Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-10-01Mixed farming33truetruefalse 00820135 2023-10-01 2024-09-30 00820135 2022-10-01 2023-09-30 00820135 2024-09-30 00820135 2023-09-30 00820135 2022-10-01 00820135 c:Director1 2023-10-01 2024-09-30 00820135 d:Buildings d:ShortLeaseholdAssets 2023-10-01 2024-09-30 00820135 d:Buildings d:ShortLeaseholdAssets 2024-09-30 00820135 d:Buildings d:ShortLeaseholdAssets 2023-09-30 00820135 d:PlantMachinery 2023-10-01 2024-09-30 00820135 d:PlantMachinery 2024-09-30 00820135 d:PlantMachinery 2023-09-30 00820135 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 00820135 d:MotorVehicles 2023-10-01 2024-09-30 00820135 d:MotorVehicles 2024-09-30 00820135 d:MotorVehicles 2023-09-30 00820135 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 00820135 d:OtherPropertyPlantEquipment 2023-10-01 2024-09-30 00820135 d:OtherPropertyPlantEquipment 2024-09-30 00820135 d:OtherPropertyPlantEquipment 2023-09-30 00820135 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 00820135 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 00820135 d:PatentsTrademarksLicencesConcessionsSimilar 2023-10-01 2024-09-30 00820135 d:PatentsTrademarksLicencesConcessionsSimilar 2024-09-30 00820135 d:PatentsTrademarksLicencesConcessionsSimilar 2023-09-30 00820135 d:CurrentFinancialInstruments 2024-09-30 00820135 d:CurrentFinancialInstruments 2023-09-30 00820135 d:Non-currentFinancialInstruments 2024-09-30 00820135 d:Non-currentFinancialInstruments 2023-09-30 00820135 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 00820135 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 00820135 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 00820135 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 00820135 d:ShareCapital 2024-09-30 00820135 d:ShareCapital 2023-09-30 00820135 d:RetainedEarningsAccumulatedLosses 2024-09-30 00820135 d:RetainedEarningsAccumulatedLosses 2023-09-30 00820135 c:OrdinaryShareClass1 2023-10-01 2024-09-30 00820135 c:OrdinaryShareClass1 2024-09-30 00820135 c:OrdinaryShareClass1 2023-09-30 00820135 c:FRS102 2023-10-01 2024-09-30 00820135 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 00820135 c:FullAccounts 2023-10-01 2024-09-30 00820135 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 00820135 d:AcceleratedTaxDepreciationDeferredTax 2024-09-30 00820135 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 00820135 d:TaxLossesCarry-forwardsDeferredTax 2024-09-30 00820135 d:TaxLossesCarry-forwardsDeferredTax 2023-09-30 00820135 2 2023-10-01 2024-09-30 00820135 6 2023-10-01 2024-09-30 00820135 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-09-30 00820135 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-09-30 00820135 d:LeasedAssetsHeldAsLessee 2024-09-30 00820135 d:LeasedAssetsHeldAsLessee 2023-09-30 00820135 e:PoundSterling 2023-10-01 2024-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00820135










HEWISON FARMS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
HEWISON FARMS LIMITED
REGISTERED NUMBER: 00820135

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
£
£

Fixed assets
  

Intangible assets
 4 
-
1

Tangible assets
 5 
436,969
327,254

Investments
 6 
143
143

  
437,112
327,398

Current liablities
  

Stocks
 7 
179,372
183,473

Debtors: amounts falling due within one year
 8 
79,534
79,237

Cash at bank and in hand
 9 
166,355
211,793

Current Liablities
  
425,261
474,503

Creditors: amounts falling due within one year
 10 
(134,011)
(118,977)

Net current assets
  
 
 
291,250
 
 
355,526

Total assets less current liabilities
  
728,362
682,924

Creditors: amounts falling due after more than one year
 11 
(65,404)
(43,731)

Provisions for liabilities
  

Deferred tax
 12 
(53,016)
(45,327)

  
 
 
(53,016)
 
 
(45,327)

Net assets
  
609,942
593,866


Capital and reserves
  

Called up share capital 
 13 
10,000
10,000

Profit and loss account
  
599,942
583,866

  
609,942
593,866


Page 1

 
HEWISON FARMS LIMITED
REGISTERED NUMBER: 00820135

BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 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: 




James Hewison
Director

Date: 26 February 2025

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
HEWISON FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Hewison Farms Limited is a private company, limited by share capital and incorporated in England and Wales.
The Company's registered office address is 2 Communications Road, Greenham Business Park, Greenham, Newbury, Berkshire, RG19 6AB.
The Company's principal place of business is Hewison Farms Limited, Hartley Court Farm, Three Mile Cross, Reading, Berkshire, RG7 1NH.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

 
HEWISON FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Herd
-
No depreciation is provided on suckler cows as the herd is valued on the herd basis.
Plant & machinery
-
10% and 15% on cost
Motor vehicles
-
25% on cost
Tenant improvements
-
10% on cost

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.

 
2.5

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.6

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 normal farming practice 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.

Page 4

 
HEWISON FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

  
2.7

Biological assets

Livestock is recognised as a biological asset and is accounted for under the cost model in accordance with FRS 102.
Tillages are recognised as a biological asset and are accounted for under the cost model in accordance with FRS 102.  No depreciation is charged as tillages are considered to have a useful economic life of less than 1 year. 

 
2.8

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.

 
2.9

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.

 
2.10

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.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

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.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate
Page 5

 
HEWISON FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.11

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.

 
2.12

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.

 
2.13

Interest income

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

 
2.14

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.

Page 6

 
HEWISON FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.15

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.

 
2.16

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 3 (2023 - 3).

Page 7

 
HEWISON FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Intangible assets




BPS Entitlements

£





At 1 October 2023
1


Disposals
(1)



At 30 September 2024

-






Net book value



At 30 September 2024
-



At 30 September 2023
1



Page 8

 
HEWISON FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Tangible fixed assets





Herd
Plant & machinery
Motor vehicles
Tenant improvements
Total

£
£
£
£
£



Cost or valuation


At 1 October 2023
16,096
787,630
20,907
82,806
907,439


Additions
4,000
188,392
-
-
192,392


Disposals
(600)
(101,613)
-
-
(102,213)



At 30 September 2024

19,496
874,409
20,907
82,806
997,618



Depreciation


At 1 October 2023
-
486,483
20,907
72,795
580,185


Charge for the year on owned assets
-
71,084
-
1,693
72,777


Disposals
-
(92,313)
-
-
(92,313)



At 30 September 2024

-
465,254
20,907
74,488
560,649



Net book value



At 30 September 2024
19,496
409,155
-
8,318
436,969



At 30 September 2023
16,096
301,147
-
10,011
327,254

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


2024
2023
£
£



Plant and machinery
309,284
184,298

309,284
184,298

Page 9

 
HEWISON FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 October 2023
143



At 30 September 2024
143





7.


Stocks

2024
2023
£
£

Stocks
133,262
138,960

Biological assets
46,110
44,513

179,372
183,473



8.


Debtors

2024
2023
£
£

Trade debtors
60,793
76,693

Other debtors
5,284
1,998

Prepayments and accrued income
13,457
546

79,534
79,237



9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
166,355
211,793

166,355
211,793


Page 10

 
HEWISON FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
46,711
42,216

Other taxation and social security
1,080
934

Obligations under finance lease and hire purchase contracts
50,964
29,928

Other creditors
22,462
26,635

Accruals and deferred income
12,794
19,264

134,011
118,977


Obligations under finance lease and hire purchase contracts are secured against the assets to which they relate.


11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Obligations under finance leases and hire purchase contracts
65,404
43,731

65,404
43,731


Obligations under finance lease and hire purchase contracts are secured against the assets to which they relate.


12.


Deferred taxation




2024
2023


£

£



At beginning of year
(45,327)
(37,915)


Charged to profit or loss
(7,689)
(7,412)



At end of year
(53,016)
(45,327)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fixed asset timing differences
(100,384)
(73,382)

Unrelieved losses
47,368
28,055

(53,016)
(45,327)

Page 11

 
HEWISON FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

13.


Share capital

2024
2023
£
£
Authorised, allotted, called up and fully paid



10,000 (2023 - 10,000) Ordinary shares of £1.00 each
10,000
10,000



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 £6,074 (2023: £5,324). Contributions totalling £95 (2023: £95) were payable to the fund at the balance sheet date and are included in creditors.


15.


Related party transactions

At the year end the Company owed the directors £22,367 (2023: £22,148). This amount is interest free and repayable upon demand.


16.


Controlling party

The Company is controlled by its directors.


Page 12