6 false false false false false false false false false false true false false false false false false No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 40 40 40 xbrli:pure xbrli:shares iso4217:GBP 03214969 2022-10-01 2024-03-31 03214969 2024-03-31 03214969 2022-09-30 03214969 2021-10-01 2022-09-30 03214969 2022-09-30 03214969 2021-09-30 03214969 core:LandBuildings core:ShortLeaseholdAssets 2022-10-01 2024-03-31 03214969 core:PlantMachinery 2022-10-01 2024-03-31 03214969 core:MotorVehicles 2022-10-01 2024-03-31 03214969 bus:Director5 2022-10-01 2024-03-31 03214969 core:LandBuildings 2022-09-30 03214969 core:PlantMachinery 2022-09-30 03214969 core:MotorVehicles 2022-09-30 03214969 core:LandBuildings 2024-03-31 03214969 core:PlantMachinery 2024-03-31 03214969 core:MotorVehicles 2024-03-31 03214969 core:LandBuildings 2022-10-01 2024-03-31 03214969 core:WithinOneYear 2024-03-31 03214969 core:WithinOneYear 2022-09-30 03214969 core:AfterOneYear 2024-03-31 03214969 core:AfterOneYear 2022-09-30 03214969 core:ShareCapital 2024-03-31 03214969 core:ShareCapital 2022-09-30 03214969 core:RetainedEarningsAccumulatedLosses 2024-03-31 03214969 core:RetainedEarningsAccumulatedLosses 2022-09-30 03214969 core:BetweenOneFiveYears 2024-03-31 03214969 core:BetweenOneFiveYears 2022-09-30 03214969 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 03214969 core:Non-currentFinancialInstruments 2024-03-31 03214969 core:Non-currentFinancialInstruments 2022-09-30 03214969 core:LandBuildings 2022-09-30 03214969 core:PlantMachinery 2022-09-30 03214969 core:MotorVehicles 2022-09-30 03214969 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2024-03-31 03214969 core:LeasedAssetsHeldAsLessee 2024-03-31 03214969 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2022-09-30 03214969 core:LeasedAssetsHeldAsLessee 2022-09-30 03214969 bus:SmallEntities 2022-10-01 2024-03-31 03214969 bus:AuditExemptWithAccountantsReport 2022-10-01 2024-03-31 03214969 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2024-03-31 03214969 bus:PrivateLimitedCompanyLtd 2022-10-01 2024-03-31 03214969 bus:FullAccounts 2022-10-01 2024-03-31 03214969 core:OtherPropertyPlantEquipment 2022-10-01 2024-03-31 03214969 core:OtherPropertyPlantEquipment 2022-09-30 03214969 core:OtherPropertyPlantEquipment 2024-03-31 03214969 core:VehiclesPlantMachinery core:LeasedAssetsHeldAsLessee 2024-03-31 03214969 core:VehiclesPlantMachinery core:LeasedAssetsHeldAsLessee 2022-09-30
COMPANY REGISTRATION NUMBER: 03214969
Harrington Hall Farms Limited
Filleted Unaudited Financial Statements
For the period ended
31 March 2024
Harrington Hall Farms Limited
Statement of Financial Position
31 March 2024
31 Mar 24
30 Sep 22
Note
£
£
£
Fixed assets
Tangible assets
5
729,505
856,754
Investments
6
40
40
----------
----------
729,545
856,794
Current assets
Stocks
28,681
25,480
Debtors
7
843,875
752,029
Cash at bank and in hand
38,811
121,616
----------
----------
911,367
899,125
Creditors: amounts falling due within one year
8
540,388
676,051
----------
----------
Net current assets
370,979
223,074
-------------
-------------
Total assets less current liabilities
1,100,524
1,079,868
Creditors: amounts falling due after more than one year
9
86,049
257,748
Provisions
Taxation including deferred tax
106,893
-------------
-------------
Net assets
907,582
822,120
-------------
-------------
Harrington Hall Farms Limited
Statement of Financial Position (continued)
31 March 2024
31 Mar 24
30 Sep 22
Note
£
£
£
Capital and reserves
Called up share capital
250,000
250,000
Profit and loss account
657,582
572,120
----------
----------
Shareholders funds
907,582
822,120
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 17 January 2025 , and are signed on behalf of the board by:
W J E Price
Director
Company registration number: 03214969
Harrington Hall Farms Limited
Notes to the Financial Statements
Period from 1 October 2022 to 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Harrington Hall, Spilsby, Lincolnshire, PE23 4NH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Tractors
-
20% reducing balance
Plant and machinery
-
15% reducing balance
Motor Vehicles
-
20% reducing balance
Equipment
-
15% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 6 (2022: 7 ).
5. Tangible assets
Tractors
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 October 2022
853,587
726,556
78,637
12,739
1,671,519
Additions
119,900
440
31,495
151,835
Disposals
( 93,327)
( 93,327)
----------
----------
----------
---------
-------------
At 31 March 2024
880,160
726,996
110,132
12,739
1,730,027
----------
----------
----------
---------
-------------
Depreciation
At 1 October 2022
354,853
401,095
47,774
11,043
814,765
Charge for the period
158,312
75,106
8,590
341
242,349
Disposals
( 56,592)
( 56,592)
----------
----------
----------
---------
-------------
At 31 March 2024
456,573
476,201
56,364
11,384
1,000,522
----------
----------
----------
---------
-------------
Carrying amount
At 31 March 2024
423,587
250,795
53,768
1,355
729,505
----------
----------
----------
---------
-------------
At 30 September 2022
498,734
325,461
30,863
1,696
856,754
----------
----------
----------
---------
-------------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Plant and machinery
Tractors
Total
£
£
£
At 31 March 2024
477,728
35,782
513,510
----------
---------
----------
At 30 September 2022
545,041
35,782
580,823
----------
---------
----------
6. Investments
Lincs Machinery Ring
£
Cost
At 1 October 2022 and 31 March 2024
40
----
Impairment
At 1 October 2022 and 31 March 2024
----
Carrying amount
At 31 March 2024
40
----
At 30 September 2022
40
----
7. Debtors
31 Mar 24
30 Sep 22
£
£
Trade debtors
308,868
423,484
Other debtors
535,007
328,545
----------
----------
843,875
752,029
----------
----------
8. Creditors: amounts falling due within one year
31 Mar 24
30 Sep 22
£
£
Bank loans and overdrafts
7,837
10,250
Trade creditors
45,068
96,008
Social security and other taxes
48,043
58,682
Harrington Estates Driby loan
72,000
72,000
Other creditors
367,440
439,111
----------
----------
540,388
676,051
----------
----------
9. Creditors: amounts falling due after more than one year
31 Mar 24
30 Sep 22
£
£
Other creditors
86,049
257,748
---------
----------
10. Finance leases and hire purchase contracts
The total future minimum lease payments under finance leases and hire purchase contracts are as follows:
31 Mar 24
30 Sep 22
£
£
Not later than 1 year
129,743
190,852
Later than 1 year and not later than 5 years
71,950
231,941
----------
----------
201,693
422,793
----------
----------
11. Directors' advances, credits and guarantees
The company owed the director W J E Price £234,967 at the year end (2022: £236,259). The amount is repayable on demand and no interest is paid.