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REGISTERED NUMBER: 13898234 (England and Wales)













GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

AUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

MOLESCROFT FARM ESTATE LIMITED

MOLESCROFT FARM ESTATE LIMITED (REGISTERED NUMBER: 13898234)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 16


MOLESCROFT FARM ESTATE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: M J W Hall
Miss T C W Hall
Mrs C R W Parsonage
Mrs C D Hall
Miss J J W Hall





REGISTERED OFFICE: Molescroft Farm
Grange Way
Beverley
East Yorkshire
HU17 9FS





REGISTERED NUMBER: 13898234 (England and Wales)





AUDITORS: BCO Accountants LLP
Chartered Certified Accountants
and Statutory Auditors
Driffield

MOLESCROFT FARM ESTATE LIMITED (REGISTERED NUMBER: 13898234)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2024


The directors present their strategic report of the company and the group for the year ended 31 August 2024.

REVIEW OF BUSINESS
The key financial highlights are as follows:

2024 2023
£    £   

Turnover 2,839 2,740
Profit before tax 800 244
Net assets 6,025 5,513

The directors consider the group results for the year to be satisfactory.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks for the group are weather related issues for agriculture and meeting legal and regulatory requirements to ensure safe effective childcare.

KEY PERFORMANCE INDICATORS
2024 2023

Growth in Revenue 3.6% -

Gross Profit Margin 35% 16%

Net Profit Margin 28% 9%

FUTURE DEVELOPMENTS
In view of the group's continued successful financial results the directors will continue the same business model as previously and expect to continue trading at the same productivity levels as in previous years.

FINANCIAL INSTRUMENTS
The group's principal financial instruments comprise of bank balances and trade creditors. The main purpose of these instruments is to raise funds and finance for the group's operations.

Due to the nature of the financial instruments used by the group there is limited exposure to price risk. The group's approach to managing other risks applicable to the financial instruments is shown below.

In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet the amounts due.

ON BEHALF OF THE BOARD:





Miss T C W Hall - Director


27 May 2025

MOLESCROFT FARM ESTATE LIMITED (REGISTERED NUMBER: 13898234)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 AUGUST 2024


The directors present their report with the financial statements of the company and the group for the year ended 31 August 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of farming and a children's nursery.

DIVIDENDS
Interim dividends of £176,472 were paid on the ordinary £1 shares. The directors recommend that no final dividend be paid on these shares.

The total distribution of dividends for the period ended 31 August 2024 will be £176,472 (2023 - £131,300).

DIRECTORS
The directors shown below have held office during the whole of the period from 1 September 2023 to the date of this report.

M J W Hall
Miss T C W Hall
Mrs C R W Parsonage
Mrs C D Hall
Miss J J W Hall

DISCLOSURE IN THE 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 Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the directors' report. It has done so in respect of future developments and financial instruments.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors 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 the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

MOLESCROFT FARM ESTATE LIMITED (REGISTERED NUMBER: 13898234)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 AUGUST 2024


AUDITORS
The auditors, BCO Accountants LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Miss T C W Hall - Director


27 May 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MOLESCROFT FARM ESTATE LIMITED


Opinion
We have audited the financial statements of Molescroft Farm Estate Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 August 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of 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:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 August 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 group's and the parent 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 directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MOLESCROFT FARM ESTATE LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MOLESCROFT FARM ESTATE LIMITED


Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the group and determined that the most significant are those that relate to:

- Financial Reporting Standard 102
- Companies Act 2006
- Health and safety
- Safeguarding

We assessed the risks of material misstatement in respect of fraud through discussions with directors.

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above. Enquiries were made of management and we corroborated our enquiries by reviewing the company's health and safety manuals and OFSTED reports.

We considered the risk of fraud through management override and, in response, we incorporated testing of manual journal entries throughout the year into our audit approach.

Based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relation to fraud. We considered the risk of fraud to be low. Accounting policies were reviewed and an element of unpredictability was included in our audit procedures.

We consider that the nature, timing and extent of audit procedures performed increases the likelihood of detection of any irregularities.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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 a Report of the Auditors 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.




Christopher Bryan Wilson FCCA (Senior Statutory Auditor)
for and on behalf of BCO Accountants LLP
Chartered Certified Accountants
and Statutory Auditors
Driffield

29 May 2025

MOLESCROFT FARM ESTATE LIMITED (REGISTERED NUMBER: 13898234)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
Notes £    £   

TURNOVER 3 2,839,501 2,739,595

Cost of sales (1,851,455 ) (2,286,767 )
GROSS PROFIT 988,046 452,828

Administrative expenses (552,265 ) (553,740 )
435,781 (100,912 )

Other operating income 4 316,146 319,963
OPERATING PROFIT 6 751,927 219,051

Income from fixed asset investments 33,234 18,584
Interest receivable and similar income 15,132 10,214
800,293 247,849

Interest payable and similar expenses 7 - (3,263 )
PROFIT BEFORE TAXATION 800,293 244,586

Tax on profit 8 (202,328 ) (59,210 )
PROFIT FOR THE FINANCIAL YEAR 597,965 185,376
Profit attributable to:
Owners of the parent 597,965 185,376

MOLESCROFT FARM ESTATE LIMITED (REGISTERED NUMBER: 13898234)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 597,965 185,376


OTHER COMPREHENSIVE INCOME
Gain on revaluation of investments 90,372 15,074
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX

90,372

15,074
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

688,337

200,450

Total comprehensive income attributable to:
Owners of the parent 688,337 200,450

MOLESCROFT FARM ESTATE LIMITED (REGISTERED NUMBER: 13898234)

CONSOLIDATED BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 11 4,176,852 4,238,286
Investments 12 920,638 786,068
5,097,490 5,024,354

CURRENT ASSETS
Stocks 13 315,133 299,768
Debtors 14 339,766 175,929
Cash at bank 991,763 673,359
1,646,662 1,149,056
CREDITORS
Amounts falling due within one year 15 (507,337 ) (419,860 )
NET CURRENT ASSETS 1,139,325 729,196
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,236,815

5,753,550

PROVISIONS FOR LIABILITIES 18 (211,400 ) (240,000 )
NET ASSETS 6,025,415 5,513,550

CAPITAL AND RESERVES
Called up share capital 19 12,522,509 12,522,509
Share premium 20 698,167 698,167
Consolidation reserve 20 (11,271,509 ) (11,271,509 )
Fair value reserve 20 124,177 33,805
Retained earnings 20 3,952,071 3,530,578
SHAREHOLDERS' FUNDS 6,025,415 5,513,550

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2025 and were signed on its behalf by:




Miss T C W Hall - Director



Mrs C R W Parsonage - Director


MOLESCROFT FARM ESTATE LIMITED (REGISTERED NUMBER: 13898234)

COMPANY BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 11 - -
Investments 12 12,522,609 12,522,609
12,522,609 12,522,609

CREDITORS
Amounts falling due within one year 15 (100 ) (100 )
NET CURRENT LIABILITIES (100 ) (100 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,522,509

12,522,509

CAPITAL AND RESERVES
Called up share capital 19 12,522,509 12,522,509
SHAREHOLDERS' FUNDS 12,522,509 12,522,509

Company's profit for the financial year 176,472 131,300

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2025 and were signed on its behalf by:




Miss T C W Hall - Director



Mrs C R W Parsonage - Director


MOLESCROFT FARM ESTATE LIMITED (REGISTERED NUMBER: 13898234)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2024

Called up
share Retained Share
capital earnings premium
£    £    £   
Balance at 1 September 2022 12,522,509 3,476,502 698,167

Changes in equity
Dividends - (131,300 ) -
Total comprehensive income - 185,376 -
Balance at 31 August 2023 12,522,509 3,530,578 698,167

Changes in equity
Dividends - (176,472 ) -
Total comprehensive income - 597,965 -
Balance at 31 August 2024 12,522,509 3,952,071 698,167
Fair
Consolidation value Total
reserve reserve equity
£    £    £   
Balance at 1 September 2022 (11,271,509 ) 18,731 5,444,400

Changes in equity
Dividends - - (131,300 )
Total comprehensive income - 15,074 200,450
Balance at 31 August 2023 (11,271,509 ) 33,805 5,513,550

Changes in equity
Dividends - - (176,472 )
Total comprehensive income - 90,372 688,337
Balance at 31 August 2024 (11,271,509 ) 124,177 6,025,415

MOLESCROFT FARM ESTATE LIMITED (REGISTERED NUMBER: 13898234)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 September 2022 12,522,509 - 12,522,509

Changes in equity
Dividends - (131,300 ) (131,300 )
Total comprehensive income - 131,300 131,300
Balance at 31 August 2023 12,522,509 - 12,522,509

Changes in equity
Dividends - (176,472 ) (176,472 )
Total comprehensive income - 176,472 176,472
Balance at 31 August 2024 12,522,509 - 12,522,509

MOLESCROFT FARM ESTATE LIMITED (REGISTERED NUMBER: 13898234)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 825,319 844,089
Interest paid - (3,263 )
Tax paid (190,298 ) (202,720 )
Net cash from operating activities 635,021 638,106

Cash flows from investing activities
Purchase of tangible fixed assets (176,563 ) (35,745 )
Purchase of fixed asset investments (44,198 ) (25,699 )
Sale of tangible fixed assets 18,500 18,000
Interest received 15,132 10,214
Dividends received 33,234 18,584
Net cash from investing activities (153,895 ) (14,646 )

Cash flows from financing activities
Capital repayments in year (36,250 ) (36,250 )
Amount introduced by directors 50,000 35,000
Amount withdrawn by directors - (200,451 )
Equity dividends paid (176,472 ) (131,300 )
Net cash from financing activities (162,722 ) (333,001 )

Increase in cash and cash equivalents 318,404 290,459
Cash and cash equivalents at beginning
of year

2

673,359

382,900

Cash and cash equivalents at end of
year

2

991,763

673,359

MOLESCROFT FARM ESTATE LIMITED (REGISTERED NUMBER: 13898234)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 800,293 244,586
Depreciation charges 227,224 259,846
Profit on disposal of fixed assets (7,727 ) (15,085 )
Finance costs - 3,263
Finance income (48,366 ) (28,798 )
971,424 463,812
(Increase)/decrease in stocks (15,365 ) 487,492
Increase in trade and other debtors (163,837 ) (85,829 )
Increase/(decrease) in trade and other creditors 33,097 (21,386 )
Cash generated from operations 825,319 844,089

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 August 2024
31/8/24 1/9/23
£    £   
Cash and cash equivalents 991,763 673,359
Year ended 31 August 2023
31/8/23 1/9/22
£    £   
Cash and cash equivalents 673,359 382,900


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/9/23 Cash flow At 31/8/24
£    £    £   
Net cash
Cash at bank 673,359 318,404 991,763
673,359 318,404 991,763
Debt
Finance leases (36,250 ) 36,250 -
(36,250 ) 36,250 -
Total 637,109 354,654 991,763

MOLESCROFT FARM ESTATE LIMITED (REGISTERED NUMBER: 13898234)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Molescroft Farm Estate Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The group consists of Molescroft Farm Estate Limited and its two subsidiary companies.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Basis of consolidation
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the group’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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Land - not provided
Plant and machinery - at variable rates on reducing balance
Fixtures and fittings - 25% on cost, 25% on reducing balance and Straight line over 20 years
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

Financial instruments
Basic financial assets including trade and other receivables, cash and bank balances are initially recognised at transaction price and subsequently measured at amortised cost.

Basic financial liabilities including trade and other payables and bank loans are initially recognised at transaction price and subsequently measured at amortised cost.


MOLESCROFT FARM ESTATE LIMITED (REGISTERED NUMBER: 13898234)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Farming 1,151,444 1,330,275
Nursery 1,688,057 1,409,320
2,839,501 2,739,595

MOLESCROFT FARM ESTATE LIMITED (REGISTERED NUMBER: 13898234)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


4. OTHER OPERATING INCOME
2024 2023
£    £   
Rents received 168,745 171,594
Sundry receipts 3,708 8,094
Wayleaves and mast rental 3,205 3,521
Solar income 32,098 43,538
Biomass income 31,622 28,171
Dog field rent 76,768 65,045
316,146 319,963

5. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 984,028 862,378
Social security costs 64,170 54,101
Other pension costs 38,407 31,103
1,086,605 947,582

The average number of employees during the year was as follows:
2024 2023

Farm 8 7
Nursery 46 44
54 51

2024 2023
£    £   
Directors' remuneration 32,080 32,080
Directors' pension contributions to money purchase schemes 11,520 9,120

6. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 227,224 212,512
Depreciation - assets on hire purchase contracts - 47,334
Profit on disposal of fixed assets (7,727 ) (15,085 )
Auditors remuneration 8,000 -
Auditors remuneration for non audit work 8,800 7,000

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Corporation tax interest - 3,263

MOLESCROFT FARM ESTATE LIMITED (REGISTERED NUMBER: 13898234)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 230,928 104,210

Deferred tax (28,600 ) (45,000 )
Tax on profit 202,328 59,210

UK corporation tax has been charged at 25 % (2023 - 21.52 %).

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 800,293 244,586
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 21.520 %)

200,073

52,635

Effects of:
Expenses not deductible for tax purposes 2,965 8,370
Investment income not taxed (8,309 ) (3,999 )
Depreciation on assets not attracting capital allowances 11,424 9,380
Structure and building allowances (5,381 ) (4,079 )
Other adjustments 1,556 (3,097 )
Total tax charge 202,328 59,210

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Gain on revaluation of investments 90,372 - 90,372

2023
Gross Tax Net
£    £    £   
Gain on revaluation of investments 15,074 - 15,074

The net reversal of deferred tax liabilities for the group expected to occur in the next year is £56,000. This expected reversal is due to the movement in the accelerated capital allowances timing differences.

MOLESCROFT FARM ESTATE LIMITED (REGISTERED NUMBER: 13898234)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


9. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


10. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 176,472 131,300

11. TANGIBLE FIXED ASSETS

Group
Freehold Plant and
property Land machinery
£    £    £   
COST
At 1 September 2023 2,474,244 1,489,892 1,677,251
Additions 105,473 - 69,000
Disposals - - (14,500 )
At 31 August 2024 2,579,717 1,489,892 1,731,751
DEPRECIATION
At 1 September 2023 430,380 - 1,103,745
Charge for year 51,595 - 159,259
Eliminated on disposal - - (8,990 )
At 31 August 2024 481,975 - 1,254,014
NET BOOK VALUE
At 31 August 2024 2,097,742 1,489,892 477,737
At 31 August 2023 2,043,864 1,489,892 573,506

MOLESCROFT FARM ESTATE LIMITED (REGISTERED NUMBER: 13898234)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


11. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2023 252,260 55,780 8,378 5,957,805
Additions - - 2,090 176,563
Disposals - (25,885 ) - (40,385 )
At 31 August 2024 252,260 29,895 10,468 6,093,983
DEPRECIATION
At 1 September 2023 143,350 35,405 6,639 1,719,519
Charge for year 11,633 3,778 959 227,224
Eliminated on disposal - (20,622 ) - (29,612 )
At 31 August 2024 154,983 18,561 7,598 1,917,131
NET BOOK VALUE
At 31 August 2024 97,277 11,334 2,870 4,176,852
At 31 August 2023 108,910 20,375 1,739 4,238,286

Included in cost of land and buildings is freehold land of £1,489,892 (2023 - £1,489,892) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 September 2023 270,000
Transfer to ownership (270,000 )
At 31 August 2024 -
DEPRECIATION
At 1 September 2023 127,997
Transfer to ownership (127,997 )
At 31 August 2024 -
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 142,003

MOLESCROFT FARM ESTATE LIMITED (REGISTERED NUMBER: 13898234)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


12. FIXED ASSET INVESTMENTS

Group
Listed Unlisted
investments investments Totals
£    £    £   
COST OR VALUATION
At 1 September 2023 786,053 15 786,068
Additions 44,198 - 44,198
Revaluations 90,372 - 90,372
At 31 August 2024 920,623 15 920,638
NET BOOK VALUE
At 31 August 2024 920,623 15 920,638
At 31 August 2023 786,053 15 786,068

Cost or valuation at 31 August 2024 is represented by:

Listed Unlisted
investments investments Totals
£    £    £   
Valuation in 2024 920,623 - 920,623
Cost - 15 15
920,623 15 920,638
Company
Shares in
group
undertakings
£   
COST
At 1 September 2023
and 31 August 2024 12,522,609
NET BOOK VALUE
At 31 August 2024 12,522,609
At 31 August 2023 12,522,609

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Molescroft Farms Limited
Registered office: Manor Farm, Manor House Lane, Walkington, Beverley, HU17 8SU
Nature of business: Farming
%
Class of shares: holding
Ordinary 100.00

MOLESCROFT FARM ESTATE LIMITED (REGISTERED NUMBER: 13898234)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


12. FIXED ASSET INVESTMENTS - continued

Molescroft Farm Children's Nursery Limited
Registered office: Manor Farm, Manor House Lane, Walkington, Beverley, HU17 8SU
Nature of business: Children's nursery
%
Class of shares: holding
Ordinary 100.00


13. STOCKS

Group
2024 2023
£    £   
Valuation 315,133 299,768

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2024 2023
£    £   
Trade debtors 320,198 157,263
Directors' loan accounts 2,160 2,160
VAT 879 -
Prepayments 16,529 16,506
339,766 175,929

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Hire purchase contracts (see note 16) - 36,250 - -
Trade creditors 128,677 95,912 - -
Tax 191,077 150,447 - -
VAT - 16,197 - -
Other creditors 650 283 100 100
Directors' current accounts 185 185 - -
Directors' loan accounts 85,036 35,036 - -
Accruals and deferred income 72,053 55,186 - -
Accrued expenses 29,659 30,364 - -
507,337 419,860 100 100

MOLESCROFT FARM ESTATE LIMITED (REGISTERED NUMBER: 13898234)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year - 36,250

17. SECURED DEBTS

The following secured debts are included within creditors:

Group
2024 2023
£    £   
Hire purchase contracts - 36,250

Hire purchase liabilities are secured on the asset that were purchased with this finance.

18. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 211,400 240,000

Group
Deferred
tax
£   
Balance at 1 September 2023 240,000
Credit to Income Statement during year (28,600 )
Balance at 31 August 2024 211,400

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
12,522,509 Ordinary £1 12,522,509 12,522,509

MOLESCROFT FARM ESTATE LIMITED (REGISTERED NUMBER: 13898234)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


19. CALLED UP SHARE CAPITAL - continued

The shares that have been allotted, issued and fully paid are divided as follows:

'A''B''C''D''E'
ordinaryordinaryordinaryordinaryordinary
£1,254,593£5,090,085£675,675£2,751,078£2,751,078

All shares rank pari passu in all respects save that dividends may be payable at varying rates on the different classes of shares.

20. RESERVES

Group
Fair
Retained Share Consolidation value
earnings premium reserve reserve Totals
£    £    £    £    £   

At 1 September 2023 3,530,578 698,167 (11,271,509 ) 33,805 (7,008,959 )
Profit for the year 597,965 597,965
Dividends (176,472 ) (176,472 )
Gain on revaluation of
investments

-

-

-

90,372

90,372
At 31 August 2024 3,952,071 698,167 (11,271,509 ) 124,177 (6,497,094 )


21. PENSION COMMITMENTS

The group operates defined contribution pension schemes on behalf of its directors and employees. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost for the year amounts to £38,407 (2023 - £33,503). Included in creditors at the year end is £5,577 (2023 - £4,495) of outstanding contributions.

22. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity
2024 2023
£    £   
Sales 301,736 412,345
Purchases 360,145 468,595
Rents received 26,016 26,016
Amount due from related party 113,363 134,872
Amount due to related party 22,844 -

23. ULTIMATE CONTROLLING PARTY

Molescroft Farm Estate Limited is held under the control of the directors.

24. TRANSACTIONS WITH DIRECTORS

During the year, total dividends of £176,472 (2023 - £131,300) were paid to the directors.