4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 03198413 2023-10-01 2024-09-30 03198413 2024-09-30 03198413 2023-09-30 03198413 2022-10-01 2023-09-30 03198413 2023-09-30 03198413 2022-09-30 03198413 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03198413 core:PlantMachinery 2023-10-01 2024-09-30 03198413 core:FurnitureFittings 2023-10-01 2024-09-30 03198413 core:MotorVehicles 2023-10-01 2024-09-30 03198413 bus:Director1 2023-10-01 2024-09-30 03198413 bus:Director2 2023-10-01 2024-09-30 03198413 core:WithinOneYear 2024-09-30 03198413 core:WithinOneYear 2023-09-30 03198413 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 03198413 core:PlantMachinery 2023-09-30 03198413 core:FurnitureFittings 2023-09-30 03198413 core:MotorVehicles 2023-09-30 03198413 core:LandBuildings core:OwnedOrFreeholdAssets 2024-09-30 03198413 core:PlantMachinery 2024-09-30 03198413 core:FurnitureFittings 2024-09-30 03198413 core:MotorVehicles 2024-09-30 03198413 core:AfterOneYear 2024-09-30 03198413 core:AfterOneYear 2023-09-30 03198413 core:ShareCapital 2024-09-30 03198413 core:ShareCapital 2023-09-30 03198413 core:SharePremium 2024-09-30 03198413 core:SharePremium 2023-09-30 03198413 core:OtherReservesSubtotal 2024-09-30 03198413 core:OtherReservesSubtotal 2023-09-30 03198413 core:RetainedEarningsAccumulatedLosses 2024-09-30 03198413 core:RetainedEarningsAccumulatedLosses 2023-09-30 03198413 1 core:WithinOneYear 2024-09-30 03198413 1 core:WithinOneYear 2023-09-30 03198413 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 03198413 core:PlantMachinery 2023-09-30 03198413 core:FurnitureFittings 2023-09-30 03198413 core:MotorVehicles 2023-09-30 03198413 bus:SmallEntities 2023-10-01 2024-09-30 03198413 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 03198413 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 03198413 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 03198413 bus:FullAccounts 2023-10-01 2024-09-30
COMPANY REGISTRATION NUMBER: 03198413
Rookery Farm Limited
Unaudited financial statements
30 September 2024
Rookery Farm Limited
Statement of financial position
30 September 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
4,942,214
5,070,697
Current assets
Stocks
333,555
322,775
Debtors
6
108,708
159,328
Cash at bank and in hand
189,820
112,873
---------
---------
632,083
594,976
Creditors: Amounts falling due within one year
7
( 1,013,450)
( 1,041,905)
-----------
-----------
Net current liabilities
( 381,367)
( 446,929)
-----------
-----------
Total assets less current liabilities
4,560,847
4,623,768
Creditors: Amounts falling due after more than one year
8
( 856,821)
( 923,915)
Provisions
Taxation including deferred tax
( 28,305)
-----------
-----------
Net assets
3,675,721
3,699,853
-----------
-----------
Capital and reserves
Called up share capital
4,300
4,300
Share premium account
2,467,332
2,467,332
Other reserves
492,059
492,059
Profit and loss account
712,030
736,162
-----------
-----------
Shareholders funds
3,675,721
3,699,853
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Rookery Farm Limited
Statement of financial position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 8 May 2025 , and are signed on behalf of the board by:
Mr Russell Ling
Mrs Maureen Ling
Director
Director
Company registration number: 03198413
Rookery Farm Limited
Notes to the financial statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is The Rookery, Wortham, Diss, Norfolk, IP22 1RB, UK.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents the amount of goods and services provided during the year together with the movement in value of crops in store, exclusive of Value Added Tax.
Income tax
Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Storage Containers
-
1% straight line
Plant & Machinery
-
15% reducing balance
Office Equipment
-
25% reducing balance
Tractors and Vehciles
-
10% reducing balance
Freehold land is not depreciated. Improvements to property are depreciated at 15% reducing balance.
Stocks
Commodity stocks, livestock and cultivations are valued at the lower of cost and net realisable value by the directors, after making due allowance for obsolete and slow moving items. The valuation of crops in store, livestock and cultivations includes an element of depreciation.
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 4 (2023: 4 ).
5. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 October 2023
4,141,373
981,989
8,124
1,362,422
6,493,908
Additions
2,811
117,885
172,500
293,196
Disposals
( 110,506)
( 135,197)
( 255,300)
( 501,003)
-----------
---------
------
-----------
-----------
At 30 September 2024
4,033,678
964,677
8,124
1,279,622
6,286,101
-----------
---------
------
-----------
-----------
Depreciation
At 1 October 2023
494,956
539,265
5,906
383,084
1,423,211
Charge for the year
48,610
87,906
733
112,724
249,973
Disposals
( 105,846)
( 109,000)
( 114,451)
( 329,297)
-----------
---------
------
-----------
-----------
At 30 September 2024
437,720
518,171
6,639
381,357
1,343,887
-----------
---------
------
-----------
-----------
Carrying amount
At 30 September 2024
3,595,958
446,506
1,485
898,265
4,942,214
-----------
---------
------
-----------
-----------
At 30 September 2023
3,646,417
442,724
2,218
979,338
5,070,697
-----------
---------
------
-----------
-----------
6. Debtors
2024
2023
£
£
Trade debtors
74,927
126,334
Other debtors
33,781
32,994
---------
---------
108,708
159,328
---------
---------
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
122,271
106,069
Trade creditors
76,094
137,374
Accruals and deferred income
42,807
27,131
Social security and other taxes
1,064
960
Shares classed as financial liabilities
600,000
600,000
Obligations under finance leases and hire purchase contracts
133,742
148,359
Director loan accounts
37,472
22,012
-----------
-----------
1,013,450
1,041,905
-----------
-----------
The bank borrowings are secured on the assets of the company and the hire purchase agreements secured against the fixed assets to which they relate.
8. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
333,077
355,968
Other creditors
523,744
567,947
---------
---------
856,821
923,915
---------
---------
The bank borrowings are secured on the assets of the company and the hire purchase agreements secured against the fixed assets to which they relate.