Caseware UK (AP4) 2023.0.135 2023.0.135 52023-10-01falseThe principal activity of the company is farming and horticulture5truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00729086 2023-10-01 2024-09-30 00729086 2022-10-01 2023-09-30 00729086 2024-09-30 00729086 2023-09-30 00729086 2022-10-01 00729086 c:Director1 2023-10-01 2024-09-30 00729086 d:Buildings 2023-10-01 2024-09-30 00729086 d:Buildings 2024-09-30 00729086 d:Buildings 2023-09-30 00729086 d:Buildings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 00729086 d:Buildings d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 00729086 d:PlantMachinery 2023-10-01 2024-09-30 00729086 d:PlantMachinery 2024-09-30 00729086 d:PlantMachinery 2023-09-30 00729086 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 00729086 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 00729086 d:MotorVehicles 2023-10-01 2024-09-30 00729086 d:MotorVehicles 2024-09-30 00729086 d:MotorVehicles 2023-09-30 00729086 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 00729086 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 00729086 d:OtherPropertyPlantEquipment 2023-10-01 2024-09-30 00729086 d:OtherPropertyPlantEquipment 2024-09-30 00729086 d:OtherPropertyPlantEquipment 2023-09-30 00729086 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 00729086 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 00729086 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 00729086 d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 00729086 d:CurrentFinancialInstruments 2024-09-30 00729086 d:CurrentFinancialInstruments 2023-09-30 00729086 d:Non-currentFinancialInstruments 2024-09-30 00729086 d:Non-currentFinancialInstruments 2023-09-30 00729086 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 00729086 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 00729086 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 00729086 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 00729086 d:ShareCapital 2024-09-30 00729086 d:ShareCapital 2023-09-30 00729086 d:RetainedEarningsAccumulatedLosses 2024-09-30 00729086 d:RetainedEarningsAccumulatedLosses 2023-09-30 00729086 c:FRS102 2023-10-01 2024-09-30 00729086 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 00729086 c:FullAccounts 2023-10-01 2024-09-30 00729086 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 00729086 d:HirePurchaseContracts d:WithinOneYear 2024-09-30 00729086 d:HirePurchaseContracts d:WithinOneYear 2023-09-30 00729086 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-09-30 00729086 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-09-30 00729086 d:AcceleratedTaxDepreciationDeferredTax 2024-09-30 00729086 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 00729086 d:OtherDeferredTax 2024-09-30 00729086 d:OtherDeferredTax 2023-09-30 00729086 2 2023-10-01 2024-09-30 00729086 6 2023-10-01 2024-09-30 00729086 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-09-30 00729086 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-09-30 00729086 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-09-30 00729086 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-09-30 00729086 d:LeasedAssetsHeldAsLessee 2024-09-30 00729086 d:LeasedAssetsHeldAsLessee 2023-09-30 00729086 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure
Registered number: 00729086

















North Hill Farms Limited
Unaudited
Financial statements
Information for filing with the registrar
For the Year Ended 30 September 2024









Fletcher & Partners
Chartered Accountants
Salisbury

 
North Hill Farms Limited
Registered number: 00729086

Balance Sheet
As at 30 September 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,531,670
1,560,677

Investments
 5 
166
166

  
1,531,836
1,560,843

Current assets
  

Stocks
 6 
1,659,914
1,742,655

Debtors: amounts falling due within one year
 7 
155,974
323,726

Cash at bank and in hand
 8 
1,326,036
1,425,567

  
3,141,924
3,491,948

Creditors: amounts falling due within one year
 9 
(802,894)
(976,864)

Net current assets
  
 
 
2,339,030
 
 
2,515,084

Total assets less current liabilities
  
3,870,866
4,075,927

Creditors: amounts falling due after more than one year
 10 
(179,527)
(176,114)

Provisions for liabilities
  

Deferred tax
 12 
(354,690)
(359,870)

  
 
 
(354,690)
 
 
(359,870)

Net assets
  
3,336,649
3,539,943


Capital and reserves
  

Called up share capital 
  
502,000
502,000

Profit and loss account
  
2,834,649
3,037,943

  
3,336,649
3,539,943


The director considers 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 director acknowledges his 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 statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
North Hill Farms Limited
Registered number: 00729086

Balance Sheet (continued)
As at 30 September 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 June 2025.


The Rt. Hon. William Herbert, Earl of Pembroke
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
North Hill Farms Limited
 

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

1.


General information

North Hills Farms Limited is a private company limited by shares and incorporated in England.Its registered office is The Estate Office, Wilton, Salisbury, Wiltshire, SP2 0BJ.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue 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 revenue 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.

Page 3

 
North Hill Farms Limited
 

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

2.Accounting policies (continued)

 
2.3

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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%
Plant and machinery
-
10%
Motor vehicles
-
20%

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.

 
2.4

Valuation of investments

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.

 
2.5

Stocks

Stock is valued at the lower of cost and net realisable value.  Cost is defined as being expenditure which has been incurred in the normal course of business in bringing the product to its present location and includes an appropriate proportion of fixed overheads in relation to harvest.  Net realisable value is defined as the estimated selling prices less any further costs to completion and selling prices.

 
2.6

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.

 
2.7

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.

 
2.8

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.

Page 4

 
North Hill Farms Limited
 

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

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.11

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.

 
2.12

Interest income

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

 
2.13

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 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 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 balance sheet date.



3.


Employees

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

Page 5

 
North Hill Farms Limited
 

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

4.


Tangible fixed assets





Property Improvem't
Plant and machinery
Motor vehicles, tractors & combines
Production Herd
Total

£
£
£
£
£



Cost or valuation


At 1 October 2023
195,657
2,323,338
1,115,689
2,760
3,637,444


Additions
3,802
38,092
203,848
-
245,742


Disposals
-
(849)
(151,741)
-
(152,590)



At 30 September 2024

199,459
2,360,581
1,167,796
2,760
3,730,596



Depreciation


At 1 October 2023
170,658
1,234,398
671,711
-
2,076,767


Charge for the year on owned assets
2,500
81,835
69,997
-
154,332


Charge for the year on financed assets
-
31,086
52,201
-
83,287


Disposals
-
(553)
(114,907)
-
(115,460)



At 30 September 2024

173,158
1,346,766
679,002
-
2,198,926



Net book value



At 30 September 2024
26,301
1,013,815
488,794
2,760
1,531,670



At 30 September 2023
24,999
1,088,940
443,978
2,760
1,560,677

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
279,785
310,872

Motor vehicles, tractors and combines
208,806
391,624

488,591
702,496

Page 6

 
North Hill Farms Limited
 

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

5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 October 2023
166



At 30 September 2024
166





6.


Stocks

2024
2023
£
£

Livestock, hay, tenant rights and growing crops
1,659,914
1,742,655

1,659,914
1,742,655



7.


Debtors

2024
2023
£
£


Trade debtors
39,180
258,925

Other debtors
27,773
12,462

Prepayments and accrued income
89,021
52,339

155,974
323,726



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,326,036
1,425,567

1,326,036
1,425,567


Page 7

 
North Hill Farms Limited
 

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

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
297,278
329,487

Corporation tax
457
236,754

Obligations under finance lease and hire purchase contracts
113,348
237,686

Other creditors
240,000
-

Accruals and deferred income
151,811
172,937

802,894
976,864



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
162,027
156,114

Accruals and deferred income
17,500
20,000

179,527
176,114



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
113,348
237,686

Between 1-5 years
162,027
156,114

275,375
393,800


12.


Deferred taxation




2024
2023


£

£






At beginning of year
(359,870)
(378,372)


Utilised in year
5,180
18,502



At end of year
(354,690)
(359,870)

Page 8

 
North Hill Farms Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 September 2024
 
12.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(317,297)
(318,322)

Rollover relief
(37,393)
(41,548)

(354,690)
(359,870)


13.


Pension commitments

The company operates a defined contribution pension scheme.  The assets of the scheme are held separately from those of the company in an independently administered fund.  The pension cost charged represents contributions payable by the company to the fund and amounted to £12,667 (2023: £12,511).  Retirement benefits are accruing to one director under the scheme amounted to £1,200 (2023: £1,200)


Page 9