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Registration number: 11849603

The Brow Farm Norbury Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

The Brow Farm Norbury Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Balance Sheet

4 to 5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 11

 

The Brow Farm Norbury Ltd

Company Information

Directors

Mr Gary Smith

Mrs Jayne Lynne Smith

Mrs Emily Louise Jones

Mr William David Jones

Registered office

Spring Cottage
Steventon Road
Ludlow
SY8 4BN

Accountants

Oakleys Professional Limited
14 St Owen Street
Hereford
HR1 2PL

 

The Brow Farm Norbury Ltd

Directors' Report for the Year Ended 30 June 2024

The directors present their report and the financial statements for the year ended 30 June 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Gary Smith

Mrs Jayne Lynne Smith

Mrs Emily Louise Jones

Mr William David Jones

Principal activity

The principal activity of the company is farming

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 12 March 2025 and signed on its behalf by:

.........................................
Mr Gary Smith
Director

.........................................
Mr William David Jones
Director

.........................................
Mrs Jayne Lynne Smith
Director

.........................................
Mrs Emily Louise Jones
Director

     
 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
The Brow Farm Norbury Ltd
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Brow Farm Norbury Ltd for the year ended 30 June 2024 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

It is your duty to ensure that The Brow Farm Norbury Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of The Brow Farm Norbury Ltd. You consider that The Brow Farm Norbury Ltd 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 accounts of The Brow Farm Norbury Ltd. 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 accounts.

......................................

Oakleys Professional Limited
14 St Owen Street
Hereford
HR1 2PL

12 March 2025

 

The Brow Farm Norbury Ltd

(Registration number: 11849603)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

fixed assets

 

Intangible assets

-

22,832

tangible assets

5

1,198,184

1,234,115

 

1,198,184

1,256,947

Current assets

 

stocks

6

825,122

728,745

Debtors

7

222,031

29,273

Cash at bank

 

301,417

296,417

 

1,348,570

1,054,435

Creditors: Amounts falling due within one year

8

(378,117)

(275,173)

Net current assets

 

970,453

779,262

Total assets less current liabilities

 

2,168,637

2,036,209

Creditors: Amounts falling due after more than one year

8

(1,107,139)

(1,188,137)

Net assets

 

1,061,498

848,072

capital and reserves

 

Called up share capital

2,000

1,000

Share premium reserve

350,000

350,000

Profit and loss account

709,498

497,072

Total equity

 

1,061,498

848,072

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 12 March 2025 and signed on its behalf by:
 

 

The Brow Farm Norbury Ltd

(Registration number: 11849603)
Balance Sheet as at 30 June 2024

.........................................
Mr Gary Smith
Director

.........................................
Mr William David Jones
Director

.........................................
Mrs Jayne Lynne Smith
Director

.........................................
Mrs Emily Louise Jones
Director

     
 

The Brow Farm Norbury Ltd

Statement of Changes in Equity for the Year Ended 30 June 2024

Share capital
£

Share premium
£

Profit and loss account
£

Total
£

At 1 July 2023

1,000

350,000

497,072

848,072

Profit for the year

-

-

227,426

227,426

Total comprehensive income

-

-

227,426

227,426

Dividends

-

-

(15,000)

(15,000)

New share capital subscribed

1,000

-

-

1,000

At 30 June 2024

2,000

350,000

709,498

1,061,498

Share capital
£

Share premium
£

Retained earnings
£

Total
£

At 1 July 2022

1,000

350,000

113,751

464,751

Profit for the year

-

-

383,321

383,321

At 30 June 2023

1,000

350,000

497,072

848,072

 

The Brow Farm Norbury Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Spring Cottage
Steventon Road
Ludlow
SY8 4BN
United Kingdom

The principal place of business is:
Brow Farm
Norbury
Bishops Castle
Shropshire
SY9 5DX

These financial statements were authorised for issue by the Board on 12 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

The Brow Farm Norbury Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Farmhouse expenditure

2% reducing balance

Plant & machinery

15% reducing balance

Fixtures to buildings

5% reducing balance

Motor vehicles

15% reducing balance

Milking parlour

8% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

The directors have chosen the fair value model basis for the valuation of biological assets under FRS 102.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

The Brow Farm Norbury Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 9).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

81,257

83,404

 

The Brow Farm Norbury Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2023

649,477

527,355

95,308

284,217

1,556,357

Additions

-

-

750

44,576

45,326

At 30 June 2024

649,477

527,355

96,058

328,793

1,601,683

Depreciation

At 1 July 2023

45,619

137,211

40,502

98,910

322,242

Charge for the year

12,077

26,969

7,729

34,482

81,257

At 30 June 2024

57,696

164,180

48,231

133,392

403,499

Carrying amount

At 30 June 2024

591,781

363,175

47,827

195,401

1,198,184

At 30 June 2023

231,584

390,144

54,806

557,581

1,234,115

Included within the net book value of land and buildings above is £591,781 (2023 - £231,584) in respect of freehold land and buildings.
 

 

The Brow Farm Norbury Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

stocks

2024
£

2023
£

Raw materials and consumables

825,122

728,745

7

debtors

Current

2024
£

2023
£

Trade debtors

186,574

20,518

Other debtors

35,457

8,755

 

222,031

29,273

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

115,688

59,854

Taxation and social security

20,329

-

Other creditors

242,100

215,319

378,117

275,173

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

1,107,139

1,188,137

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000