IRIS Accounts Production v25.1.4.42 02092388 Board of Directors 1.11.23 31.10.24 31.10.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh020923882023-10-31020923882024-10-31020923882023-11-012024-10-31020923882022-10-31020923882022-11-012023-10-31020923882023-10-3102092388ns15:EnglandWales2023-11-012024-10-3102092388ns14:PoundSterling2023-11-012024-10-3102092388ns10:Director12023-11-012024-10-3102092388ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3102092388ns10:SmallEntities2023-11-012024-10-3102092388ns10:AuditExempt-NoAccountantsReport2023-11-012024-10-3102092388ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3102092388ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3102092388ns10:FullAccounts2023-11-012024-10-3102092388ns10:Director22023-11-012024-10-3102092388ns10:Director32023-11-012024-10-3102092388ns10:CompanySecretary12023-11-012024-10-3102092388ns10:RegisteredOffice2023-11-012024-10-3102092388ns5:CurrentFinancialInstruments2024-10-3102092388ns5:CurrentFinancialInstruments2023-10-3102092388ns5:Non-currentFinancialInstruments2024-10-3102092388ns5:Non-currentFinancialInstruments2023-10-3102092388ns5:ShareCapital2024-10-3102092388ns5:ShareCapital2023-10-3102092388ns5:RetainedEarningsAccumulatedLosses2024-10-3102092388ns5:RetainedEarningsAccumulatedLosses2023-10-3102092388ns5:LandBuildings2023-10-3102092388ns5:LeaseholdImprovements2023-10-3102092388ns5:PlantMachinery2023-10-3102092388ns5:LandBuildings2023-11-012024-10-3102092388ns5:LeaseholdImprovements2023-11-012024-10-3102092388ns5:PlantMachinery2023-11-012024-10-3102092388ns5:LandBuildings2024-10-3102092388ns5:LeaseholdImprovements2024-10-3102092388ns5:PlantMachinery2024-10-3102092388ns5:LandBuildings2023-10-3102092388ns5:LeaseholdImprovements2023-10-3102092388ns5:PlantMachinery2023-10-3102092388ns5:MotorVehicles2023-10-3102092388ns5:ComputerEquipment2023-10-3102092388ns5:MotorVehicles2023-11-012024-10-3102092388ns5:ComputerEquipment2023-11-012024-10-3102092388ns5:MotorVehicles2024-10-3102092388ns5:ComputerEquipment2024-10-3102092388ns5:MotorVehicles2023-10-3102092388ns5:ComputerEquipment2023-10-3102092388ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-3102092388ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-3102092388ns5:Secured2024-10-3102092388ns5:Secured2023-10-31
REGISTERED NUMBER: 02092388 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Richard Beldam Farms Limited

Richard Beldam Farms Limited (Registered number: 02092388)

Contents of the Financial Statements
for the Year Ended 31 October 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Richard Beldam Farms Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mr R C Beldam
Mrs J V Beldam
Mr C R Beldam





SECRETARY: Mr R C Beldam





REGISTERED OFFICE: East Lodge Farm
Cheltenham Road
Stanton
Broadway
Worcestershire
WR12 7NH





REGISTERED NUMBER: 02092388 (England and Wales)





ACCOUNTANTS: Richard Clarke & Co (At Your Service) Ltd
Unit 3, Mobbs Miller House
Christchurch Road
Northampton
Northamptonshire
NN1 5LL

Richard Beldam Farms Limited (Registered number: 02092388)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,102,755 6,130,503

CURRENT ASSETS
Stocks 1,430,154 1,713,128
Debtors 5 448,552 712,632
Cash at bank 2,179,089 102,122
4,057,795 2,527,882
CREDITORS
Amounts falling due within one year 6 833,806 400,440
NET CURRENT ASSETS 3,223,989 2,127,442
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,326,744

8,257,945

CREDITORS
Amounts falling due after more than one year 7 (1,700,000 ) (1,833,544 )

PROVISIONS FOR LIABILITIES (766,633 ) (651,197 )
NET ASSETS 6,860,111 5,773,204

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 6,860,011 5,773,104
SHAREHOLDERS' FUNDS 6,860,111 5,773,204

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2025 and were signed on its behalf by:



Mr R C Beldam - Director


Richard Beldam Farms Limited (Registered number: 02092388)

Notes to the Financial Statements
for the Year Ended 31 October 2024


1. STATUTORY INFORMATION

Richard Beldam Farms Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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
The turnover shown in the profit and loss account represents amounts receivable for goods and services sold during the year, exclusive of VAT, but does not include the proportion of direct costs recharged to the company's customers at cost under shared farming agreements, these items being set against the relevant costs incurred on behalf of the company's share farming customers.

In respect of long-term contracts and contracts for on going services, turnover represents the value of the work done during the year, including estimates of amounts not invoiced by reference to the stage of completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
- Freehold land - not provided
- Improvements to property - 2.5% on cost, 5% on cost
- Plant and machinery - 5% on cost
- Motor vehicles - 20% on cost
- Office equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost or net realisable value.

The cost of seeds, fertilisers, sprays and fuels in store is determined principally on a first in first out basis. In the case of harvested crops, cost is based on all direct expenditure incurred in production. Work-in-progress consists of cultivations and acts of husbandry which are valued on the basis of all direct expenditure incurred.

Net realisable value is the price at which the stock can be realised in the normal course of business.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Richard Beldam Farms Limited (Registered number: 02092388)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Basic farm payment subsidy income
The basic farm payment subsidy income receivable by the company, which was de-linked from underlying agricultural land and cross compliance obligations with effect from 1 January 2024, is recognised pro-rata according to the calendar year to which the subsidy income relates.

Directors' pension schemes
None of the company directors have any interest in any money purchase or defined benefit pension schemes administered by the company. The company did not make any contributions to personal pension schemes held in the personal names of the directors in either the year under review or the preceding year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
Cost
At 1 November 2023 3,371,016 416,261 4,102,518
Additions 1,357,738 7,965 657,168
Disposals (1,836,413 ) - (120,900 )
At 31 October 2024 2,892,341 424,226 4,638,786
Depreciation
At 1 November 2023 - 63,371 1,696,689
Charge for year - 13,533 200,384
Eliminated on disposal - - (120,900 )
At 31 October 2024 - 76,904 1,776,173
Net book value
At 31 October 2024 2,892,341 347,322 2,862,613
At 31 October 2023 3,371,016 352,890 2,405,829

Richard Beldam Farms Limited (Registered number: 02092388)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


4. TANGIBLE FIXED ASSETS - continued

Motor Office
vehicles equipment Totals
£    £    £   
Cost
At 1 November 2023 32,300 3,175 7,925,270
Additions - - 2,022,871
Disposals - (1,734 ) (1,959,047 )
At 31 October 2024 32,300 1,441 7,989,094
Depreciation
At 1 November 2023 32,300 2,407 1,794,767
Charge for year - 289 214,206
Eliminated on disposal - (1,734 ) (122,634 )
At 31 October 2024 32,300 962 1,886,339
Net book value
At 31 October 2024 - 479 6,102,755
At 31 October 2023 - 768 6,130,503

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 96,906 229,609
Other debtors 351,646 483,023
448,552 712,632

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 2,560
Trade creditors 152,292 193,725
Taxation and social security 251,586 8,166
Other creditors 429,928 195,989
833,806 400,440

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 1,700,000 1,833,544

Richard Beldam Farms Limited (Registered number: 02092388)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,700,000 1,836,104

Bank borrowings are secured by two fixed charges over the company's freehold property. Mr R C Beldam and Mrs J V Beldam, directors of the company, have also given the company's bankers various charges over personal assets to secure any bank borrowings.