Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30falsefalse2023-05-01No description of principal activity88truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07906633 2023-05-01 2024-04-30 07906633 2022-05-01 2023-04-30 07906633 2024-04-30 07906633 2023-04-30 07906633 c:Director1 2023-05-01 2024-04-30 07906633 c:Director2 2023-05-01 2024-04-30 07906633 d:PlantMachinery 2023-05-01 2024-04-30 07906633 d:PlantMachinery 2024-04-30 07906633 d:PlantMachinery 2023-04-30 07906633 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07906633 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 07906633 d:MotorVehicles 2023-05-01 2024-04-30 07906633 d:MotorVehicles 2024-04-30 07906633 d:MotorVehicles 2023-04-30 07906633 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07906633 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 07906633 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07906633 d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 07906633 d:CurrentFinancialInstruments 2024-04-30 07906633 d:CurrentFinancialInstruments 2023-04-30 07906633 d:Non-currentFinancialInstruments 2024-04-30 07906633 d:Non-currentFinancialInstruments 2023-04-30 07906633 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 07906633 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 07906633 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 07906633 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 07906633 d:ShareCapital 2024-04-30 07906633 d:ShareCapital 2023-04-30 07906633 d:RetainedEarningsAccumulatedLosses 2024-04-30 07906633 d:RetainedEarningsAccumulatedLosses 2023-04-30 07906633 c:OrdinaryShareClass1 2023-05-01 2024-04-30 07906633 c:OrdinaryShareClass1 2024-04-30 07906633 c:OrdinaryShareClass1 2023-04-30 07906633 c:FRS102 2023-05-01 2024-04-30 07906633 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 07906633 c:FullAccounts 2023-05-01 2024-04-30 07906633 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07906633 d:HirePurchaseContracts d:WithinOneYear 2024-04-30 07906633 d:HirePurchaseContracts d:WithinOneYear 2023-04-30 07906633 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-04-30 07906633 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-04-30 07906633 d:HirePurchaseContracts d:MoreThanFiveYears 2024-04-30 07906633 d:HirePurchaseContracts d:MoreThanFiveYears 2023-04-30 07906633 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 07906633 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 07906633 d:TaxLossesCarry-forwardsDeferredTax 2024-04-30 07906633 d:TaxLossesCarry-forwardsDeferredTax 2023-04-30 07906633 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-04-30 07906633 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-04-30 07906633 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-04-30 07906633 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-30 07906633 d:LeasedAssetsHeldAsLessee 2024-04-30 07906633 d:LeasedAssetsHeldAsLessee 2023-04-30 07906633 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure
                                                                                                                  Registered number:   07906633















FLIXTON FARMS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
FLIXTON FARMS LIMITED
 

CONTENTS



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


 
FLIXTON FARMS LIMITED
REGISTERED NUMBER:07906633

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,334,675
1,032,084

  
1,334,675
1,032,084

Current assets
  

Stocks
  
23,019
17,220

Debtors: amounts falling due within one year
 5 
378,660
765,161

Cash at bank and in hand
  
11,652
19,373

  
413,331
801,754

Creditors: amounts falling due within one year
 6 
(187,587)
(286,618)

Net current assets
  
 
 
225,744
 
 
515,136

Total assets less current liabilities
  
1,560,419
1,547,220

Creditors: amounts falling due after more than one year
 7 
(560,241)
(343,892)

Provisions for liabilities
  

Deferred tax
 9 
(235,736)
(258,022)

  
 
 
(235,736)
 
 
(258,022)

Net assets
  
764,442
945,306


Capital and reserves
  

Called up share capital 
 10 
2
2

Profit and loss account
  
764,440
945,304

  
764,442
945,306

Page 1

 
FLIXTON FARMS LIMITED
REGISTERED NUMBER:07906633
    
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 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 on 30 January 2025.




................................................
M W Hadingham
................................................
B W R Hadingham
Director
Director

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

Page 2

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

1.


General information

Flixton Farms Limited is a private company limited by shares and incorporated in England and Wales, registration number 07906633. The registered office is Retreat Farm, Abbey Road, Flixton, Bungay, Suffolk, NR35 1NJ. 

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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. 
The significant accounting policies applied in preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
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:

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.

 
2.3

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.

Page 3

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

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives

Depreciation is provided on the following basis:

Plant & machinery
-
25% reducing balance
Motor vehicles and tractors
-
20% reducing balance

 
2.4

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.

 
2.5

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.

 
2.6

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 debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 debtors due with the operating cycle fall into this category of financial instruments.

 
2.7

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.

 
2.8

Finance costs

Finance costs are charged to profit or loss 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. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

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

2.Accounting policies (continued)

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.10

Borrowing costs

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

 
2.11

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.

 
2.12

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.


Page 5

 
FLIXTON FARMS LIMITED
 
 
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 8 (2023 - 8).


4.


Tangible fixed assets





Plant & machinery
Motor vehicles and tractors
Total

£
£
£



Cost or valuation


At 1 May 2023
723,812
1,870,471
2,594,283


Additions
44,500
691,905
736,405


Disposals
-
(292,430)
(292,430)



At 30 April 2024

768,312
2,269,946
3,038,258



Depreciation


At 1 May 2023
488,412
1,073,787
1,562,199


Charge for the year on owned assets
42,857
74,233
117,090


Charge for the year on financed assets
22,148
95,724
117,872


Disposals
-
(93,578)
(93,578)



At 30 April 2024

553,417
1,150,166
1,703,583



Net book value



At 30 April 2024
214,895
1,119,780
1,334,675



At 30 April 2023
235,400
796,684
1,032,084

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


2024
2023
£
£



Plant and machinery
66,445
88,594

Motor vehicles and tractors
822,848
620,471

889,293
709,065

Page 6

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

5.


Debtors

2024
2023
£
£


Trade debtors
34,283
428,581

Other debtors
315,451
296,045

Prepayments and accrued income
28,926
40,535

378,660
765,161



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
4,500

Trade creditors
12,962
49,210

Corporation tax
-
27,195

Other taxation and social security
3,325
46,854

Obligations under finance lease and hire purchase contracts
149,196
136,921

Accruals and deferred income
22,104
21,938

187,587
286,618


2024
2023
£
£

Other taxation and social security

PAYE/NI control
3,325
4,277

VAT control
-
42,577

3,325
46,854


Page 7

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

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
560,241
343,892

560,241
343,892


Bank loans and borrowings are secured on certain assets of the company by way of a debenture and guarantee from the directors.


8.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
149,196
136,921

Between 1-5 years
504,061
243,830

Over 5 years
56,180
100,062

709,437
480,813
Page 8

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

9.


Deferred taxation




2024


£






At beginning of year
(258,022)


Charged to profit or loss
22,286



At end of year
(235,736)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(333,670)
(258,022)

Tax losses carried forward
97,934
-

(235,736)
(258,022)


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2


Page 9