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REGISTERED NUMBER: 12553982 (England and Wales)










BHI Farming Limited

Financial Statements

for the Year Ended 30th September 2024






BHI Farming Limited (Registered number: 12553982)






Contents of the Financial Statements
for the Year Ended 30th September 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


BHI Farming Limited

Company Information
for the Year Ended 30th September 2024







DIRECTORS: B J Backhouse
J F Hart
J A Iles



SECRETARY: B J Backhouse



REGISTERED OFFICE: Glebe Farm
Hatherop
Cirencester
Gloucestershire
GL7 3NA



REGISTERED NUMBER: 12553982 (England and Wales)



ACCOUNTANTS: Woodward Hale
Chartered Accountants
38 Dollar Street
Cirencester
Gloucestershire
GL7 2AN



BANKERS: Lloyds Bank Plc
14 Castle Street
Cirencester
Gloucestershire
GL7 1QJ

BHI Farming Limited (Registered number: 12553982)

Balance Sheet
30th September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,171,384 1,141,976

CURRENT ASSETS
Stocks 5 46,603 38,940
Debtors 6 229,193 536,516
Investments 7 15 15
Cash at bank 76,411 26,721
352,222 602,192
CREDITORS
Amounts falling due within one year 8 481,021 690,117
NET CURRENT LIABILITIES (128,799 ) (87,925 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,042,585

1,054,051

CREDITORS
Amounts falling due after more than one
year

9

(774,681

)

(840,409

)

PROVISIONS FOR LIABILITIES (58,183 ) (44,461 )
NET ASSETS 209,721 169,181

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 209,421 168,881
SHAREHOLDERS' FUNDS 209,721 169,181

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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.

BHI Farming Limited (Registered number: 12553982)

Balance Sheet - continued
30th September 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14th April 2025 and were signed on its behalf by:




J F Hart - Director J A Iles - Director




B J Backhouse - Director


BHI Farming Limited (Registered number: 12553982)

Notes to the Financial Statements
for the Year Ended 30th September 2024

1. STATUTORY INFORMATION

BHI Farming 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.

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.
Plant and equipment - at variable rates on reducing balance
Tractors and machinery - at variable rates on reducing balance
Motor vehicles - at variable rates on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

BHI Farming Limited (Registered number: 12553982)

Notes to the Financial Statements - continued
for the Year Ended 30th September 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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Tractors
Plant and and Motor
equipment machinery vehicles Totals
£    £    £    £   
COST
At 1st October 2023 343,774 1,112,003 13,000 1,468,777
Additions 122,472 98,134 - 220,606
Disposals (24,350 ) (32,000 ) - (56,350 )
At 30th September 2024 441,896 1,178,137 13,000 1,633,033
DEPRECIATION
At 1st October 2023 89,823 231,586 5,392 326,801
Charge for year 41,130 107,746 483 149,359
Eliminated on disposal (8,431 ) (6,080 ) - (14,511 )
At 30th September 2024 122,522 333,252 5,875 461,649
NET BOOK VALUE
At 30th September 2024 319,374 844,885 7,125 1,171,384
At 30th September 2023 253,951 880,417 7,608 1,141,976

BHI Farming Limited (Registered number: 12553982)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Tractors
Plant and and
equipment machinery Totals
£    £    £   
COST
At 1st October 2023 60,000 853,503 913,503
Additions 46,730 98,134 144,864
At 30th September 2024 106,730 951,637 1,058,367
DEPRECIATION
At 1st October 2023 18,818 134,847 153,665
Charge for year 9,682 87,370 97,052
At 30th September 2024 28,500 222,217 250,717
NET BOOK VALUE
At 30th September 2024 78,230 729,420 807,650
At 30th September 2023 41,182 718,656 759,838

5. STOCKS
2024 2023
£    £   
Stocks 11,666 4,551
Work-in-progress 34,937 34,389
46,603 38,940

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 216,050 532,086
Accrued income 9,115 1,543
Prepayments 4,028 2,887
229,193 536,516

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Other 15 15

BHI Farming Limited (Registered number: 12553982)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 164,195 215,286
Trade creditors 299,112 464,882
Social security and other taxes 13,214 6,449
Accrued expenses 4,500 3,500
481,021 690,117

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Hire purchase contracts 128,469 194,197
South Farm Products Limited loan 215,404 215,404
H. F. Hart Limited loan 215,404 215,404
Park Farm Syndicate (Fairford) Limited
loan

215,404

215,404
774,681 840,409

10. RELATED PARTY DISCLOSURES

South Farm Products limited

A shareholder of the company


The company charged South Farm Products Limited £133,069 (£142,278 - 2023) for contract work during the period.

H.F Hart Limited

A shareholder of the company


The company charged H. F. Hart Limited £167,950 (£180,901- 2023) for contract work during the period.

Park Farm Syndicate(Fairford) Limited

A shareholder of the company


The company charged Park Farm Syndicate (Fairford) Limited £160,932 (£175,394 - 2023) for contract work during the period.