IRIS Accounts Production v24.3.2.46 00637736 Board of Directors 1.7.23 30.6.24 30.6.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh006377362023-06-30006377362024-06-30006377362023-07-012024-06-30006377362022-06-30006377362022-07-012023-06-30006377362023-06-3000637736ns15:EnglandWales2023-07-012024-06-3000637736ns14:PoundSterling2023-07-012024-06-3000637736ns10:Director12023-07-012024-06-3000637736ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3000637736ns10:SmallEntities2023-07-012024-06-3000637736ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3000637736ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3000637736ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3000637736ns10:FullAccounts2023-07-012024-06-300063773612023-07-012024-06-3000637736ns10:Director22023-07-012024-06-3000637736ns10:RegisteredOffice2023-07-012024-06-3000637736ns5:CurrentFinancialInstruments2024-06-3000637736ns5:CurrentFinancialInstruments2023-06-3000637736ns5:Non-currentFinancialInstruments2024-06-3000637736ns5:Non-currentFinancialInstruments2023-06-3000637736ns5:ShareCapital2024-06-3000637736ns5:ShareCapital2023-06-3000637736ns5:RetainedEarningsAccumulatedLosses2024-06-3000637736ns5:RetainedEarningsAccumulatedLosses2023-06-3000637736ns5:IntangibleAssetsOtherThanGoodwill2023-06-3000637736ns5:IntangibleAssetsOtherThanGoodwill2024-06-3000637736ns5:IntangibleAssetsOtherThanGoodwill2023-06-3000637736ns5:LandBuildings2023-06-3000637736ns5:PlantMachinery2023-06-3000637736ns5:LandBuildings2023-07-012024-06-3000637736ns5:PlantMachinery2023-07-012024-06-3000637736ns5:LandBuildings2024-06-3000637736ns5:PlantMachinery2024-06-3000637736ns5:LandBuildings2023-06-3000637736ns5:PlantMachinery2023-06-3000637736ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3000637736ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3000637736ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-06-3000637736ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-06-3000637736ns5:Secured2024-06-3000637736ns5:Secured2023-06-30
REGISTERED NUMBER: 00637736 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Thatchers Farm Limited

Thatchers Farm Limited (Registered number: 00637736)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Thatchers Farm Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mrs A F Hance
T P J Hance





REGISTERED OFFICE: Little Thatchers
Roxwell
Chelmsford
Essex
CM1 4LX





REGISTERED NUMBER: 00637736 (England and Wales)





ACCOUNTANTS: Xeinadin South East Limited
The Old Grange
Warren Estate
Lordship Road
Writtle
Essex
CM1 3WT

Thatchers Farm Limited (Registered number: 00637736)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,000 4,000
Tangible assets 5 1,879,643 1,827,114
1,883,643 1,831,114

CURRENT ASSETS
Stocks 112,397 167,335
Debtors 6 21,795 33,367
Cash at bank and in hand 189,703 267,796
323,895 468,498
CREDITORS
Amounts falling due within one year 7 107,212 164,799
NET CURRENT ASSETS 216,683 303,699
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,100,326

2,134,813

CREDITORS
Amounts falling due after more than one
year

8

(292,097

)

(339,774

)

PROVISIONS FOR LIABILITIES (39,000 ) (40,000 )
NET ASSETS 1,769,229 1,755,039

CAPITAL AND RESERVES
Called up share capital 215,000 215,000
Retained earnings 1,554,229 1,540,039
SHAREHOLDERS' FUNDS 1,769,229 1,755,039

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 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.

Thatchers Farm Limited (Registered number: 00637736)

Balance Sheet - continued
30 June 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 6 January 2025 and were signed on its behalf by:





T P J Hance - Director


Thatchers Farm Limited (Registered number: 00637736)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Thatchers 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.

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.

Significant judgements and estimates
No significant judgements or estimations have been applied in the preparation of the financial statements.

Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.

Tangible fixed assets
Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates, in order to write off each asset over its estimated useful life:

- Land - nil
- Buildings - 2% on cost
- Plant and machinery etc - 10% on reducing balance, 15% on reducing balance and 33% on cost
- Tractors and combines - 25% on reducing balance
- Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost of production and net realisable value.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares

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.


Thatchers Farm Limited (Registered number: 00637736)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

Other financial liabilities, including bank loans are also measured at transaction price since the difference between this basis and the amortised cost basis is not material.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023
and 30 June 2024 4,000
NET BOOK VALUE
At 30 June 2024 4,000
At 30 June 2023 4,000

Thatchers Farm Limited (Registered number: 00637736)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 1,693,884 703,149 2,397,033
Additions 62,268 20,114 82,382
Disposals - (2,995 ) (2,995 )
At 30 June 2024 1,756,152 720,268 2,476,420
DEPRECIATION
At 1 July 2023 78,088 491,831 569,919
Charge for year 6,123 23,303 29,426
Eliminated on disposal - (2,568 ) (2,568 )
At 30 June 2024 84,211 512,566 596,777
NET BOOK VALUE
At 30 June 2024 1,671,941 207,702 1,879,643
At 30 June 2023 1,615,796 211,318 1,827,114

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,368 1,168
Other debtors 9,427 32,199
21,795 33,367

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 28,693 27,419
Trade creditors 38,316 42,420
Amounts owed to related parties 8,800 8,800
Taxation and social security 9,763 34,341
Other creditors 21,640 51,819
107,212 164,799

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 122,872 117,415
Other creditors 169,225 222,359
292,097 339,774

Thatchers Farm Limited (Registered number: 00637736)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
in more than five years 169,225 222,359

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgages 155,790 202,192
Trust loans 165,000 165,000
320,790 367,192

The company created charges dated 9 July 2010, to secure all monies due or to become due from the company to the trustees of the T R Hance Settlement and the A F Hance Settlement. The charges are secured on Little Thatchers Farmhouse and 1 and 2 Thatchers Cottages.

The bank loans are secured by a charge dated 17 March 2016 against the freehold property known as Thatchers Farm and by a charge dated 24 January 2020 over land at Thatchers Farm.