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Registration number: 03349512

Rockscape Farms Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Rockscape Farms Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Rockscape Farms Ltd

Company Information

Directors

Mrs R H Bletcher

Mr T R Bletcher

Mr P R Bletcher

Registered office

North Moor Farm
Crowle
North Lincolnshire
DN17 4DA

Accountants

Wright Vigar Ltd Office 1 Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA

 

Rockscape Farms Ltd

(Registration number: 03349512)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

-

477

Tangible assets

6

3,524,783

2,472,230

 

3,524,783

2,472,707

Current assets

 

Stocks

7

720,216

666,942

Debtors

8

442,819

795,567

Cash at bank and in hand

 

228,122

710,217

 

1,391,157

2,172,726

Creditors: Amounts falling due within one year

9

(631,806)

(982,305)

Net current assets

 

759,351

1,190,421

Total assets less current liabilities

 

4,284,134

3,663,128

Creditors: Amounts falling due after more than one year

9

(2,855,913)

(1,955,748)

Provisions for liabilities

(153,877)

(218,686)

Net assets

 

1,274,344

1,488,694

Capital and reserves

 

Called up share capital

10

20,000

20,000

Retained earnings

1,254,344

1,468,694

Shareholders' funds

 

1,274,344

1,488,694

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.

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 10 March 2025 and signed on its behalf by:
 

.........................................
Mr T R Bletcher
Director

 

Rockscape Farms 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:
North Moor Farm
Crowle
North Lincolnshire
DN17 4DA
England

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.

Other grants

Grants relating to revenue are recognised in the profit and loss account on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

Tax

The tax expense for the period comprises deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Rockscape Farms Ltd

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

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

Buildings

4% on cost and 5% on cost

Office equipment

20% on cost

Grainstore

4% on cost

Plant and machinery

4% on cost and 15% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Entitlements

3 years straight line

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Borrowings

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Rockscape Farms Ltd

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

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.

Financial instruments

Recognition and measurement
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

329,944

103,983

Amortisation expense

477

571

5

Intangible assets

Entitlements
 £

Total
£

Cost or valuation

At 1 July 2023

1,714

1,714

At 30 June 2024

1,714

1,714

Amortisation

At 1 July 2023

1,237

1,237

Amortisation charge

477

477

At 30 June 2024

1,714

1,714

Carrying amount

At 30 June 2024

-

-

At 30 June 2023

477

477

 

Rockscape Farms Ltd

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

6

Tangible assets

Land and buildings
£

Office equipment
£

Grain store
£

Plant and machinery
£

Cost or valuation

At 1 July 2023

759,605

12,233

991,363

1,468,564

Additions

928,627

-

-

453,869

At 30 June 2024

1,688,232

12,233

991,363

1,922,433

Depreciation

At 1 July 2023

118,844

12,224

479,191

149,275

Charge for the year

53,292

-

39,655

236,997

At 30 June 2024

172,136

12,224

518,846

386,272

Carrying amount

At 30 June 2024

1,516,096

9

472,517

1,536,161

At 30 June 2023

640,761

9

512,171

1,319,289

Total
£

Cost or valuation

At 1 July 2023

3,231,765

Additions

1,382,496

At 30 June 2024

4,614,261

Depreciation

At 1 July 2023

759,534

Charge for the year

329,944

At 30 June 2024

1,089,478

Carrying amount

At 30 June 2024

3,524,783

At 30 June 2023

2,472,230

7

Stocks

2024
£

2023
£

Work in progress

676,456

624,165

Finished goods and goods for resale

43,760

42,777

720,216

666,942



 

 

Rockscape Farms Ltd

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

8

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

166,349

480,106

Amounts owed by related parties

18,188

13,155

Prepayments

 

142,422

76,245

Other debtors

 

115,860

226,061

   

442,819

795,567

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

439,651

584,573

Amounts owed to group undertakings and undertakings in which the company has a participating interest

120,000

91,385

Accruals and deferred income

 

72,155

181,347

Other creditors

 

-

125,000

 

631,806

982,305

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

-

1,955,748

Amounts owed to group undertakings

 

2,855,913

-

 

2,855,913

1,955,748

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

20,000

20,000

20,000

20,000

       
 

Rockscape Farms Ltd

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

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

-

1,955,748