673



Net book value



At 31 March 2024
1,215,567
16,985
15,182
1,247,734



At 31 March 2023
1,215,567
-
10,324
1,225,891

Page 7

 
RANWORTH FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 April 2023
130



At 31 March 2024
130





7.


Debtors

2024
2023
£
£


Trade debtors
9,366
7,196

Other debtors
58,939
48,084

Prepayments and accrued income
35,720
-

104,025
55,280



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
33,246
15,399

Corporation tax
-
8,267

Other creditors
52,172
42,600

85,418
66,266


 
Page 8