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Registration number: 07221623

Hollings Hill Farm Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Hollings Hill Farm Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Hollings Hill Farm Limited

Company Information

Director

Austin Knowles

Registered office

Hollings Hill Farm
Bosbury Road
Cradley
Malvern
Worcs
WR13 5LY

Accountants

C J Lewin Limited
15 Jasmine Close
Tiverton
Devon
EX16 6UB

 

Hollings Hill Farm Limited

(Registration number: 07221623)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

fixed assets

 

tangible assets

4

325,745

670,195

Current assets

 

stocks

5

503,225

459,143

Debtors

6

786,121

786,593

Cash at bank and in hand

 

298,086

80,500

 

1,587,432

1,326,236

Creditors: Amounts falling due within one year

7

1,021,967

861,547

Net current assets

 

565,465

464,689

Total assets less current liabilities

 

891,210

1,134,884

Creditors: Amounts falling due after more than one year

7

508,548

724,632

Net assets

 

382,662

410,252

capital and reserves

 

Called up share capital

8

1

1

Profit and loss account

382,661

410,251

Shareholders' funds

 

382,662

410,252

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 January 2025
 

.........................................
Austin Knowles
Director

 

Hollings Hill Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
Hollings Hill Farm
Bosbury Road
Cradley
Malvern
Worcs
WR13 5LY

The principal place of business is:
Hollings Hill Farm
Bosbury Road
Cradley
Malvern
Worcs
WR13 5LY

These financial statements were authorised for issue by the director on 31 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

Revenue is measured at fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Revenue is shown net of value added tax, returns, rebates and similar allowances.

Revenue from the sale of goods and services is recognised when the goods and services are provided and legal title has passed.

Government grants

Government grants are treated as income in the year in which they relate and the compliance has been met.

 

Hollings Hill Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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

Land & Buildings

Nil

Plant & Machinery

20% Reducing Balance

Fixture & Fittings

20% Reducing Balance

Motor Vehicles

25% Reducing Balance

Office Equipment

25% Reducing Balance

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.

Stocks

Biological assets are measured on initial recognition and at each reporting date at fair value less cost of sales. Changes in fair value may be due to both physical changes and price changes in the market and a reconciliation of gains and losses are calculated between the beginning and end of the accounting period as set out under IAS 41 para 50.

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 and HP Agreements 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.

 

Hollings Hill Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2023 - 11).

 

Hollings Hill Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

386,914

8,641

1,968

566,947

964,470

Additions

-

-

-

9,659

9,659

Disposals

(305,536)

-

-

-

(305,536)

At 31 March 2024

81,378

8,641

1,968

576,606

668,593

Depreciation

At 1 April 2023

70,407

2,030

1,303

220,535

294,275

Charge for the year

15,826

1,429

167

66,984

84,406

Eliminated on disposal

(35,833)

-

-

-

(35,833)

At 31 March 2024

50,400

3,459

1,470

287,519

342,848

Carrying amount

At 31 March 2024

30,978

5,182

498

289,087

325,745

At 31 March 2023

316,507

6,611

665

346,412

670,195

Included within the net book value of land and buildings above is £30,978 (2023 - £316,507) in respect of freehold land and buildings.
 

 

Hollings Hill Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

stocks

2024
£

2023
£

Stock

249,560

202,053

Herd

257,090

263,786

Heard- Movement in Year

(3,425)

(6,696)

503,225

459,143

6

debtors

Current

2024
£

2023
£

Trade debtors

191,385

227,400

Prepayments

4,738

-

Other debtors

589,998

559,193

 

786,121

786,593

 

Hollings Hill Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

315,480

256,642

Trade creditors

 

351,374

468,363

Taxation and social security

 

196,726

168,281

Accruals and deferred income

 

115,293

47,395

Other creditors

 

43,094

(79,134)

 

1,021,967

861,547

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

508,548

724,632

Included in the loans and borrowings are the following amounts due after more than five years:

Bank loans and overdrafts after five years

HSBC loans after five years £3,750.00 payable in monthly instalments at HSBC bank rate of 4.5% over base.

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

ordinary share of £1 each

1

1

1

1

         

9

Related party transactions

 

Hollings Hill Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

15,000

15,000