Registered number
00388376
Bedingfield Hall Farms Limited
Unaudited Filleted Accounts
30 September 2024
Bedingfield Hall Farms Limited
Registered number: 00388376
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,410,941 3,336,957
Current assets
Stocks 842,546 829,711
Debtors 4 211,809 303,962
Investments held as current assets 5 71,992 65,926
Cash at bank and in hand 45,546 33,755
1,171,893 1,233,354
Creditors: amounts falling due within one year 7 (484,931) (375,802)
Net current assets 686,962 857,552
Total assets less current liabilities 4,097,903 4,194,509
Creditors: amounts falling due after more than one year 8 (1,007,948) (1,111,383)
Provisions for liabilities (346,220) (348,616)
Net assets 2,743,735 2,734,510
Capital and reserves
Called up share capital 5,000 5,000
Profit and loss account 2,738,735 2,729,510
Shareholders' funds 2,743,735 2,734,510
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
David Scott
Director
Approved by the board on 23 April 2025
Bedingfield Hall Farms Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Land and buildings Plant and machinery Total
£ £ £
Cost
At 1 October 2023 2,493,419 1,716,635 4,210,054
Additions 110,143 234,763 344,906
Disposals - (113,378) (113,378)
At 30 September 2024 2,603,562 1,838,020 4,441,582
Depreciation
At 1 October 2023 92,750 780,347 873,097
Charge for the year 23,117 201,267 224,384
On disposals - (66,840) (66,840)
At 30 September 2024 115,867 914,774 1,030,641
Net book value
At 30 September 2024 2,487,695 923,246 3,410,941
At 30 September 2023 2,400,669 936,288 3,336,957
4 Debtors 2024 2023
£ £
Trade debtors 138,280 254,683
Other debtors 73,529 49,279
211,809 303,962
5 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 71,992 65,926
Unlisted Investments represent the company interest in the Scott machinery partnership
6 Scott Machinery partnership 2024 2023
£ £
Balance sheet at 31 March 2024
Fixed assets 104,139 104,290
Current assets 50,836 36,212
Creditors (22,132) (2,077)
Partners accounts 132,843 138,425
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 31,884 30,584
Obligations under finance lease and hire purchase contracts 120,006 142,052
Trade creditors 80,814 126,558
Corporation tax 32,783 -
Other taxes and social security costs - 815
Other creditors 219,444 75,793
484,931 375,802
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 561,826 595,041
Obligations under finance lease and hire purchase contracts 96,122 166,342
Other creditors 350,000 350,000
1,007,948 1,111,383
9 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 473,106 512,687
Secured bank loans 593,710 625,625
Security is provided by charges over the Freehold property owned by the company.
10 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 62,800 62,800
11 Other information
Bedingfield Hall Farms Limited is a private company limited by shares and incorporated in England. Its registered office is:
Bedingfield Hall
Bedingfield
Eye
Suffolk
IP23 7LJ
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