Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302025-05-272024-09-302025-05-27The tax expense for the year comprises current and deferred tax. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.7trueFarming2023-10-01false5trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00371846 2023-10-01 2024-09-30 00371846 2022-10-01 2023-09-30 00371846 2024-09-30 00371846 2023-09-30 00371846 c:Director1 2023-10-01 2024-09-30 00371846 c:Director2 2023-10-01 2024-09-30 00371846 c:Director3 2023-10-01 2024-09-30 00371846 c:Director4 2023-10-01 2024-09-30 00371846 c:Director5 2023-10-01 2024-09-30 00371846 c:RegisteredOffice 2023-10-01 2024-09-30 00371846 d:Buildings 2023-10-01 2024-09-30 00371846 d:Buildings 2024-09-30 00371846 d:Buildings 2023-09-30 00371846 d:Buildings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 00371846 d:Buildings d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 00371846 d:PlantMachinery 2023-10-01 2024-09-30 00371846 d:PlantMachinery 2024-09-30 00371846 d:PlantMachinery 2023-09-30 00371846 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 00371846 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 00371846 d:MotorVehicles 2023-10-01 2024-09-30 00371846 d:MotorVehicles 2024-09-30 00371846 d:MotorVehicles 2023-09-30 00371846 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 00371846 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 00371846 d:FurnitureFittings 2023-10-01 2024-09-30 00371846 d:FurnitureFittings 2024-09-30 00371846 d:FurnitureFittings 2023-09-30 00371846 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 00371846 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 00371846 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 00371846 d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 00371846 d:CurrentFinancialInstruments 2024-09-30 00371846 d:CurrentFinancialInstruments 2023-09-30 00371846 d:Non-currentFinancialInstruments 2024-09-30 00371846 d:Non-currentFinancialInstruments 2023-09-30 00371846 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 00371846 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 00371846 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 00371846 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 00371846 d:ShareCapital 2024-09-30 00371846 d:ShareCapital 2023-09-30 00371846 d:OtherMiscellaneousReserve 2023-10-01 2024-09-30 00371846 d:OtherMiscellaneousReserve 2024-09-30 00371846 d:OtherMiscellaneousReserve 2023-09-30 00371846 d:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 00371846 d:RetainedEarningsAccumulatedLosses 2024-09-30 00371846 d:RetainedEarningsAccumulatedLosses 2023-09-30 00371846 c:OrdinaryShareClass1 2023-10-01 2024-09-30 00371846 c:OrdinaryShareClass1 2024-09-30 00371846 c:FRS102 2023-10-01 2024-09-30 00371846 c:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 00371846 c:FullAccounts 2023-10-01 2024-09-30 00371846 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 00371846 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-10-01 2024-09-30 00371846 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-09-30 00371846 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-09-30 00371846 6 2023-10-01 2024-09-30 00371846 e:PoundSterling 2023-10-01 2024-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00371846










BARNINGHAM FARMS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
BARNINGHAM FARMS LIMITED
 
 
COMPANY INFORMATION


Directors
R G Seaman 
Mrs S Seaman 
G W Seaman 
P J G Seaman 
T H Seaman 




Registered number
00371846



Registered office
7 The Close

Norwich

Norfolk

NR1 4DJ




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
BARNINGHAM FARMS LIMITED
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2 - 3
Notes to the Financial Statements
 
 
4 - 10


 
BARNINGHAM FARMS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BARNINGHAM FARMS LIMITED
FOR THE YEAR ENDED 30 SEPTEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Barningham Farms Limited for the year ended 30 September 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

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

This report is made solely to the Board of Directors of Barningham Farms Limited, as a body, in accordance with the terms of our engagement letter dated 30 October 2020Our work has been undertaken solely to prepare for your approval the financial statements of Barningham Farms Limited and state those matters that we have agreed to state to the Board of Directors of Barningham Farms Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Barningham Farms Limited and its Board of Directors, as a body, for our work or for this report. 

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

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

  





MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ

27 May 2025
Page 1

 
BARNINGHAM FARMS LIMITED
REGISTERED NUMBER: 00371846

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
184,980
111,239

Investments
 5 
29,504
30,832

  
214,484
142,071

Current assets
  

Stocks
  
336,435
305,035

Debtors: amounts falling due within one year
 6 
143,030
103,451

Cash at bank and in hand
  
-
43,387

  
479,465
451,873

Creditors: amounts falling due within one year
 7 
(252,822)
(195,569)

Net current assets
  
 
 
226,643
 
 
256,304

Total assets less current liabilities
  
441,127
398,375

Creditors: amounts falling due after more than one year
 8 
(46,551)
(20,000)

Provisions for liabilities
  

Deferred tax
  
(9,940)
(26,256)

Net assets
  
384,636
352,119


Capital and reserves
  

Called up share capital 
 9 
10,000
10,000

Other reserves
 10 
29,253
30,581

Profit and loss account
 10 
345,383
311,538

  
384,636
352,119


Page 2

 
BARNINGHAM FARMS LIMITED
REGISTERED NUMBER: 00371846
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 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 profit and loss account 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 27 May 2025.






R G Seaman
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
BARNINGHAM FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

The Company is a private company limited by shares. It is both incorporated and domiciled in England and Wales. The registered office address of the company is 7 The Close, Norwich, Norfolk, NR1 4DJ. The principal place of business of the Company is Barningham, Norfolk.
The Company's principal activity continues to be that of farming.

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 following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises revenue recognised by the Company in respect of crops and livestock sold, work done, rents and grants receivable, exclusive of Value Added Tax.
Revenue is recognised in the following manner:-

Crops and livestock sold - on physical delivery to the customer;
Work done - on completion of engagement;
Rents - amounts receivable in the year;
Grants income - in the year when the qualifying conditions entitling payment are met.

 
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 Profit and Loss Account in the same period as the related expenditure.

 
2.4

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.

 
2.5

Borrowing costs

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

Page 4

 
BARNINGHAM FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

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.

Page 5

 
BARNINGHAM FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Property improvements
-
10%
reducing balance
Plant and equipment
-
15%
reducing balance
Motor vehicles
-
25%
reducing balance
Tractors
-
15%
reducing balance

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

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

 
2.9

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account 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 balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.10

Stocks

Stocks and closing valuation for cultivations (work in progress) are valued at the lower of cost and net realisable value. Costs have been determined from cost of production calculations. Net realisable value represents estimated selling price for produce in store with values reduced in accordance with guidance within H M Revenue & Customs help sheet HS232. Consumable stocks are valued at cost.

 
2.11

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.

 
2.12

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.

Page 6

 
BARNINGHAM FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.13

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.

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
Debt instruments that are payable or receivable within one year, typically trade debtors and  creditors, are measured at the undiscounted amount of the cash or other consideration expected to  be paid or received.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 5).

Page 7

 
BARNINGHAM FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Leasehold property improvements
Plant & machinery
Motor vehicles
Tractors
Total

£
£
£
£
£



Cost or valuation


At 1 October 2023
100,003
94,333
17,495
208,783
420,614


Additions
-
-
-
108,000
108,000


Disposals
-
-
-
(33,193)
(33,193)



At 30 September 2024

100,003
94,333
17,495
283,590
495,421



Depreciation


At 1 October 2023
93,788
62,948
16,181
136,458
309,375


Charge for the year on owned assets
681
4,683
328
10,581
16,273


Charge for the year on financed assets
-
-
-
16,200
16,200


Disposals
-
-
-
(31,407)
(31,407)



At 30 September 2024

94,469
67,631
16,509
131,832
310,441



Net book value



At 30 September 2024
5,534
26,702
986
151,758
184,980



At 30 September 2023
6,215
31,385
1,314
72,325
111,239


5.


Fixed asset investments





Listed investments
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 October 2023
30,581
251
30,832


Revaluations
(1,328)
-
(1,328)



At 30 September 2024
29,253
251
29,504




Page 8

 
BARNINGHAM FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Debtors

2024
2023
£
£


Trade debtors
111,364
84,439

Other debtors
31,666
19,012

143,030
103,451



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
34,470
-

Bank loans
10,000
10,000

Trade creditors
48,955
40,655

Other taxation and social security
-
9,703

Obligations under finance lease and hire purchase contracts
20,886
-

Other creditors
112,591
113,696

Accruals and deferred income
25,920
21,515

252,822
195,569


The obligations under finance lease and hire purchase contracts are secured on the assets financed.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
10,001
20,000

Net obligations under finance leases and hire purchase contracts
36,550
-

46,551
20,000



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10,000 Ordinary shares of £1.00 each
10,000
10,000


Page 9

 
BARNINGHAM FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10.


Reserves

Other reserves

The fair value reserve represents the cumulative value of revaluations of the Company's listed investment  to fair value, net of deferred tax.  The amounts debited or credited to this reserve are transfers from the profit and loss account. Deferred tax is provided for on these fair value adjustments at the standard rate of corporation tax applicable in the UK.

Profit & loss account

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


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £6,484 (2023 - £3,757). Contributions totalling £4,000 (2023 - £4,000) were payable to the fund at the balance sheet date.


12.


Related party transactions

At the year end the balance on one of the directors loan account was £11,992 (2023 - £13,011). This loan is interest free, repayable on demand, and is included within other creditors in note 7 to the financial statements.

Page 10