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Registration number: 00582381

James Hartley (Poppylot Farms) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2025

 

James Hartley (Poppylot Farms) Ltd

Contents

Company Information

1

Statement of financial position

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

James Hartley (Poppylot Farms) Ltd

Company Information

Directors

Mr C Hartley

Mrs V B Hartley

Registered office

36 Church Road
Wimbotsham
King's Lynn
Norfolk
PE34 3QG

Accountants

Hayhow & Co
Chartered Certified Accountants & Business Advisers19 King Street
King's Lynn
Norfolk
PE30 1HB

 

James Hartley (Poppylot Farms) Ltd

(Registration number: 00582381)
Statement of financial position as at 30 April 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

2,501

2,501

Tangible assets

5

485,780

560,952

Other financial assets

6

52

52

 

488,333

563,505

Current assets

 

Stocks

7

364,509

459,049

Debtors

8

177,023

97,505

Cash at bank and in hand

 

234,083

305,689

 

775,615

862,243

Creditors: Amounts falling due within one year

9

(263,074)

(406,364)

Net current assets

 

512,541

455,879

Total assets less current liabilities

 

1,000,874

1,019,384

Creditors: Amounts falling due after more than one year

9

(48,482)

(130,768)

Provisions for liabilities

(110,948)

(129,393)

Net assets

 

841,444

759,223

Capital and reserves

 

Called up share capital

10

82

82

Capital redemption reserve

15

15

Revaluation reserve

40,000

40,000

Retained earnings

801,347

719,126

Shareholders' funds

 

841,444

759,223

For the financial year ending 30 April 2025 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 Statement of comprehensive income.

Approved and authorised by the Board on 22 August 2025 and signed on its behalf by:
 

 

James Hartley (Poppylot Farms) Ltd

(Registration number: 00582381)
Statement of financial position as at 30 April 2025

.........................................
Mr C Hartley
Director

 

James Hartley (Poppylot Farms) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1

General information

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

The address of its registered office is:
36 Church Road
Wimbotsham
King's Lynn
Norfolk
PE34 3QG

These financial statements were authorised for issue by the Board on 22 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.

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 current and 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

James Hartley (Poppylot Farms) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

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.

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 and property

No depreciation

Plant and machinery

25% reducing balance

Fittings fixtures and equipment

25% reducing balance

Motor vehicles

25% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation rate is revised prospectively to reflect the new estimates.

Asset class

Amortisation method and rate

Other intangible assets

Written down to £1

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.

 

James Hartley (Poppylot Farms) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

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.

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 statement of comprehensive income 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

James Hartley (Poppylot Farms) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

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.

Dividends

Dividend distribution to the company’s shareholders is 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 (2024 - 3).

 

James Hartley (Poppylot Farms) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 May 2024

14,996

14,996

At 30 April 2025

14,996

14,996

Amortisation

At 1 May 2024

12,495

12,495

At 30 April 2025

12,495

12,495

Carrying amount

At 30 April 2025

2,501

2,501

At 30 April 2024

2,501

2,501

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2024

193,018

1,062,779

48,845

1,304,642

Additions

-

38,705

-

38,705

At 30 April 2025

193,018

1,101,484

48,845

1,343,347

Depreciation

At 1 May 2024

43,277

669,280

31,133

743,690

Charge for the year

1,392

108,056

4,429

113,877

At 30 April 2025

44,669

777,336

35,562

857,567

Carrying amount

At 30 April 2025

148,349

324,148

13,283

485,780

At 30 April 2024

149,741

393,499

17,712

560,952

Included within the net book value of land and buildings above is £148,349 (2024 - £149,741) in respect of freehold land and buildings.
 

 

James Hartley (Poppylot Farms) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 May 2024

52

52

At 30 April 2025

52

52

Impairment

Carrying amount

At 30 April 2025

52

52

7

Stocks

2025
£

2024
£

Raw materials and consumables

56,404

145,334

Work in progress

34,890

62,469

Finished goods and goods for resale

273,215

251,246

364,509

459,049

8

Debtors

Current

2025
£

2024
£

Trade debtors

45,330

52,148

Prepayments

28,412

23,160

Other debtors

103,281

22,197

 

177,023

97,505

9

Creditors

Creditors: amounts falling due within one year

 

James Hartley (Poppylot Farms) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

92,824

139,581

Trade creditors

 

77,757

183,467

Amounts due to related parties

11

-

17,330

Social security and other taxes

 

917

-

Outstanding defined contribution pension costs

 

199

-

Other payables

 

4,553

2,662

Accruals

 

6,375

4,610

Tax liability

80,449

58,714

 

263,074

406,364

Due after one year

 

Loans and borrowings

48,482

130,768

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £92,824 (2024 - £139,581).

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

48,482

130,768

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £48,482 (2024 - £130,768).

10

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary A of £1 each

51

51

51

51

Ordinary B of £1 each

21

21

21

21

Ordinary C of £1 each

4

4

4

4

Ordinary D of £1 each

6

6

6

6

82

82

82

82

Each share is entitled to one vote in any circumstances and each share is also entitled pari passu to dividend payments or any other distribution, including a distribution arising from a winding up of the company.

 

James Hartley (Poppylot Farms) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

11

Related party transactions

Transactions with directors

2025

At 1 May 2024
£

Advances to director
£

At 30 April 2025
£

Mr C Hartley

-

100,273

100,273

Other transactions with directors

This loan will be repaid within 9 months of the year end.