Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312024-08-312025-05-28false4false2023-09-01No description of principal activity4falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00566815 2023-09-01 2024-08-31 00566815 2022-09-01 2023-08-31 00566815 2024-08-31 00566815 2023-08-31 00566815 c:Director3 2023-09-01 2024-08-31 00566815 d:Buildings 2023-09-01 2024-08-31 00566815 d:Buildings 2024-08-31 00566815 d:Buildings 2023-08-31 00566815 d:Buildings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 00566815 d:PlantMachinery 2023-09-01 2024-08-31 00566815 d:PlantMachinery 2024-08-31 00566815 d:PlantMachinery 2023-08-31 00566815 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 00566815 d:MotorVehicles 2023-09-01 2024-08-31 00566815 d:ComputerEquipment 2023-09-01 2024-08-31 00566815 d:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 00566815 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 00566815 d:ComputerSoftware 2024-08-31 00566815 d:ComputerSoftware 2023-08-31 00566815 d:FreeholdInvestmentProperty 2023-09-01 2024-08-31 00566815 d:FreeholdInvestmentProperty 2024-08-31 00566815 d:FreeholdInvestmentProperty 2023-08-31 00566815 d:CurrentFinancialInstruments 2024-08-31 00566815 d:CurrentFinancialInstruments 2023-08-31 00566815 d:Non-currentFinancialInstruments 2024-08-31 00566815 d:Non-currentFinancialInstruments 2023-08-31 00566815 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 00566815 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 00566815 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 00566815 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 00566815 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-08-31 00566815 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 00566815 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-08-31 00566815 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-08-31 00566815 d:ShareCapital 2024-08-31 00566815 d:ShareCapital 2023-08-31 00566815 d:InvestmentPropertiesRevaluationReserve 2023-09-01 2024-08-31 00566815 d:InvestmentPropertiesRevaluationReserve 2024-08-31 00566815 d:InvestmentPropertiesRevaluationReserve 2023-08-31 00566815 d:OtherMiscellaneousReserve 2024-08-31 00566815 d:OtherMiscellaneousReserve 2023-08-31 00566815 d:RetainedEarningsAccumulatedLosses 2023-09-01 2024-08-31 00566815 d:RetainedEarningsAccumulatedLosses 2024-08-31 00566815 d:RetainedEarningsAccumulatedLosses 2023-08-31 00566815 c:FRS102 2023-09-01 2024-08-31 00566815 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 00566815 c:FullAccounts 2023-09-01 2024-08-31 00566815 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 00566815 d:HirePurchaseContracts d:WithinOneYear 2024-08-31 00566815 d:HirePurchaseContracts d:WithinOneYear 2023-08-31 00566815 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-08-31 00566815 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-08-31 00566815 2 2023-09-01 2024-08-31 00566815 6 2023-09-01 2024-08-31 00566815 d:AcceleratedTaxDepreciationDeferredTax 2024-08-31 00566815 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 00566815 d:TaxLossesCarry-forwardsDeferredTax 2024-08-31 00566815 d:TaxLossesCarry-forwardsDeferredTax 2023-08-31 00566815 d:OtherDeferredTax 2024-08-31 00566815 d:OtherDeferredTax 2023-08-31 00566815 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure
Registered number:
                                                                                                                                                     00566815 














TUTTINGTON FARMS LIMITED


UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
TUTTINGTON FARMS LIMITED
 

CONTENTS



Page
Statement of financial position
 
1 - 2
Notes to the financial statements
 
3 - 12


 
TUTTINGTON FARMS LIMITED
REGISTERED NUMBER:00566815

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,054,329
3,050,285

Investments
 6 
50
50

Investment property
 7 
666,246
250,000

  
2,720,625
3,300,335

Current assets
  

Stocks
  
50,015
45,198

Debtors: amounts falling due within one year
 8 
822,463
670,009

Cash at bank and in hand
  
2,097,926
10,036

  
2,970,404
725,243

Creditors: amounts falling due within one year
 9 
(357,024)
(385,850)

Net current assets
  
 
 
2,613,380
 
 
339,393

Total assets less current liabilities
  
5,334,005
3,639,728

Creditors: amounts falling due after more than one year
 10 
(2,882,188)
(2,944,768)

Provisions for liabilities
  

Deferred tax
 13 
(487,234)
(50,138)

  
 
 
(487,234)
 
 
(50,138)

Net assets
  
1,964,583
644,822


Capital and reserves
  

Called up share capital 
  
4,034
4,034

Investment property reserve
 14 
207,500
207,500

Other reserves
  
4,034
4,034

Profit and loss account
 14 
1,749,015
429,254

  
1,964,583
644,822


Page 1

 
TUTTINGTON FARMS LIMITED
REGISTERED NUMBER:00566815
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 May 2025.




................................................
C R Papworth
Director

The notes on pages 6 to 15 form part of these financial statements.

Page 2

 
TUTTINGTON FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Tuttington Farms Limited is a private company limited by shares and incorporated in England and Wales, registration number 00566815. The registered office is Tuttington Hall, Tuttington, Aylsham, Norfolk, NR11 6TL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
TUTTINGTON FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.3

Government grants

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

 
2.4

Interest income

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

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

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

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 4

 
TUTTINGTON FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:.

Depreciation is provided on the following basis:

Freehold land and buildings
-
No depreciation
Plant and machinery
-
20 - 33%
Property improvements
-
10 - 15%
Motor vehicles
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Investment property

Investment property is carried at fair value determined annually by the Directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income statement.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Income statement for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 5

 
TUTTINGTON FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

  
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Work in progress and finished goods include labour and attributable overheads.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Page 6

 
TUTTINGTON FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.17
Financial instruments (continued)

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).


4.


Intangible assets




BPS entitlements

£



Cost


At 1 September 2023
46,431



At 31 August 2024

46,431



Amortisation


At 1 September 2023
46,431



At 31 August 2024

46,431



Net book value



At 31 August 2024
-



At 31 August 2023
-



Page 7

 
TUTTINGTON FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Tangible fixed assets





Freehold property
Other   tangible  fixed assets
Total

£
£
£



Cost or valuation


At 1 September 2023
2,832,984
807,278
3,640,262


Additions
600,820
123,403
724,223


Disposals
(1,662,609)
-
(1,662,609)



At 31 August 2024

1,771,195
930,681
2,701,876



Depreciation


At 1 September 2023
-
589,977
589,977


Charge for the year on owned assets
-
57,570
57,570



At 31 August 2024

-
647,547
647,547



Net book value



At 31 August 2024
1,771,195
283,134
2,054,329



At 31 August 2023
2,832,984
217,301
3,050,285

Depreciation has not been charged on freehold land and buildings which are stated at cost of £1,771,195 (2023: £2,832,984).


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 September 2023
50



At 31 August 2024
50




Page 8

 
TUTTINGTON FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

7.


Investment property


Freehold investment property

£



Valuation


At 1 September 2023
250,000


Additions at cost
416,246



At 31 August 2024
666,246

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

2024
2023
£
£

Revaluation reserves


At 1 September 2023
207,500
207,500

At 31 August 2024
207,500
207,500





8.


Debtors

2024
2023
£
£


Trade debtors
29,208
37,165

Amounts owed by joint ventures and associated undertakings
554,166
583,049

Other debtors
184,803
12,078

Prepayments and accrued income
54,286
37,717

822,463
670,009


Page 9

 
TUTTINGTON FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
73,036

Bank loans
33,900
41,250

Trade creditors
15,292
19,833

Amounts owed to associates
67,197
51,249

Corporation tax
42,525
-

Obligations under finance lease and hire purchase contracts
16,841
16,432

Other creditors
118,982
127,851

Accruals and deferred income
62,287
56,199

357,024
385,850



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
2,882,188
2,927,927

Net obligations under finance leases and hire purchase contracts
-
16,841

2,882,188
2,944,768


Page 10

 
TUTTINGTON FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
33,900
41,250


33,900
41,250


Amounts falling due 2-5 years

Bank loans
41,951
88,631


41,951
88,631

Amounts falling due after more than 5 years

Bank loans
2,840,237
2,839,296

2,840,237
2,839,296

2,916,088
2,969,177


The aggregate amount of creditors for which security has been given amounted to £2,915,429 (2023: £3,047,986).


12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
17,250
17,250

Between 1-5 years
-
17,250

17,250
34,500

Page 11

 
TUTTINGTON FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

13.


Deferred taxation




2024


£






At beginning of year
(50,138)


Charged to profit or loss
(437,096)



At end of year
(487,234)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(99,172)
(73,696)

Tax losses carried forward
46,775
23,558

Capital gains
(434,837)
-

(487,234)
(50,138)


14.


Reserves

Investment property revaluation reserve

The investment property revaluation reserve includes all current and prior period revaluations on invesment properties where the fair value of a property exceeded its original cost. 

Profit & loss account

The profit and loss account includes all current and prior period retained profit and losses. 


15.


Contingent liabilities

The company has guaranteed the bank overdraft of L F Papworth Ltd up to £750,000, and loan facilities of L F Papworth Ltd amounting to £381,807 (2023: £397,538) .


16.


Transactions with directors

At 31 August 2024, the company owed director A K Papworth £118,981 (2023: £127,850), which is shown in other creditors, and was owed by directors C R Papworth £17,000 (2023: £5,000) and J H Beardshaw £115,000 (2023: £nil) which are included in other debtors.


Page 12