Southern Hay and Straw Co Limited 11293491 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is post-harvest crop activities. Digita Accounts Production Advanced 6.30.9574.0 true 11293491 2023-07-01 2024-06-30 11293491 2024-06-30 11293491 bus:Director1 1 2024-06-30 11293491 bus:Director2 1 2024-06-30 11293491 bus:OrdinaryShareClass1 bus:OtherShareType 2024-06-30 11293491 core:RetainedEarningsAccumulatedLosses 2024-06-30 11293491 core:ShareCapital 2024-06-30 11293491 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-06-30 11293491 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-06-30 11293491 core:CurrentFinancialInstruments 2024-06-30 11293491 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 11293491 core:Non-currentFinancialInstruments 2024-06-30 11293491 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 11293491 core:FurnitureFittings 2024-06-30 11293491 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 11293491 core:PlantMachinery 2024-06-30 11293491 bus:SmallEntities 2023-07-01 2024-06-30 11293491 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 11293491 bus:FilletedAccounts 2023-07-01 2024-06-30 11293491 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 11293491 bus:RegisteredOffice 2023-07-01 2024-06-30 11293491 bus:Director1 2023-07-01 2024-06-30 11293491 bus:Director1 1 2023-07-01 2024-06-30 11293491 bus:Director2 2023-07-01 2024-06-30 11293491 bus:Director2 1 2023-07-01 2024-06-30 11293491 bus:OrdinaryShareClass1 bus:OtherShareType 2023-07-01 2024-06-30 11293491 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 11293491 core:FurnitureFittings 2023-07-01 2024-06-30 11293491 core:LandBuildings 2023-07-01 2024-06-30 11293491 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 11293491 core:PlantMachinery 2023-07-01 2024-06-30 11293491 countries:England 2023-07-01 2024-06-30 11293491 2023-06-30 11293491 bus:Director1 1 2023-06-30 11293491 bus:Director2 1 2023-06-30 11293491 core:FurnitureFittings 2023-06-30 11293491 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 11293491 core:PlantMachinery 2023-06-30 11293491 2022-07-01 2023-06-30 11293491 2023-06-30 11293491 bus:OrdinaryShareClass1 bus:OtherShareType 2023-06-30 11293491 core:RetainedEarningsAccumulatedLosses 2023-06-30 11293491 core:ShareCapital 2023-06-30 11293491 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-06-30 11293491 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-06-30 11293491 core:CurrentFinancialInstruments 2023-06-30 11293491 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 11293491 core:Non-currentFinancialInstruments 2023-06-30 11293491 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 11293491 core:FurnitureFittings 2023-06-30 11293491 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 11293491 core:PlantMachinery 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11293491

Southern Hay and Straw Co Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Southern Hay and Straw Co Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Southern Hay and Straw Co Limited

Company Information

Directors

Mr P A Williams

Mr H T Baird

Registered office

East Farm
Fovant
Salisbury
Wiltshire
SP3 5JD

Accountants

Numeric Accounting
Chartered Certified Accountants
Suite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

Southern Hay and Straw Co Limited

(Registration number: 11293491)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

632,506

774,963

Current assets

 

Stocks

5

91,380

107,923

Debtors

6

129,324

93,387

Cash at bank and in hand

 

392,475

223,341

 

613,179

424,651

Creditors: Amounts falling due within one year

7

(561,326)

(571,208)

Net current assets/(liabilities)

 

51,853

(146,557)

Total assets less current liabilities

 

684,359

628,406

Creditors: Amounts falling due after more than one year

7

(60,483)

(150,013)

Provisions for liabilities

(130,561)

(132,809)

Net assets

 

493,315

345,584

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

493,215

345,484

Shareholders' funds

 

493,315

345,584

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Southern Hay and Straw Co Limited

(Registration number: 11293491)
Balance Sheet as at 30 June 2024 (continued)

Approved and authorised by the Board on 21 March 2025 and signed on its behalf by:
 

.........................................
Mr P A Williams
Director

.........................................
Mr H T Baird
Director

 

Southern Hay and Straw Co Limited

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:
East Farm
Fovant
Salisbury
Wiltshire
SP3 5JD

These financial statements were authorised for issue by the Board on 21 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 and 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.

 

Southern Hay and Straw Co Limited

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

2

Accounting policies (continued)

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.

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.

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

Freehold Property

2% Straight Line

Plant and Machinery

25% Reducing Balance

Fixtures and Fittings

25% Reducing Balance

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.

 

Southern Hay and Straw Co Limited

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

2

Accounting policies (continued)

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Financial instruments

Classification
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
 Recognition and measurement
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Southern Hay and Straw Co Limited

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

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 July 2023

95,139

7,950

1,009,751

1,112,840

Additions

19,011

10,000

25,169

54,180

Disposals

-

-

(81,716)

(81,716)

At 30 June 2024

114,150

17,950

953,204

1,085,304

Depreciation

At 1 July 2023

4,012

5,494

328,371

337,877

Charge for the year

2,039

1,714

170,753

174,506

Eliminated on disposal

-

-

(59,585)

(59,585)

At 30 June 2024

6,051

7,208

439,539

452,798

Carrying amount

At 30 June 2024

108,099

10,742

513,665

632,506

At 30 June 2023

91,127

2,456

681,380

774,963

Included within the net book value of land and buildings above is £108,099 (2023 - £91,127) in respect of freehold land and buildings.
 

The net book value of Plant and Machinery includes £415,418 (2023 - £582,308) in respect of assets leased under finance leases or hire purchase contracts.

5

Stocks

2024
£

2023
£

Other inventories

91,380

107,923

 

Southern Hay and Straw Co Limited

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

6

Debtors

Current

2024
£

2023
£

Trade debtors

129,324

58,453

Prepayments

-

16,801

Other debtors

-

18,133

 

129,324

93,387

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

95,706

136,182

Trade creditors

 

88,758

106,117

Taxation and social security

 

59,769

-

Other creditors

 

317,093

328,909

 

561,326

571,208

 

Southern Hay and Straw Co Limited

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

7

Creditors (continued)

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

60,483

150,013

8

Deferred Tax

2024
£

At 1 July 2023

132,809

Movement

(2,248)

130,561

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

20,000

Hire purchase contracts

50,483

130,013

60,483

150,013

Current loans and borrowings

 

Southern Hay and Straw Co Limited

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

10

Loans and borrowings (continued)

2024
£

2023
£

Bank borrowings

10,000

10,000

Hire purchase contracts

85,706

126,182

95,706

136,182

11

Dividends

2024

2023

£

£

Interim dividend of £20.00 (2023 - £40.00) per ordinary share

2,000

4,000

 

 

12

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Other payments made to company by director
£

At 30 June 2024
£

Mr H T Baird

The loan is interest free with no fixed date of repayment.

(39,185)

4,260

(34,925)

Mr P A Williams

The loan is interest free with no fixed date of repayment.

(48,835)

2,757

(46,078)