| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 JANUARY 2024 TO 31 AUGUST 2024 |
| FOR |
| STANTON FARMS LTD |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 JANUARY 2024 TO 31 AUGUST 2024 |
| FOR |
| STANTON FARMS LTD |
| STANTON FARMS LTD (REGISTERED NUMBER: 01232108) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 JANUARY 2024 TO 31 AUGUST 2024 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| STANTON FARMS LTD |
| COMPANY INFORMATION |
| FOR THE PERIOD 1 JANUARY 2024 TO 31 AUGUST 2024 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants & Tax Consultants |
| 27-29 Old Market |
| Wisbech |
| Cambridgeshire |
| PE13 1NE |
| STANTON FARMS LTD (REGISTERED NUMBER: 01232108) |
| STATEMENT OF FINANCIAL POSITION |
| 31 AUGUST 2024 |
| 31.8.24 | 31.12.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 11 |
| Capital redemption reserve |
| Retained earnings |
| The director acknowledges her responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| STANTON FARMS LTD (REGISTERED NUMBER: 01232108) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31 AUGUST 2024 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| STANTON FARMS LTD (REGISTERED NUMBER: 01232108) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 JANUARY 2024 TO 31 AUGUST 2024 |
| 1. | STATUTORY INFORMATION |
| Stanton Farms Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The reporting period has been shortened by four months in order to align with the demerger, therefore, comparatives are not entirely comparable. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Fixed assets are recorded at historic cost less accumulated depreciation and any provisions for impairment, with the exception of the company's land and buildings which were previously revalued on 1 January 1986. Under the transitional provisions of Financial Reporting Standard 15 "Tangible Fixed Assets", the land and buildings continued to be held on that basis and on transition to Financial Reporting Standard 102 Section 1A, the valuation is treated as deemed cost. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Investment property |
| In accordance with standard accounting practice, investment properties are revalued annually and the aggregate surplus or deficit is transferred to a revaluation reserve. No depreciation or amortisation is provided in respect of freehold investment properties. |
| Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the directors believe that the policy of not providing depreciation is necessary in order to give a true and fair view, since the current value of investment properties, and changes to that current value, are of prime importance rather than a calculation of systematic annual depreciation. Depreciation is only one of the many factors reflected in the annual valuation, and the amount which might otherwise have been included cannot be separately identified or quantified. |
| STANTON FARMS LTD (REGISTERED NUMBER: 01232108) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 JANUARY 2024 TO 31 AUGUST 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Government grants |
| Government grants received are treated as deferred income and credited to the profit and loss account over the estimated useful life of the relevant fixed assets. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| STANTON FARMS LTD (REGISTERED NUMBER: 01232108) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 JANUARY 2024 TO 31 AUGUST 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Leasehold | Land and | Plant and |
| improvements | buildings | machinery |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2024 |
| Additions |
| Transfer on demerger | - | (104,811 | ) | - |
| Revaluations |
| At 31 August 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for period |
| Revaluation adjustments | ( |
) |
| Transfer on demerger | ( |
) |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 December 2023 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2024 |
| Additions |
| Transfer on demerger | - | - | (104,811 | ) |
| Revaluations |
| At 31 August 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for period |
| Revaluation adjustments | ( |
) |
| Transfer on demerger | ( |
) |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 December 2023 |
| Included in cost or valuation of land and buildings is freehold land of £ 151,793 (2023 - £ 150,054 ) which is not depreciated. |
| STANTON FARMS LTD (REGISTERED NUMBER: 01232108) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 JANUARY 2024 TO 31 AUGUST 2024 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Cost or valuation at 31 August 2024 is represented by: |
| Leasehold | Land and | Plant and |
| improvements | buildings | machinery |
| £ | £ | £ |
| Valuation in 2024 | - | 928,611 | - |
| Cost | 32,137 | - | 225,522 |
| 32,137 | 928,611 | 225,522 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| Valuation in 2024 | - | - | 928,611 |
| Cost | 146 | 4,060 | 261,865 |
| 146 | 4,060 | 1,190,476 |
| If land and buildings had not been revalued they would have been included at the following historical cost: |
| 31.8.24 | 31.12.23 |
| £ | £ |
| Cost | 296,879 | 511,145 |
| Aggregate depreciation | 149,192 | 254,594 |
| Value of land in freehold land and buildings | 151,793 | 150,054 |
| Land and buildings were valued on an open market basis on 31 August 2024 by Brown & Co . |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| £ |
| COST OR VALUATION |
| At 1 January 2024 |
| and 31 August 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for period |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 December 2023 |
| STANTON FARMS LTD (REGISTERED NUMBER: 01232108) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 JANUARY 2024 TO 31 AUGUST 2024 |
| 5. | FIXED ASSET INVESTMENTS |
| 31.08.24 | 31.12.23 |
| £ | £ |
| Shares in group undertakings | 5,787 | 100 |
| Other investments not loans | 1,453 | 53,595 |
| 7,240 | 53,695 |
| Additional information is as follows: |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2024 | 100 |
| Revaluation | 5,687 |
| NET BOOK VALUE |
| At 31 August 2024 | 5,787 |
| At 31 December 2023 | 100 |
| Interest in partnership - Park Farm Arable | 31.08.2024 |
| £ |
| At 1 January 2023 | 52,206 |
| Profit for the year | 13,201 |
| Capital introduced | 11,000 |
| Drawings | (36,000 | ) |
| Transfer | (40,407 | ) |
| At 31 August 2024 | - |
| On 30 August 2024, the business of Stanton Farms Limited was split between Stanton Farms Limited and Stanton Farms Holdings Limited, together with the interest in Park Farm Arable moving to Stanton Farms Holdings Limited and Park Farm Tourism Limited remaining with Stanton Farms Limited. |
| On 30 August 2024, Stanton Farms Limited was transferred to Stanton Farms Developments Limited by a distribution in specie. |
| On 2 September 2024, a capital reduction demerger took place in which the group headed by Stanton Farms Limited was distributed to Park Farm Snettisham Limited. |
| Investments other than loans | Listed | Unlisted | Total |
| £ | £ | £ |
| At 1 January 2024 | 1,289 | 100 | 1,389 |
| Disposals | - | - | - |
| Revaluation | 164 | (100 | ) | 64 |
| At 31 August 2024 | 1,453 | - | 1,453 |
| STANTON FARMS LTD (REGISTERED NUMBER: 01232108) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 JANUARY 2024 TO 31 AUGUST 2024 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2024 |
| Transfer on demerger | (390,000 | ) |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 December 2023 |
| Fair value at 31 August 2024 is represented by: |
| £ |
| Valuation in 2024 | 350,000 |
| If investment properties had not been revalued they would have been included at the following historical cost: |
| 31.8.24 | 31.12.23 |
| £ | £ |
| Cost | 139,350 | 278,700 |
| Investment properties were valued on an open market basis on 31 August 2024 by Brown & Co . |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.12.23 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.12.23 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| STANTON FARMS LTD (REGISTERED NUMBER: 01232108) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 JANUARY 2024 TO 31 AUGUST 2024 |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.8.24 | 31.12.23 |
| £ | £ |
| Bank loans |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans due in more than 5 |
| years by instalments | 113,944 | 64,692 |
| 113,944 | 64,692 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.8.24 | 31.12.23 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 1,425 | 7,021 |
| 11. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 January 2024 |
| Elimination of revaluation of land and buildings transferred |
(357,071 |
) |
| Revaluation | 494,593 |
| Reclassification | (248,006 | ) |
| At 31 August 2024 |