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REGISTERED NUMBER: 03140055 (England and Wales)
















Unaudited Financial Statements for the Year Ended 30 September 2024

for

C. J. H. Farming Limited

C. J. H. Farming Limited (Registered number: 03140055)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


C. J. H. Farming Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: C J H Philpot
P J H Philpot
S A Thorneycroft
T H C Philpot





SECRETARY: Mrs A C Philpot





REGISTERED OFFICE: Boyton Hall Farmhouse
Boyton Cross
Chelmsford
Essex
CM1 4LN





REGISTERED NUMBER: 03140055 (England and Wales)





ACCOUNTANTS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

C. J. H. Farming Limited (Registered number: 03140055)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 17,600,603 17,751,178
Investment property 5 17,260,943 13,218,350
34,861,546 30,969,528

CURRENT ASSETS
Stocks 1,425,628 1,422,253
Debtors 6 526,559 456,085
Cash at bank and in hand 11,308 34,150
1,963,495 1,912,488
CREDITORS
Amounts falling due within one year 7 2,882,593 2,840,823
NET CURRENT LIABILITIES (919,098 ) (928,335 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,942,448

30,041,193

CREDITORS
Amounts falling due after more than one
year

8

(8,858,589

)

(9,510,719

)

PROVISIONS FOR LIABILITIES (4,063,709 ) (3,149,575 )
NET ASSETS 21,020,150 17,380,899

CAPITAL AND RESERVES
Called up share 10 30,000 30,000
Undistributable Profits 11,271,635 8,239,690
Retained earnings 9,718,515 9,111,209
SHAREHOLDERS' FUNDS 21,020,150 17,380,899

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

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

C. J. H. Farming Limited (Registered number: 03140055)

Balance Sheet - continued
30 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by:





C J H Philpot - Director


C. J. H. Farming Limited (Registered number: 03140055)

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

1. STATUTORY INFORMATION

C. J. H. 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 as modified by the revaluation of certain assets.

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.
Improvements to property - 15% on cost, 10% on cost and 4% on cost
Plant and machinery - 25% on cost, 15% on cost and 10% on cost

No depreciation is provided on freehold land or buildings. It is the company's policy to maintain these to a high standard and are in a continual state of repair. The useful economic life of these assets is thus so long and residual values so high that the directors estimate the charge would not be material. Annual impairment reviews are carried out to ensure that the carrying values of all properties are at not less than their market value.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

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 statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

C. J. H. Farming Limited (Registered number: 03140055)

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

2. ACCOUNTING POLICIES - continued

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.

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.

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.

Going concern
The company relies on the continued support of the bank who have provided an overdraft facility and long term loans. The directors are confident of the company's ability to repay bank borrowings and provide security to renew facilities when needed given the significant asset base. Accordingly, they continue to adopt the going concern basis in preparing the accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 20 ) .

C. J. H. Farming Limited (Registered number: 03140055)

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

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery Totals
£    £    £    £   
COST
At 1 October 2023 13,666,470 6,555,658 5,332,281 25,554,409
Additions - 303,214 241,849 545,063
Disposals - (1,077 ) (42,813 ) (43,890 )
At 30 September 2024 13,666,470 6,857,795 5,531,317 26,055,582
DEPRECIATION
At 1 October 2023 49,751 3,935,577 3,817,903 7,803,231
Charge for year - 315,095 379,466 694,561
Eliminated on disposal - - (42,813 ) (42,813 )
At 30 September 2024 49,751 4,250,672 4,154,556 8,454,979
NET BOOK VALUE
At 30 September 2024 13,616,719 2,607,123 1,376,761 17,600,603
At 30 September 2023 13,616,719 2,620,081 1,514,378 17,751,178

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 October 2023
and 30 September 2024 609,000
DEPRECIATION
At 1 October 2023 88,896
Charge for year 79,037
At 30 September 2024 167,933
NET BOOK VALUE
At 30 September 2024 441,067
At 30 September 2023 520,104

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 13,218,350
Revaluations 4,042,593
At 30 September 2024 17,260,943
NET BOOK VALUE
At 30 September 2024 17,260,943
At 30 September 2023 13,218,350

C. J. H. Farming Limited (Registered number: 03140055)

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

5. INVESTMENT PROPERTY - continued

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2011 392,000
Valuation in 2020 5,143,000
Valuation in 2021 2,196,500
Valuation in 2022 1,056,850
Valuation in 2023 2,000,000
Valuation in 2024 4,042,593
Cost 2,430,000
17,260,943

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 362,984 205,556
Due from related parties 48,294 18,977
VAT - 79,058
Prepayments and accrued income 115,281 152,494
526,559 456,085

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 577,449 728,133
Hire purchase contracts 134,330 134,330
Trade creditors 562,558 701,892
Tax 499,437 254,294
Social security and other taxes 40,217 46,680
VAT 603 -
Other creditors 358,532 293,814
Due to related parties 552,161 536,774
Accruals and deferred income 157,306 144,906
2,882,593 2,840,823

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans - 1-2 years 480,000 480,000
Due to parent undertaking 3,618,589 3,656,389
Bank loans - due in 2-5 years 910,000 1,390,000
Bank loans due in more than 5 years by
instalments

3,850,000

3,850,000
Hire purchase contracts - 134,330
8,858,589 9,510,719

C. J. H. Farming Limited (Registered number: 03140055)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.9.24 30.9.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans due in more than 5 years by
instalments

3,850,000

3,850,000

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank overdrafts 97,449 248,133
Bank loans 5,720,000 6,200,000
5,817,449 6,448,133

The bank loans are secured by a charge on certain freehold land and buildings owned by the Company and supported by guarantees provided by the parent company, CJH Holdings Limited.

10. CALLED UP SHARE

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
30,000 Ordinary £1 30,000 30,000