Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31trueanimal boarding and carefalse2023-06-01false3031The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02927420 2023-06-01 2024-05-31 02927420 2022-06-01 2023-05-31 02927420 2024-05-31 02927420 2023-05-31 02927420 c:Director1 2023-06-01 2024-05-31 02927420 d:Buildings 2023-06-01 2024-05-31 02927420 d:Buildings 2024-05-31 02927420 d:Buildings 2023-05-31 02927420 d:Buildings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 02927420 d:PlantMachinery 2023-06-01 2024-05-31 02927420 d:PlantMachinery 2024-05-31 02927420 d:PlantMachinery 2023-05-31 02927420 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 02927420 d:MotorVehicles 2023-06-01 2024-05-31 02927420 d:MotorVehicles 2024-05-31 02927420 d:MotorVehicles 2023-05-31 02927420 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 02927420 d:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 02927420 d:OtherPropertyPlantEquipment 2024-05-31 02927420 d:OtherPropertyPlantEquipment 2023-05-31 02927420 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 02927420 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 02927420 d:FreeholdInvestmentProperty 2023-06-01 2024-05-31 02927420 d:FreeholdInvestmentProperty 2024-05-31 02927420 d:FreeholdInvestmentProperty 2 2023-06-01 2024-05-31 02927420 d:FreeholdInvestmentProperty 3 2023-06-01 2024-05-31 02927420 d:CurrentFinancialInstruments 2024-05-31 02927420 d:CurrentFinancialInstruments 2023-05-31 02927420 d:Non-currentFinancialInstruments 2024-05-31 02927420 d:Non-currentFinancialInstruments 2023-05-31 02927420 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 02927420 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 02927420 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 02927420 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 02927420 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-05-31 02927420 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 02927420 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-05-31 02927420 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 02927420 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-05-31 02927420 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-05-31 02927420 d:ShareCapital 2024-05-31 02927420 d:ShareCapital 2023-05-31 02927420 d:SharePremium 2023-06-01 2024-05-31 02927420 d:SharePremium 2024-05-31 02927420 d:SharePremium 2023-05-31 02927420 d:InvestmentPropertiesRevaluationReserve 2023-06-01 2024-05-31 02927420 d:InvestmentPropertiesRevaluationReserve 2024-05-31 02927420 d:InvestmentPropertiesRevaluationReserve 2023-05-31 02927420 d:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 02927420 d:RetainedEarningsAccumulatedLosses 2024-05-31 02927420 d:RetainedEarningsAccumulatedLosses 2023-05-31 02927420 c:FRS102 2023-06-01 2024-05-31 02927420 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 02927420 c:FullAccounts 2023-06-01 2024-05-31 02927420 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 02927420 2 2023-06-01 2024-05-31 02927420 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 02927420 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 02927420 d:OtherDeferredTax 2024-05-31 02927420 d:OtherDeferredTax 2023-05-31 02927420 f:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure
Registered number: 02927420






DUCK END FARM LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










img3d56.png

 
DUCK END FARM LIMITED
REGISTERED NUMBER:02927420

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
407,166
807,566

Investment property
  
503,055
-

  
910,221
807,566

Current assets
  

Stocks
  
22,371
35,820

Debtors: amounts falling due within one year
 6 
9,831
8,005

Current asset investments
 7 
126
126

Cash at bank and in hand
 8 
386,858
168,242

  
419,186
212,193

Creditors: amounts falling due within one year
 9 
(146,808)
(125,736)

Net current assets
  
 
 
272,378
 
 
86,457

Total assets less current liabilities
  
1,182,599
894,023

Creditors: amounts falling due after more than one year
 10 
(22,034)
(21,183)

Provisions for liabilities
  

Deferred tax
  
(31,368)
-

  
 
 
(31,368)
 
 
-

Net assets
  
1,129,197
872,840


Capital and reserves
  

Called up share capital 
  
99,313
99,313

Share premium account
  
167,918
167,918

Investment property reserve
  
78,792
-

Profit and loss account
  
783,174
605,609

  
1,129,197
872,840

Page 1

 
DUCK END FARM LIMITED
REGISTERED NUMBER:02927420
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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 statement of comprehensive income 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: 



M J Menhinick
Director

Date: 27 February 2025

Page 2

 
DUCK END FARM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Duck End Farm Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Millhouse, 32-38 East Street, Rochford, Essex, SS4 1DB.
The prinicple activity of the company continued to be that of animal boarding and care.

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:

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.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the statement of comprehensive income in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
DUCK END FARM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Borrowing costs

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

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

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 balance sheet 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 balance sheet 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 balance sheet date.


 
2.9

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 4

 
DUCK END FARM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

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%
Reducing Balance & 25% Straight Line
Motor vehicles
-
25%
Reducing Balance

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.

 
2.10

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.11

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 on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet 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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

Page 5

 
DUCK END FARM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.15

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.

 
2.16

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 30 (2023 - 31).

Page 6

 
DUCK END FARM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Property
improvements
Total

£
£
£
£
£



Cost or valuation


At 1 June 2023
139,649
54,741
58,634
631,808
884,832


Additions
-
2,085
-
-
2,085


Disposals
(11,669)
(568)
(42,593)
-
(54,830)


Transfers between classes
-
-
-
(373,038)
(373,038)



At 31 May 2024

127,980
56,258
16,041
258,770
459,049



Depreciation


At 1 June 2023
-
32,110
45,156
-
77,266


Charge for the year on owned assets
-
4,173
2,807
-
6,980


Disposals
-
(440)
(31,923)
-
(32,363)



At 31 May 2024

-
35,843
16,040
-
51,883



Net book value



At 31 May 2024
127,980
20,415
1
258,770
407,166



At 31 May 2023
139,649
22,631
13,478
631,808
807,566

Page 7

 
DUCK END FARM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Investment property


Freehold investment property

£



Valuation


Additions at cost
24,961


Surplus on revaluation
105,056


Transfers between classes
373,038



At 31 May 2024
503,055

The 2024 valuations were made by by the directors of the company, on an open market value for existing use basis.

2024
2023
£
£

Revaluation reserves


Net surplus / (deficit) in investment properties
105,056
-

At 31 May 2024
105,056
-





6.


Debtors

2024
2023
£
£


Trade debtors
3,150
1,643

Prepayments and accrued income
6,681
6,362

9,831
8,005



7.


Current asset investments

2024
2023
£
£

Unlisted investments
126
126

126
126


Page 8

 
DUCK END FARM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
386,858
168,242

386,858
168,242



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
4,020
9,769

Trade creditors
1,964
-

Taxation and social security
77,140
44,989

Other creditors
32,298
36,321

Accruals and deferred income
31,386
34,657

146,808
125,736


The bank loan is secured by way of a fixed and floating charge over the company's freehhold property and other assets. Obilgations under finance lease and hire purchase contracts are secured on the assets to which they relate.


10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
22,034
21,183

22,034
21,183


The bank loan is secured by way of a fixed and floating charge over the company's freehhold property and other assets. Obilgations under finance lease and hire purchase contracts are secured on the assets to which they relate.

Page 9

 
DUCK END FARM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
4,020
9,769

Amounts falling due 1-2 years

Bank loans
4,123
10,026

Amounts falling due 2-5 years

Bank loans
13,000
11,157

Amounts falling due after more than 5 years

Bank loans
4,911
-

26,054
30,952



12.


Deferred taxation




2024


£






Charged to profit or loss
31,368



At end of year
31,368

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
5,104
-

Change on investment property fair value movement
26,264
-

31,368
-

Page 10

 
DUCK END FARM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

13.


Reserves

Share premium account

This reserve records the premium paid for Ordinary shares in excess of the nominal value of those shares.

Investment property revaluation reserve

This reserve records increases in fair value of investment land and buildings and decreases to the extent
that such decreases relate to an increase on the same asset. Deferred tax on the revaluation is netted off
here against the gross valuation.
The reserve is a non-distributable reserve.

Profit and loss account

All reserves in respect of profit and loss are distributable reserves.


14.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £1,789 (2023: £1,442). Contributions totalling £474 (2023: £318) were payable to the fund at the balance sheet date and are included in creditors.


15.


Related party transactions

At the balance sheet date, included within other creditors, was an interest free loan of £27,667 (2023: £28,212) due to a connected company under common control. 

 
Page 11