Hanby Estates Ltd 00479671 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is the preservation of woodlands owned by the company for the benefit of future generations. Digita Accounts Production Advanced 6.30.9574.0 true 00479671 2024-01-01 2024-12-31 00479671 2024-12-31 00479671 bus:OrdinaryShareClass1 2024-12-31 00479671 bus:OrdinaryShareClass2 2024-12-31 00479671 core:OtherReservesSubtotal 2024-12-31 00479671 core:RetainedEarningsAccumulatedLosses 2024-12-31 00479671 core:ShareCapital 2024-12-31 00479671 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-12-31 00479671 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-12-31 00479671 core:CurrentFinancialInstruments 2024-12-31 00479671 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 00479671 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 00479671 core:FurnitureFittingsToolsEquipment 2024-12-31 00479671 core:LandBuildings 2024-12-31 00479671 core:MotorVehicles 2024-12-31 00479671 core:OtherPropertyPlantEquipment 2024-12-31 00479671 1 2024-12-31 00479671 bus:SmallEntities 2024-01-01 2024-12-31 00479671 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 00479671 bus:FilletedAccounts 2024-01-01 2024-12-31 00479671 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 00479671 bus:RegisteredOffice 2024-01-01 2024-12-31 00479671 bus:Director3 2024-01-01 2024-12-31 00479671 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 00479671 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 00479671 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 00479671 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 00479671 core:Land 2024-01-01 2024-12-31 00479671 core:LandBuildings 2024-01-01 2024-12-31 00479671 core:MotorVehicles 2024-01-01 2024-12-31 00479671 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 00479671 core:PlantMachinery 2024-01-01 2024-12-31 00479671 1 2024-01-01 2024-12-31 00479671 countries:EnglandWales 2024-01-01 2024-12-31 00479671 1 2024-01-01 2024-12-31 00479671 2023-12-31 00479671 core:FurnitureFittingsToolsEquipment 2023-12-31 00479671 core:LandBuildings 2023-12-31 00479671 core:MotorVehicles 2023-12-31 00479671 core:OtherPropertyPlantEquipment 2023-12-31 00479671 1 2023-12-31 00479671 2023-01-01 2023-12-31 00479671 2023-12-31 00479671 bus:OrdinaryShareClass1 2023-12-31 00479671 bus:OrdinaryShareClass2 2023-12-31 00479671 core:OtherReservesSubtotal 2023-12-31 00479671 core:RetainedEarningsAccumulatedLosses 2023-12-31 00479671 core:ShareCapital 2023-12-31 00479671 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-12-31 00479671 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-12-31 00479671 core:CurrentFinancialInstruments 2023-12-31 00479671 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 00479671 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 00479671 core:FurnitureFittingsToolsEquipment 2023-12-31 00479671 core:LandBuildings 2023-12-31 00479671 core:MotorVehicles 2023-12-31 00479671 core:OtherPropertyPlantEquipment 2023-12-31 00479671 1 2023-12-31 00479671 1 2023-01-01 2023-12-31 00479671 1 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 00479671

Hanby Estates Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Hanby Estates Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Hanby Estates Ltd

(Registration number: 00479671)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

770,032

819,773

Investment property

5

1,220,500

1,096,000

 

1,990,532

1,915,773

Current assets

 

Stocks

6

6,000

10,000

Debtors

7

492,036

383,184

Cash at bank and in hand

 

7,748

53,221

 

505,784

446,405

Creditors: Amounts falling due within one year

8

(62,296)

(81,442)

Net current assets

 

443,488

364,963

Total assets less current liabilities

 

2,434,020

2,280,736

Creditors: Amounts falling due after more than one year

8

(76,063)

(9,502)

Provisions for liabilities

(188,257)

(162,379)

Net assets

 

2,169,700

2,108,855

Capital and reserves

 

Called up share capital

9

3,600

3,600

Other reserves

786,283

692,908

Retained earnings

1,379,817

1,412,347

Shareholders' funds

 

2,169,700

2,108,855

For the financial year ending 31 December 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 and 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 19 August 2025 and signed on its behalf by:
 

.........................................
R A Burridge
Director

 

Hanby Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales and the company registration number is 00479671.

The address of its registered office is:
L&C Farming Co Ltd
Authorpe Grange
Authorpe
Louth
Lincolnshire
LN11 8PD

These financial statements cover the individual entity Hanby Estates Ltd.

These financial statements were authorised for issue by the Board on 19 August 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.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

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.

 

Hanby Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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 represents the future tax consequences of transactions and events recognised in the financial
statements of current and previous periods. It is recognised in respect of all timing differences, with certain
exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements.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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Freehold land

Not depreciated

Freehold buildings

15% reducing balance

General machinery

15% reducing balance

Sawmill machinery

15% reducing balance

Motor vehicles

25% 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.

Dividends

Dividend distributions to the company’s shareholders are recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 3 (2023 - 6).

 

Hanby Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

617,827

3,669

28,500

279,676

929,672

Additions

-

-

55,088

177,119

232,207

Disposals

(18,618)

(3,669)

(28,500)

(290,286)

(341,073)

At 31 December 2024

599,209

-

55,088

166,509

820,806

Depreciation

At 1 January 2024

7,972

2,896

16,646

82,385

109,899

Charge for the year

-

-

13,280

23,348

36,628

Eliminated on disposal

(7,972)

(2,896)

(16,646)

(68,239)

(95,753)

At 31 December 2024

-

-

13,280

37,494

50,774

Carrying amount

At 31 December 2024

599,209

-

41,808

129,015

770,032

At 31 December 2023

609,855

773

11,854

197,291

819,773

Included within the net book value of land and buildings above is £599,209 (2023 - £609,855) in respect of freehold land and buildings.
 

5

Investment properties

2024
£

At 1 January

1,096,000

Fair value adjustments

124,500

At 31 December

1,220,500

The investment property was revalued by the directors in 2024.

 

Hanby Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Stocks

2024
£

2023
£

Other inventories

6,000

10,000

7

Debtors

Current

2024
£

2023
£

Trade debtors

71,495

106,584

Prepayments

16,665

9,469

Other debtors

403,876

267,131

 

492,036

383,184

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Hire purchase liabilities

32,504

30,613

Trade creditors

4,763

13,323

Taxation and social security

4,699

18,196

Accruals and deferred income

18,484

18,367

Other creditors

1,846

943

62,296

81,442

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

76,063

9,502

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,800

1,800

1,800

1,800

Non-voting shares of £1 each

1,800

1,800

1,800

1,800

3,600

3,600

3,600

3,600

 

Hanby Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase liabilities

76,063

9,502

Included within non-current loans and borrowings are hire purchase liabilities totalling £76,063 (2023: £9,502) secured on the assets acquired.

Current loans and borrowings

2024
£

2023
£

Hire purchase liabilities

32,504

30,613

Other borrowings

1,754

-

34,258

30,613

Included within current loans and borrowings are hire purchase liabilities totalling £32,504 (2023: £30,613) secured on the assets acquired.

11

Related party transactions

Transactions with Directors

2024

At 1 January 2024
£

Repayments by Director
£

At 31 December 2024
£

Directors loan account

(18,255)

20,009

1,754

 

2023

At 1 January 2023
£

Repayments by Director
£

At 31 December 2023
£

Directors loan account

(90,464)

72,209

(18,255)

 

A rate of interest of 2.5% has been paid throughout the year on the overdrawn loan account balance.

12

Non adjusting events after the financial period

On 31st January, 2025 the company sold Harrison Wood with a profit realised of £2,081,099. The Woodland contributed to a significant trade but the company will continue to trade its other assets.