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REGISTERED NUMBER: 00619366 (England and Wales)















HIGHLANDS FARM LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






HIGHLANDS FARM LIMITED (REGISTERED NUMBER: 00619366)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


HIGHLANDS FARM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: P A Redwood





SECRETARY: W M Redwood





REGISTERED OFFICE: Grange Farm
Hale Road
Horsington
Woodhall Spa
Lincolnshire
LN10 5ES





REGISTERED NUMBER: 00619366 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
Oxley House
Lincoln Way
Louth
Lincolnshire
LN11 0LS

HIGHLANDS FARM LIMITED (REGISTERED NUMBER: 00619366)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,646 1,646
Tangible assets 5 596,008 576,806
597,654 578,452

CURRENT ASSETS
Valuation 46,259 65,460
Debtors 6 22,261 6,907
Cash at bank 167,482 164,457
236,002 236,824
CREDITORS
Amounts falling due within one year 7 52,159 47,366
NET CURRENT ASSETS 183,843 189,458
TOTAL ASSETS LESS CURRENT LIABILITIES 781,497 767,910

PROVISIONS FOR LIABILITIES 10,137 5,123
NET ASSETS 771,360 762,787

CAPITAL AND RESERVES
Called up share capital 8 10,000 10,000
Retained earnings 761,360 752,787
SHAREHOLDERS' FUNDS 771,360 762,787

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 30 December 2024 and were signed by:





P A Redwood - Director


HIGHLANDS FARM LIMITED (REGISTERED NUMBER: 00619366)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Highlands Farm 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. 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.

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.

Entitlements are being amortised evenly over their estimated useful life of nil years.

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 - 4% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stock represents the farm valuation which has been valued by the director at the lower of cost and net realisable value.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

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. Accounts 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.


HIGHLANDS FARM LIMITED (REGISTERED NUMBER: 00619366)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Single farm payment
The Single Farm Payment is recognised in the financial statements in accordance with current H. M. Revenue & Customs guidance.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023
and 30 June 2024 1,646
NET BOOK VALUE
At 30 June 2024 1,646
At 30 June 2023 1,646

HIGHLANDS FARM LIMITED (REGISTERED NUMBER: 00619366)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2023 549,846 278,583 4,237 25,990 858,656
Additions - 26,731 - - 26,731
At 30 June 2024 549,846 305,314 4,237 25,990 885,387
DEPRECIATION
At 1 July 2023 - 264,120 4,200 13,530 281,850
Charge for year - 4,407 6 3,116 7,529
At 30 June 2024 - 268,527 4,206 16,646 289,379
NET BOOK VALUE
At 30 June 2024 549,846 36,787 31 9,344 596,008
At 30 June 2023 549,846 14,463 37 12,460 576,806

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,511 -
Other debtors 7,750 6,907
22,261 6,907

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 24,003 3,911
Taxation and social security 382 7,829
Other creditors 27,774 35,626
52,159 47,366

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary £1 10,000 10,000

9. RELATED PARTY DISCLOSURES

Remuneration paid to the directors during the year was £6,240 (2023: £6,240).