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REGISTERED NUMBER: 00688483 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Monks Hall Farms Limited

Monks Hall Farms Limited (Registered number: 00688483)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 7


Monks Hall Farms Limited

Company Information
for the Year Ended 31 March 2024







Directors: D A Casswell
F N Casswell





Secretary: A Casswell





Registered office: Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB





Business address: Monks Hall
Quadring Road
Gosberton
Spalding
Lincolnshire
PE11 4NB





Registered number: 00688483 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Monks Hall Farms Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Monks Hall Farms Limited for the year ended 31 March 2024 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Monks Hall Farms Limited, as a body, in accordance with the terms of our engagement letter dated 8 October 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Monks Hall Farms Limited and state those matters that we have agreed to state to the Board of Directors of Monks Hall Farms Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Monks Hall Farms Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Monks Hall Farms Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Monks Hall Farms Limited. You consider that Monks Hall Farms Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Monks Hall Farms Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


23 December 2024

Monks Hall Farms Limited (Registered number: 00688483)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Biological assets 5 22,737 70,629
Tangible assets 6 394,799 417,024
417,536 487,653

Current assets
Stocks 83,719 40,858
Debtors 7 22,485 117,152
Cash at bank and in hand 265,422 173,840
371,626 331,850
Creditors
Amounts falling due within one year 8 68,525 85,827
Net current assets 303,101 246,023
Total assets less current liabilities 720,637 733,676

Provisions for liabilities 44,287 43,981
Net assets 676,350 689,695

Capital and reserves
Called up share capital 9 16,000 16,000
Retained earnings 660,350 673,695
Shareholders' funds 676,350 689,695

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.

Monks Hall Farms Limited (Registered number: 00688483)

Statement of Financial Position - 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 23 December 2024 and were signed on its behalf by:





D A Casswell - Director


Monks Hall Farms Limited (Registered number: 00688483)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. Statutory information

Monks Hall Farms 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.

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


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
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.

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.

Biological asset is being amortised evenly over its estimated useful life of nil years.

Biological assets
to be entered

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 10% reducing balance
Plant and machinery - 15% reducing balance
Land - Not depreciated

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

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 statement of financial position date.


Monks Hall Farms Limited (Registered number: 00688483)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Biological assets
Biological assets measured under the fair value model are valued on initial recognition and at each reporting date at fair value less costs to sell. Changes in fair value less costs to sell are recognised in profit or loss.

Agricultural produce harvested from these biological assets is measured at the point of harvest at its fair value less costs to sell.

Biological assets measured under the cost model are held at cost less any accumulated depreciation and any accumulated impairment losses.

Agricultural produce harvested from these biological assets is measured at the point of harvest at either: the lower of cost and estimated selling price less costs to complete and sell; or its fair value less costs to sell. Any gain or loss arising on initial recognition of produce at fair value less costs to sell is included in profit or loss for the period.

4. Employees and directors

The average number of employees during the year was 2 (2023 - 3 ) .

5. Intangible fixed assets
Other
intangible
assets
£   
Cost
At 1 April 2023 70,629
Purchases 22,737
Harvest (70,629 )
At 31 March 2024 22,737
Net book value
At 31 March 2024 22,737
At 31 March 2023 70,629

Monks Hall Farms Limited (Registered number: 00688483)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. Tangible fixed assets
Land and Plant and
buildings machinery Totals
£    £    £   
Cost
At 1 April 2023 266,243 584,890 851,133
Additions - 9,461 9,461
At 31 March 2024 266,243 594,351 860,594
Depreciation
At 1 April 2023 49,242 384,867 434,109
Charge for year 263 31,423 31,686
At 31 March 2024 49,505 416,290 465,795
Net book value
At 31 March 2024 216,738 178,061 394,799
At 31 March 2023 217,001 200,023 417,024

7. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 11,120 102,103
VAT 1,635 5,868
Prepayments 9,730 9,181
22,485 117,152

8. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 26,413 55,134
Social security and other taxes 2,399 1,823
Directors' current accounts 33,486 23,043
Accruals and deferred income 6,227 5,827
68,525 85,827

Hire purchase and finance lease creditors are secured on the assets concerned.

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
16,000 Ordinary shares £1 16,000 16,000