Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30falsefalse2023-05-01Farming00falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12560874 2023-05-01 2024-04-30 12560874 2022-05-01 2023-04-30 12560874 2024-04-30 12560874 2023-04-30 12560874 2022-05-01 12560874 c:Director1 2023-05-01 2024-04-30 12560874 c:RegisteredOffice 2023-05-01 2024-04-30 12560874 d:PlantMachinery 2023-05-01 2024-04-30 12560874 d:PlantMachinery 2024-04-30 12560874 d:PlantMachinery 2023-04-30 12560874 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 12560874 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 12560874 d:OfficeEquipment 2023-05-01 2024-04-30 12560874 d:OfficeEquipment 2024-04-30 12560874 d:OfficeEquipment 2023-04-30 12560874 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 12560874 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 12560874 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 12560874 d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 12560874 d:CurrentFinancialInstruments 2024-04-30 12560874 d:CurrentFinancialInstruments 2023-04-30 12560874 d:Non-currentFinancialInstruments 2024-04-30 12560874 d:Non-currentFinancialInstruments 2023-04-30 12560874 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 12560874 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 12560874 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 12560874 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 12560874 d:ShareCapital 2024-04-30 12560874 d:ShareCapital 2023-04-30 12560874 d:RetainedEarningsAccumulatedLosses 2024-04-30 12560874 d:RetainedEarningsAccumulatedLosses 2023-04-30 12560874 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 12560874 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 12560874 c:FRS102 2023-05-01 2024-04-30 12560874 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 12560874 c:FullAccounts 2023-05-01 2024-04-30 12560874 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 12560874 d:HirePurchaseContracts d:WithinOneYear 2024-04-30 12560874 d:HirePurchaseContracts d:WithinOneYear 2023-04-30 12560874 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-04-30 12560874 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-04-30 12560874 6 2023-05-01 2024-04-30 12560874 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 12560874










HOMESTEAD FARM ERPINGHAM LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
HOMESTEAD FARM ERPINGHAM LTD
 
 
COMPANY INFORMATION


Director
Mr R J Alston 




Registered number
12560874



Registered office
Orchard Cottage
Alby

Norfolk

NR11 7HG




Accountants
Larking Gowen LLP
Chartered Accountants

80 Grove Lane

Holt

Norfolk

NR25 6ED





 
HOMESTEAD FARM ERPINGHAM LTD
 

CONTENTS



Page
Statement of financial position
 
1 - 2
Notes to the financial statements
 
3 - 9


 
HOMESTEAD FARM ERPINGHAM LTD
REGISTERED NUMBER: 12560874

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
63,265
46,795

Investments
 5 
50
50

  
63,315
46,845

Current assets
  

Stocks
  
82,437
116,508

Debtors: amounts falling due within one year
 6 
4,574
4,387

Bank and cash balances
  
44,502
3,016

  
131,513
123,911

Creditors: amounts falling due within one year
 7 
(40,799)
(71,757)

Net current assets
  
 
 
90,714
 
 
52,154

Total assets less current liabilities
  
154,029
98,999

Creditors: amounts falling due after more than one year
 8 
(43,927)
(30,000)

Provisions for liabilities
  

Deferred tax
 10 
(9,455)
(5,763)

  
 
 
(9,455)
 
 
(5,763)

Net assets
  
100,647
63,236


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
100,547
63,136

  
100,647
63,236


Page 1

 
HOMESTEAD FARM ERPINGHAM LTD
REGISTERED NUMBER: 12560874
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The director considers 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 director acknowledges his 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 income statement 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: 




................................................
Mr R J Alston
Director

Date: 31 January 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
HOMESTEAD FARM ERPINGHAM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Homestead Farm Erpingham Ltd is a private limited company limited by shares and incorporated in England, registration number 12560874. The registered office is Orchard Cottage, Alby, Norwich, England, NR11 7HG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

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 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 revenue is recognised:

Sale of goods

Revenue 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 revenue 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

Revenue 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 revenue 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

 
HOMESTEAD FARM ERPINGHAM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

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 reporting date, 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.


 
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 charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
HOMESTEAD FARM ERPINGHAM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
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 reporting date. Gains and losses on remeasurement are recognised in the Income statement 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 reporting date. 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, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase. Work in progress and finished goods include labour and attributable overheads.
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 profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
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

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

 
HOMESTEAD FARM ERPINGHAM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


Employees




The average monthly number of employees, including directors, during the year was 0 (2023 - 0).


4.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 May 2023
55,517
335
55,852


Additions
26,249
491
26,740



At 30 April 2024

81,766
826
82,592



Depreciation


At 1 May 2023
8,934
123
9,057


Charge for the year on owned assets
7,368
105
7,473


Charge for the year on financed assets
2,797
-
2,797



At 30 April 2024

19,099
228
19,327



Net book value



At 30 April 2024
62,667
598
63,265



At 30 April 2023
46,583
212
46,795


5.


Fixed asset investments





Anglia farmers shares

£



Cost or valuation


At 1 May 2023
50



At 30 April 2024
50




Page 6

 
HOMESTEAD FARM ERPINGHAM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Debtors

2024
2023
£
£


Trade debtors
-
217

Other debtors
1,908
2,167

Prepayments and accrued income
2,666
2,003

4,574
4,387



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
453
3,017

Corporation tax
5,083
4,198

Obligations under finance lease and hire purchase contracts
6,332
-

Other creditors
25,701
62,412

Accruals and deferred income
3,230
2,130

40,799
71,757



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
13,927
-

Other creditors
30,000
30,000

43,927
30,000


Page 7

 
HOMESTEAD FARM ERPINGHAM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
6,332
-

Between 1-5 years
13,927
-

20,259
-

Page 8

 
HOMESTEAD FARM ERPINGHAM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Deferred taxation




2024
2023


£

£






At beginning of year
(5,763)
(512)


Charged to profit or loss
(3,692)
(5,251)



At end of year
(9,455)
(5,763)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(9,455)
(5,763)

(9,455)
(5,763)


11.


Related party transactions

The company farms land owned by the director for which no rent is charged. 
At the year end the company owed the director £25,702 (2023 - £64,012) and had a long-term loan from family of £30,000 (2023 - £30,000).


Page 9