Company registration number 00431776 (England and Wales)
G H DEAN & CO. LIMITED
ALSO TRADING AS BLACKBIRD FARMING
Annual Report And Financial Statements
For The Period Ended 31 December 2023
G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Company Information
Directors
Mrs M A Davies
Ms A J Dean
Mr E G Doubleday
Mr O C Doubleday
Mr G L T Reutter
Mr T Malpas
(Appointed 31 March 2025)
Mr W P O English. CBE
(Appointed 9 December 2024)
Mr G E Loynes
(Appointed 9 December 2024)
Secretary
Ms J A Hadlow
Company number
00431776
Registered office
Hempstead Farm
Tonge
Sittingbourne
Kent
England
ME9 9BJ
Auditor
Chavereys Audit Limited
The Goods Shed
Jubilee Way
Faversham
Kent
England
ME13 8GD
G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Contents
Page
Strategic report
1 - 3
Directors' report
4
Directors' responsibilities statement
5
Independent auditor's report
6 - 8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Statement of cash flows
12
Notes to the financial statements
13 - 30
G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Strategic Report
For The Period Ended 31 December 2023
- 1 -

The directors present the strategic report for the Period ended 31 December 2023.

Principal activities

 

The principal activities of the company during the period were that of growing, storing and marketing of tree fruits and combinable crops along with the production and sale of lambs and the management of residential and commercial property. In addition to these revenue streams, the company continues to promote land for residential development, renewables and nature based solutions.

 

Business review

 

Top Fruit

 

Pears continue to crop reliably. Some older orchards having been grubbed but recently planted replacements will replace the lost yield in time.

 

The new Tutti apples will not yield marketable fruit until 2025. Further apple planting continues.

 

Cherries

 

Variable weather conditions make yield predictions challenging.

 

Arable

 

Rainfall has been unprecedented with some 203mm of rain falling between 1 March and 30 April 2023, compared to 52mm for the same period in 2022.

 

The 2022 harvest saw lower input prices. These have increased since then. However, the 2022 crop we are hopeful of an average crop with much more settled commodity prices.

 

Sheep

 

A successful lambing season. Creep feeding is becoming increasingly costly.

 

Rental

 

The residential portfolio continues to perform well. Commercial rents are relatively static and potential voids are an issue.

 

Land

 

Proceeds continue to be received from recent sales of development land. Promotion of land for residential use is ongoing.

Principal risks and uncertainties

 

Challenges persist in securing seasonal staff, with changes to UK regulation in this area and the loss of our previous labour provider’s licence. We are focusing on recruitment of seasonal staff with settled UK status where possible.

 

Increased input costs continue to impact farming margins.

 

The Basic Payment Scheme direct support payments are being phased out and uncertainties remain around the new Environmental Land Management. The Company can apply for the Sustainable Farming Incentive from 2025.

 

The impact of climate change poses challenges to the agricultural sector, including shifts in weather patterns, extreme events, and changing pest dynamics. Our investment in water management systems can help mitigate risks associated with climate variability. Proactively addressing climate-related challenges will contribute to the long-term viability of the farming enterprise.

 

G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Strategic Report (Continued)
For The Period Ended 31 December 2023
- 2 -
Financial key performance indicators

 

Management costings of every crop by enterprise are produced giving us an historic record of performance and allowing us to adjust our working practices to enhance the business’s financial performance. The financial management system is being overhauled to provide more comprehensive information to directors on a timely basis.

 

Arable

 

Yields are compared year on year and with other local farmers. Grain marketing data reviewed on a weekly basis informs us on market conditions and proves a useful gauge as and when to make sales.

 

Fruit

 

Historic crop yield data helps to provide future crop predictions. Harvest management costings help to understand the costs of production and where savings and improvements can be made.

 

Sheep

 

The annual flock health plan helps plan the year in order that the ewes are in good condition for tupping, an age profile determines the number to be culled/breeding sheep to be purchased. The timeliness of vaccinations and fly treatments to ensure good flock health are all encompassed by the plan which in turn has helped to improve our lambing percentage year on year.

 

Financial risk management

 

Price

 

For fruit we have long-term relationships with suppliers and customers through our involvement with our Producer Organisation and pre-season prices based on grade out are set.

 

Credit

 

We have solid relationships with our customers and have scheduled payments in place and deal with large established companies.

 

Liquidity

 

We have a good relationship with our bank and have an overdraft facility readily available.

 

Cashflow

 

We take payments on account, we utilise our overdraft facility and monthly cash management. We work constantly in an endeavour to reduce waste and costs.

 

 

Environment and Sustainability

 

Recognising the increasing emphasis on 'natural capital,' the company aligns with the transition towards environmentally focused agricultural practices, aiming to protect the environment and invest in new technology.

 

Future Developments

 

Ongoing efforts to realign orchards, positive outcomes from new apple varieties, and progress in numerous land promotion opportunities remain key focus areas. The company seeks to enhance farm facilities, particularly in hostel accommodation for seasonal labour during harvest.

 

G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Strategic Report (Continued)
For The Period Ended 31 December 2023
- 3 -

On behalf of the board

Mr E G Doubleday
Director
29 April 2025
G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Directors' Report
For The Period Ended 31 December 2023
- 4 -

The directors present their annual report and financial statements for the Period ended 31 December 2023.

Results and dividends

The results for the Period are set out on page 9.

Ordinary dividends were paid amounting to £919,123. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the Period and up to the date of signature of the financial statements were as follows:

Mr M W S Bax
(Resigned 31 December 2023)
Mrs M A Davies
Ms A J Dean
Mr E G Doubleday
Mr O C Doubleday
Mr G L T Reutter
Mr T Malpas
(Appointed 31 March 2025)
Mr W P O English. CBE
(Appointed 9 December 2024)
Mr G E Loynes
(Appointed 9 December 2024)
Future developments

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

Auditor

The auditor, Chavereys Audit Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr E G Doubleday
Director
21 May 2025
G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Directors' Responsibilities Statement
For The Period Ended 31 December 2023
- 5 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Independent Auditor's Report
To The Members Of G H Dean & Co. Limited
- 6 -
Opinion

We have audited the financial statements of G H Dean & Co. Limited (the 'company') for the Period ended 31 December 2023 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Independent Auditor's Report
To The Members Of G H Dean & Co. Limited (Continued)
- 7 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are detailed below:

The objectives of our audit include:

- to identify and assess the risks of material misstatement of the financial statements due to fraud or error;

- to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error;

- and to respond appropriately to those risks.

Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). This risk increased the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statement, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Independent Auditor's Report
To The Members Of G H Dean & Co. Limited (Continued)
- 8 -

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with law and regulations, our procedures including the following:

 

 

 

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Iain D Morris FCA (Senior Statutory Auditor)
For and on behalf of Chavereys Audit Limited, Statutory Auditor
Chartered Accountants
The Goods Shed
Jubilee Way
Faversham
Kent
ME13 8GD
England
21 May 2025
G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Statement Of Comprehensive Income
For The Period Ended 31 December 2023
- 9 -
Period
Period
ended
ended
31 December
10 May
2023
2023
Notes
£
£
Turnover
3
2,936,619
12,505,717
Cost of sales
(2,841,097)
(4,285,896)
Gross profit
95,522
8,219,821
Administrative expenses
(1,749,386)
(542,757)
Other operating income
870,898
470,657
Operating (loss)/profit
4
(782,966)
8,147,721
Interest receivable and similar income
7
35,659
8,812
Interest payable and similar expenses
8
(137,322)
(50,647)
Amounts written off investments
9
(1,161,172)
-
Fair value gains and losses on investment properties
14
-
0
(266,100)
(Loss)/profit before taxation
(2,045,801)
7,839,786
Tax on (loss)/profit
10
322,825
(1,593,225)
(Loss)/profit for the financial Period
(1,722,976)
6,246,561

The profit and loss account has been prepared on the basis that all operations are continuing operations.

G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Balance Sheet
As At 31 December 2023
- 10 -
31 December 2023
10 May 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
12
14,600,838
14,352,395
Biological assets
13
717,433
677,436
Investment property
14
21,981,928
23,143,100
Investments
15
30,610
30,610
37,330,809
38,203,541
Current assets
Stocks
17
3,878,788
2,959,146
Debtors
18
8,590,775
8,793,396
Cash at bank and in hand
658,313
10,067,781
13,127,876
21,820,323
Creditors: amounts falling due within one year
19
(2,854,513)
(7,556,878)
Net current assets
10,273,363
14,263,445
Total assets less current liabilities
47,604,172
52,466,986
Creditors: amounts falling due after more than one year
20
-
0
(1,744,839)
Provisions for liabilities
Deferred tax liability
23
4,536,457
5,012,333
(4,536,457)
(5,012,333)
Net assets
43,067,715
45,709,814
Capital and reserves
Called up share capital
25
42,695
42,695
Own shares
652
652
Profit and loss reserves
43,024,368
45,666,467
Total equity
43,067,715
45,709,814

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 21 May 2025 and are signed on its behalf by:
Mr E G Doubleday
Director
Company registration number 00431776 (England and Wales)
G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Statement Of Changes In Equity
For The Period Ended 31 December 2023
- 11 -
Share capital
Own shares
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2023
42,695
652
40,188,424
40,231,771
Period ended 10 May 2023:
Profit and total comprehensive income
-
-
6,246,561
6,246,561
Dividends
11
-
-
(768,518)
(768,518)
Balance at 10 May 2023
42,695
652
45,666,467
45,709,814
Period ended 31 December 2023:
Loss and total comprehensive income
-
-
(1,722,976)
(1,722,976)
Dividends
11
-
-
(919,123)
(919,123)
Balance at 31 December 2023
42,695
652
43,024,368
43,067,715
G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Statement Of Cash Flows
For The Period Ended 31 December 2023
- 12 -
2023
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
28
(4,420,915)
14,138,871
Interest paid
(137,322)
(50,647)
Income taxes paid
(1,477,443)
(665,000)
Net cash (outflow)/inflow from operating activities
(6,035,680)
13,423,224
Investing activities
Purchase of tangible fixed assets
(714,981)
(29,622)
Proceeds from disposal of tangible fixed assets
107,000
366,822
Purchase of biological assets
(70,850)
(25,895)
Proceeds from disposal of biological assets
5,370
31,980
Proceeds from disposal of investment property
-
0
344,330
Interest received
35,634
8,812
Dividends received
25
-
0
Net cash (used in)/generated from investing activities
(637,802)
696,427
Financing activities
Repayment of bank loans
(1,715,388)
(2,613,097)
Payment of finance leases obligations
(101,475)
(16,913)
Dividends paid
(919,123)
(768,518)
Net cash used in financing activities
(2,735,986)
(3,398,528)
Net (decrease)/increase in cash and cash equivalents
(9,409,468)
10,721,123
Cash and cash equivalents at beginning of Period
10,067,781
(653,342)
Cash and cash equivalents at end of Period
658,313
10,067,781
G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Notes To The Financial Statements
For The Period Ended 31 December 2023
- 13 -
1
Accounting policies
Company information

G H Dean & Co. Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hempstead Farm, Tonge, Sittingbourne, Kent, England, ME9 9BJ.

1.1
Reporting period

The financial statements are for the short period 11 May 2023 - 31 December 2023. The change to a 31 December 2023 year end allows management to more accurately assess the results for the harvest year. The results for the prior period are not entirely comparable as they relate to the short period 1 January 2023 - 11 May 2023.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.3
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Turnover from rental investment property is recognised on a month by month basis in line with the terms of any relevant agreements with tenants.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Notes To The Financial Statements (Continued)
For The Period Ended 31 December 2023
1
Accounting policies
(Continued)
- 14 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold and long-term leasehold property
5% straight line
Plant and machinery
5-10% straight line and 5-25% reducing balance
Bulk bins
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Biological assets

Biological assets are recognised only when three recognition criteria have been fulfilled:

The company measures biological assets at cost less accumulated depreciation and accumulated impairment losses.

 

In respect of agricultural produce harvested from a biological asset, this is measured at the point of harvest at either;

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Sheep flock
carried on a replacement cost basis
Orchards
4-10% straight line
1.7
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.8
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Notes To The Financial Statements (Continued)
For The Period Ended 31 December 2023
1
Accounting policies
(Continued)
- 15 -
1.9
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.10
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.11
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.12
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Notes To The Financial Statements (Continued)
For The Period Ended 31 December 2023
1
Accounting policies
(Continued)
- 16 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, 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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares 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.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

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.

G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Notes To The Financial Statements (Continued)
For The Period Ended 31 December 2023
1
Accounting policies
(Continued)
- 17 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.13
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.14
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.15
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.16
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Notes To The Financial Statements (Continued)
For The Period Ended 31 December 2023
1
Accounting policies
(Continued)
- 18 -
1.17
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.18

Agricultural support scheme

Payments received under agricultural support schemes are recognised as income when the business has met all criteria which entitle it to the payments.

 

Amounts received under the Basic Payment scheme are recognised on 31 December in the year of claim. No provision has been made for penalties arising from the failure to comply with ‘cross compliance’ conditions, as defined by the RPA, except for where notification has been received.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Tangible fixed assets

Tangible fixed assets are depreciated over their useful economic lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining lives of the assets and projected disposal values.

G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Notes To The Financial Statements (Continued)
For The Period Ended 31 December 2023
2
Judgements and key sources of estimation uncertainty
(Continued)
- 19 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Investment property

Such properties are included in these financial statements at fair value. These values are obtained from a qualified valuer, however there is significant uncertainty in estimating these values.

Stock

Certain yields are estimated as crops are harvested from the field, with adjustment made for drying. Estimation of yields can differ based upon the approach taken, however the directors believe that their approach takes account of waste, economic and environmental factors and fives a value in line with their expectations.

3
Turnover and other revenue
2023
2023
£
£
Turnover analysed by class of business
Farm produce
2,651,242
2,928,892
Subsidies
201,240
114,554
Miscellaneous
84,137
377,271
Land sale
-
9,085,000
2,936,619
12,505,717
2023
2023
£
£
Other revenue
Interest income
35,634
8,812
Dividends received
25
-

All turnover of the company originated in the United Kingdom.

4
Operating (loss)/profit
2023
2023
Operating (loss)/profit for the period is stated after charging/(crediting):
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
47,500
15,500
Depreciation of owned tangible fixed assets
404,012
182,180
Depreciation of tangible fixed assets held under finance leases
10,331
15,496
Profit on disposal of tangible fixed assets
(29,322)
-
Profit on disposal of investment property
-
0
(64,330)
Operating lease charges
-
2,503
G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Notes To The Financial Statements (Continued)
For The Period Ended 31 December 2023
- 20 -
5
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2023
2023
Number
Number
Administration
9
4
Farming
44
12
Total
53
16

Their aggregate remuneration comprised:

2023
2023
£
£
Wages and salaries
963,034
234,738
Social security costs
94,775
24,069
Pension costs
17,179
8,062
1,074,988
266,869
6
Directors' remuneration
2023
2023
£
£
Remuneration for qualifying services
36,000
12,000
7
Interest receivable and similar income
2023
2023
£
£
Interest income
Interest on bank deposits
35,634
8,812
Other income from investments
Dividends received
25
-
0
Total income
35,659
8,812
2023
2023
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
35,634
8,812
G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Notes To The Financial Statements (Continued)
For The Period Ended 31 December 2023
- 21 -
8
Interest payable and similar expenses
2023
2023
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
33,267
47,814
Other finance costs:
Interest on finance leases and hire purchase contracts
16,498
2,833
Other interest
87,557
-
0
137,322
50,647
9
Amounts written off investments
2023
2023
£
£
Changes in the fair value of investment properties
(1,161,172)
-
10
Taxation
2023
2023
£
£
Current tax
UK corporation tax on profits for the current period
-
0
1,709,093
Tax relating to prior year adjustments recognised in profit or loss
153,051
-
0
Total current tax
153,051
1,709,093
Deferred tax
Origination and reversal of timing differences
(195,190)
(115,868)
Tax losses carried forward
(280,686)
-
0
Total deferred tax
(475,876)
(115,868)
Total tax (credit)/charge
(322,825)
1,593,225

The tax rate applicable to the period ended 31 December 2023 is 19 - 25%. The previous period was subject to a hybrid rate due to the change in legislation from 1 April 2023. The tax rates in force during the last period were 19% to 1 April 2023 and 19 - 25% thereafter.

G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Notes To The Financial Statements (Continued)
For The Period Ended 31 December 2023
10
Taxation
(Continued)
- 22 -

The actual (credit)/charge for the Period can be reconciled to the expected (credit)/charge for the Period based on the profit or loss and the standard rate of tax as follows:

2023
2023
£
£
(Loss)/profit before taxation
(2,045,801)
7,839,786
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 20.85%)
(511,450)
1,634,294
Tax effect of expenses that are not deductible in determining taxable profit
377
11,189
Gains not taxable
293,727
55,472
Unutilised tax losses carried forward
280,686
-
0
Adjustments in respect of prior years
153,051
-
0
Permanent capital allowances in excess of depreciation
(63,334)
32,910
Other non-reversing timing differences
(12)
(24,772)
Dividend income
6
-
0
Deferred tax charge
(475,876)
(115,868)
Taxation (credit)/charge for the period
(322,825)
1,593,225

 

11
Dividends
2023
2023
£
£
Interim paid
919,123
768,518
G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Notes To The Financial Statements (Continued)
For The Period Ended 31 December 2023
- 23 -
12
Tangible fixed assets
Freehold and long-term leasehold property
Plant and machinery
Bulk bins
Total
£
£
£
£
Cost
At 11 May 2023
16,211,276
4,571,552
319,693
21,102,521
Additions
571,375
143,606
-
714,981
Disposals
(78,265)
(18,885)
-
(97,150)
At 31 December 2023
16,704,386
4,696,273
319,693
21,720,352
Depreciation and impairment
At 11 May 2023
3,436,377
2,994,056
319,693
6,750,126
Depreciation on owned assets
205,451
183,409
-
388,860
Eliminated in respect of disposals
(13,370)
(6,102)
-
(19,472)
At 31 December 2023
3,628,458
3,171,363
319,693
7,119,514
Carrying amount
At 31 December 2023
13,075,928
1,524,910
-
14,600,838
At 10 May 2023
12,774,899
1,577,496
-
14,352,395

The carrying value of freehold land relates to 1,537 hectares (10 May 2023: 1,537 hectares) of land comprising farmland, marshland, orchards and land prepared for development. The directors are satisfied that the market value of land is in excess of its carrying value in the financial statements.

2023
2023
£
£
Freehold
13,133,483
9,077,352

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

2023
2023
£
£
Plant and machinery
-
0
138,172
G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Notes To The Financial Statements (Continued)
For The Period Ended 31 December 2023
- 24 -
13
Biological assets
Sheep flock
Orchards
Total
£
£
£
Cost
At 11 May 2023
215,765
1,756,405
1,972,170
Additions - purchases
70,850
-
0
70,850
Disposals
(5,370)
-
0
(5,370)
At 31 December 2023
281,245
1,756,405
2,037,650
Depreciation and impairment
At 11 May 2023
-
0
1,294,734
1,294,734
Depreciation charged for the Period
-
0
25,483
25,483
At 31 December 2023
-
0
1,320,217
1,320,217
Carrying amount
At 31 December 2023
281,245
436,188
717,433
At 10 May 2023
215,765
461,671
677,436
14
Investment property
2023
£
Fair value
At 11 May 2023
23,143,100
Net gains or losses through fair value adjustments
(1,161,172)
At 31 December 2023
21,981,928

The 2023 valuations were made on an open market value for existing use basis. These valuations were made by Mr MWS Bax FRICS FAAV of BTF, also throughout 2023 Chair of the Board of Directors of G.H. Dean & Co Ltd.


The historic cost of individual investments properties is unknown as they have been acquired from 1947 onwards in combination with other property used in the trade of the company.

15
Fixed asset investments
2023
2023
Notes
£
£
Investments in subsidiaries
16
30,099
30,099
Unlisted investments
511
511
30,610
30,610
Fixed asset investments not carried at market value

The investments are relating to the PO and therefore are carried at cost.

G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Notes To The Financial Statements (Continued)
For The Period Ended 31 December 2023
- 25 -
16
Subsidiaries

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
G.H. Dean (1920) Limited
Hempstead Farm, Bapchild, Sittingbourne, Kent, ME9 9BH
Dormant
Ordinary Share
99.97
Blackbird Farming Limited
Hempstead Farm, Bapchild, Sittingbourne, Kent, ME9 9BH
Dormant
Ordinary Share
100.00
Machere Ltd (year ended 31 May 2023)
Hempstead Farm, Bapchild, Sittingbourne, Kent, ME9 9BH
Farming
Ordinary Share
90.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
G.H. Dean (1920) Limited
30,000
-
0
Blackbird Farming Limited
100
-
0
Machere Ltd (year ended 31 May 2023)
(136,869)
0
(111,009)
0
G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Notes To The Financial Statements (Continued)
For The Period Ended 31 December 2023
- 26 -
17
Stocks
2023
2023
£
£
Livestock
-
269,497
Growing crop
620,883
1,676,358
Crop in store
2,167,114
18,486
Consumables
283,885
341,626
Property related work in progress
806,906
653,179
3,878,788
2,959,146
Biological assets included within stock are as follows:
Biological assets - livestock
2023
2023
£
£
As at 11 May
269,497
-
Net movement from births, deaths, sales, purchases and transfers
(269,497)
269,497
As at 31 December
-
269,497
Biological assets - growing crop
2023
2023
£
£
As at 11 May
1,676,358
749,524
Net movement on cultivations
(1,055,475)
926,834
As at 31 December
620,883
1,676,358
18
Debtors
2023
2023
Amounts falling due within one year:
£
£
Trade debtors
4,791,197
4,802,176
Other debtors
897,454
1,092,221
Prepayments and accrued income
2,902,124
2,898,999
8,590,775
8,793,396

 

G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Notes To The Financial Statements (Continued)
For The Period Ended 31 December 2023
- 27 -
19
Creditors: amounts falling due within one year
2023
2023
Notes
£
£
Bank loans
21
-
0
31,434
Obligations under finance leases
22
-
0
40,590
Trade creditors
379,747
635,552
Amounts owed to group undertakings
29,986
29,986
Corporation tax
857,926
2,182,318
Other taxation and social security
53,200
1,653,983
Other creditors
276,333
172,313
Accruals and deferred income
1,257,321
2,810,702
2,854,513
7,556,878
20
Creditors: amounts falling due after more than one year
2023
2023
Notes
£
£
Bank loans and overdrafts
21
-
0
1,683,954
Obligations under finance leases
22
-
0
60,885
-
0
1,744,839
21
Loans and overdrafts
2023
2023
£
£
Bank loans
-
0
1,715,388
Payable within one year
-
0
31,434
Payable after one year
-
0
1,683,954

The company had multiple loans in the prior period which were all settled within the current period.

22
Finance lease obligations
2023
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
-
0
40,590
In two to five years
-
0
60,885
-
0
101,475
G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Notes To The Financial Statements (Continued)
For The Period Ended 31 December 2023
- 28 -
23
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2023
2023
Balances:
£
£
Accelerated capital allowances
810,461
715,359
Tax losses
(280,686)
-
Revaluations
4,006,682
4,296,974
4,536,457
5,012,333
2023
Movements in the Period:
£
Liability at 11 May 2023
5,012,333
Credit to profit or loss
(475,876)
Liability at 31 December 2023
4,536,457

The deferred tax asset of £280,686, in respect of losses carried forward, is expected to reverse in the next 12 months.

An estimated £64,710 is expected to reverse from the deferred tax liability related to accelerated capital allowances in the next 12 months.

24
Retirement benefit schemes
2023
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
17,179
8,062

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

25
Share capital
2023
2023
2023
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 10p each
426,954
426,954
42,695
42,695
G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Notes To The Financial Statements (Continued)
For The Period Ended 31 December 2023
- 29 -
26
Related party transactions
Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2023
2023
£
£
Aggregate compensation
93,199
32,862

A company which is under the control of the board of directors was granted a 29 year lease in 2017. The lease was granted on an arms length basis with an annual rent of £12,200. At the balance sheet date, the amount due to the related party was £144,801 (10 May 2023: £150,251).

27
Ultimate controlling party

The company is controlled by the shareholders. There is no ultimate controlling party.

28
Cash (absorbed by)/generated from operations
2023
2023
£
£
(Loss)/profit after taxation
(1,722,976)
6,246,561
Adjustments for:
Taxation (credited)/charged
(322,825)
1,593,225
Finance costs
137,322
50,647
Investment income
(35,659)
(8,812)
Gain on disposal of tangible fixed assets
(29,322)
-
Gain on disposal of investment property
-
0
(64,330)
Fair value loss on investment properties
1,161,172
266,100
Depreciation and impairment of tangible fixed assets
414,343
218,153
Movements in working capital:
(Increase)/decrease in stocks
(919,642)
1,692,132
Decrease in debtors
202,621
1,992,399
(Decrease)/increase in creditors
(3,305,949)
2,152,796
Cash (absorbed by)/generated from operations
(4,420,915)
14,138,871
G H Dean & Co. Limited
G H DEAN & CO. LIMITED
also trading as Blackbird Farming
Notes To The Financial Statements (Continued)
For The Period Ended 31 December 2023
- 30 -
29
Analysis of changes in net funds
11 May 2023
Cash flows
31 December 2023
£
£
£
Cash at bank and in hand
10,067,781
(9,409,468)
658,313
Borrowings excluding overdrafts
(1,715,388)
1,715,388
-
Obligations under finance leases
(101,475)
101,475
-
8,250,918
(7,592,605)
658,313
2023-12-312023-05-11falsefalsefalseCCH SoftwareCCH Accounts Production 2025.100Mr M W S BaxMrs M A DaviesMs A J DeanMr E G DoubledayMr O C DoubledayMr G L T ReutterMr T MalpasMr W P O English. CBEMr G E LoynesMs J A Hadlow004317762023-05-112023-12-3100431776bus:Director22023-05-112023-12-3100431776bus:Director32023-05-112023-12-3100431776bus:Director42023-05-112023-12-3100431776bus:Director52023-05-112023-12-3100431776bus:Director62023-05-112023-12-3100431776bus:Director72023-05-112023-12-3100431776bus:Director82023-05-112023-12-3100431776bus:Director92023-05-112023-12-3100431776bus:CompanySecretary12023-05-112023-12-3100431776bus:Director12023-05-112023-12-3100431776bus:RegisteredOffice2023-05-112023-12-31004317762023-12-31004317762023-01-012023-05-1000431776core:RetainedEarningsAccumulatedLosses2023-01-012023-05-1000431776core:RetainedEarningsAccumulatedLosses2023-05-112023-12-31004317762023-05-1000431776core:LandBuildingscore:OwnedOrFreeholdAssets2023-12-3100431776core:PlantMachinery2023-12-3100431776core:LandBuildingscore:OwnedOrFreeholdAssets2023-05-1000431776core:PlantMachinery2023-05-1000431776core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3100431776core:CurrentFinancialInstrumentscore:WithinOneYear2023-05-1000431776core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3100431776core:Non-currentFinancialInstrumentscore:AfterOneYear2023-05-1000431776core:CurrentFinancialInstruments2023-12-3100431776core:CurrentFinancialInstruments2023-05-1000431776core:Non-currentFinancialInstruments2023-12-3100431776core:Non-currentFinancialInstruments2023-05-1000431776core:ShareCapital2023-12-3100431776core:ShareCapital2023-05-1000431776core:OtherMiscellaneousReserve2023-12-3100431776core:OtherMiscellaneousReserve2023-05-1000431776core:RetainedEarningsAccumulatedLosses2023-12-3100431776core:RetainedEarningsAccumulatedLosses2023-05-1000431776core:ShareCapital2022-12-3100431776core:TreasurySharesOwnSharesReserve2022-12-3100431776core:RetainedEarningsAccumulatedLosses2022-12-3100431776core:TreasurySharesOwnSharesReserve2023-05-1000431776core:TreasurySharesOwnSharesReserve2023-12-3100431776core:ShareCapitalOrdinaryShareClass12023-12-3100431776core:ShareCapitalOrdinaryShareClass12023-05-100043177612023-05-112023-12-310043177612023-01-012023-05-10004317762023-05-10004317762022-12-3100431776core:LandBuildingscore:OwnedOrFreeholdAssets2023-05-112023-12-3100431776core:PlantMachinery2023-05-112023-12-3100431776core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment2023-05-112023-12-3100431776core:BearerBiologicalAssetClass22023-05-112023-12-3100431776core:BearerBiologicalAssetClass42023-05-112023-12-3100431776core:UKTax2023-05-112023-12-3100431776core:UKTax2023-01-012023-05-100043177622023-05-112023-12-310043177622023-01-012023-05-1000431776core:LandBuildingscore:OwnedOrFreeholdAssets2023-05-1000431776core:PlantMachinery2023-05-1000431776core:BearerBiologicalAssetClass22023-05-1000431776core:BearerBiologicalAssetClass42023-05-1000431776core:BearerBiologicalAssetClass22023-12-3100431776core:BearerBiologicalAssetClass42023-12-3100431776core:BearerBiologicalAssetClass22023-05-1000431776core:BearerBiologicalAssetClass42023-05-1000431776core:Non-currentFinancialInstrumentscore:UnlistedNon-exchangeTraded2023-12-3100431776core:Non-currentFinancialInstrumentscore:UnlistedNon-exchangeTraded2023-05-1000431776core:Subsidiary12023-05-112023-12-3100431776core:Subsidiary22023-05-112023-12-3100431776core:Subsidiary32023-05-112023-12-3100431776core:Subsidiary112023-05-112023-12-3100431776core:Subsidiary222023-05-112023-12-3100431776core:Subsidiary332023-05-112023-12-3100431776core:Subsidiary12023-12-3100431776core:Subsidiary22023-12-3100431776core:Subsidiary32023-12-3100431776core:WithinOneYear2023-12-3100431776core:WithinOneYear2023-05-1000431776core:BetweenTwoFiveYears2023-12-3100431776core:BetweenTwoFiveYears2023-05-1000431776bus:OrdinaryShareClass12023-05-112023-12-3100431776bus:OrdinaryShareClass12023-12-3100431776bus:OrdinaryShareClass12023-05-1000431776bus:PrivateLimitedCompanyLtd2023-05-112023-12-3100431776bus:FRS1022023-05-112023-12-3100431776bus:Audited2023-05-112023-12-3100431776bus:FullAccounts2023-05-112023-12-31xbrli:purexbrli:sharesiso4217:GBP