Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-30154500015450006686682023-07-01falseNo description of principal activityfalse54truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03066481 2023-07-01 2024-06-30 03066481 2022-07-01 2023-06-30 03066481 2024-06-30 03066481 2023-06-30 03066481 2023-07-01 03066481 2022-07-01 03066481 c:Director2 2023-07-01 2024-06-30 03066481 d:Buildings 2023-07-01 2024-06-30 03066481 d:Buildings 2024-06-30 03066481 d:Buildings 2023-06-30 03066481 d:Buildings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03066481 d:Buildings d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 03066481 d:Buildings d:LongLeaseholdAssets 2023-07-01 2024-06-30 03066481 d:PlantMachinery 2023-07-01 2024-06-30 03066481 d:PlantMachinery 2024-06-30 03066481 d:PlantMachinery 2023-06-30 03066481 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03066481 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 03066481 d:FurnitureFittings 2023-07-01 2024-06-30 03066481 d:FurnitureFittings 2024-06-30 03066481 d:FurnitureFittings 2023-06-30 03066481 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03066481 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 03066481 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03066481 d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 03066481 d:CopyrightsPatentsTrademarksServiceOperatingRights 2024-06-30 03066481 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-06-30 03066481 d:FreeholdInvestmentProperty 2024-06-30 03066481 d:FreeholdInvestmentProperty 2023-06-30 03066481 d:CurrentFinancialInstruments 2024-06-30 03066481 d:CurrentFinancialInstruments 2023-06-30 03066481 d:Non-currentFinancialInstruments 2024-06-30 03066481 d:Non-currentFinancialInstruments 2023-06-30 03066481 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 03066481 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 03066481 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 03066481 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 03066481 d:ShareCapital 2023-07-01 2024-06-30 03066481 d:ShareCapital 2024-06-30 03066481 d:ShareCapital 2022-07-01 2023-06-30 03066481 d:ShareCapital 2023-06-30 03066481 d:ShareCapital 2022-07-01 03066481 d:CapitalRedemptionReserve 2023-07-01 2024-06-30 03066481 d:CapitalRedemptionReserve 2024-06-30 03066481 d:CapitalRedemptionReserve 2022-07-01 2023-06-30 03066481 d:CapitalRedemptionReserve 2023-06-30 03066481 d:CapitalRedemptionReserve 2022-07-01 03066481 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 03066481 d:RetainedEarningsAccumulatedLosses 2024-06-30 03066481 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 03066481 d:RetainedEarningsAccumulatedLosses 2023-06-30 03066481 d:RetainedEarningsAccumulatedLosses 2022-07-01 03066481 c:OrdinaryShareClass1 2023-07-01 2024-06-30 03066481 c:OrdinaryShareClass1 2024-06-30 03066481 c:OrdinaryShareClass2 2023-07-01 2024-06-30 03066481 c:OrdinaryShareClass2 2024-06-30 03066481 c:FRS102 2023-07-01 2024-06-30 03066481 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 03066481 c:FullAccounts 2023-07-01 2024-06-30 03066481 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03066481 2 2023-07-01 2024-06-30 03066481 6 2023-07-01 2024-06-30 03066481 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 03066481 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 03066481 d:RetirementBenefitObligationsDeferredTax 2024-06-30 03066481 d:RetirementBenefitObligationsDeferredTax 2023-06-30 03066481 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-06-30 03066481 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-06-30 03066481 d:LeasedAssetsHeldAsLessee 2024-06-30 03066481 d:LeasedAssetsHeldAsLessee 2023-06-30 03066481 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 03066481













HBS FARMS (1995) LIMITED




UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
HBS FARMS (1995) LIMITED
REGISTERED NUMBER:03066481

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,473,956
1,100,797

Investments
 6 
63,485
63,485

Investment property
 7 
1,545,000
1,545,000

  
3,082,441
2,709,282

Current assets
  

Stocks
  
361,662
361,696

Debtors: amounts falling due within one year
 8 
353,400
568,155

Cash at bank and in hand
 9 
772
2

  
715,834
929,853

Creditors: amounts falling due within one year
 10 
(706,212)
(773,160)

Net current assets
  
 
 
9,622
 
 
156,693

Total assets less current liabilities
  
3,092,063
2,865,975

Creditors: amounts falling due after more than one year
 11 
(1,125,402)
(1,213,616)

Provisions for liabilities
  

Deferred tax
 12 
(300,306)
(207,288)

  
 
 
(300,306)
 
 
(207,288)

Net assets
  
1,666,355
1,445,071


Capital and reserves
  

Called up share capital 
 13 
334
334

Capital redemption reserve
  
666
666

Profit and loss account
  
1,665,355
1,444,071

  
1,666,355
1,445,071


Page 1

 
HBS FARMS (1995) LIMITED
REGISTERED NUMBER:03066481
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

A B Sands
Director

Date: 15 March 2025

The notes on pages 5 to 15 form part of these financial statements.

Page 2

 
HBS FARMS (1995) LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 July 2023
334
666
1,444,071
1,445,071


Comprehensive income for the year

Profit for the year

-
-
235,034
235,034


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
235,034
235,034


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(13,750)
(13,750)


Total transactions with owners
-
-
(13,750)
(13,750)


At 30 June 2024
334
666
1,665,355
1,666,355


The notes on pages 5 to 15 form part of these financial statements.

Page 3

 
HBS FARMS (1995) LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 July 2022
334
666
1,325,523
1,326,523


Comprehensive income for the year

Profit for the year

-
-
118,548
118,548


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
118,548
118,548


Total transactions with owners
-
-
-
-


At 30 June 2023
334
666
1,444,071
1,445,071


The notes on pages 5 to 15 form part of these financial statements.

Page 4

 
HBS FARMS (1995) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

HBS Farms (1995) Limited is a private company limited by shares and incorporated in England and Wales, registration number 03066481. The registered office is 1st Floor Prospect House, Rouen Road, Norwich, Norfolk, NR1 1RE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 5

 
HBS FARMS (1995) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 6

 
HBS FARMS (1995) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 7

 
HBS FARMS (1995) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance method.

Depreciation is provided on the following basis:

Leasehold property improvements
-
4/10% straight line
Plant & machinery
-
15/25% reducing balance and 10/15% straight line
Fixtures & fittings
-
15/25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

 
2.13

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Income Statement for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.14

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.15

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 8

 
HBS FARMS (1995) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.16

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.17

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.18

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.19

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 4).

Page 9

 
HBS FARMS (1995) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Intangible assets




Entitlements

£



Cost


At 1 July 2023
49,476



At 30 June 2024

49,476



Amortisation


At 1 July 2023
49,476



At 30 June 2024

49,476



Net book value



At 30 June 2024
-



At 30 June 2023
-



Page 10

 
HBS FARMS (1995) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Tangible fixed assets





Leasehold property improve-ments
Plant & machinery
Fixtures & fittings
Total

£
£
£
£



Cost or valuation


At 1 July 2023
568,453
2,044,105
2,810
2,615,368


Additions
22,374
614,555
516
637,445


Disposals
-
(120,214)
-
(120,214)



At 30 June 2024

590,827
2,538,446
3,326
3,132,599



Depreciation


At 1 July 2023
428,478
1,084,231
1,862
1,514,571


Charge for the year on owned assets
9,194
221,702
326
231,222


Charge for the year on financed assets
-
11,380
-
11,380


Disposals
-
(98,530)
-
(98,530)



At 30 June 2024

437,672
1,218,783
2,188
1,658,643



Net book value



At 30 June 2024
153,155
1,319,663
1,138
1,473,956



At 30 June 2023
139,975
959,874
948
1,100,797

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
64,482
75,862

64,482
75,862

Page 11

 
HBS FARMS (1995) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 July 2023
63,485



At 30 June 2024
63,485







7.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
1,545,000



At 30 June 2024
1,545,000

The investment properties have been included based on valuations as at February 2021 prepared by Bidwells.  The Directors believe that this valuation is still appropriate.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
1,410,020
1,410,020

Accumulated depreciation and impairments
(1,410,020)
(1,410,020)

-
-

Page 12

 
HBS FARMS (1995) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Debtors

2024
2023
£
£


Trade debtors
107,474
403,270

Other debtors
189,128
99,212

Prepayments and accrued income
56,798
65,673

353,400
568,155



9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
772
2

Less: bank overdrafts
(317,462)
(106,679)

(316,690)
(106,677)



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
317,462
106,679

Bank loans
61,361
95,418

Trade creditors
183,483
381,558

Corporation tax
-
29,685

Other taxation and social security
-
1,317

Obligations under finance lease and hire purchase contracts
38,588
36,087

Other creditors
14,811
14,061

Accruals and deferred income
90,507
108,355

706,212
773,160


The bank overdraft is secured by a first legal charge over 94.8 acres of land and a fixed and floating charge over the undertaking and all property and assets.  The bank loans are secured by a freehold first legal charge over 94.8 acres of land held and granted by A B Sands and W B Sands and a fixed and floating charge over the undertaking and all property and assets.

Page 13

 
HBS FARMS (1995) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,058,428
1,108,153

Net obligations under finance leases and hire purchase contracts
66,974
105,463

1,125,402
1,213,616


The net obligations under finance leases and hire purchase contracts are secured on the assets concerned.


12.


Deferred taxation




2024


£






At beginning of year
(207,288)


Charged to profit or loss
(93,018)



At end of year
(300,306)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(314,466)
(221,448)

Capital gains and losses
14,160
14,160

(300,306)
(207,288)


13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 Ordinary A share of £1.00
1
1
333 Ordinary B shares of £1.00 each
333
333

334

334


Page 14

 
HBS FARMS (1995) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

14.


Pension commitments

The company participates in a pension scheme, which is a multi-employer scheme. The assets of the scheme are held separately from those of the company in independently administered funds. 
The HBSH Pension Scheme is a money purchase pension scheme for certain employees. The assets of the scheme are held separately to the company.
The pension charge for this scheme represents contributions paid by this company which amount to £98,000 (2023: £Nil)


Page 15