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Registration number: 07911679

Gladwins Farm Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Gladwins Farm Holdings Limited
(Registration number: 07911679)

Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

598,617

590,252

Investments

5

5,300,000

5,300,000

 

5,898,617

5,890,252

Current assets

 

Debtors

6

1,381,428

1,099,246

Cash at bank and in hand

 

7,231

260

 

1,388,659

1,099,506

Creditors: Amounts falling due within one year

7

(141,828)

(90,029)

Net current assets

 

1,246,831

1,009,477

Total assets less current liabilities

 

7,145,448

6,899,729

Creditors: Amounts falling due after more than one year

7

(1,632,350)

(1,408,614)

Net assets

 

5,513,098

5,491,115

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

5,273,912

-

Retained earnings

239,086

5,491,015

Shareholders' funds

 

5,513,098

5,491,115

 

Gladwins Farm Holdings Limited
(Registration number: 07911679)

Balance Sheet as at 30 April 2024

For the financial year ending 30 April 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 January 2025 and signed on its behalf by:
 

.........................................
Mrs S Bradshaw
Director

 

Gladwins Farm Holdings Limited
(Registration number: 07911679)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Gladwins Farm
Harpers Hill, Nayland
Colchester
Suffolk
CO6 4NU
England

These financial statements were authorised for issue by the Board on 28 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Gladwins Farm Holdings Limited
(Registration number: 07911679)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold buildings

Over 50 years

Plant and machinery

Over 20 years

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Gladwins Farm Holdings Limited
(Registration number: 07911679)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Gladwins Farm Holdings Limited
(Registration number: 07911679)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

547,990

59,881

607,871

Additions

-

14,167

14,167

At 30 April 2024

547,990

74,048

622,038

Depreciation

At 1 May 2023

2,807

14,812

17,619

Charge for the year

2,807

2,995

5,802

At 30 April 2024

5,614

17,807

23,421

Carrying amount

At 30 April 2024

542,376

56,241

598,617

At 30 April 2023

545,183

45,069

590,252

 

Gladwins Farm Holdings Limited
(Registration number: 07911679)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Investments

2024
£

2023
£

Investments in subsidiaries

5,300,000

5,300,000

Subsidiaries

£

Cost or valuation

At 1 May 2023

5,300,000

At 30 April 2024

5,300,000

Carrying amount

At 30 April 2024

5,300,000

At 30 April 2023

5,300,000

Revaluation

Investment in subsidiaries was revalued at £5,300,000 on 1 April 2021.
The directors revalued the company's interest in Push Investment Group Limited.
Historical cost of investment is £26,088.

6

Debtors

Current

2024
£

2023
£

Trade debtors

 

4,770

-

Amounts owed by related parties

1,089,370

945,859

Other debtors

 

287,288

153,387

   

1,381,428

1,099,246

 

Gladwins Farm Holdings Limited
(Registration number: 07911679)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

-

7,108

Taxation and social security

 

108,828

82,921

Accruals and deferred income

 

3,000

-

Other creditors

 

30,000

-

 

141,828

90,029

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

1,632,350

1,408,614

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on revaluation of other assets

5,273,912

5,273,912

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

-

7,108