Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312025-05-192024-08-312025-05-192023-09-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.34falseTop fruit farmer38truetruefalse 4779823 2023-09-01 2024-08-31 4779823 2022-09-01 2023-08-31 4779823 2024-08-31 4779823 2023-08-31 4779823 c:CompanySecretary1 2023-09-01 2024-08-31 4779823 c:Director1 2023-09-01 2024-08-31 4779823 c:Director2 2023-09-01 2024-08-31 4779823 c:Director4 2023-09-01 2024-08-31 4779823 c:RegisteredOffice 2023-09-01 2024-08-31 4779823 d:Buildings 2023-09-01 2024-08-31 4779823 d:Buildings 2024-08-31 4779823 d:Buildings 2023-08-31 4779823 d:Buildings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 4779823 d:PlantMachinery 2023-09-01 2024-08-31 4779823 d:PlantMachinery 2024-08-31 4779823 d:PlantMachinery 2023-08-31 4779823 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 4779823 d:FurnitureFittings 2023-09-01 2024-08-31 4779823 d:FurnitureFittings 2024-08-31 4779823 d:FurnitureFittings 2023-08-31 4779823 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 4779823 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 4779823 d:PatentsTrademarksLicencesConcessionsSimilar 2024-08-31 4779823 d:PatentsTrademarksLicencesConcessionsSimilar 2023-08-31 4779823 d:FreeholdInvestmentProperty 2024-08-31 4779823 d:FreeholdInvestmentProperty 2023-08-31 4779823 d:FreeholdInvestmentProperty 2 2023-09-01 2024-08-31 4779823 d:CurrentFinancialInstruments 2024-08-31 4779823 d:CurrentFinancialInstruments 2023-08-31 4779823 d:Non-currentFinancialInstruments 2024-08-31 4779823 d:Non-currentFinancialInstruments 2023-08-31 4779823 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 4779823 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 4779823 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 4779823 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 4779823 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-08-31 4779823 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 4779823 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-08-31 4779823 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 4779823 d:ShareCapital 2024-08-31 4779823 d:ShareCapital 2023-08-31 4779823 d:SharePremium 2023-09-01 2024-08-31 4779823 d:SharePremium 2024-08-31 4779823 d:SharePremium 2023-08-31 4779823 d:RevaluationReserve 2023-09-01 2024-08-31 4779823 d:InvestmentPropertiesRevaluationReserve 2024-08-31 4779823 d:InvestmentPropertiesRevaluationReserve 2023-08-31 4779823 d:RetainedEarningsAccumulatedLosses 2024-08-31 4779823 d:RetainedEarningsAccumulatedLosses 2023-08-31 4779823 c:FRS102 2023-09-01 2024-08-31 4779823 c:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 4779823 c:FullAccounts 2023-09-01 2024-08-31 4779823 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 4779823 d:HirePurchaseContracts d:WithinOneYear 2024-08-31 4779823 d:HirePurchaseContracts d:WithinOneYear 2023-08-31 4779823 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-08-31 4779823 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-08-31 4779823 2 2023-09-01 2024-08-31 4779823 d:AcceleratedTaxDepreciationDeferredTax 2024-08-31 4779823 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 4779823 d:TaxLossesCarry-forwardsDeferredTax 2024-08-31 4779823 d:TaxLossesCarry-forwardsDeferredTax 2023-08-31 4779823 d:OtherDeferredTax 2024-08-31 4779823 d:OtherDeferredTax 2023-08-31 4779823 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-08-31 4779823 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-08-31 4779823 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-09-01 2024-08-31 4779823 f:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 4779823









GREAT CHEVENEY FARM LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
GREAT CHEVENEY FARM LIMITED
 
 
COMPANY INFORMATION


Directors
Miss C E Day 
Mrs L Day 
Miss C L Day 




Company secretary
Mrs L J Day



Registered number
4779823



Registered office
Hearts of Oak House
Pembroke Road

Sevenoaks

Kent

TN13 1XR




Accountants
Creasey Son & Wickenden
Chartered Accountants

Hearts of Oak House

4 Pembroke Road

Sevenoaks

Kent

TN13 1XR





 
GREAT CHEVENEY FARM LIMITED
 

CONTENTS



Page
Accountants' report
 
1
Balance sheet
 
2 - 3
Notes to the financial statements
 
4 - 16


 
GREAT CHEVENEY FARM LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GREAT CHEVENEY FARM LIMITED
FOR THE YEAR ENDED 31 AUGUST 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Great Cheveney Farm Limited for the year ended 31 August 2024 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Great Cheveney Farm Limited, as a body, in accordance with the terms of our engagement letter dated 22 February 2018Our work has been undertaken solely to prepare for your approval the financial statements of Great Cheveney Farm Limited  and state those matters that we have agreed to state to the Board of directors of Great Cheveney Farm Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Great Cheveney Farm Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Great Cheveney Farm Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Great Cheveney Farm Limited. You consider that Great Cheveney Farm Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Great Cheveney Farm Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Creasey Son & Wickenden
 
Chartered Accountants
  
Hearts of Oak House
4 Pembroke Road
Sevenoaks
Kent
TN13 1XR
19 May 2025
Page 1

 
GREAT CHEVENEY FARM LIMITED
REGISTERED NUMBER: 4779823

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
450

Tangible assets
 5 
4,357,442
4,640,339

Investments
 7 
10,110
10,110

Investment property
 8 
3,629,961
3,432,587

  
7,997,513
8,083,486

Current assets
  

Stocks
  
542,032
514,130

Debtors: amounts falling due within one year
 9 
336,818
145,503

Cash at bank and in hand
 10 
8,837
33,940

  
887,687
693,573

Creditors: amounts falling due within one year
 11 
(843,705)
(909,261)

Net current assets/(liabilities)
  
 
 
43,982
 
 
(215,688)

Total assets less current liabilities
  
8,041,495
7,867,798

Creditors: amounts falling due after more than one year
 12 
(449,694)
(659,077)

Provisions for liabilities
  

Deferred tax
 15 
(764,365)
(749,273)

  
 
 
(764,365)
 
 
(749,273)

Net assets
  
6,827,436
6,459,448


Capital and reserves
  

Called up share capital 
  
100
100

Share premium account
 16 
943,918
943,918

Investment property reserve
 16 
487,990
487,990

Profit and loss account
 16 
5,395,428
5,027,440

  
6,827,436
6,459,448


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.

Page 2

 
GREAT CHEVENEY FARM LIMITED
REGISTERED NUMBER: 4779823
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

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 statement of comprehensive income 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 on 19 May 2025.




Miss C E Day
Director

The notes on pages 4 to 16 form part of these financial statements.

Page 3

 
GREAT CHEVENEY FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Great Cheveney Farm Limited ("the company") is a limited liability company limited by share, domiciled and incorporated in England and Wales. The address of its registered office is Hearts of Oak House, 4 Pembroke Road, Sevenoaks, Kent, TN13 1XR. The principal place of business is Great Cheveney Farm, Marden, Tonbridge, Kent, TN12 9LX.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

These financial statements are prepared and presented in pound sterling. Values are rounded to the nearest £1. They present information for this company alone.

The following principal accounting policies have been applied:

 
2.2

Revenue

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.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

Page 4

 
GREAT CHEVENEY FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.4

Interest income

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

 
2.5

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.

 
2.6

Borrowing costs

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

 
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 Balance sheet. 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 balance sheet 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 balance sheet 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 balance sheet date.


Page 5

 
GREAT CHEVENEY FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
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.

 
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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold land and buildings
-
4-15% straight line on buildings only
Plant, machinery and orchards
-
4-33.3% straight line
Furniture, fixtures and fittings
-
25% Straight line or 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 profit or loss.

  
2.11

Biological assets and agricultural produce

The company applies the cost model in relation to biological assets and agricultural produce. Biological assets including apple trees are measured at cost less impairment. At the point of harvest, agricultural produce is measured at the lower of cost and estimated selling price less costs to sell.

 
2.12

Investment property

Investment property is carried at fair value determined annually by external valuers 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 profit or loss.

Page 6

 
GREAT CHEVENEY FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.13

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.14

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet 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.

 
2.15

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.

 
2.16

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.

 
2.17

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.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Management
3
3



Packhouse
-
12



Students
21
13



Farm workers
10
10

34
38

Page 7

 
GREAT CHEVENEY FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Intangible assets




Entitlements

£



Cost


At 1 September 2023
1,500



At 31 August 2024

1,500



Amortisation


At 1 September 2023
1,050


Charge for the year on owned assets
450



At 31 August 2024

1,500



Net book value



At 31 August 2024
-



At 31 August 2023
450



Page 8

 
GREAT CHEVENEY FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Tangible fixed assets





Freehold land and buildings
Plant, machinery and orchards
Furniture, fixtures and fittings
Total

£
£
£
£



Cost 


At 1 September 2023
4,004,380
3,693,456
161,808
7,859,644


Additions
5,250
77,681
2,083
85,014


Disposals
-
(30,356)
(9,230)
(39,586)



At 31 August 2024

4,009,630
3,740,781
154,661
7,905,072



Depreciation


At 1 September 2023
1,478,979
1,617,845
122,481
3,219,305


Charge for the year on owned assets
173,073
181,681
7,295
362,049


Disposals
-
(24,494)
(9,230)
(33,724)



At 31 August 2024

1,652,052
1,775,032
120,546
3,547,630



Net book value



At 31 August 2024
2,357,578
1,965,749
34,115
4,357,442



At 31 August 2023
2,525,401
2,075,611
39,327
4,640,339

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
124,712
147,044



Page 9

 
GREAT CHEVENEY FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Biological assets

Biological assets are classified in two places in the financial statements: 1) The fruit bearing trees and any associated work are recorded within tangible fixed assets under 'plant, machinery and orchards'; 2) The husbandry costs in respect of each annual crop are recorded within current assets under 'stock'.

Mature trees
Immature trees
Total
        £
        £
        £

Biological assets within fixed assets

961,033

406,595

1,367,628
 
Biological assets within current assets

478,236

-

478,236
 
Biological assets as at 31 August 2023

1,439,269

406,595

1,845,864
 

Reclassification of trees

406,595

(406,595)

-
 
Growing costs

2,444,782

61,191

2,505,973
 
Agricultural produce transferred to stock

(2,409,522)

-

(2,409,522)
 
Depreciation

(130,634)

-

(130,634)
 
Biological assets as at 31 August 2024

1,750,490

61,191

1,811,681
 

Represented by:

Biological assets within fixed assets

1,236,994

61,191

1,298,185
 
Biological assets within current assets

513,496

-

513,496
 

1,750,490

61,191

1,811,681
 


7.


Fixed asset investments





Investments in associates
Loans to associates
Total

£
£
£



Cost or valuation


At 1 September 2023
60
10,050
10,110



At 31 August 2024
60
10,050
10,110




Page 10

 
GREAT CHEVENEY FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

8.


Investment property


Freehold investment property

£



Valuation


At 1 September 2023
3,432,587


Surplus on revaluation
197,374



At 31 August 2024
3,629,961

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



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
2,014,525
2,014,525


9.


Debtors

2024
2023
£
£


Trade debtors
17,184
13,558

Amounts owed by group undertakings
139,703
1,124

Other debtors
24,494
14,556

Prepayments and accrued income
155,437
116,265

336,818
145,503



10.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
8,837
33,940

Less: bank overdrafts
(220,387)
(213,762)

(211,550)
(179,822)


Page 11

 
GREAT CHEVENEY FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

11.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
220,387
213,762

Bank loans
77,685
163,753

Other loans
64,591
83,783

Trade creditors
217,870
117,765

Amounts owed to group undertakings
-
50,403

Corporation tax
115,350
8,894

Other taxation and social security
15,091
10,971

Obligations under finance lease and hire purchase contracts
43,203
40,052

Other creditors
4,680
170,255

Accruals and deferred income
84,848
49,623

843,705
909,261


The following liabilities were secured:

2024
2023
£
£



Bank loans
77,685
163,753

Other loans
64,591
83,783

Obligations under finance lease and hire purchase contracts
43,203
40,052

185,479
287,588

Details of security provided:

The bank loans and other loans are secured by way of a fixed and floating charge over all assets of the company. 
The obligations under finance lease and hire purchase contracts are secured on the assets to which they relate to.

Page 12

 
GREAT CHEVENEY FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

12.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
221,028
296,966

Other loans
3,305
67,793

Net obligations under finance leases and hire purchase contracts
41,253
84,455

Accruals and deferred income
184,108
209,863

449,694
659,077


The following liabilities were secured:

2024
2023
£
£



Bank loans
221,028
296,966

Other loans
3,305
67,783

Obligations under finance leases and hire purchase contracts
41,253
84,455

265,586
449,204

Details of security provided:

The bank loans and other loans are secured by way of a fixed and floating charge over all assets of the company. 
The obligations under finance lease and hire purchase contracts are secured on the assets to which they relate to.

Page 13

 
GREAT CHEVENEY FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

13.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
77,685
163,753

Other loans
64,591
83,783


142,276
247,536

Amounts falling due 1-2 years

Bank loans
84,226
84,226

Other loans
3,305
64,591


87,531
148,817

Amounts falling due 2-5 years

Bank loans
136,802
212,740

Other loans
-
3,202


136,802
215,942


366,609
612,295



14.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
43,203
40,052

Between 1-5 years
41,253
84,455

84,456
124,507

Page 14

 
GREAT CHEVENEY FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

15.


Deferred taxation




2024


£






At beginning of year
(749,273)


Charged to profit or loss
(15,092)



At end of year
(764,365)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(385,823)
(420,074)

Tax losses carried forward
25,316
25,316

Unrealised revaluations
(403,858)
(354,515)

(764,365)
(749,273)


16.


Reserves

Share premium account

This reserve records the amount above the nominal value received for shares issued at a premium to their nominal value, less transaction costs.

Revaluation reserve

This reserve represents the revaluation movement before the adoption of FRS 102.


17.


Contingent liabilities

The directors have signed a Guarantee in favour for HSBC UK Bank PLC on the debts of Prime Produce Limited, a company in which this company has a 50% interest, up to a maximum of £650,000.

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GREAT CHEVENEY FARM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

18.


Related party transactions

At the current and previous year end, the company had related party balances of:

Amounts owed from related parties
Amounts owed to related parties
£
£

Entities with significant control over entity
2024
1,124
-
2023
1,124
-
Entities over which the entity has significant control
2024
148,630
-
2023
-
40,353

At the year end a director owed the company £9,383 which is interest free and due on demand.


19.


Controlling party

The company is controlled by its parent company, Brian H Day Limited. The registered office of the parent company is Hearts of Oak House, 4 Pembroke Road, Sevenoaks, Kent, TN13 1XR. Copies of the parent company's accounts can be obtained from Companies House, Crown Way, Maindy, Cardiff, CF4 3UZ.

 
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