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REGISTERED NUMBER: 08651342 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Higher Farm (Manston) Limited

Higher Farm (Manston) Limited (Registered number: 08651342)

Contents of the Financial Statements
for the Year Ended 30 September 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


Higher Farm (Manston) Limited (Registered number: 08651342)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,967,612 2,924,182
Biological Assets 6 263,837 261,530
3,231,449 3,185,712

CURRENT ASSETS
Stocks 7 126,708 124,750
Debtors 8 139,292 108,096
266,000 232,846
CREDITORS
Amounts falling due within one year 9 536,146 358,660
NET CURRENT LIABILITIES (270,146 ) (125,814 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,961,303 3,059,898

CREDITORS
Amounts falling due after more than one year 10 (1,327,469 ) (1,397,749 )

PROVISIONS FOR LIABILITIES (12,468 ) (8,457 )
NET ASSETS 1,621,366 1,653,692

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,621,266 1,653,592
1,621,366 1,653,692

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Higher Farm (Manston) Limited (Registered number: 08651342)

Balance Sheet - continued
30 September 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 June 2025 and were signed on its behalf by:




Mr D F Honeybun - Director



Miss C E Mills - Director


Higher Farm (Manston) Limited (Registered number: 08651342)

Notes to the Financial Statements
for the Year Ended 30 September 2024


1. STATUTORY INFORMATION

Higher Farm (Manston) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08651342

Registered office: Higher Farm
Manston
Sturminster Newton
Dorset
DT10 1EZ

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

BPS Entitlements are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value. Home grown produce has been valued in accordance with H M Revenue & Customs guidance HS232.

Financial instruments
Classification
The company holds the following financial instruments:

Short term debtors and creditors;
Cash and bank balances; and
Unlisted investments.

All financial instruments are classified as basic.

Recognition and measurement
The company has elected to apply the provisions FRS102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transition costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


Higher Farm (Manston) Limited (Registered number: 08651342)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
BPS
Entitlements
£   
COST
At 1 October 2023
and 30 September 2024 24,750
AMORTISATION
At 1 October 2023
and 30 September 2024 24,750
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

Higher Farm (Manston) Limited (Registered number: 08651342)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 2,892,966 168,550 3,061,516
Additions 47,693 5,976 53,669
Disposals - (1,250 ) (1,250 )
At 30 September 2024 2,940,659 173,276 3,113,935
DEPRECIATION
At 1 October 2023 - 137,334 137,334
Charge for year - 9,302 9,302
Eliminated on disposal - (313 ) (313 )
At 30 September 2024 - 146,323 146,323
NET BOOK VALUE
At 30 September 2024 2,940,659 26,953 2,967,612
At 30 September 2023 2,892,966 31,216 2,924,182

6. BIOLOGICAL ASSETS
Herd
£   
COST
At 1 October 2023 228,601
Additions 84,948
Disposals (56,309 )
At 30 September 2024 257,240
DEPRECIATION
At 1 October 2023 (32,929 )
Charge for year 2,752
Eliminated on disposal 23,580
At 30 September 2024 (6,597 )
NET BOOK VALUE
At 30 September 2024 263,837
At 30 September 2023 261,530

7. STOCKS
2024 2023
£    £   
Stocks 126,708 124,750

Higher Farm (Manston) Limited (Registered number: 08651342)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 57,662 56,178
Other debtors 16,223 -
Directors' loan accounts 48,069 40,024
VAT 8,855 7,411
Prepayments and accrued income 8,483 4,483
139,292 108,096

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 357,378 221,622
Trade creditors 101,948 73,704
Tax 38,740 38,939
Directors' loan accounts 14,799 401
Accrued expenses 23,281 23,994
536,146 358,660

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 264,262 255,725
Bank loans more 5 yr by instal 1,063,207 1,142,024
1,327,469 1,397,749

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,063,207 1,142,024

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 241,854 157,691
Bank loans 1,442,993 1,461,680
1,684,847 1,619,371

The bank overdraft and loans are secured against Higher Farm Manston, which is owned within the company.

Higher Farm (Manston) Limited (Registered number: 08651342)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
Mr D F Honeybun
Balance outstanding at start of year 40,022 (1,358 )
Amounts advanced 99,973 73,962
Amounts repaid (91,926 ) (32,582 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 48,069 40,022

Miss C E Mills
Balance outstanding at start of year (400 ) (22,742 )
Amounts advanced 46,464 40,803
Amounts repaid (60,863 ) (18,461 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (14,799 ) (400 )

Interest has been charged on overdrawn balances at the HMRC actual official rate of interest.