Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302023-04-0132No description of principal activityfalse30falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10477204 2023-04-01 2024-06-30 10477204 c:KeyManagementIndividualGroup1 c:OtherTransactionType1 2023-04-01 2024-06-30 10477204 c:KeyManagementIndividualGroup2 c:OtherTransactionType2 2023-04-01 2024-06-30 10477204 2022-04-01 2023-03-31 10477204 2024-06-30 10477204 c:KeyManagementIndividualGroup2 c:OtherTransactionType2 2024-06-30 10477204 c:KeyManagementIndividualGroup1 c:OtherTransactionType1 2024-06-30 10477204 2023-03-31 10477204 d:Director1 2023-04-01 2024-06-30 10477204 c:Buildings 2023-04-01 2024-06-30 10477204 c:Buildings 2024-06-30 10477204 c:Buildings 2023-03-31 10477204 c:Buildings c:OwnedOrFreeholdAssets 2023-04-01 2024-06-30 10477204 c:PlantMachinery 2023-04-01 2024-06-30 10477204 c:PlantMachinery 2024-06-30 10477204 c:PlantMachinery 2023-03-31 10477204 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-04-01 2024-06-30 10477204 c:FurnitureFittings 2023-04-01 2024-06-30 10477204 c:FurnitureFittings 2024-06-30 10477204 c:FurnitureFittings 2023-03-31 10477204 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-01 2024-06-30 10477204 c:OwnedOrFreeholdAssets 2023-04-01 2024-06-30 10477204 c:Goodwill 2023-04-01 2024-06-30 10477204 c:Goodwill 2024-06-30 10477204 c:Goodwill 2023-03-31 10477204 c:CopyrightsPatentsTrademarksServiceOperatingRights 2024-06-30 10477204 c:CopyrightsPatentsTrademarksServiceOperatingRights 2023-03-31 10477204 c:OtherResidualIntangibleAssets 2023-04-01 2024-06-30 10477204 c:CurrentFinancialInstruments 2024-06-30 10477204 c:CurrentFinancialInstruments 2023-03-31 10477204 c:Non-currentFinancialInstruments 2024-06-30 10477204 c:Non-currentFinancialInstruments 2023-03-31 10477204 c:CurrentFinancialInstruments c:WithinOneYear 2024-06-30 10477204 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 10477204 c:Non-currentFinancialInstruments c:AfterOneYear 2024-06-30 10477204 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 10477204 c:ShareCapital 2024-06-30 10477204 c:ShareCapital 2023-03-31 10477204 c:SharePremium 2024-06-30 10477204 c:SharePremium 2023-03-31 10477204 c:RetainedEarningsAccumulatedLosses 2024-06-30 10477204 c:RetainedEarningsAccumulatedLosses 2023-03-31 10477204 d:FRS102 2023-04-01 2024-06-30 10477204 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-06-30 10477204 d:FullAccounts 2023-04-01 2024-06-30 10477204 d:PrivateLimitedCompanyLtd 2023-04-01 2024-06-30 10477204 2 2023-04-01 2024-06-30 10477204 6 2023-04-01 2024-06-30 10477204 c:Goodwill c:OwnedIntangibleAssets 2023-04-01 2024-06-30 10477204 c:CopyrightsPatentsTrademarksServiceOperatingRights c:OwnedIntangibleAssets 2023-04-01 2024-06-30 10477204 e:PoundSterling 2023-04-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 10477204










RE EVANS FARMS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2024

 
RE EVANS FARMS LIMITED
REGISTERED NUMBER: 10477204

BALANCE SHEET
AS AT 30 JUNE 2024

30 June
31 March
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
45,638
68,722

Tangible assets
 5 
18,326,579
18,142,912

Investments
 6 
191,857
191,857

  
18,564,074
18,403,491

Current assets
  

Stocks
  
1,416,912
1,989,898

Debtors: amounts falling due within one year
 7 
447,117
789,986

Cash at bank and in hand
  
89
-

  
1,864,118
2,779,884

Creditors: amounts falling due within one year
 8 
(1,751,348)
(2,413,064)

Net current assets
  
 
 
112,770
 
 
366,820

Total assets less current liabilities
  
18,676,844
18,770,311

Creditors: amounts falling due after more than one year
 9 
(18,234,516)
(16,401,291)

Provisions for liabilities
  

Deferred tax
  
-
(56,992)

Net assets
  
442,328
2,312,028


Capital and reserves
  

Called up share capital 
  
1,600,100
1,600,100

Share premium account
  
23,659
23,659

Profit and loss account
  
(1,181,431)
688,269

  
442,328
2,312,028


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 period 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.

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
Page 1

 
RE EVANS FARMS LIMITED
REGISTERED NUMBER: 10477204
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

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: 




................................................
Mr M A Harrod
Director

Date: 28 March 2025

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
RE EVANS FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

1.


General information

RE Evans Farms Limited (“the Company”) is a private company limited by shares incorporated in England and Wales under the Companies Act.
The registered number and address of the registered office is given in the company information. 
The functional and presentational currency of the Company is pounds sterling (£) and rounded to the nearest whole pound.

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

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon an improvement in the company's trading position and continued financial support from its directors and shareholders. The financial statements do not include any adjustments that would result if such support is not continuing.

 
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.
 
Page 3

 
RE EVANS FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.3
Revenue (continued)


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

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

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.

 
2.6

Borrowing costs

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

Page 4

 
RE EVANS FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the period 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.


 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years
BPS entitlements
-
5
years

Page 5

 
RE EVANS FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.9

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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:

Plant and machinery
-
3 to 10 years straight line
Fixtures and fittings
-
5 years 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.

Land and business assets have not been depreciated. 

  
2.10

Freehold property

The company does not depreciate freehold property. The directors are satisfied that the holding value
of the property is at least equal to its ultimate residual value. This treatment is contrary to the
Companies Act 2006, which states that fixed assets should be depreciated but is, in the opinion of
the directors, necessary in order to give a true and fair view of the financial position of the company.

 
2.11

Valuation of investments

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.

 
2.12

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.

Page 6

 
RE EVANS FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.13

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.

 
2.14

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.

 
2.15

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.

Page 7

 
RE EVANS FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
 
Page 8

 
RE EVANS FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.16
Financial instruments (continued)


Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the period was 30 (2023 - 32).

Page 9

 
RE EVANS FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

4.


Intangible assets






BPS entitlements
Goodwill
Total

£
£
£



Cost


At 1 April 2023
132,360
172,293
304,653



At 30 June 2024

132,360
172,293
304,653



Amortisation


At 1 April 2023
130,525
105,406
235,931


Charge for the period on owned assets
1,560
21,524
23,084



At 30 June 2024

132,085
126,930
259,015



Net book value



At 30 June 2024
275
45,363
45,638



At 31 March 2023
1,835
66,887
68,722



Page 10

 
RE EVANS FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

5.


Tangible fixed assets







Land and business assets
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost 


At 1 April 2023
15,952,497
3,255,615
31,076
19,239,188


Additions
361,724
434,848
13,814
810,386


Disposals
-
(351,400)
-
(351,400)



At 30 June 2024

16,314,221
3,339,063
44,890
19,698,174



Depreciation


At 1 April 2023
-
1,076,093
20,183
1,096,276


Charge for the period on owned assets
-
444,070
4,268
448,338


Disposals
-
(173,019)
-
(173,019)



At 30 June 2024

-
1,347,144
24,451
1,371,595



Net book value



At 30 June 2024
16,314,221
1,991,919
20,439
18,326,579



At 31 March 2023
15,952,497
2,179,522
10,893
18,142,912

Page 11

 
RE EVANS FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

6.


Fixed asset investments








Unlisted investments

£



Cost


At 1 April 2023
191,857



At 30 June 2024
191,857





7.


Debtors

30 June
31 March
2024
2023
£
£


Trade debtors
173,243
612,047

Other debtors
237,254
175,971

Prepayments and accrued income
36,620
1,968

447,117
789,986



8.


Creditors: Amounts falling due within one year

30 June
31 March
2024
2023
£
£

Bank overdrafts
680,137
495,692

Bank loans
162,447
528,687

Trade creditors
515,236
745,126

Other taxation and social security
28,766
145,721

Obligations under finance lease and hire purchase contracts
264,433
413,954

Other creditors
4,672
73,709

Accruals and deferred income
95,657
10,175

1,751,348
2,413,064


Bank overdrafts falling due within one year totalling £680,137 (2023: £495,692), bank loans falling due within one year totalling £162,447 (2023: £528,687) and obligations under finance leases and hire purchase contracts falling due within one year totalling £264,433 (2023: £413,954) are secured against the assets of the Company. 

Page 12

 
RE EVANS FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

9.


Creditors: Amounts falling due after more than one year

30 June
31 March
2024
2023
£
£

Bank loans
10,516,002
10,531,037

Net obligations under finance leases and hire purchase contracts
485,113
651,648

Other creditors
7,233,401
5,218,606

18,234,516
16,401,291


Bank loans falling due after more than one year totalling £10,516,002 (2023: £10,531,037) and net obligations under finance leases and hire purchase contracts falling due after more than one year totalling £485,113 (2023: £651,648) are secured against the assets of the Company. 


10.


Related party transactions

During the period transactions took place with Lifecrown Investments Limited, a Company that is under common control. RE Evans Farms Limited owed £6,492,245 (2023: £4,477,450) to Lifecrown Investments Limited at the balance sheet date, this balance is included within other creditors due in more than one year.
 
During the period transactions took place with Fenmarc Holdings Limited, a company that is under common control. RE Evans Farms Limited owed £741,156 (2023: £741,156) to Fenmarc Holdings Limited at the balance sheet date. This balance is included within other creditors due in more than one year. 
During the period the company loaned the directors £60,000. This balance is shown in other debtors.
All of these balances are unsecured and interest free.

 
Page 13