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REGISTERED NUMBER: 01099455 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 April 2024

for

HUGH PULHAM FARMS LIMITED

HUGH PULHAM FARMS LIMITED (Registered number: 01099455)






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


HUGH PULHAM FARMS LIMITED

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr A C Pulham
Mrs L M Pulham





SECRETARY: Mrs L M Pulham





REGISTERED OFFICE: Brockford Hall
Brockford
Stowmarket
Suffolk
IP14 5PG





REGISTERED NUMBER: 01099455 (England and Wales)





ACCOUNTANTS: Turner & Ellerby
Chartered Certified Accountants
5 Church Street
Framlingham
Woodbridge
Suffolk
IP13 9BQ

HUGH PULHAM FARMS LIMITED (Registered number: 01099455)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,288,959 2,289,777
Investments 5 22 22
2,288,981 2,289,799

CURRENT ASSETS
Stocks 329,153 262,966
Debtors 6 120,547 185,579
449,700 448,545
CREDITORS
Amounts falling due within one year 7 364,935 369,248
NET CURRENT ASSETS 84,765 79,297
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,373,746

2,369,096

CREDITORS
Amounts falling due after more than one
year

8

(853,133

)

(872,760

)

PROVISIONS FOR LIABILITIES 10 (143,185 ) (108,976 )
NET ASSETS 1,377,428 1,387,360

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 1,372,428 1,382,360
SHAREHOLDERS' FUNDS 1,377,428 1,387,360

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.

HUGH PULHAM FARMS LIMITED (Registered number: 01099455)

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 26 February 2025 and were signed on its behalf by:





Mr A C Pulham - Director


HUGH PULHAM FARMS LIMITED (Registered number: 01099455)

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

1. STATUTORY INFORMATION

HUGH PULHAM 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Freehold property - not provided
Plant and machinery - 15% on reducing balance
Computer equipment - Straight line over 4 years

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

The valuation has been prepared for stocktaking purposes and for incorporation in the accounts in accordance with the Inland Revenue Economic Notes BEN19.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HUGH PULHAM FARMS LIMITED (Registered number: 01099455)

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

2. ACCOUNTING POLICIES - continued

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 May 2023 1,721,403 1,422,767 2,196 3,146,366
Additions - 102,099 - 102,099
Disposals - (76,000 ) - (76,000 )
At 30 April 2024 1,721,403 1,448,866 2,196 3,172,465
DEPRECIATION
At 1 May 2023 5,186 849,207 2,196 856,589
Charge for year - 99,146 - 99,146
Eliminated on disposal - (72,229 ) - (72,229 )
At 30 April 2024 5,186 876,124 2,196 883,506
NET BOOK VALUE
At 30 April 2024 1,716,217 572,742 - 2,288,959
At 30 April 2023 1,716,217 573,560 - 2,289,777

HUGH PULHAM FARMS LIMITED (Registered number: 01099455)

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
machinery
£   
COST
At 1 May 2023 436,817
Additions 98,500
Transfer to ownership (32,200 )
At 30 April 2024 503,117
DEPRECIATION
At 1 May 2023 134,758
Charge for year 54,265
Transfer to ownership (1,610 )
At 30 April 2024 187,413
NET BOOK VALUE
At 30 April 2024 315,704
At 30 April 2023 302,059

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2023
and 30 April 2024 22
NET BOOK VALUE
At 30 April 2024 22
At 30 April 2023 22

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 36,140 100,992
Other debtors 13,852 13,852
Directors' current accounts 62,800 59,598
Prepayments 7,755 11,137
120,547 185,579

HUGH PULHAM FARMS LIMITED (Registered number: 01099455)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 200,244 180,326
Hire purchase contracts 59,463 51,456
Trade creditors 66,406 86,366
Tax 26,388 35,181
Social security and other taxes 1,302 1,756
VAT 5,115 1,268
Accrued expenses 6,017 12,895
364,935 369,248

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 113,467 102,450
Bank loans - 2-5 years 316,908 307,350
Bank loans - over 5 years 288,910 361,450
Hire purchase contracts 133,848 101,510
853,133 872,760

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - over 5 years 288,910 361,450
Hire purchase - 15,103
288,910 376,553

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 86,777 77,876
Bank loans 832,752 873,700
Hire purchase contracts 193,311 152,966
1,112,840 1,104,542

Bank borrowings are secured by a charge over the company's property.

Obligations under hire purchase agreements are secured on the assets to which they relate.


HUGH PULHAM FARMS LIMITED (Registered number: 01099455)

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

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 143,185 108,976

Deferred
tax
£   
Balance at 1 May 2023 108,976
Movement in year 34,209
Balance at 30 April 2024 143,185

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Mr A C Pulham and Mrs L M Pulham
Balance outstanding at start of year 59,598 63,340
Amounts advanced 29,147 22,703
Amounts repaid (25,945 ) (26,445 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 62,800 59,598