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REGISTERED NUMBER: 00407053 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Hanby Farms Limited

Hanby Farms Limited (Registered number: 00407053)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Hanby Farms Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: P J Dobney
Mrs S A Dobney
Mrs L C Gilbert
O J Dobney





SECRETARY: Mrs S A Dobney





REGISTERED OFFICE: Hanby Lodge Farm
Hanby
Grantham
Lincolnshire
NG33 4HL





REGISTERED NUMBER: 00407053 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Northgate House
Northgate
Sleaford
Lincolnshire
NG34 7BZ

Hanby Farms Limited (Registered number: 00407053)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,421,912 1,472,573
Investments 5 952 952
1,422,864 1,473,525

CURRENT ASSETS
Stocks 226,049 344,064
Debtors 6 46,002 63,905
Cash at bank 89,672 28,470
361,723 436,439
CREDITORS
Amounts falling due within one year 7 38,129 53,639
NET CURRENT ASSETS 323,594 382,800
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,746,458

1,856,325

CREDITORS
Amounts falling due after more than one
year

8

525,774

546,987
NET ASSETS 1,220,684 1,309,338

CAPITAL AND RESERVES
Called up share capital 10 16,500 16,500
Capital redemption reserve 500 500
Fair value reserve 11 9,211 9,211
Retained earnings 1,194,473 1,283,127
SHAREHOLDERS' FUNDS 1,220,684 1,309,338

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:



P J Dobney - Director


Hanby Farms Limited (Registered number: 00407053)

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

1. STATUTORY INFORMATION

Hanby Farms Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and Buildings - 4% on reducing balance
Improvements to property - 20% on reducing balance
Plant and machinery - 20% on reducing balance, 15% on reducing balance and 10% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Valuation is valued at the lower of cost and net realisable value. Cost is determined using standard costing calculations prepared by the Central Association of Agricultural Valuers adjusted as necessary by the local valuer to reflect the specific circumstances of the company. Net realisable value is based on estimated selling price, less any further costs of realisation.

Financial instruments
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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hanby Farms Limited (Registered number: 00407053)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Investments are included at cost. Profits or losses arising from disposals of fixed asset investments are treated as part of the result from ordinary activities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Land and Long to
Buildings leasehold property
£    £    £   
COST OR VALUATION
At 1 July 2023 1,556,145 14,854 13,166
Additions - - -
At 30 June 2024 1,556,145 14,854 13,166
DEPRECIATION
At 1 July 2023 326,132 14,854 12,745
Charge for year 30,049 - 84
Revaluation adjustments - - -
At 30 June 2024 356,181 14,854 12,829
NET BOOK VALUE
At 30 June 2024 1,199,964 - 337
At 30 June 2023 1,230,013 - 421

Plant and Computer
machinery equipment Totals
£    £    £   
COST OR VALUATION
At 1 July 2023 1,007,814 3,438 2,595,417
Additions 31,204 - 31,204
At 30 June 2024 1,039,018 3,438 2,626,621
DEPRECIATION
At 1 July 2023 766,029 3,084 1,122,844
Charge for year 57,123 117 87,373
Revaluation adjustments (5,508 ) - (5,508 )
At 30 June 2024 817,644 3,201 1,204,709
NET BOOK VALUE
At 30 June 2024 221,374 237 1,421,912
At 30 June 2023 241,785 354 1,472,573

Hanby Farms Limited (Registered number: 00407053)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 June 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Cost 1,570,999 1,055,622 2,626,621

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST OR VALUATION
At 1 July 2023 51,600
Revaluations (51,600 )
At 30 June 2024 -
DEPRECIATION
At 1 July 2023 24,059
Charge for year 5,508
Revaluation adjustments (29,567 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 27,541

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023
and 30 June 2024 952
NET BOOK VALUE
At 30 June 2024 952
At 30 June 2023 952

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 37,642 46,354
Other debtors 8,360 17,551
46,002 63,905

Hanby Farms Limited (Registered number: 00407053)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 9,266
Trade creditors 9,675 10,614
Taxation and social security (546 ) 4,834
Other creditors 29,000 28,925
38,129 53,639

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 484,443 504,576
Other creditors 41,331 42,411
525,774 546,987

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 484,443 504,576

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
16,500 Ordinary £1 16,500 16,500

11. RESERVES
Fair
value
reserve
£   
At 1 July 2023
and 30 June 2024 9,211

12. ULTIMATE CONTROLLING PARTY

P Dobney is the ultimate controlling party as he controls 15,000 of the 16,500 issued share capital.