Stourton Estates Limited 08412526 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is farming Digita Accounts Production Advanced 6.30.9574.0 true true 08412526 2023-06-01 2024-05-31 08412526 2024-05-31 08412526 bus:OrdinaryShareClass1 2024-05-31 08412526 core:RetainedEarningsAccumulatedLosses 2024-05-31 08412526 core:ShareCapital 2024-05-31 08412526 core:FinanceLeases core:CurrentFinancialInstruments 2024-05-31 08412526 core:FinanceLeases core:Non-currentFinancialInstruments 2024-05-31 08412526 core:CurrentFinancialInstruments 2024-05-31 08412526 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 08412526 core:Non-currentFinancialInstruments 2024-05-31 08412526 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 08412526 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-05-31 08412526 core:Goodwill 2024-05-31 08412526 core:FurnitureFittingsToolsEquipment 2024-05-31 08412526 core:LandBuildings 2024-05-31 08412526 core:MotorVehicles 2024-05-31 08412526 core:ParentEntities 2024-05-31 08412526 bus:SmallEntities 2023-06-01 2024-05-31 08412526 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 08412526 bus:FilletedAccounts 2023-06-01 2024-05-31 08412526 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 08412526 bus:RegisteredOffice 2023-06-01 2024-05-31 08412526 bus:Director1 2023-06-01 2024-05-31 08412526 bus:Director2 2023-06-01 2024-05-31 08412526 bus:Director3 2023-06-01 2024-05-31 08412526 bus:Director4 2023-06-01 2024-05-31 08412526 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 08412526 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08412526 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-01 2024-05-31 08412526 core:IntangibleAssetsOtherThanGoodwill 2023-06-01 2024-05-31 08412526 core:FurnitureFittings 2023-06-01 2024-05-31 08412526 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 08412526 core:LandBuildings 2023-06-01 2024-05-31 08412526 core:MotorVehicles 2023-06-01 2024-05-31 08412526 core:PlantMachinery 2023-06-01 2024-05-31 08412526 core:ParentEntities 2023-06-01 2024-05-31 08412526 1 2023-06-01 2024-05-31 08412526 countries:EnglandWales 2023-06-01 2024-05-31 08412526 2023-05-31 08412526 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-31 08412526 core:Goodwill 2023-05-31 08412526 core:FurnitureFittingsToolsEquipment 2023-05-31 08412526 core:LandBuildings 2023-05-31 08412526 core:MotorVehicles 2023-05-31 08412526 core:ParentEntities 2023-05-31 08412526 2022-06-01 2023-05-31 08412526 2023-05-31 08412526 bus:OrdinaryShareClass1 2023-05-31 08412526 core:RetainedEarningsAccumulatedLosses 2023-05-31 08412526 core:ShareCapital 2023-05-31 08412526 core:FinanceLeases core:CurrentFinancialInstruments 2023-05-31 08412526 core:FinanceLeases core:Non-currentFinancialInstruments 2023-05-31 08412526 core:CurrentFinancialInstruments 2023-05-31 08412526 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 08412526 core:Non-currentFinancialInstruments 2023-05-31 08412526 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 08412526 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-31 08412526 core:Goodwill 2023-05-31 08412526 core:FurnitureFittingsToolsEquipment 2023-05-31 08412526 core:LandBuildings 2023-05-31 08412526 core:MotorVehicles 2023-05-31 08412526 core:ParentEntities 2023-05-31 08412526 2022-05-31 08412526 core:ParentEntities 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08412526

Stourton Estates Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Stourton Estates Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Stourton Estates Limited

Company Information

Directors

R F Strawson

P C Strawson

A F Strawson

S C Elton

Registered office

Top Yard Farm
Baumber
Horncastle
Lincolnshire
LN9 5PB

 

Stourton Estates Limited

(Registration number: 08412526)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

2

2

Tangible assets

5

4,094,252

3,245,903

 

4,094,254

3,245,905

Current assets

 

Stocks

6

634,769

751,711

Debtors

7

208,151

309,445

Cash at bank and in hand

 

326,944

1,136,309

 

1,169,864

2,197,465

Creditors: Amounts falling due within one year

8

(3,391,047)

(3,365,589)

Net current liabilities

 

(2,221,183)

(1,168,124)

Total assets less current liabilities

 

1,873,071

2,077,781

Creditors: Amounts falling due after more than one year

8

(71,266)

(215,048)

Provisions for liabilities

(229,277)

(229,906)

Net assets

 

1,572,528

1,632,827

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

1,572,527

1,632,826

Shareholders' funds

 

1,572,528

1,632,827

 

Stourton Estates Limited

(Registration number: 08412526)
Balance Sheet as at 31 May 2024

For the financial year ending 31 May 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 13 February 2025 and signed on its behalf by:
 

.........................................
A F Strawson
Director

 

Stourton Estates Limited

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

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 08412526.

The address of its registered office is:
Top Yard Farm
Baumber
Horncastle
Lincolnshire
LN9 5PB
United Kingdom

These financial statements cover the individual entity Stourton Estates Limited.

These financial statements were authorised for issue by the Board on 13 February 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.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

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.

Government grants

Government grants which become receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, are recognised as income in the period in which they become receivable.

 

Stourton Estates Limited

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

Tax

The tax expense for the period comprises current and deferred 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.

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.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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 and buildings freehold

Buildings 2-4% straight line basis on original cost to company

Plant and machinery

15% reducing balance basis

Fixtures and fittings

15% reducing balance basis & 33.33% straight line basis

Motor vehicles

25% reducing balance basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Entitlements

3 years straight line

Website costs

3 years straight line

Stocks

The basis of valuation is as follows:

Raw materials and consumables are stated at the lower of cost or net realisable value.

Tenantright is calculated by a combination of actual costs incurred and standard costs.

Produce on hand is valued at cost of production.

Livestock is valued at the lower of cost and net realisable value.

The basis of valuation is consistent with previous years.

 

Stourton Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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.

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 Directors) during the year, was 8 (2023 - 7).

 

Stourton Estates Limited

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

4

Intangible assets

Entitlements
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 June 2023

834

8,929

9,763

At 31 May 2024

834

8,929

9,763

Amortisation

At 1 June 2023

832

8,929

9,761

At 31 May 2024

832

8,929

9,761

Carrying amount

At 31 May 2024

2

-

2

At 31 May 2023

2

-

2

5

Tangible assets

Land and buildings
£

Plant, machinery and equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

2,585,526

1,699,672

90,474

4,375,672

Additions

872,291

243,093

-

1,115,384

Disposals

-

(183,730)

-

(183,730)

At 31 May 2024

3,457,817

1,759,035

90,474

5,307,326

Depreciation

At 1 June 2023

136,918

940,382

52,469

1,129,769

Charge for the year

13,265

153,475

9,250

175,990

Eliminated on disposal

-

(92,685)

-

(92,685)

At 31 May 2024

150,183

1,001,172

61,719

1,213,074

Carrying amount

At 31 May 2024

3,307,634

757,863

28,755

4,094,252

At 31 May 2023

2,448,608

759,290

38,005

3,245,903

 

Stourton Estates Limited

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

6

Stocks

2024
£

2023
£

Raw materials and consumables

69,955

62,190

Work in progress

353,303

566,513

Finished goods and goods for resale

211,511

123,008

634,769

751,711

7

Debtors

2024
£

2023
£

Trade debtors

153,162

199,384

Prepayments

13,691

6,321

Other debtors

41,298

103,740

208,151

309,445

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

133,824

34,258

Finance lease liabilities

 

68,515

86,362

Trade creditors

 

102,132

88,828

Amounts owed to group undertakings and undertakings in which the company has a participating interest

11

2,540,930

2,540,930

Taxation and social security

 

15,743

110,514

Other creditors

 

430,599

419,810

Accruals and deferred income

 

99,304

84,887

 

3,391,047

3,365,589

Due after one year

 

Bank loans and other creditors

10

71,266

215,048

Creditors: amounts falling due after more than one year

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       
 

Stourton Estates Limited

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

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

-

111,137

Finance lease liabilities

71,266

103,911

71,266

215,048

Finance lease liabilities totalling £71,266 (2023: £103,911) are secured upon the assets acquired.

Bank borrowings of £76,881 (2023: £111,137) are secured on the assets of the company.

2024
£

2023
£

Current loans and borrowings

Bank borrowings

133,824

34,258

Finance lease liabilities

68,515

86,362

Other borrowings

327,797

313,794

530,136

434,414

Finance lease liabilities of £68,515 (2023: £86,362) are secured against the assets acquired.

Bank borrowings of £34,257 (2023: £34,258) are secured on the assets of the company.

 

Stourton Estates Limited

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

11

Related party transactions

Summary of transactions with parent

Stourton Properties Limited
 Dividends paid amounted to £77,500 (2023: £82,000)
 

Loans from related parties

2024

Parent
£

Total
£

At start of period

2,540,930

2,540,930

At end of period

2,540,930

2,540,930

2023

Parent
£

Total
£

At start of period

2,540,930

2,540,930

At end of period

2,540,930

2,540,930

12

Parent and ultimate parent undertaking

The Company's immediate parent is Stourton Properties Limited, incorporated in England and Wales.