Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-312024-07-31trueManaging potato store2023-08-01false22falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07832522 2023-08-01 2024-07-31 07832522 2022-08-01 2023-07-31 07832522 2024-07-31 07832522 2023-07-31 07832522 c:Director1 2023-08-01 2024-07-31 07832522 c:Director2 2023-08-01 2024-07-31 07832522 d:Buildings 2023-08-01 2024-07-31 07832522 d:Buildings 2024-07-31 07832522 d:Buildings 2023-07-31 07832522 d:Buildings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 07832522 d:PlantMachinery 2023-08-01 2024-07-31 07832522 d:PlantMachinery 2024-07-31 07832522 d:PlantMachinery 2023-07-31 07832522 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 07832522 d:FurnitureFittings 2023-08-01 2024-07-31 07832522 d:FurnitureFittings 2024-07-31 07832522 d:FurnitureFittings 2023-07-31 07832522 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 07832522 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 07832522 d:CurrentFinancialInstruments 2024-07-31 07832522 d:CurrentFinancialInstruments 2023-07-31 07832522 d:Non-currentFinancialInstruments 2024-07-31 07832522 d:Non-currentFinancialInstruments 2023-07-31 07832522 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 07832522 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 07832522 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 07832522 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 07832522 d:ShareCapital 2024-07-31 07832522 d:ShareCapital 2023-07-31 07832522 d:RetainedEarningsAccumulatedLosses 2024-07-31 07832522 d:RetainedEarningsAccumulatedLosses 2023-07-31 07832522 c:FRS102 2023-08-01 2024-07-31 07832522 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 07832522 c:FullAccounts 2023-08-01 2024-07-31 07832522 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 07832522 6 2023-08-01 2024-07-31 07832522 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure
                                                                                                                     Registered number:07832522












    

HOME FARM PARTNERS LIMITED


UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

 
HOME FARM PARTNERS LIMITED
REGISTERED NUMBER:07832522

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
669,810
696,381

Investments
 5 
20
20

  
669,830
696,401

Current assets
  

Debtors: amounts falling due within one year
 6 
14,755
30,431

Cash at bank and in hand
  
15,868
610

  
30,623
31,041

Creditors: amounts falling due within one year
 7 
(188,959)
(171,254)

Net current liabilities
  
 
 
(158,336)
 
 
(140,213)

Total assets less current liabilities
  
511,494
556,188

Creditors: amounts falling due after more than one year
 8 
(115,604)
(223,577)

Provisions for liabilities
  

Deferred tax
  
(21,788)
(13,590)

  
 
 
(21,788)
 
 
(13,590)

Net assets
  
374,102
319,021


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
373,102
318,021

  
374,102
319,021


Page 1

 
HOME FARM PARTNERS LIMITED
REGISTERED NUMBER:07832522
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 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: 




................................................
W J Hammond
................................................
A W Seaman
Director
Director


Date: 26 April 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
HOME FARM PARTNERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Home Farm Partners Limited is a company limited by shares incorporated in England & Wales, registered number 07832522. The address of the registered office is Summerhill House, 1 Sculthorpe Road, Fakenham, Norfolk, NR21 9HA.

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. The policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

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:

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.

 
2.3

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.

 
2.4

Borrowing costs

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

Page 3

 
HOME FARM PARTNERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

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.


 
2.6

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, as detailed below.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line (land nil depreciation)
Plant & machinery
-
10% reducing balance
Integral features
-
10% 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 profit or loss.

Page 4

 
HOME FARM PARTNERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.7

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 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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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 2 (2023 - 2).

Page 5

 
HOME FARM PARTNERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Freehold property
Plant & machinery
Integral features
Total

£
£
£
£



Cost or valuation


At 1 August 2023
676,702
408,461
113,404
1,198,567


Additions
-
3,750
-
3,750



At 31 July 2024

676,702
412,211
113,404
1,202,317



Depreciation


At 1 August 2023
148,822
275,003
78,361
502,186


Charge for the year on owned assets
13,096
13,721
3,504
30,321



At 31 July 2024

161,918
288,724
81,865
532,507



Net book value



At 31 July 2024
514,784
123,487
31,539
669,810



At 31 July 2023
527,880
133,458
35,043
696,381


5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 August 2023
20



At 31 July 2024
20




Page 6

 
HOME FARM PARTNERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Debtors

2024
2023
£
£


Trade debtors
14,755
2,742

Other debtors
-
27,689

14,755
30,431



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
106,313
89,027

Trade creditors
(2,687)
23,809

Corporation tax
11,604
-

Other taxation and social security
7,800
-

Other creditors
59,596
53,596

Accruals and deferred income
6,333
4,822

188,959
171,254



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
115,604
223,577

115,604
223,577


 
Page 7