Hall Farm (Hingham) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00740414

Hall Farm (Hingham) Limited

Unaudited financial statements

31 March 2025

Hall Farm (Hingham) Limited

Statement of financial position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6		2,875,486	2,770,642

Current assets

Stocks		218,650	291,680
Debtors	7	88,654	131,697
Cash at bank and in hand		533,704	451,523
		---------	---------
		841,008	874,900

Creditors: Amounts falling due within one year	8	250,348		248,863
		---------		---------
Net current assets			590,660	626,037
			-----------	-----------
Total assets less current liabilities			3,466,146	3,396,679

Creditors: Amounts falling due after more than one year	9		236,308	258,821

Provisions

Taxation including deferred tax	71,708	131,648
	-----------	-----------
Net assets	3,158,130	3,006,210
	-----------	-----------

Capital and reserves

Called up share capital	10	50,000	50,000
Profit and loss account		3,108,130	2,956,210
		-----------	-----------
Shareholders funds		3,158,130	3,006,210
		-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;

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

Hall Farm (Hingham) Limited

Statement of financial position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 11 December 2025 , and are signed on behalf of the board by:

Mr D J Shingfield

Director

Company registration number: 00740414

Hall Farm (Hingham) Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hall Farm, Hingham, Norfolk, NR9 4PX.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is the total amount receivable by the company for goods supplied and services provided, excluding VAT and trade discounts. Revenue is recognised when the service has been provided or the goods have been delivered.

Income tax

Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	15% reducing balance
Motor vehicles	-	25% reducing balance

A full years depreciation is charged in the year of acquisition. No depreciation is charged on freehold buildings and investment properties, because they are maintained to a high standard so that any depreciation would be immaterial.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. the cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Commodity stocks, livestock and cultivations are valued at the lower of cost and net realisable value by the directors after making due allowance for obsolete and slow moving items. The valuation of crops in store, livestock and cultivations includes an element of depreciation.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Average number of employees

The average number of employees during the year was 7 (2024: 8 ).

5. Tax on profit

Major components of tax (income)/expense

	2025	2024
	£	£

Current tax:

UK current tax expense	24,915	27,159
Adjustments in respect of prior periods	( 1,261)	–
	-------	-------
Total current tax	23,654	27,159
	-------	-------

Deferred tax:

Origination and reversal of timing differences	( 59,940)	17,312
	-------	-------
Tax on profit	( 36,286)	44,471
	-------	-------

6. Tangible assets

	Land and buildings	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2024	2,562,277	413,433	124,867	3,100,577
Additions	21,921	78,272	75,759	175,952
Disposals	–	( 5,207)	( 26,241)	( 31,448)
	-----------	---------	---------	-----------
At 31 March 2025	2,584,198	486,498	174,385	3,245,081
	-----------	---------	---------	-----------
Depreciation
At 1 April 2024	–	265,893	64,042	329,935
Charge for the year	–	31,948	33,674	65,622
Disposals	–	( 2,489)	( 23,473)	( 25,962)
	-----------	---------	---------	-----------
At 31 March 2025	–	295,352	74,243	369,595
	-----------	---------	---------	-----------
Carrying amount
At 31 March 2025	2,584,198	191,146	100,142	2,875,486
	-----------	---------	---------	-----------
At 31 March 2024	2,562,277	147,540	60,825	2,770,642
	-----------	---------	---------	-----------

7. Debtors

	2025	2024
	£	£
Trade debtors	28,806	30,358
Other debtors	59,848	101,339
	-------	---------
	88,654	131,697
	-------	---------

8. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	19,311	15,558
Trade creditors	85,419	87,670
Social security and other taxes	26,626	29,065
Other creditors	118,992	116,570
	---------	---------
	250,348	248,863
	---------	---------

Included in creditors falling due within one year are bank loans and overdrafts of £19,311 (2024 - £15,558) secured by the company.

9. Creditors: Amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	236,308	258,821
	---------	---------

Included in creditors falling due after more than one year are bank loans and overdrafts of £236,308 (2024 - £258,821) secured by the company.

Included within creditors: amounts falling due after more than one year is an amount of £162,086 (2024: £196,591) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

10. Called up share capital

Authorised share capital

	2025		2024
	No.	£	No.	£
Ordinary A shares of £ 1 each	30,000	30,000	30,000	30,000
Ordinary C shares of £ 1 each	10,000	10,000	10,000	10,000
Ordinary E shares of £ 1 each	10,000	10,000	10,000	10,000
	-------	-------	-------	-------
	50,000	50,000	50,000	50,000
	-------	-------	-------	-------

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary A shares of £ 1 each	30,000	30,000	30,000	30,000
Ordinary C shares of £ 1 each	10,000	10,000	10,000	10,000
Ordinary E shares of £ 1 each	10,000	10,000	10,000	10,000
	-------	-------	-------	-------
	50,000	50,000	50,000	50,000
	-------	-------	-------	-------

All of the ordinary share capital have the same rights and obligations.

11. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	48,280	48,280
	-------	-------