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REGISTERED NUMBER: 07703714 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

ACRE HILL FARMING LIMITED

ACRE HILL FARMING LIMITED (REGISTERED NUMBER: 07703714)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


ACRE HILL FARMING LIMITED (REGISTERED NUMBER: 07703714)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,971,899 2,036,207

CURRENT ASSETS
Stocks 91,111 91,880
Debtors 5 207,323 286,319
298,434 378,199
CREDITORS
Amounts falling due within one year 6 414,041 451,321
NET CURRENT LIABILITIES (115,607 ) (73,122 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,856,292

1,963,085

CREDITORS
Amounts falling due after more than
one year

7

(439,752

)

(560,961

)

PROVISIONS FOR LIABILITIES (92,254 ) -
NET ASSETS 1,324,286 1,402,124

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 1,324,186 1,402,024
SHAREHOLDERS' FUNDS 1,324,286 1,402,124

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.

ACRE HILL FARMING LIMITED (REGISTERED NUMBER: 07703714)

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 19 September 2024 and were signed on its behalf by:





P J Eggleston - Director


ACRE HILL FARMING LIMITED (REGISTERED NUMBER: 07703714)

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


1. STATUTORY INFORMATION

Acre Hill Farming Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07703714

Registered office: Bridge Farm
Long Clawson
Melton Mowbray
Leicestershire
LE14 4NB

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance

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

ACRE HILL FARMING LIMITED (REGISTERED NUMBER: 07703714)

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


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


ACRE HILL FARMING LIMITED (REGISTERED NUMBER: 07703714)

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Freehold Herd Milk Plant and
property account quota machinery Totals
£    £    £    £    £   
COST
At 1 April 2023 937,469 565,230 6,218 775,966 2,284,883
Additions - - - 5,987 5,987
Disposals - (16,346 ) - - (16,346 )
At 31 March 2024 937,469 548,884 6,218 781,953 2,274,524
DEPRECIATION
At 1 April 2023 - - 6,218 242,458 248,676
Charge for year - - - 53,949 53,949
At 31 March 2024 - - 6,218 296,407 302,625
NET BOOK VALUE
At 31 March 2024 937,469 548,884 - 485,546 1,971,899
At 31 March 2023 937,469 565,230 - 533,508 2,036,207

ACRE HILL FARMING LIMITED (REGISTERED NUMBER: 07703714)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 201,080 271,706
Other debtors 6,243 14,613
207,323 286,319

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 8)
179,496

185,007
Hire purchase contracts 32,464 58,733
Trade creditors 94,925 164,730
Taxation and social security 17,388 40,713
Other creditors 89,768 2,138
414,041 451,321

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 8) 439,752 560,961

8. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 56,196 59,604
Bank loans 123,300 125,403
Other loans 87,676 -
267,172 185,007

Amounts falling due between one and two years:
Bank loans - 1-2 years 439,752 560,961

The bank loan is secured by way of a mortgage dated 17 August 2017 giving HSBC a legal charge over 92 acres of land at Slyborough Hill, Long Clawson, Leicestershire and a Fixed and Floating charge dated 9 August 2017 over all assets.

ACRE HILL FARMING LIMITED (REGISTERED NUMBER: 07703714)

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


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary 1 100 100