Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-312024-07-31truetrue2023-08-01falseMixed farming activities11The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10878833 2023-08-01 2024-07-31 10878833 2022-08-01 2023-07-31 10878833 2024-07-31 10878833 2023-07-31 10878833 2022-08-01 10878833 c:Director1 2023-08-01 2024-07-31 10878833 d:Buildings 2023-08-01 2024-07-31 10878833 d:Buildings 2024-07-31 10878833 d:Buildings 2023-07-31 10878833 d:Buildings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 10878833 d:Buildings d:LongLeaseholdAssets 2023-08-01 2024-07-31 10878833 d:PlantMachinery 2023-08-01 2024-07-31 10878833 d:PlantMachinery 2024-07-31 10878833 d:PlantMachinery 2023-07-31 10878833 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 10878833 d:MotorVehicles 2023-08-01 2024-07-31 10878833 d:MotorVehicles 2024-07-31 10878833 d:MotorVehicles 2023-07-31 10878833 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 10878833 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 10878833 d:CurrentFinancialInstruments 2024-07-31 10878833 d:CurrentFinancialInstruments 2023-07-31 10878833 d:Non-currentFinancialInstruments 2024-07-31 10878833 d:Non-currentFinancialInstruments 2023-07-31 10878833 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 10878833 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 10878833 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 10878833 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 10878833 d:ShareCapital 2024-07-31 10878833 d:ShareCapital 2023-07-31 10878833 d:RetainedEarningsAccumulatedLosses 2024-07-31 10878833 d:RetainedEarningsAccumulatedLosses 2023-07-31 10878833 c:FRS102 2023-08-01 2024-07-31 10878833 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 10878833 c:FullAccounts 2023-08-01 2024-07-31 10878833 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10878833 2 2023-08-01 2024-07-31 10878833 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 10878833 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 10878833 d:TaxLossesCarry-forwardsDeferredTax 2024-07-31 10878833 d:TaxLossesCarry-forwardsDeferredTax 2023-07-31 10878833 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 10878833










H R WHITE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

 
H R WHITE LIMITED
REGISTERED NUMBER: 10878833

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
709,856
604,296

Current assets
  

Stocks
  
4,860
-

Debtors: amounts falling due within one year
 5 
18,682
4,539

Cash at bank and in hand
  
95,813
1,924

  
119,355
6,463

Creditors: amounts falling due within one year
 6 
(339,403)
(260,901)

Net current liabilities
  
 
 
(220,048)
 
 
(254,438)

Total assets less current liabilities
  
489,808
349,858

Creditors: amounts falling due after more than one year
 7 
(495,482)
(319,061)

Provisions for liabilities
  

Deferred tax
 8 
-
(3,591)

Net (liabilities)/assets
  
(5,674)
27,206


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(5,675)
27,205

  
(5,674)
27,206


Page 1

 
H R WHITE LIMITED
REGISTERED NUMBER: 10878833
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The director considers 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 director acknowledges his 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 statement of income and retained earnings 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 on 19 March 2025.





H R White
Director

The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
H R WHITE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Highfields Farm (2017) Limited is a private company limited by shares, incorporated in England and Wales (registered number: 10878833). Its registered office is Hollycroft, Calver Sough, Calver, Hope Valley, Derbyshire, S32 3XH. The principal activity throughout the year was that of mixed farming activities and equipment hire. 

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 Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future.
The validity of this assumption depends on the ability of the company to generate profits in the future. The director believes this to be well founded, based on current and expected future levels of activity. The financial statements do not include any adjustments that would result if sufficient profits were not generated.
Page 3

 
H R WHITE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue 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 revenue 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

Revenue 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 revenue 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.

 
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 Statement of Income and Retained Earnings 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 Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

Page 4

 
H R WHITE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.6

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows. 

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line basis
Land
-
not depreciated
Plant and machinery
-
20%
straight line basis
Motor vehicles
-
20%
reducing balance basis

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 the Statement of Income and Retained Earnings. 

 
2.7

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 first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each Balance Sheet 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 the Statement of Income and Retained Earnings. 
Page 5

 
H R WHITE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.9

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet 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 Balance Sheet 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. 
Page 6

 
H R WHITE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 August 2023
598,779
40,512
-
639,291


Additions
65,257
60,327
535
126,119



At 31 July 2024

664,036
100,839
535
765,410



Depreciation


At 1 August 2023
14,264
20,731
-
34,995


Charge for the year on owned assets
4,910
15,587
62
20,559



At 31 July 2024

19,174
36,318
62
55,554



Net book value



At 31 July 2024
644,862
64,521
473
709,856



At 31 July 2023
584,515
19,781
-
604,296

Page 7

 
H R WHITE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
11,148
3,626

Other debtors
343
-

Prepayments and accrued income
1,838
913

Deferred taxation
5,353
-

18,682
4,539



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
19,146
29,496

Trade creditors
6,908
2,052

Corporation tax
905
4,304

Other taxation and social security
-
1,960

Other creditors
304,006
221,424

Accruals and deferred income
8,438
1,665

339,403
260,901



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
495,482
319,061


Secured loans
Included in creditors are bank loans on which security has been given by a fixed and floating charge over the assets of the Company. In addition, a personal guarantee has been provided by the director, limited to £42,000.
Amounts payable wholly or in part later than five years
The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is £438,085 (2023: £225,544).

Page 8

 
H R WHITE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

8.


Deferred taxation




2024
2023


£

£






At beginning of year
3,591
5,286


Charged to the Statement of Income and Retained Earnings
(8,944)
(1,695)



At end of year
(5,353)
3,591

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
177
3,591

Tax losses carried forward
(5,530)
-

(5,353)
3,591

 
Page 9