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REGISTERED NUMBER: 00516447 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 September 2024

for

G.H. PARKER (NORTH COTES) LIMITED

G.H. PARKER (NORTH COTES) LIMITED (REGISTERED NUMBER: 00516447)

Contents of the Financial Statements
for the year ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G.H. PARKER (NORTH COTES) LIMITED

Company Information
for the year ended 30 September 2024







Directors: Mrs A E Hickling
Mr W H Wrisdale





Secretary: Mrs A E Hickling





Registered office: The Farm Office
Pinchbeck Farm, Sea Lane
Wainfleet St Mary
Skegness
Lincolnshire
PE24 4BA





Registered number: 00516447 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
23 Algitha Road
Skegness
United Kingdom
PE25 2AG

G.H. PARKER (NORTH COTES) LIMITED (REGISTERED NUMBER: 00516447)

Balance Sheet
30 September 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 17,193,336 16,860,564
Investments 6 6,316 6,316
17,199,652 16,866,880

Current assets
Stocks 2,590,318 3,048,660
Debtors 7 707,313 484,390
Cash in hand 174 119
3,297,805 3,533,169
Creditors
Amounts falling due within one year 8 1,550,204 2,116,899
Net current assets 1,747,601 1,416,270
Total assets less current liabilities 18,947,253 18,283,150

Creditors
Amounts falling due after more than one year 9 (9,964,549 ) (9,447,297 )

Provisions for liabilities (693,561 ) (621,513 )
Net assets 8,289,143 8,214,340

Capital and reserves
Called up share capital 11 5,732 5,732
Share premium 12 199,367 199,367
Capital redemption reserve 12 4,401 4,401
Retained earnings 12 8,079,643 8,004,840
Shareholders' funds 8,289,143 8,214,340

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

G.H. PARKER (NORTH COTES) LIMITED (REGISTERED NUMBER: 00516447)

Balance Sheet - continued
30 September 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 5 March 2025 and were signed on its behalf by:





Mrs A E Hickling - Director


G.H. PARKER (NORTH COTES) LIMITED (REGISTERED NUMBER: 00516447)

Notes to the Financial Statements
for the year ended 30 September 2024


1. Statutory information

G.H. Parker (North Cotes) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Income is recognised on the receipt of self-biling invoices received from customers in respect of crop sales and government grants.

Amortisation
Amortisation is calculated to write off the cost of the asset, less its estimated residual value, over the useful economic life of the asset as follows:

Sugar beet quota - 10% straight line

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 - Farm land is not depreciated
Improvement to buildings - 10% on cost and 5% on cost
Farming implements - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Grain dryers - at varying rates on cost

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 is based on the cost of purchasing seed, fertilisers and sprays and cost of own labour. Any crops held in store are valued at deemed cost of production.

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 funded defined benefit scheme, the costs of which are accounted for when paid.
The company also contribute to a directors personal pension the costs of which are accounted for when paid. The costs for the period ended 30 September 2024 were £7,799 (2023 - £15,000) of which £2,500 was outstanding at the year end (2023 - £10,000).

In addition the company has introduced a compliant autoenrolment scheme open to all eligible employees.

Single farm payment
The single farm payment is recognised in the financial statements in accordance with H M Revenue and Customs guidance.

G.H. PARKER (NORTH COTES) LIMITED (REGISTERED NUMBER: 00516447)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


3. Employees and directors

The average number of employees during the year was 10 (2023 - 9 ) .

4. Intangible fixed assets
Other
intangible
assets
£
Cost
At 1 October 2023
and 30 September 2024 7,920
Amortisation
At 1 October 2023
and 30 September 2024 7,920
Net book value
At 30 September 2024 -
At 30 September 2023 -

5. Tangible fixed assets
Improvement
Freehold to Farming
property buildings implements
£ £ £
Cost
At 1 October 2023 12,999,608 330,107 1,562,315
Additions - 6,650 168,140
Disposals (98,500 ) - (111,495 )
At 30 September 2024 12,901,108 336,757 1,618,960
Depreciation
At 1 October 2023 - 296,084 904,553
Charge for year - 6,850 106,258
Eliminated on disposal - - (57,457 )
At 30 September 2024 - 302,934 953,354
Net book value
At 30 September 2024 12,901,108 33,823 665,606
At 30 September 2023 12,999,608 34,023 657,762

G.H. PARKER (NORTH COTES) LIMITED (REGISTERED NUMBER: 00516447)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


5. Tangible fixed assets - continued

Fixtures
and Motor Grain
fittings vehicles dryers Totals
£ £ £ £
Cost
At 1 October 2023 17,875 2,637,163 2,861,832 20,408,900
Additions - 185,136 722,578 1,082,504
Disposals - (34,620 ) - (244,615 )
At 30 September 2024 17,875 2,787,679 3,584,410 21,246,789
Depreciation
At 1 October 2023 17,129 1,328,629 1,001,941 3,548,336
Charge for year 65 331,006 151,954 596,133
Eliminated on disposal - (33,559 ) - (91,016 )
At 30 September 2024 17,194 1,626,076 1,153,895 4,053,453
Net book value
At 30 September 2024 681 1,161,603 2,430,515 17,193,336
At 30 September 2023 746 1,308,534 1,859,891 16,860,564

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
Cost
At 1 October 2023
and 30 September 2024 505,892
Depreciation
At 1 October 2023
and 30 September 2024 213,424
Net book value
At 30 September 2024 292,468
At 30 September 2023 292,468

6. Fixed asset investments
Other
investments
£
Cost
At 1 October 2023
and 30 September 2024 6,316
Net book value
At 30 September 2024 6,316
At 30 September 2023 6,316

G.H. PARKER (NORTH COTES) LIMITED (REGISTERED NUMBER: 00516447)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


7. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 319,980 335,257
Other debtors 285,824 89,458
VAT 71,293 52,023
Prepayments 30,216 7,652
707,313 484,390

8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 629,956 1,139,850
Hire purchase contracts 187,680 -
Trade creditors 652,444 869,936
Social security and other taxes 16,121 15,610
Other creditors 2,500 30,000
Directors' current accounts 61,503 61,503
1,550,204 2,116,899

The bank loans due to be repaid within one year, have been secured by replacement loans which cover the full liability. Therefore there are no concerns regarding the Companies ability to repay the amounts falling due.

9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans - 1-2 years 432,908 331,919
Bank loans - 2-5 years 1,166,920 995,757
Bank loans more 5 yr by instal 8,364,721 8,119,621
9,964,549 9,447,297

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 8,364,721 8,119,621

10. Secured debts

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 10,594,505 10,587,147

A legal charge on the following is secured against the bank loan the Company have:

945 Acres of Freehold land at Bilsby Alford
482 Acres of Freehold land at Tetney, Grainthorpe & North Somercotes
350 Acres at Northcotes Camp, North Cotes
An unlimited debenture from the company.

G.H. PARKER (NORTH COTES) LIMITED (REGISTERED NUMBER: 00516447)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
5,732 Ordinary £1 5,732 5,732

12. Reserves
Capital
Retained Share redemption
earnings premium reserve Totals
£ £ £ £

At 1 October 2023 8,004,840 199,367 4,401 8,208,608
Profit for the year 74,803 74,803
At 30 September 2024 8,079,643 199,367 4,401 8,283,411

13. Ultimate controlling party

The company was under the control of the Trustees of Anne's Children's Settlement throughout the current and the previous year.