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REGISTERED NUMBER: 10276405 (England and Wales)











Misson Organic Dairying Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Misson Organic Dairying Limited (Registered number: 10276405)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Misson Organic Dairying Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: EM Astley-Arlington
JFW Rathbone





REGISTERED OFFICE: Middlethorpe Grange
Caunton
Newark
Nottinghamshire
NG23 6BB





REGISTERED NUMBER: 10276405 (England and Wales)





ACCOUNTANTS: The Hutchinson Partnership Limited
trading as The Hutchinson Partnership
Chartered Accountants
The Bull Pen
Grove Farm
Portway, Burghill
Hereford
HR4 8NF

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Misson Organic Dairying Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Income and Retained Earnings and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Misson Organic Dairying Limited for the year ended 31 March 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Misson Organic Dairying Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Misson Organic Dairying Limited and state those matters that we have agreed to state to the Board of Directors of Misson Organic Dairying Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Misson Organic Dairying Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Misson Organic Dairying Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Misson Organic Dairying Limited. You consider that Misson Organic Dairying Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Misson Organic Dairying Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Hutchinson Partnership Limited
trading as The Hutchinson Partnership
Chartered Accountants
The Bull Pen
Grove Farm
Portway, Burghill
Hereford
HR4 8NF


7 March 2025

Misson Organic Dairying Limited (Registered number: 10276405)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,010,420 1,042,630
Investments 5 5 5
1,010,425 1,042,635

CURRENT ASSETS
Stocks 134,477 80,360
Debtors 6 152,095 231,263
Cash at bank 73,253 260,968
359,825 572,591
CREDITORS
Amounts falling due within one year 7 937,139 977,655
NET CURRENT LIABILITIES (577,314 ) (405,064 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

433,111

637,571

CREDITORS
Amounts falling due after more than one
year

8

601,783

869,741
NET LIABILITIES (168,672 ) (232,170 )

RESERVES
Retained earnings (168,672 ) (232,170 )
SHAREHOLDERS' FUNDS (168,672 ) (232,170 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Misson Organic Dairying Limited (Registered number: 10276405)

Balance Sheet - continued
31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 March 2025 and were signed on its behalf by:





EM Astley-Arlington - Director


Misson Organic Dairying Limited (Registered number: 10276405)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Misson Organic Dairying 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.

Going concern

The directors are aware that the company has net liabilities. This is due to this being the company's early years of trading. The directors are confident that the company will trade profitably in future. The shareholders and directors have confirmed that they will not withdraw their loan accounts to the detriment of other creditors.

The directors have considered the financial requirements of the company and consider that it will be able to operate within its agreed finance facilities for the next 12 months from the date of approval of these accounts. The directors therefore consider it appropriate to prepare the accounts on the going concern basis.

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.
Freehold property - Straight line over 200 years
Improvements to leasehold property - 5% on cost
Plant and machinery - 10% on cost and 5% on cost
Tractors and vehicles - 20% on cost
Herd - 20% on cost less residual value

Stocks
Unless stated otherwise all stocks are valued at the lower of cost and net realisable value, after making allowance for obsolete and slow moving items. Within the assets of the Company there are the following biological assets which are valued as disclosed :-

Dairy herd - included in fixed assets and valued at depreciated cost.

Youngstock - included in stock and valued at their estimated cost with reference to current market values

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Misson Organic Dairying Limited (Registered number: 10276405)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES

The average number of employees during the year was NIL (2023 - 1 ).

4. TANGIBLE FIXED ASSETS
Improvements
to
Freehold leasehold Plant and
property property machinery
£    £    £   
COST
At 1 April 2023 227,515 177,585 663,204
Additions - - 11,652
Disposals - - (2,750 )
At 31 March 2024 227,515 177,585 672,106
DEPRECIATION
At 1 April 2023 6,825 58,789 232,547
Charge for year 1,138 8,879 40,973
Eliminated on disposal - - (1,100 )
At 31 March 2024 7,963 67,668 272,420
NET BOOK VALUE
At 31 March 2024 219,552 109,917 399,686
At 31 March 2023 220,690 118,796 430,657

Misson Organic Dairying Limited (Registered number: 10276405)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS - continued

Tractors
and
vehicles Herd Totals
£    £    £   
COST
At 1 April 2023 18,880 435,725 1,522,909
Additions 42,580 60,750 114,982
Disposals - (73,450 ) (76,200 )
At 31 March 2024 61,460 423,025 1,561,691
DEPRECIATION
At 1 April 2023 10,843 171,275 480,279
Charge for year 11,914 60,038 122,942
Eliminated on disposal - (50,850 ) (51,950 )
At 31 March 2024 22,757 180,463 551,271
NET BOOK VALUE
At 31 March 2024 38,703 242,562 1,010,420
At 31 March 2023 8,037 264,450 1,042,630

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 5
NET BOOK VALUE
At 31 March 2024 5
At 31 March 2023 5

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 83,440 136,025
Prepayments and accrued income 27,518 24,968
Other debtors 4,692 4,692
VAT 12,110 17,570
Deferred tax asset 24,335 48,008
152,095 231,263

Misson Organic Dairying Limited (Registered number: 10276405)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 109,290 109,290
Trade creditors 197,887 195,953
Directors' loan accounts 599,392 599,392
Accruals and deferred income 30,570 73,020
937,139 977,655

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans - 1-2 years 109,290 109,290
Other loans - 2-5 years 327,870 327,870
Other loans due after 5 years - not by
instalments

147,146

412,607
Accruals and deferred income 17,477 19,974
601,783 869,741

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans due after 5 years - not by
instalments

147,146

412,607

9. SECURED DEBTS

All loans are unsecured.

10. DEFERRED TAX
£   
Balance at 1 April 2023 (48,008 )
Trading losses 20,029
Accelerated capital allowances 3,991
Herd (347 )
Balance at 31 March 2024 (24,335 )

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £0.00 5 - -

Misson Organic Dairying Limited (Registered number: 10276405)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


12. OTHER FINANCIAL COMMITMENTS

< 1 year1 - 5 years> 5 years

Financial commitment falling due£183,600£624,000£1,225,000

Misson Organic Dairying Limited has entered into a tenancy agreement with a term of 20 years and 10 months. At 31 March 2024 there are 13 years and 2 months of this agreement remaining. The annual rent payable is £150,000 (2023 - £150,000).

The company has entered into a contract hire agreement with a term of 36 months. At 31 March 2024 there are 28 months of this agreement remaining. The monthly charge is £1,200.

13. RELATED PARTY DISCLOSURES

A company that is controlled by one of the directors has advanced other loans of £593,050 (2023 - £858,511) at the year end. The rate of interest charged is 2% over base. At the year end Misson Organic Dairying Limited also had a trade creditor balance with the same company of £109,532 (2023 - £109,841) and a trade debtor balance of £21,150 (2023 - £52,300).

Included in trade debtors is a balance of £9,207 (2023 - £9,207) due from a partnership in which one of the directors is a partner. Included in trade creditors is a balance of £5,400 (2023 - £5,040) due to the same partnership.

At the year end the company was owed £5,463 (2023 - £5,287) from a company which is controlled by one of the directors. Misson Organic Dairying Limited had a trade creditor balance of £2,668 (2023 - £1,334) with the same company.

The director's loans are interest free.