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Registration number: 11407289

Richborough Farm Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

(filleted for filing purposes)

 

Richborough Farm Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 9

 

Richborough Farm Limited

Company Information

Directors

D Upton

S C Upton

C Upton

D G Upton

M Clay

Registered office

The New Barn Mill Lane
Eastry
Sandwich
Kent
CT13 0JW

 

Richborough Farm Limited

(Registration number: 11407289)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

17,426

21,853

Investment property

5

1,668,928

1,588,467

 

1,686,354

1,610,320

Current assets

 

Debtors

6

696

832

Cash at bank and in hand

 

21,945

13,663

 

22,641

14,495

Creditors: Amounts falling due within one year

7

(1,587,121)

(1,516,825)

Net current liabilities

 

(1,564,480)

(1,502,330)

Total assets less current liabilities

 

121,874

107,990

Provisions for liabilities

(28,472)

(26,056)

Net assets

 

93,402

81,934

Capital and reserves

 

Called up share capital

8

7

7

Other reserves

129,445

129,445

Retained earnings

(36,050)

(47,518)

Shareholders' funds

 

93,402

81,934

 

Richborough Farm Limited

(Registration number: 11407289)
Balance Sheet as at 30 November 2024

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 June 2025 and signed on its behalf by:
 

.........................................
D Upton
Director

 

Richborough Farm Limited

Statement of Changes in Equity for the Year Ended 30 November 2024

Share capital
£

Non-distributable reserve
£

Retained earnings
£

Total
£

At 1 December 2023

7

129,445

(47,518)

81,934

Profit for the year

-

-

11,468

11,468

At 30 November 2024

7

129,445

(36,050)

93,402

Share capital
£

Non-distributable reserve
£

Retained earnings
£

Total
£

At 1 December 2022

7

116,041

(28,528)

87,520

Loss for the year

-

-

(5,586)

(5,586)

Transfers

-

13,404

(13,404)

-

At 30 November 2023

7

129,445

(47,518)

81,934

 

Richborough Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The New Barn Mill Lane
Eastry
Sandwich
Kent
CT13 0JW
England

These financial statements were authorised for issue by the Board on 3 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Richborough Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Fixtures and fittings

15% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Richborough Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 7).

 

Richborough Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

42,007

1,000

43,007

Additions

1,042

-

1,042

Disposals

(799)

(1,000)

(1,799)

At 30 November 2024

42,250

-

42,250

Depreciation

At 1 December 2023

20,575

579

21,154

Charge for the year

4,471

-

4,471

Eliminated on disposal

(222)

(579)

(801)

At 30 November 2024

24,824

-

24,824

Carrying amount

At 30 November 2024

17,426

-

17,426

At 30 November 2023

21,432

421

21,853

5

Investment properties

2024
£

At 1 December

1,588,467

Additions

80,461

At 30 November

1,668,928

The investment properties were valued on 30 November 2023 by the directors to give a fair value. The basis of this valuation was the open market. The investment properties have a current value of £1,668,928 (2023 £1,588,467) and a carrying amount at historical cost of £1,509,119 (2023 £1,428,658).

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2024
£

2023
£

Prepayments

696

832

 

696

832

 

Richborough Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

9

142,204

60,000

Other related parties

1,442,880

1,454,880

Other creditors

 

2,037

1,945

 

1,587,121

1,516,825

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £0.20 (2023 - £1) each

35

7

7

7

         

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

142,204

60,000