Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-307080952023-05-01No description of principal activityfalse73truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00792276 2023-05-01 2024-04-30 00792276 2022-05-01 2023-04-30 00792276 2024-04-30 00792276 2023-04-30 00792276 c:Director1 2023-05-01 2024-04-30 00792276 c:Director2 2023-05-01 2024-04-30 00792276 d:Buildings 2023-05-01 2024-04-30 00792276 d:Buildings 2024-04-30 00792276 d:Buildings 2023-04-30 00792276 d:Buildings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 00792276 d:Buildings d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 00792276 d:Buildings d:LongLeaseholdAssets 2023-05-01 2024-04-30 00792276 d:PlantMachinery 2023-05-01 2024-04-30 00792276 d:PlantMachinery 2024-04-30 00792276 d:PlantMachinery 2023-04-30 00792276 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 00792276 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 00792276 d:MotorVehicles 2023-05-01 2024-04-30 00792276 d:FurnitureFittings 2023-05-01 2024-04-30 00792276 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 00792276 d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 00792276 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-30 00792276 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-30 00792276 d:CurrentFinancialInstruments 2024-04-30 00792276 d:CurrentFinancialInstruments 2023-04-30 00792276 d:Non-currentFinancialInstruments 2024-04-30 00792276 d:Non-currentFinancialInstruments 2023-04-30 00792276 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 00792276 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 00792276 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 00792276 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 00792276 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 00792276 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 00792276 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 00792276 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 00792276 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-04-30 00792276 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-04-30 00792276 d:ShareCapital 2024-04-30 00792276 d:ShareCapital 2023-04-30 00792276 d:SharePremium 2024-04-30 00792276 d:SharePremium 2023-04-30 00792276 d:RetainedEarningsAccumulatedLosses 2024-04-30 00792276 d:RetainedEarningsAccumulatedLosses 2023-04-30 00792276 c:FRS102 2023-05-01 2024-04-30 00792276 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 00792276 c:FullAccounts 2023-05-01 2024-04-30 00792276 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 00792276 d:MoreThanFiveYears 2024-04-30 00792276 d:MoreThanFiveYears 2023-04-30 00792276 d:HirePurchaseContracts d:WithinOneYear 2024-04-30 00792276 d:HirePurchaseContracts d:WithinOneYear 2023-04-30 00792276 d:HirePurchaseContracts d:MoreThanFiveYears 2024-04-30 00792276 d:HirePurchaseContracts d:MoreThanFiveYears 2023-04-30 00792276 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-04-30 00792276 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-04-30 00792276 6 2023-05-01 2024-04-30 00792276 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 00792276 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 00792276 d:TaxLossesCarry-forwardsDeferredTax 2024-04-30 00792276 d:TaxLossesCarry-forwardsDeferredTax 2023-04-30 00792276 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-04-30 00792276 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-04-30 00792276 d:LeasedAssetsHeldAsLessee 2024-04-30 00792276 d:LeasedAssetsHeldAsLessee 2023-04-30 00792276 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure
Registered number: 00792276













HARDINGHAM FARMS LIMITED
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
HARDINGHAM FARMS LIMITED
REGISTERED NUMBER:00792276

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 6 
1,679,867
1,377,242

Investments
 7 
708,095
621,494

  
2,387,962
1,998,736

Current assets
  

Stocks
  
385,508
499,477

Debtors: amounts falling due within one year
 8 
1,074,252
730,337

Cash at bank and in hand
  
-
33,762

  
1,459,760
1,263,576

Creditors: amounts falling due within one year
 9 
(1,388,532)
(897,358)

Net current assets
  
 
 
71,228
 
 
366,218

Total assets less current liabilities
  
2,459,190
2,364,954

Creditors: amounts falling due after more than one year
 10 
(269,575)
(105,131)

Provisions for liabilities
  

Deferred tax
 13 
(201,014)
(182,412)

  
 
 
(201,014)
 
 
(182,412)

Net assets
  
1,988,601
2,077,411


Capital and reserves
  

Called up share capital 
  
6,000
6,000

Share premium account
  
1,800
1,800

Profit and loss account
  
1,980,801
2,069,611

  
1,988,601
2,077,411


Page 1

 
HARDINGHAM FARMS LIMITED
REGISTERED NUMBER:00792276
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




W R B Edwards
H P B Edwards
Director
Director


Date: 9 January 2025

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
HARDINGHAM FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Hardingham Farms Limited is a private company limited by shares registered in England and Wales. The company number and registered office address is given on the company information page of these financial statements.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.
The following principal accounting policies have been applied consistently throughout the year.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
HARDINGHAM FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

 

Depreciation is provided on the following basis:

Freehold property
-
Nil
Property improvements
-
15% reducing balance
Plant & machinery
-
15% reducing balance
Tractors
-
25% reducing balance
Combines
-
15% reducing balance

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each statement of financial position. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each statement of financial position. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value after making due allowance for obselete and slow-moving stocks.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the income statement. 

 
2.7

Debtors

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

Page 4

 
HARDINGHAM FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.8

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the statement of income and retained earnings in the same period as the related expenditure.

 
2.11

Finance costs

Finance costs are charged to the statement of income and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

 
2.12

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
HARDINGHAM FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the statement of financial position, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 3).


4.


Interest payable and similar expenses

2024
2023
£
£



Other loan interest payable
12,812
5,000

Finance leases and hire purchase contracts
7,572
3,651

20,384
8,651

Page 6

 
HARDINGHAM FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Intangible assets




BPS Entitlements

£



Cost


At 1 May 2023
14,800



At 30 April 2024

14,800



Amortisation


At 1 May 2023
14,800



At 30 April 2024

14,800



Net book value



At 30 April 2024
-



At 30 April 2023
-



Page 7

 
HARDINGHAM FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Tangible fixed assets





Land and buildings
Plant & machinery
Total

£
£
£



Cost or valuation


At 1 May 2023
1,747,307
2,133,753
3,881,060


Additions
4,980
702,720
707,700


Disposals
-
(660,480)
(660,480)



At 30 April 2024

1,752,287
2,175,993
3,928,280



Depreciation


At 1 May 2023
1,043,034
1,460,784
2,503,818


Charge for the year on owned assets
42,923
100,058
142,981


Charge for the year on financed assets
-
52,345
52,345


Disposals
-
(450,731)
(450,731)



At 30 April 2024

1,085,957
1,162,456
2,248,413



Net book value



At 30 April 2024
666,330
1,013,537
1,679,867



At 30 April 2023
704,273
672,969
1,377,242

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
519,437
347,956

519,437
347,956

Page 8

 
HARDINGHAM FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 May 2023
621,494


Additions
86,601



At 30 April 2024
708,095





8.


Debtors

2024
2023
£
£


Trade debtors
995,652
694,180

Other debtors
52,627
36,157

Tax recoverable
25,973
-

1,074,252
730,337



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
173,571
-

Bank loans
17,462
16,853

Trade creditors
546,065
348,731

Corporation tax
-
25,916

Other taxation and social security
3,353
2,495

Obligations under finance lease and hire purchase contracts
101,852
77,472

Other creditors
521,062
405,126

Accruals and deferred income
25,167
20,765

1,388,532
897,358


The company's overdraft is secured by a legal charge over 120.85 acres of land at Hardingham and Reymerston, Norwich, Norfolk.

Page 9

 
HARDINGHAM FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
81,428
99,159

Net obligations under finance leases and hire purchase contracts
188,147
5,972

269,575
105,131


Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.


11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
17,462
16,853


17,462
16,853

Amounts falling due 1-2 years

Bank loans
18,084
17,452


18,084
17,452

Amounts falling due 2-5 years

Bank loans
56,181
54,220


56,181
54,220

Amounts falling due after more than 5 years

Bank loans
7,163
27,487

7,163
27,487

98,890
116,012


Page 10

 
HARDINGHAM FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
101,852
77,472

Between 1-2 years
99,137
5,972

Between 2-5 years
89,010
-

289,999
83,444


13.


Deferred taxation




2024


£






At beginning of year
182,412


Charged to profit or loss
(18,602)



At end of year
201,014

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
264,370
182,412

Tax losses carried forward
(63,356)
-

201,014
182,412

Page 11

 
HARDINGHAM FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


14.


Commitments under operating leases

At 30 April 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Later than 5 years
126,500
126,500

126,500
126,500


Page 12