Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true202023-04-01falseNo description of principal activity20trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08771747 2023-04-01 2024-03-31 08771747 2022-04-01 2023-03-31 08771747 2024-03-31 08771747 2023-03-31 08771747 2022-04-01 08771747 c:Director1 2023-04-01 2024-03-31 08771747 d:Buildings 2023-04-01 2024-03-31 08771747 d:Buildings 2024-03-31 08771747 d:Buildings 2023-03-31 08771747 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08771747 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 08771747 d:PlantMachinery 2023-04-01 2024-03-31 08771747 d:PlantMachinery 2024-03-31 08771747 d:PlantMachinery 2023-03-31 08771747 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08771747 d:FurnitureFittings 2023-04-01 2024-03-31 08771747 d:FurnitureFittings 2024-03-31 08771747 d:FurnitureFittings 2023-03-31 08771747 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08771747 d:OfficeEquipment 2023-04-01 2024-03-31 08771747 d:OfficeEquipment 2024-03-31 08771747 d:OfficeEquipment 2023-03-31 08771747 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08771747 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 08771747 d:OtherPropertyPlantEquipment 2024-03-31 08771747 d:OtherPropertyPlantEquipment 2023-03-31 08771747 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08771747 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08771747 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 08771747 d:FreeholdInvestmentProperty 2024-03-31 08771747 d:FreeholdInvestmentProperty 2023-03-31 08771747 d:CurrentFinancialInstruments 2024-03-31 08771747 d:CurrentFinancialInstruments 2023-03-31 08771747 d:Non-currentFinancialInstruments 2024-03-31 08771747 d:Non-currentFinancialInstruments 2023-03-31 08771747 d:Non-currentFinancialInstruments 1 2024-03-31 08771747 d:Non-currentFinancialInstruments 1 2023-03-31 08771747 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08771747 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08771747 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 08771747 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 08771747 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 08771747 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 08771747 d:ShareCapital 2024-03-31 08771747 d:ShareCapital 2023-03-31 08771747 d:RevaluationReserve 2023-04-01 2024-03-31 08771747 d:RevaluationReserve 2024-03-31 08771747 d:RevaluationReserve 2023-03-31 08771747 d:OtherMiscellaneousReserve 2024-03-31 08771747 d:OtherMiscellaneousReserve 2023-03-31 08771747 d:RetainedEarningsAccumulatedLosses 2024-03-31 08771747 d:RetainedEarningsAccumulatedLosses 2023-03-31 08771747 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 08771747 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 08771747 c:OrdinaryShareClass1 2023-04-01 2024-03-31 08771747 c:OrdinaryShareClass1 2024-03-31 08771747 c:OrdinaryShareClass1 2023-03-31 08771747 c:PreferenceShareClass1 2023-04-01 2024-03-31 08771747 c:PreferenceShareClass1 2024-03-31 08771747 c:PreferenceShareClass1 2023-03-31 08771747 c:FRS102 2023-04-01 2024-03-31 08771747 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08771747 c:FullAccounts 2023-04-01 2024-03-31 08771747 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08771747 d:HirePurchaseContracts d:WithinOneYear 2024-03-31 08771747 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 08771747 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-03-31 08771747 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 08771747 5 2023-04-01 2024-03-31 08771747 6 2023-04-01 2024-03-31 08771747 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 08771747









BRYNKINALT FARMING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
BRYNKINALT FARMING LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BRYNKINALT FARMING LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Brynkinalt Farming Limited for the year ended 31 March 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Brynkinalt Farming Limited, as a body, in accordance with the terms of our engagement letter dated 26 August 2014Our work has been undertaken solely to prepare for your approval the financial statements of Brynkinalt Farming Limited and state those matters that we have agreed to state to the Board of directors of Brynkinalt Farming Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brynkinalt Farming Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Brynkinalt Farming Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Brynkinalt Farming Limited. You consider that Brynkinalt Farming Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Brynkinalt Farming Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



WR Partners
 
Chartered Accountants
  
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG
26 March 2025
Page 1

 
BRYNKINALT FARMING LIMITED
REGISTERED NUMBER: 08771747

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
  
63,981
17,260

Tangible assets
 4 
10,443,892
10,407,222

Investments
 5 
280,003
280,003

Investment property
 6 
11,387,500
11,172,500

  
22,175,376
21,876,985

Current assets
  

Stocks
  
1,573,982
3,355,363

Debtors: amounts falling due within one year
 7 
432,409
579,452

Bank and cash balances
  
490,245
540,821

  
2,496,636
4,475,636

Creditors: amounts falling due within one year
 8 
(4,517,679)
(5,028,015)

Net current liabilities
  
 
 
(2,021,043)
 
 
(552,379)

Total assets less current liabilities
  
20,154,333
21,324,606

Creditors: amounts falling due after more than one year
 9 
(3,213,972)
(4,410,270)

Provisions for liabilities
  

Deferred tax
 12 
(60,764)
(49,736)

  
 
 
(60,764)
 
 
(49,736)

Net assets
  
16,879,597
16,864,600


Capital and reserves
  

Called up share capital 
 14 
270,000
270,000

Revaluation reserve
 15 
3,972,594
3,972,594

Other reserves
 15 
14,000,000
14,000,000

Profit and loss account
 15 
(1,362,997)
(1,377,994)

  
16,879,597
16,864,600


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.

Page 2

 
BRYNKINALT FARMING LIMITED
REGISTERED NUMBER: 08771747
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 comprehensive income 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: 




The Hon. I.R. Hill-Trevor
Director

Date: 26 March 2025

The notes on pages 4 to 15 form part of these financial statements.

Page 3

 
BRYNKINALT FARMING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Brynkinalt Farming Limited (08771747), is a private company limited by shares, incorporated in England and Wales, with its registered office and principal place of business at The Estate Office, Brynkinalt Busienss Centre, Chirk, Wrexham, LL14 5NS. 

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 following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the Directors have reasonable expectations the Company has adequate reserves to continue to trade for the foreseeable future. Therefore, the Company continues to adopt the going concern basis in preparing the Accounts.

 
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.

 
2.4

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.

 
2.5

Borrowing costs

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

Page 4

 
BRYNKINALT FARMING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

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 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.

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 balance sheet date.


 
2.7

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, using the straight-line method.

Depreciation is provided on the following basis:

Farm Buildings
-
5% Straight line
Chattels
-
Not depreciated
Parlour machinery
-
10% Straight line
Fixtures and fittings
-
1% straight line
Computer equipment
-
33.3% Straight line
Other fixed assets
-
10-25% 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.

Page 5

 
BRYNKINALT FARMING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.9

Investment property

Investment property is carried at fair value determined annually by external valuers 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 profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

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

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

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 profit or loss.

 
2.12

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 6

 
BRYNKINALT FARMING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.13

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.

 
2.14

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.

 
2.15

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 20 (2023 - 20).

Page 7

 
BRYNKINALT FARMING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Freehold property
Parlour machinery
Fixtures and fittings
Office Equipment
Other fixed assets

£
£
£
£
£



Cost or valuation


At 1 April 2023
10,025,000
129,848
44,713
2
696,161


Additions
-
43,290
-
-
65,148


Disposals
-
-
-
-
(50,250)



At 31 March 2024

10,025,000
173,138
44,713
2
711,059



Depreciation


At 1 April 2023
-
50,855
894
-
436,753


Charge for the year on owned assets
-
23,808
447
-
47,263


Disposals
-
-
-
-
(50,000)



At 31 March 2024

-
74,663
1,341
-
434,016



Net book value



At 31 March 2024
10,025,000
98,475
43,372
2
277,043



At 31 March 2023
10,025,000
78,993
43,819
2
259,408
Page 8

 
BRYNKINALT FARMING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

           4.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 April 2023
10,895,724


Additions
108,438


Disposals
(50,250)



At 31 March 2024

10,953,912



Depreciation


At 1 April 2023
488,502


Charge for the year on owned assets
71,518


Disposals
(50,000)



At 31 March 2024

510,020



Net book value



At 31 March 2024
10,443,892



At 31 March 2023
10,407,222

Page 9

 
BRYNKINALT FARMING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

           4.Tangible fixed assets (continued)

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





Cost or valuation at 31 March 2024 is as follows:

Land and buildings
£


At cost
8,368,425
At valuation:

At 31 March 2023, valuations were made by IR Hill-Trevor MRICS (Director), on an open market value for existing use basis. 
1,656,575



10,025,000

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
8,368,425
8,368,425

Net book value
8,368,425
8,368,425

If the chattels had been included at market value rather than historic cost, the value included in the accounts would be substantially higher. The market value of these assets is difficult to estimate due to the nature of the antiques. 


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
280,003



At 31 March 2024
280,003




Page 10

 
BRYNKINALT FARMING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
11,172,500


Additions at cost
215,000



At 31 March 2024
11,387,500

The 2024 valuations were made by IR Hill-Trevor MRICS (Director), on an open market value for existing use basis.






Page 11

 
BRYNKINALT FARMING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Debtors

2024
2023
£
£


Trade debtors
24,712
322,118

Amounts owed by group undertakings
273,587
225,753

Other debtors
32,622
15,604

Prepayments and accrued income
101,488
15,977

432,409
579,452



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
130,874
67,120

Payments received on account
49,895
92,000

Trade creditors
217,961
147,666

Amounts owed to group undertakings
2,545,634
2,537,060

Corporation tax
-
105,975

Other taxation and social security
-
1,941

Obligations under finance lease and hire purchase contracts
42,128
14,225

Other creditors
546,961
248,335

Accruals and deferred income
984,226
1,813,693

4,517,679
5,028,015



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
3,189,267
4,390,002

Net obligations under finance leases and hire purchase contracts
14,705
10,268

Share capital treated as debt
10,000
10,000

3,213,972
4,410,270


Page 12

 
BRYNKINALT FARMING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
3,189,267
4,390,000

3,189,267
4,390,000

3,189,267
4,390,000



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
42,128
14,225

Between 1-5 years
14,705
10,268

56,833
24,493


12.


Deferred taxation




2024
2023


£

£






At beginning of year
(49,736)
175,010


Charged to profit or loss
(11,028)
(224,746)



At end of year
(60,764)
(49,736)

Page 13

 
BRYNKINALT FARMING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
12.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(60,764)
(49,736)

(60,764)
(49,736)


13.


Provisions










At 31 March 2024

Page 14

 
BRYNKINALT FARMING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

14.


Share capital

2024
2023
£
£
Shares classified as equity

Allotted, called up and fully paid



270,000 (2023 - 270,000) Ordinary shares of £1.00 each
270,000
270,000

2024
2023
£
£
Shares classified as debt

Allotted, called up and fully paid



10,000 (2023 - 10,000) Redeemable preference shares of £1.00 each
10,000
10,000



15.


Reserves

Revaluation reserve

No amount has been credited (2023: £366,133 credited) to the revaluation reserve during the year. The prior year adjustment related to the disposal of freehold property. 


16.


Related party transactions

Included within creditors due within one year is a balance due to a Trust which holds shares in the company. The balance due to the trust at the year end was £470,715 (2023: £183,202).

Page 15