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REGISTERED NUMBER: 00572218 (England and Wales)















Financial Statements for the Year Ended 30 April 2024

for

Fridlington Farms Limited

Fridlington Farms Limited (Registered number: 00572218)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fridlington Farms Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mrs J Stark
Mrs J A Jackson
S R F Stark
Mrs J F Wilson



SECRETARY: Mrs J F Wilson



REGISTERED OFFICE: Sutton on Forest
York
North Yorkshire
YO61 1EE



REGISTERED NUMBER: 00572218 (England and Wales)



ACCOUNTANTS: Yorkshire Accountants Ripon
Eva Lett House
1 South Crescent
Ripon
North Yorkshire
HG4 1SN



BANKERS: Barclays



SOLICITORS: Harrowells
Market Place
Easingwold
York
North Yorkshire
YO61 3AB

Fridlington Farms Limited (Registered number: 00572218)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,483,096 3,928,570
Investment property 5 50,000 50,000
5,533,096 3,978,570

CURRENT ASSETS
Stocks 2,719,786 2,544,074
Debtors 6 1,400,925 515,704
Cash in hand - 389
4,120,711 3,060,167
CREDITORS
Amounts falling due within one year 7 5,810,621 1,891,760
NET CURRENT (LIABILITIES)/ASSETS (1,689,910 ) 1,168,407
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,843,186

5,146,977

CREDITORS
Amounts falling due after more than one
year

8

(99,750

)

(1,643,405

)

PROVISIONS FOR LIABILITIES (419,195 ) (324,926 )
NET ASSETS 3,324,241 3,178,646

CAPITAL AND RESERVES
Called up share capital 6,227 6,227
Capital redemption reserve 3,773 3,773
Other reserves 12,000 12,000
Retained earnings 3,302,241 3,156,646
SHAREHOLDERS' FUNDS 3,324,241 3,178,646

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Fridlington Farms Limited (Registered number: 00572218)

Balance Sheet - continued
30 April 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 15 January 2025 and were signed on its behalf by:





S R F Stark - Director


Fridlington Farms Limited (Registered number: 00572218)

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

1. STATUTORY INFORMATION

Fridlington Farms 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.

Turnover
Turnover represents sales of goods and services net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer or when the service is provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - not provided
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 10% on cost

Investment property
Investment properties are held for long term rental yields or for capital appreciation or both, and are not occupied by the company.

Investment properties are measured initially at cost. After initial recognition, investment properties are measured and carried at fair value.

The companies interest as disclosed represents only 1% of the investment property cost.

The directors therefore consider that variation between fair value and original cost is insignificant and the investment is therefore disclosed at original cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stock is professionally valued by a member of the Royal Institute of Chartered Surveyors in accordance with guidelines agreed with H M Revenue & Customs.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Fridlington Farms Limited (Registered number: 00572218)

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

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred is accounted for in respect of all material timing differences.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property Machinery
£    £    £   
COST
At 1 May 2023 1,039,999 4,248,697 4,568,715
Additions 1,617,900 - 254,269
Disposals (3,322 ) - (310,456 )
At 30 April 2024 2,654,577 4,248,697 4,512,528
DEPRECIATION
At 1 May 2023 - 3,084,188 3,838,767
Charge for year - 65,072 167,117
Eliminated on disposal - - (296,459 )
At 30 April 2024 - 3,149,260 3,709,425
NET BOOK VALUE
At 30 April 2024 2,654,577 1,099,437 803,103
At 30 April 2023 1,039,999 1,164,509 729,948

Harvest Motor Tractors
Equipment Vehicles & Loaders Totals
£    £    £    £   
COST
At 1 May 2023 1,254,594 163,620 1,287,107 12,562,732
Additions - - 198,250 2,070,419
Disposals - - (129,250 ) (443,028 )
At 30 April 2024 1,254,594 163,620 1,356,107 14,190,123
DEPRECIATION
At 1 May 2023 931,822 122,485 656,900 8,634,162
Charge for year 64,554 10,284 131,988 439,015
Eliminated on disposal - - (69,691 ) (366,150 )
At 30 April 2024 996,376 132,769 719,197 8,707,027
NET BOOK VALUE
At 30 April 2024 258,218 30,851 636,910 5,483,096
At 30 April 2023 322,772 41,135 630,207 3,928,570

Fridlington Farms Limited (Registered number: 00572218)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Harvest Motor Tractors
Machinery Equipment Vehicles & Loaders Totals
£    £    £    £    £   
COST
At 1 May 2023 192,350 380,000 66,589 412,000 1,050,939
Additions - - - 171,500 171,500
Transfer to ownership (162,500 ) - - (225,628 ) (388,128 )
At 30 April 2024 29,850 380,000 66,589 357,872 834,311
DEPRECIATION
At 1 May 2023 95,650 136,800 41,368 201,056 474,874
Charge for year 2,700 48,640 6,305 50,945 108,590
Transfer to ownership (79,300 ) - - (197,950 ) (277,250 )
At 30 April 2024 19,050 185,440 47,673 54,051 306,214
NET BOOK VALUE
At 30 April 2024 10,800 194,560 18,916 303,821 528,097
At 30 April 2023 96,700 243,200 25,221 210,944 576,065

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 50,000
NET BOOK VALUE
At 30 April 2024 50,000
At 30 April 2023 50,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 724,785 132,035
Other debtors 676,140 383,669
1,400,925 515,704

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,660,713 625,499
Hire purchase contracts 156,321 183,760
Trade creditors 914,470 888,095
Taxation and social security 15,481 28,990
Other creditors 63,636 165,416
5,810,621 1,891,760

Fridlington Farms Limited (Registered number: 00572218)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1,500,000
Hire purchase contracts 99,750 143,405
99,750 1,643,405

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 1,633,625 625,499
Bank loans 3,027,088 1,500,000
Hire purchase contracts 256,071 327,165
4,916,784 2,452,664

The bank hold a charge over the Freehold Deeds of various pieces of company land

10. RELATED PARTY DISCLOSURES

Transactions

During the year the company rented land & Buildings from the Fridlington Pension Scheme. Rent charged amounted to £40,942 (2023 - £40,942)

Pension premiums paid to the scheme amounted to £Nil (2023 - £30,000)

11. ULTIMATE CONTROLLING PARTY

The company is not controlled by one individual. However, the control of the business lies with the Stark family, namely SRF Stark, J Stark & JF Wilson, by virtue of their combined shareholding.