IRIS Accounts Production v24.3.2.46 04258026 director 6.4.23 5.4.24 5.4.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh042580262023-04-05042580262024-04-05042580262023-04-062024-04-05042580262022-04-05042580262022-04-062023-04-05042580262023-04-0504258026ns15:EnglandWales2023-04-062024-04-0504258026ns14:PoundSterling2023-04-062024-04-0504258026ns10:Director12023-04-062024-04-0504258026ns10:PrivateLimitedCompanyLtd2023-04-062024-04-0504258026ns10:SmallEntities2023-04-062024-04-0504258026ns10:AuditExempt-NoAccountantsReport2023-04-062024-04-0504258026ns10:SmallCompaniesRegimeForDirectorsReport2023-04-062024-04-0504258026ns10:SmallCompaniesRegimeForAccounts2023-04-062024-04-0504258026ns10:FullAccounts2023-04-062024-04-050425802612023-04-062024-04-0504258026ns10:RegisteredOffice2023-04-062024-04-0504258026ns5:CurrentFinancialInstruments2024-04-0504258026ns5:CurrentFinancialInstruments2023-04-0504258026ns5:Non-currentFinancialInstruments2024-04-0504258026ns5:Non-currentFinancialInstruments2023-04-0504258026ns5:ShareCapital2024-04-0504258026ns5:ShareCapital2023-04-0504258026ns5:RevaluationReserve2024-04-0504258026ns5:RevaluationReserve2023-04-0504258026ns5:CapitalRedemptionReserve2024-04-0504258026ns5:CapitalRedemptionReserve2023-04-0504258026ns5:RetainedEarningsAccumulatedLosses2024-04-0504258026ns5:RetainedEarningsAccumulatedLosses2023-04-0504258026ns5:IntangibleAssetsOtherThanGoodwill2023-04-062024-04-0504258026ns5:PlantMachinery2023-04-062024-04-0504258026ns5:MotorVehicles2023-04-062024-04-0504258026ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-04-0504258026ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-04-0504258026ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-04-0504258026ns5:LandBuildings2023-04-0504258026ns5:PlantMachinery2023-04-0504258026ns5:MotorVehicles2023-04-0504258026ns5:LandBuildings2023-04-062024-04-0504258026ns5:LandBuildings2024-04-0504258026ns5:PlantMachinery2024-04-0504258026ns5:MotorVehicles2024-04-0504258026ns5:LandBuildings2023-04-0504258026ns5:PlantMachinery2023-04-0504258026ns5:MotorVehicles2023-04-0504258026ns5:CostValuation2023-04-0504258026ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-0504258026ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-0504258026ns5:Secured2024-04-0504258026ns5:Secured2023-04-0504258026ns5:RevaluationReserve2023-04-05
REGISTERED NUMBER: 04258026 (England and Wales)













Unaudited Financial Statements

for the Year Ended 5 April 2024

for

Bashfarms Limited

Bashfarms Limited (Registered number: 04258026)






Contents of the Financial Statements
for the Year Ended 5 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bashfarms Limited

Company Information
for the Year Ended 5 April 2024







DIRECTOR: H Massingberd-Mundy



REGISTERED OFFICE: Clapgate Farm
Ashby Puerorum
Horncastle
Lincolnshire
LN9 6QU



REGISTERED NUMBER: 04258026 (England and Wales)



ACCOUNTANTS: A C Mole LLP
Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX



BANKERS: Yorkshire Bank Plc
8 Guildhall Street
Lincoln
Lincolnshire
LN1 1TT

Bashfarms Limited (Registered number: 04258026)

Balance Sheet
5 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,745,522 3,149,406
Investments 6 100 100
3,745,622 3,149,506

CURRENT ASSETS
Stocks 145,973 281,632
Debtors 7 1,551,105 873,685
Cash at bank 3,054 3,810
1,700,132 1,159,127
CREDITORS
Amounts falling due within one year 8 1,381,529 619,182
NET CURRENT ASSETS 318,603 539,945
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,064,225

3,689,451

CREDITORS
Amounts falling due after more than one
year

9

(2,124,241

)

(1,816,310

)

PROVISIONS FOR LIABILITIES (41,222 ) -
NET ASSETS 1,898,762 1,873,141

CAPITAL AND RESERVES
Called up share capital 50 50
Revaluation reserve 11 1,695,829 1,695,829
Capital redemption reserve 50 50
Retained earnings 202,833 177,212
1,898,762 1,873,141

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Bashfarms Limited (Registered number: 04258026)

Balance Sheet - continued
5 April 2024


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 director and authorised for issue on 28 February 2025 and were signed by:





H Massingberd-Mundy - Director


Bashfarms Limited (Registered number: 04258026)

Notes to the Financial Statements
for the Year Ended 5 April 2024

1. STATUTORY INFORMATION

Bashfarms 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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of the option.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance and 10% on reducing balance
Motor vehicles - 25% on reducing balance

The freehold property and land from which the company operates has been valued at cost and is not depreciated as it is considered that the residual value of the property and land is in excess of its cost and therefore, in accordance with FRS102, there is no depreciable amount. Annual impairment reviews are undertaken in respect of this respect of this property and land to ensure its carrying value can be supported.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Bashfarms Limited (Registered number: 04258026)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024

2. ACCOUNTING POLICIES - continued

Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 6 April 2023
and 5 April 2024 82,798
AMORTISATION
At 6 April 2023
and 5 April 2024 82,798
NET BOOK VALUE
At 5 April 2024 -
At 5 April 2023 -

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 6 April 2023 2,570,079 1,207,145 35,449 3,812,673
Additions 703,625 163,835 - 867,460
Disposals - (142,050 ) (14,350 ) (156,400 )
At 5 April 2024 3,273,704 1,228,930 21,099 4,523,733
DEPRECIATION
At 6 April 2023 - 653,291 9,976 663,267
Charge for year - 138,318 3,379 141,697
Eliminated on disposal - (24,361 ) (2,392 ) (26,753 )
At 5 April 2024 - 767,248 10,963 778,211
NET BOOK VALUE
At 5 April 2024 3,273,704 461,682 10,136 3,745,522
At 5 April 2023 2,570,079 553,854 25,473 3,149,406

Bashfarms Limited (Registered number: 04258026)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 6 April 2023
and 5 April 2024 100
NET BOOK VALUE
At 5 April 2024 100
At 5 April 2023 100

The investment represents a 100% shareholding of the subsidiary company, Cottam Farming Company Limited. The registered office of the company is The Maltings, 11-15 Brayford Wharf East, Lincoln, United Kingdom, LN5 7AY.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 691,954 422,069
Amounts owed by group undertakings 367,712 367,712
Other debtors 491,439 83,904
1,551,105 873,685

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 968,016 360,122
Hire purchase contracts 130,756 83,673
Trade creditors 225,391 125,802
Taxation and social security 49,164 9,244
Other creditors 8,202 40,341
1,381,529 619,182

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 1,501,105 1,644,400
Hire purchase contracts 199,422 171,910
Other creditors 423,714 -
2,124,241 1,816,310

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 1,136,078 -

Bashfarms Limited (Registered number: 04258026)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans and overdrafts 1,926,303 1,644,400
Hire purchase 330,178 255,583
2,256,481 1,899,983

Bank loans and overdrafts liabilities are secured on the assets of the company. Hire purchase liability is secured on the assets concerned.

11. RESERVES
Revaluation
reserve
£   
At 6 April 2023
and 5 April 2024 1,695,829