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HACKTHORN MANOR LIMITED

Registered Number
01291136
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

HACKTHORN MANOR LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

Mr B E D Albone
Mr D Albone
Mr J A Albone

Registered Address

Manor Farm
Hackthorn
Lincoln
LN2 3PL

Registered Number

01291136 (England and Wales)
HACKTHORN MANOR LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets32,445,4482,368,470
Investments4105105
2,445,5532,368,575
Current assets
Stocks5394,592578,597
Debtors6306,552112,399
Cash at bank and on hand91,19975,153
792,343766,149
Creditors amounts falling due within one year7(1,705,607)(1,881,609)
Net current assets (liabilities)(913,264)(1,115,460)
Total assets less current liabilities1,532,2891,253,115
Creditors amounts falling due after one year8(254,219)(323,364)
Provisions for liabilities10(203,639)(232,710)
Net assets1,074,431697,041
Capital and reserves
Called up share capital80,66280,662
Share premium39,34339,343
Revaluation reserve569,249599,137
Profit and loss account385,177(22,101)
Shareholders' funds111,074,431697,041
The financial statements were approved and authorised for issue by the Board of Directors on 13 March 2025, and are signed on its behalf by:
Mr J A Albone
Director
Registered Company No. 01291136
HACKTHORN MANOR LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Land & buildings - not depreciated Fixtures & Fittings - 4% on cost. Assets not depreciated past residual value Motor Vehicles - 25% reducing balance Plant & Machinery - 15% and 33% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Government grants or assistance
Government grants are accounted for using either the performance model or the accruals model, depending on the class of the grant. Income from grants classed under the performance model is recognised when any performance conditions are met, which may be immediately if there are no performance conditions. Income from grants classed under the accruals model is recognised systematically over the period in which related costs are recognised or, if related to an asset, over the useful life of that asset.
2.Average number of employees

20242023
Average number of employees during the year45
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Total

£££££
Cost or valuation
At 01 July 2392,3801,473,26137,3901,837,0983,440,129
Additions-258,562-81,465340,027
Disposals-(181,890)--(181,890)
At 30 June 2492,3801,549,93337,3901,918,5633,598,266
Depreciation and impairment
At 01 July 231,701614,38425,477430,0971,071,659
Charge for year-74,3102,97967,590144,879
On disposals-(63,720)--(63,720)
At 30 June 241,701624,97428,456497,6871,152,818
Net book value
At 30 June 2490,679924,9598,9341,420,8762,445,448
At 30 June 2390,679858,87711,9131,407,0012,368,470
4.Fixed asset investments

Investments in groups1

Other investments2

Total

£££
Cost or valuation
At 01 July 231005105
At 30 June 241005105
Net book value
At 30 June 241005105
At 30 June 231005105

Notes

1Investments in group undertakings and participating interests
2Other investments other than loans
5.Stocks

2024

2023

££
Raw materials and consumables43,177225,804
Work in progress269,800335,727
Finished goods81,61517,066
Total394,592578,597
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables264,94570,217
Other debtors24,29421,167
Prepayments and accrued income17,31321,015
Total306,552112,399
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables92,423221,558
Bank borrowings and overdrafts99,66397,470
Taxation and social security5,3894,604
Finance lease and HP contracts47,30729,625
Other creditors1,452,2141,520,991
Accrued liabilities and deferred income8,6117,361
Total1,705,6071,881,609
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts215,326314,989
Other creditors38,8938,375
Total254,219323,364
Borrowings The pension fund loan is denominated in £ with a nominal interest rate of 2.5% variable, The carrying amount at year end is £314,989 (2023 - £412,459)
9.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts38,8938,375
Hire purchase is denominated in £ with a nominal interest rate of 0%. The carrying amount at year end is £86,200 (2023 - £38,000). The hire purchase liability is secured on the assets it relates to.
10.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)203,639232,710
Total203,639232,710
11.Revaluation reserve

£
Reserve at 01 July 23599,137
Revaluations of other assets(29,888)
At 30 June 24569,249
12.Further information regarding the company's financial position
The prior year balance sheet has been restated to account for shares held in an associated Company. The overall net asset position has not changed.