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Registered number: 04480604










HAZELL AND JEFFERIES FARMS LIMITED








UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

 
HAZELL AND JEFFERIES FARMS LIMITED
 

COMPANY INFORMATION


Director
R E Hazell 




Company secretary
F J Hazell



Registered number
04480604



Registered office
Mount Pleasant Farm
Coombe End

Whitchurch Hill

Pangbourne

Berkshire

RG8 7TB




Accountants
James Cowper Kreston
Chartered Accountants

2 Communications Road

Greenham Business Park

Greenham

Newbury

Berkshire

RG19 6AB





 
HAZELL AND JEFFERIES FARMS LIMITED
 

CONTENTS



Page
Director's Report
1
Accountants' Report
2
Statement of Comprehensive Income
3
Balance Sheet
4 - 5
Notes to the Financial Statements
6 - 12


 
HAZELL AND JEFFERIES FARMS LIMITED
 

 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 OCTOBER 2024

The director presents his report and the financial statements for the year ended 31 October 2024.

Director

The director who served during the year was:

R E Hazell 

Small companies note

In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





R E Hazell
Director

Date: 11 July 2025

Page 1

 
HAZELL AND JEFFERIES FARMS LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HAZELL AND JEFFERIES FARMS LIMITED
FOR THE YEAR ENDED 31 OCTOBER 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 Hazell and Jefferies Farms Limited for the year ended 31 October 2024 which comprise the Statement of Comprehensive Income, 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 director of Hazell and Jefferies Farms Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Hazell and Jefferies Farms Limited and state those matters that we have agreed to state to the director of Hazell and Jefferies Farms Limited 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 Hazell and Jefferies Farms Limited and its director for our work or for this report. 

It is your duty to ensure that Hazell and Jefferies 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 loss of Hazell and Jefferies Farms Limited. You consider that Hazell and Jefferies 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 Hazell and Jefferies 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.

  



James Cowper Kreston
 
Chartered Accountants
  
2 Communications Road
Greenham Business Park
Greenham
Newbury
Berkshire
RG19 6AB
16 July 2025
Page 2

 
HAZELL AND JEFFERIES FARMS LIMITED
 

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2024

2024
2023
Note
£
£

  

Turnover
  
111,203
96,630

Cost of sales
  
(28,463)
(26,145)

Gross profit
  
82,740
70,485

Administrative expenses
  
(134,305)
(86,335)

Sale of property
  
-
967,701

Operating (loss)/profit
  
(51,565)
951,851

Interest receivable and income
  
-
21

Interest payable and expenses
  
(5)
(4)

(Loss)/profit before tax
  
(51,570)
951,868

Tax on (loss)/profit
 4 
10,379
3,411

(Loss)/profit for the financial year
  
(41,191)
955,279

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 6 to 12 form part of these financial statements.

Page 3

 
HAZELL AND JEFFERIES FARMS LIMITED
REGISTERED NUMBER: 04480604

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 6 
3,784,980
3,789,618

  
3,784,980
3,789,618

Current assets
  

Stocks
 7 
84,635
36,211

Debtors: amounts falling due within one year
 8 
62,483
65,876

Cash at bank and in hand
 9 
46,237
61,571

  
193,355
163,658

  

Creditors: amounts falling due within one year
 10 
(183,024)
(116,773)

Net current assets
  
 
 
10,331
 
 
46,885

Total assets less current liabilities
  
3,795,311
3,836,503

  

Net assets
  
3,795,311
3,836,503


Capital and reserves
  

Called up share capital 
  
500
500

Revaluation reserve
  
394,909
394,909

Other reserves
  
500
500

Profit and loss account
  
3,399,402
3,440,594

  
3,795,311
3,836,503


Page 4

 
HAZELL AND JEFFERIES FARMS LIMITED
REGISTERED NUMBER: 04480604

BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

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 were approved and authorised for issue by the board and were signed on its behalf by: 




R E Hazell
Director

Date: 11 July 2025

The notes on pages 6 to 12 form part of these financial statements.

Page 5

 
HAZELL AND JEFFERIES FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Hazell and Jefferies Farms Limited is a limited liability company incorporated in England and Wales. 
The address of its registered office and principal place of business is Mount Pleasant Farm, Coombe End, Whitchurch Hill, Pangbourne, Berkshire, RG8 7TB.

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

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.

 
2.3

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.

Page 6

 
HAZELL AND JEFFERIES FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.4

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.


 
2.5

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.6

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, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
Nil
Plant and machinery
-
25%
Property improvements
-
10%

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.

Page 7

 
HAZELL AND JEFFERIES FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.7

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

  
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, net realisable valu being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a normal farming practice basis.
At each balance sheet 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.

  
2.9

Biological Assets

Cattle are recognised as biological assets and are accounted for at fair value in accordance with FRS 102.  Biological assets are revalued annually and not depreciated. 

 
2.10

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.

 
2.11

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.

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 8

 
HAZELL AND JEFFERIES FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
(11,393)
-


(11,393)
-


Total current tax
(11,393)
-

Deferred tax


Origination and reversal of timing differences
1,014
(3,411)

Total deferred tax
1,014
(3,411)


Taxation on loss on ordinary activities
(10,379)
(3,411)

Factors affecting tax charge for the year

There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of25% (2023 - 25%).



5.


Exceptional items

2024
2023
£
£


Sale of property
-
(967,701)

-
(967,701)

Page 9

 
HAZELL AND JEFFERIES FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Tangible fixed assets





Freehold property
Plant and machinery
Property improvements
Total

£
£
£
£



Cost or valuation


At 1 November 2023
3,782,320
560,794
50,623
4,393,737



At 31 October 2024

3,782,320
560,794
50,623
4,393,737



Depreciation


At 1 November 2023
-
553,496
50,623
604,119


Charge for the year on owned assets
-
4,638
-
4,638



At 31 October 2024

-
558,134
50,623
608,757



Net book value



At 31 October 2024
3,782,320
2,660
-
3,784,980



At 31 October 2023
3,782,320
7,298
-
3,789,618

Page 10

 
HAZELL AND JEFFERIES FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

7.


Stocks

2024
2023
£
£

Hay, silage and straw
47,235
17,011

Biological assets
37,400
19,200

84,635
36,211



8.


Debtors

2024
2023
£
£


Trade debtors
25,564
7,905

Amounts owed by group undertakings
4,314
37,465

Other debtors
9,600
-

Prepayments and accrued income
10,947
18,827

Tax recoverable
11,393
-

Deferred taxation
665
1,679

62,483
65,876



9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
46,237
61,571

46,237
61,571



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
25,992
-

Other taxation and social security
-
7,108

Other creditors
145,104
101,360

Accruals and deferred income
11,928
8,305

183,024
116,773


Page 11

 
HAZELL AND JEFFERIES FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

11.


Deferred taxation




2024


£






At beginning of year
1,679


Charged to profit or loss
(1,014)



At end of year
665

The deferred tax asset is made up as follows:

2024
2023
£
£


Fixed asset timing differences
665
(391)

Losses and other deductions
-
2,070

665
1,679



Page 12