IRIS Accounts Production v24.3.2.46 00451243 Board of Directors 6.4.23 5.4.24 5.4.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh004512432023-04-05004512432024-04-05004512432023-04-062024-04-05004512432022-04-05004512432022-04-062023-04-05004512432023-04-0500451243ns15:EnglandWales2023-04-062024-04-0500451243ns14:PoundSterling2023-04-062024-04-0500451243ns10:Director12023-04-062024-04-0500451243ns10:PrivateLimitedCompanyLtd2023-04-062024-04-0500451243ns10:SmallEntities2023-04-062024-04-0500451243ns10:AuditExempt-NoAccountantsReport2023-04-062024-04-0500451243ns10:SmallCompaniesRegimeForDirectorsReport2023-04-062024-04-0500451243ns10:SmallCompaniesRegimeForAccounts2023-04-062024-04-0500451243ns10:FullAccounts2023-04-062024-04-0500451243ns10:Director22023-04-062024-04-0500451243ns10:Director32023-04-062024-04-0500451243ns10:CompanySecretary12023-04-062024-04-0500451243ns10:RegisteredOffice2023-04-062024-04-0500451243ns5:CurrentFinancialInstruments2024-04-0500451243ns5:CurrentFinancialInstruments2023-04-0500451243ns5:ShareCapital2024-04-0500451243ns5:ShareCapital2023-04-0500451243ns5:RevaluationReserve2024-04-0500451243ns5:RevaluationReserve2023-04-0500451243ns5:RetainedEarningsAccumulatedLosses2024-04-0500451243ns5:RetainedEarningsAccumulatedLosses2023-04-0500451243ns5:LandBuildings2023-04-062024-04-0500451243ns5:PlantMachinery2023-04-062024-04-0500451243ns5:LandBuildings2023-04-0500451243ns5:PlantMachinery2023-04-0500451243ns5:FurnitureFittings2023-04-0500451243ns5:MotorVehicles2023-04-0500451243ns5:FurnitureFittings2023-04-062024-04-0500451243ns5:MotorVehicles2023-04-062024-04-0500451243ns5:LandBuildings2024-04-0500451243ns5:PlantMachinery2024-04-0500451243ns5:FurnitureFittings2024-04-0500451243ns5:MotorVehicles2024-04-0500451243ns5:LandBuildings2023-04-0500451243ns5:PlantMachinery2023-04-0500451243ns5:FurnitureFittings2023-04-0500451243ns5:MotorVehicles2023-04-0500451243ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-0500451243ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-0500451243ns5:RevaluationReserve2023-04-05
REGISTERED NUMBER: 00451243 (England and Wales)















FRED HINCHLIFFE & SONS LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024






FRED HINCHLIFFE & SONS LIMITED (REGISTERED NUMBER: 00451243)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5TH APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FRED HINCHLIFFE & SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 5TH APRIL 2024







DIRECTORS: C W Hinchliffe
Mrs K M Wordsworth
B Wordsworth



SECRETARY: Mrs K M Wordsworth



REGISTERED OFFICE: Pease Farm
Little Airmyn
Drax
Selby
YO8 8PT



REGISTERED NUMBER: 00451243 (England and Wales)



ACCOUNTANTS: W H Prior
Chartered Certified Accountants
Railway Court
Off Ten Pound Walk
Doncaster
South Yorkshire
DN4 5FB



BANKERS: National Westminster Bank
1 High Street
Doncaster
DN1 1ED



SOLICITORS: Jordans Solicitors LLP
4 Priory Place
Doncaster
DN1 1BP

FRED HINCHLIFFE & SONS LIMITED (REGISTERED NUMBER: 00451243)

BALANCE SHEET
5TH APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 317,373 310,813

CURRENT ASSETS
Stocks 5 95,483 121,677
Debtors 6 67,697 67,180
Cash at bank 527,285 606,206
690,465 795,063
CREDITORS
Amounts falling due within one year 7 158,815 214,721
NET CURRENT ASSETS 531,650 580,342
TOTAL ASSETS LESS CURRENT
LIABILITIES

849,023

891,155

PROVISIONS FOR LIABILITIES 45,483 43,843
NET ASSETS 803,540 847,312

CAPITAL AND RESERVES
Called up share capital 24,980 24,980
Revaluation reserve 9 30,669 30,669
Retained earnings 747,891 791,663
SHAREHOLDERS' FUNDS 803,540 847,312

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5th April 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.

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 3rd January 2025 and were signed on its behalf by:




C W Hinchliffe - Director


FRED HINCHLIFFE & SONS LIMITED (REGISTERED NUMBER: 00451243)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5TH APRIL 2024


1. STATUTORY INFORMATION

Fred Hinchliffe & Sons 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.

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 as modified by the revaluation of certain assets.

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

Turnover represents the amount derived from the provision of goods and services falling within the company's activities after deduction of trade discounts and value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 10% on cost
Plant and machinery etc - at varying rates on cost and at variable rates on reducing balance

No depreciation is provided on freehold farm land.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Produce is valued at the proportion of market value approximating to cost . Growing crops are valued at the lower of cost and net realisable value. Cost includes all direct costs relating to location and condition at the Balance Sheet date.

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.

FRED HINCHLIFFE & SONS LIMITED (REGISTERED NUMBER: 00451243)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5TH APRIL 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Land and Plant and and Motor
buildings machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 6th April 2023 279,356 1,418,468 799 26,251 1,724,874
Additions - 64,290 - - 64,290
Disposals - (12,500 ) - - (12,500 )
At 5th April 2024 279,356 1,470,258 799 26,251 1,776,664
DEPRECIATION
At 6th April 2023 163,226 1,223,834 799 26,202 1,414,061
Charge for year - 48,449 - 13 48,462
Eliminated on disposal - (3,232 ) - - (3,232 )
At 5th April 2024 163,226 1,269,051 799 26,215 1,459,291
NET BOOK VALUE
At 5th April 2024 116,130 201,207 - 36 317,373
At 5th April 2023 116,130 194,634 - 49 310,813

Included in cost or valuation of land and buildings is freehold land of £ 116,130 (2023 - £ 116,130 ) which is not depreciated.

Cost or valuation at 5th April 2024 is represented by:

Fixtures
Land and Plant and and Motor
buildings machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 1971 52,200 - - - 52,200
Cost 227,156 1,470,258 799 26,251 1,724,464
279,356 1,470,258 799 26,251 1,776,664

FRED HINCHLIFFE & SONS LIMITED (REGISTERED NUMBER: 00451243)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5TH APRIL 2024


4. TANGIBLE FIXED ASSETS - continued

If freehold land at £52,200 value had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 21,531 21,531

Value of land in freehold land and buildings 116,130 116,130

Freehold land was valued on an open market basis on 15th April 1971 by professional agricultural valuers .

No liability to Corporation tax would arise on a disposal at the balance sheet valuation.

The net book value of tangible fixed assets includes £NIL (2023 - £ 85,374 ) in respect of assets held under hire purchase contracts.

5. STOCKS
2024 2023
£    £   
Produce and stores stocks 47,202 74,292
Growing crops 48,281 47,385
95,483 121,677

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 41,018 35,289
VAT 1,210 8,046
Prepayments 25,469 23,845
67,697 67,180

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 19,685
Trade creditors 5,263 6,163
Taxation and social security 1,551 35,881
Other creditors 152,001 152,992
158,815 214,721

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts - 19,685

FRED HINCHLIFFE & SONS LIMITED (REGISTERED NUMBER: 00451243)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5TH APRIL 2024


9. RESERVES
Revaluation
reserve
£   
At 6th April 2023
and 5th April 2024 30,669

10. ULTIMATE CONTROLLING PARTY

The controlling party is C W Hinchliffe.