Silverfin false false 30/06/2024 01/07/2023 30/06/2024 Mrs J E Kidston 11/06/2007 Mr S Kidston 11/06/2007 23 January 2025 The principal activity of the company during the year continued to be the supply and transport of hay and straw. 06274905 2024-06-30 06274905 bus:Director1 2024-06-30 06274905 bus:Director2 2024-06-30 06274905 2023-06-30 06274905 core:CurrentFinancialInstruments 2024-06-30 06274905 core:CurrentFinancialInstruments 2023-06-30 06274905 core:Non-currentFinancialInstruments 2024-06-30 06274905 core:Non-currentFinancialInstruments 2023-06-30 06274905 core:ShareCapital 2024-06-30 06274905 core:ShareCapital 2023-06-30 06274905 core:RetainedEarningsAccumulatedLosses 2024-06-30 06274905 core:RetainedEarningsAccumulatedLosses 2023-06-30 06274905 core:LandBuildings 2023-06-30 06274905 core:PlantMachinery 2023-06-30 06274905 core:Vehicles 2023-06-30 06274905 core:LandBuildings 2024-06-30 06274905 core:PlantMachinery 2024-06-30 06274905 core:Vehicles 2024-06-30 06274905 2023-07-01 2024-06-30 06274905 bus:FilletedAccounts 2023-07-01 2024-06-30 06274905 bus:SmallEntities 2023-07-01 2024-06-30 06274905 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 06274905 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06274905 bus:Director1 2023-07-01 2024-06-30 06274905 bus:Director2 2023-07-01 2024-06-30 06274905 core:LandBuildings core:TopRangeValue 2023-07-01 2024-06-30 06274905 core:PlantMachinery 2023-07-01 2024-06-30 06274905 core:Vehicles 2023-07-01 2024-06-30 06274905 2022-07-01 2023-06-30 06274905 core:LandBuildings 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Company No: 06274905 (England and Wales)

EXMOOR HAY & STRAW LTD

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

EXMOOR HAY & STRAW LTD

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

EXMOOR HAY & STRAW LTD

BALANCE SHEET

As at 30 June 2024
EXMOOR HAY & STRAW LTD

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,364,496 1,164,669
1,364,496 1,164,669
Current assets
Stocks 4 20,250 18,000
Debtors 5 390,362 633,099
Cash at bank and in hand 808,110 535,281
1,218,722 1,186,380
Creditors: amounts falling due within one year 6 ( 496,405) ( 323,265)
Net current assets 722,317 863,115
Total assets less current liabilities 2,086,813 2,027,784
Creditors: amounts falling due after more than one year 7 ( 9,352) ( 29,352)
Provision for liabilities ( 336,971) ( 286,749)
Net assets 1,740,490 1,711,683
Capital and reserves
Called-up share capital 4 4
Profit and loss account 1,740,486 1,711,679
Total shareholders' funds 1,740,490 1,711,683

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 financial statements of Exmoor Hay & Straw Ltd (registered number: 06274905) were approved and authorised for issue by the Board of Directors on 23 January 2025. They were signed on its behalf by:

Mrs J E Kidston
Director
Mr S Kidston
Director
EXMOOR HAY & STRAW LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
EXMOOR HAY & STRAW LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Exmoor Hay & Straw Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 25 years straight line
Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 5

3. Tangible assets

Land and buildings Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 July 2023 165,075 1,821,600 97,084 2,083,759
Additions 0 377,737 0 377,737
At 30 June 2024 165,075 2,199,337 97,084 2,461,496
Accumulated depreciation
At 01 July 2023 41,420 840,817 36,853 919,090
Charge for the financial year 3,541 160,969 13,400 177,910
At 30 June 2024 44,961 1,001,786 50,253 1,097,000
Net book value
At 30 June 2024 120,114 1,197,551 46,831 1,364,496
At 30 June 2023 123,655 980,783 60,231 1,164,669

4. Stocks

2024 2023
£ £
Stocks 20,250 18,000

5. Debtors

2024 2023
£ £
Trade debtors 377,121 623,883
Other debtors 13,241 9,216
390,362 633,099

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 0
Trade creditors 439,527 196,107
Corporation tax 73 57,190
Other taxation and social security ( 23,741) 16,685
Other creditors 70,546 53,283
496,405 323,265

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 9,352 29,352