Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-30falsetruefalse2023-10-01No description of principal activity77trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01210308 2023-10-01 2024-09-30 01210308 2022-10-01 2023-09-30 01210308 2024-09-30 01210308 2023-09-30 01210308 c:Director1 2023-10-01 2024-09-30 01210308 c:Director5 2023-10-01 2024-09-30 01210308 d:Buildings 2023-10-01 2024-09-30 01210308 d:Buildings 2024-09-30 01210308 d:Buildings 2023-09-30 01210308 d:Buildings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 01210308 d:PlantMachinery 2023-10-01 2024-09-30 01210308 d:PlantMachinery 2024-09-30 01210308 d:PlantMachinery 2023-09-30 01210308 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 01210308 d:MotorVehicles 2023-10-01 2024-09-30 01210308 d:MotorVehicles 2024-09-30 01210308 d:MotorVehicles 2023-09-30 01210308 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 01210308 d:FurnitureFittings 2023-10-01 2024-09-30 01210308 d:FurnitureFittings 2024-09-30 01210308 d:FurnitureFittings 2023-09-30 01210308 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 01210308 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 01210308 d:PatentsTrademarksLicencesConcessionsSimilar 2024-09-30 01210308 d:PatentsTrademarksLicencesConcessionsSimilar 2023-09-30 01210308 d:FreeholdInvestmentProperty 2024-09-30 01210308 d:FreeholdInvestmentProperty 2023-09-30 01210308 d:FreeholdInvestmentProperty 2 2023-10-01 2024-09-30 01210308 d:CurrentFinancialInstruments 2024-09-30 01210308 d:CurrentFinancialInstruments 2023-09-30 01210308 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 01210308 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 01210308 d:ShareCapital 2024-09-30 01210308 d:ShareCapital 2023-09-30 01210308 d:SharePremium 2024-09-30 01210308 d:SharePremium 2023-09-30 01210308 d:InvestmentPropertiesRevaluationReserve 2023-10-01 2024-09-30 01210308 d:InvestmentPropertiesRevaluationReserve 2024-09-30 01210308 d:InvestmentPropertiesRevaluationReserve 2023-09-30 01210308 d:OtherMiscellaneousReserve 2023-10-01 2024-09-30 01210308 d:OtherMiscellaneousReserve 2024-09-30 01210308 d:OtherMiscellaneousReserve 2023-09-30 01210308 d:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 01210308 d:RetainedEarningsAccumulatedLosses 2024-09-30 01210308 d:RetainedEarningsAccumulatedLosses 2023-09-30 01210308 c:OrdinaryShareClass1 2023-10-01 2024-09-30 01210308 c:OrdinaryShareClass1 2024-09-30 01210308 c:OrdinaryShareClass1 2023-09-30 01210308 c:FRS102 2023-10-01 2024-09-30 01210308 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 01210308 c:FullAccounts 2023-10-01 2024-09-30 01210308 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 01210308 d:WithinOneYear 2024-09-30 01210308 d:WithinOneYear 2023-09-30 01210308 2 2023-10-01 2024-09-30 01210308 6 2023-10-01 2024-09-30 01210308 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-10-01 2024-09-30 01210308 f:PoundSterling 2023-10-01 2024-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01210308










ALDBOROUGH FARMS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
ALDBOROUGH FARMS LIMITED
REGISTERED NUMBER: 01210308

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,023
1,534

Tangible assets
 5 
4,894,512
4,814,498

Investments
 6 
4,122,123
3,763,638

Investment property
 7 
1,000,000
1,095,000

  
10,017,658
9,674,670

Current assets
  

Stocks
  
680,624
594,951

Debtors: amounts falling due within one year
 8 
267,013
198,894

Current asset investments
 9 
506,181
298,369

Cash at bank and in hand
  
334,850
247,399

  
1,788,668
1,339,613

Creditors: amounts falling due within one year
 10 
(456,599)
(408,717)

Net current assets
  
 
 
1,332,069
 
 
930,896

Total assets less current liabilities
  
11,349,727
10,605,566

Provisions for liabilities
  

Deferred tax
  
(534,829)
(486,908)

  
 
 
(534,829)
 
 
(486,908)

Net assets
  
10,814,898
10,118,658


Capital and reserves
  

Called up share capital 
 11 
82,000
82,000

Share premium account
 12 
164,812
164,812

Investment property reserve
 12 
35,589
106,839

Other reserves
 12 
188,602
(11,564)

Profit and loss account
 12 
10,343,895
9,776,571

  
10,814,898
10,118,658


Page 1

 
ALDBOROUGH FARMS LIMITED
REGISTERED NUMBER: 01210308
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024

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.

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 income statement 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 J Hammond
................................................
Mr W J Hammond
Director
Director


Date: 31 March 2025

The notes on pages 3 to 14 form part of these financial statements.

Page 2

 
ALDBOROUGH FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Aldborough Farms Limited is a private company limited by shares and incorporated in England and Wales, registration number 01210308. The registered office is The Old Rectory, Aldborough, Norfolk, NR11 7NT.

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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the income statement within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
ALDBOROUGH FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Turnover

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

Sale of goods

Turnover 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 turnover 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

Turnover 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 turnover 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

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

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

 
2.6

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.

Page 4

 
ALDBOROUGH FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

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 reporting 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 reporting 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 reporting date.


 
2.9

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.

Page 5

 
ALDBOROUGH FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.10

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.

Land is not depreciated. Depreciation on other assets is changed so as to allocate the cost of assets over their estimated useful lives as follows:

Depreciation is provided on the following basis:

Land and freehold buildings
-
0% - 10% straight line
Plant & machinery
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures & fittings
-
15% reducing balance

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 income statement.

 
2.11

Investment property

Investment property is carried at fair value determined annually by the directors 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 the income statement.

 
2.12

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the income statement 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 reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the cost of purchase. 
At each reporting 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

 
ALDBOROUGH FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.14

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.

 
2.15

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.

 
2.16

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.

 
2.17

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.

Page 7

 
ALDBOROUGH FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.18

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.

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 7).

Page 8

 
ALDBOROUGH FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Intangible assets




Intangible assets

£



Cost


At 1 October 2023
10,220



At 30 September 2024

10,220



Amortisation


At 1 October 2023
8,686


Charge for the year on owned assets
511



At 30 September 2024

9,197



Net book value



At 30 September 2024
1,023



At 30 September 2023
1,534



Page 9
 


 
ALDBOROUGH FARMS LIMITED


 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


5.


Tangible fixed assets






Freehold property
Plant & machinery
Motor vehicles
Fixtures & fittings
Total

£
£
£
£
£



Cost or valuation


At 1 October 2023
4,094,571
1,834,904
82,323
110,270
6,122,068


Additions
161,333
215,870
-
-
377,203


Disposals
-
(161,000)
-
-
(161,000)



At 30 September 2024

4,255,904
1,889,774
82,323
110,270
6,338,271



Depreciation


At 1 October 2023
393,194
789,542
35,836
88,998
1,307,570


Charge for the year on owned assets
39,392
179,693
11,622
3,191
233,898


Disposals
-
(97,709)
-
-
(97,709)



At 30 September 2024

432,586
871,526
47,458
92,189
1,443,759



Net book value



At 30 September 2024
3,823,318
1,018,248
34,865
18,081
4,894,512



At 30 September 2023
3,701,377
1,045,362
46,487
21,272
4,814,498

Page 10
 
ALDBOROUGH FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Fixed asset investments





Listed investments
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 October 2023
3,750,913
12,725
3,763,638


Additions
598,024
-
598,024


Revaluations
259,555
-
259,555


Transfer between classes
(499,094)
-
(499,094)



At 30 September 2024
4,109,398
12,725
4,122,123




Page 11

 
ALDBOROUGH FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Investment property


Freehold investment property

£



Valuation


At 1 October 2023
1,095,000


Surplus on revaluation
(95,000)



At 30 September 2024
1,000,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.

2024
2023
£
£

Revaluation reserves


At 1 October 2023
106,839
106,839

Net deficit in movement properties
(71,250)
-

At 30 September 2024
35,589
106,839



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
972,245
972,245

Page 12

 
ALDBOROUGH FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Debtors

2024
2023
£
£


Trade debtors
26,952
39,519

Other debtors
45,490
33,267

Prepayments and accrued income
194,571
126,108

267,013
198,894



9.


Current asset investments

2024
2023
£
£

Listed investments
506,181
298,369



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
45,427
51,370

Corporation tax
201,199
99,501

Other taxation and social security
5,050
24,318

Other creditors
3,742
59,217

Accruals and deferred income
201,181
174,311

456,599
408,717



11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



82,000 (2023 - 82,000) Ordinary shares of £1.00 each
82,000
82,000


Page 13

 
ALDBOROUGH FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

12.


Reserves

Investment property revaluation reserve

The investment property revaluation reserve includes all current and prior period revaluations on investment properties where the fair value of an asset exceeded its original cost.

Other reserves

The listed investment revaluation reserve includes all current and prior period revaluations on listed investments where the fair value exceeded the original cost.

Profit & loss account

The profit and loss account includes all current and prior period retained profit and losses.


13.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £60,000 (2023 - £60,000).


14.


Commitments under operating leases

At 30 September 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
71,700
69,900


15.


Transactions with directors

The directors have loan accounts with the company. Interest has not been charged on these loans and
there are no fixed repayment terms. Included in other creditors are loans to the company from the directors of £3,742 (2023 - £59,217) and included within other debtors are loans to the directors of £39,525 (2023 - £Nil).


Page 14