Registration number:
J H Hall and Son (Farms) Limited
Chartered Accountants
Registration number:
J H Hall and Son (Farms) Limited
Chartered Accountants
J H Hall and Son (Farms) Limited
Contents
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Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
J H Hall and Son (Farms) Limited
Company Information
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Directors |
Mr D Hall Mrs P M Hall Mr D J Hall |
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Company secretary |
Mrs P M Hall |
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Registered office |
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Accountants |
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
J H Hall and Son (Farms) Limitedfor the Year Ended 31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of J H Hall and Son (Farms) Limited for the year ended 31 March 2025 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of J H Hall and Son (Farms) Limited, as a body, in accordance with the terms of our engagement letter dated 14 May 2019. Our work has been undertaken solely to prepare for your approval the accounts of J H Hall and Son (Farms) Limited and state those matters that we have agreed to state to the Board of Directors of J H Hall and Son (Farms) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J H Hall and Son (Farms) Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that J H Hall and Son (Farms) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of J H Hall and Son (Farms) Limited. You consider that J H Hall and Son (Farms) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of J H Hall and Son (Farms) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Chartered Accountants
34 High East Street
Dorchester
Dorset
DT1 1HA
J H Hall and Son (Farms) Limited
(Registration number: 00562750)
Balance Sheet as at 31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Other financial assets |
16,696 |
15,824 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
3,000 |
3,000 |
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Fair value reserve |
66,609 |
46,328 |
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Profit and loss account |
731,189 |
737,075 |
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Shareholders' funds |
800,798 |
786,403 |
For the financial 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:
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• |
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• |
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 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised for issue by the
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J H Hall and Son (Farms) Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
England
The principal place of business is:
Rogers Hill Farm
Briantspuddle
Dorchester
Dorset
DT2 7HJ
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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.
Going concern
The financial statements have been prepared on a going concern basis.The company meets its day to day working capital requirements through an overdraft facility which is repayable on demand.
The nature of the company's business is such that there can be considerable unpredictable variation in the timing of cash inflows. On the basis of cash flow information and discussions with the company's bankers, the directors considers that the company will continue to operate within the facility currently agreed.
However, the margin of facilities over requirements is not large and, inherently there can be no certainty in relation to these matters. On this basis, the directors considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the overdraft facility by the company's bankers.
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.
J H Hall and Son (Farms) Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025
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.
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 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:
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Asset class |
Depreciation method and rate |
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Leasehold property improvements and equipment |
over 10 years |
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Assets under construction |
not depreciated |
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Implements, tractors, combine harvesters |
over 10 years |
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Office equipment |
over 10 years |
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Motor vehicles |
over 5 years |
Investment property
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.
J H Hall and Son (Farms) Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 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 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.
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
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.
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.
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.
J H Hall and Son (Farms) Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
J H Hall and Son (Farms) Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025
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Tangible assets |
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Long leasehold land and buildings |
Short leasehold land and buildings |
Fixtures and fittings |
Plant and machinery |
Motor vehicles |
Total |
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Cost |
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At 1 April 2024 |
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Additions |
- |
- |
- |
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- |
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Disposals |
- |
- |
- |
( |
- |
( |
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At 31 March 2025 |
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Depreciation |
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At 1 April 2024 |
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Charge for the year |
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- |
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Eliminated on disposal |
- |
- |
- |
( |
- |
( |
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At 31 March 2025 |
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Carrying amount |
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At 31 March 2025 |
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At 31 March 2024 |
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Included within the net book value of land and buildings above is £ 39,367 (2024 - £33,488) in respect of long leasehold land and buildings and £1 (2024 - £1) in respect of short leasehold land and buildings.
J H Hall and Son (Farms) Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025
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Investment properties |
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2025 |
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At 1 April 2022 |
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Fair value adjustments |
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At 31 March 2023 |
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The fair value of investment properties is based on the re-instatement value for insurance purposes calculated by the Company's insurers.
Investment properties on hand at 1 April 2016 are included under Fixed Assets (Note 6). This is because they are on the Landlord's premises and are let on an Agricultural Holdings Act tenancy. It is therefore not possible to establish fair value.
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Investments |
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Financial assets at fair value through profit and loss |
Financial assets at cost less impairment |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 April 2024 |
15,550 |
274 |
15,824 |
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Fair value adjustments |
872 |
- |
872 |
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At 31 March 2025 |
16,422 |
274 |
16,696 |
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Carrying amount |
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At 31 March 2025 |
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16,696 |
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Debtors |
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Current |
2025 |
2024 |
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Trade debtors |
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Prepayments |
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Other debtors |
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J H Hall and Son (Farms) Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Director's loan account |
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Taxation and social security |
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Other creditors |
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Creditors include bank loans and overdrafts which are secured of £24,981 (2024- £24,602).
Creditors: amounts falling due after more than one year
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Note |
2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £4,724 (2024 - £28,621).
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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3,000 |
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3,000 |
J H Hall and Son (Farms) Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025
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Loans and borrowings |
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2025 |
2024 |
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Non-current loans and borrowings |
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Bank borrowings |
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Redeemable preference shares |
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2025 |
2024 |
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Current loans and borrowings |
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Bank borrowings |
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Other borrowings |
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Related party transactions |
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Transactions with directors |
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2025 |
At 1 April 2024 |
At 31 March 2025 |
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Mr D Hall |
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Director's loan |
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2024 |
At 1 April 2023 |
Repayments by director |
At 31 March 2024 |
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Mr D Hall |
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Director's loan |
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( |
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The company rents land from Mr D J Hall and Mrs P M Hall (directors). In the year ended 31 March 2025 Mr D J Hall received rent of £12,604 (2024 £12,604) and Mrs P M Hall received rent of £12,604 (2024 £12,604).
The company also rents land from the David Hall No. 3 Settlement, the trustees of which are Mr D J Hall, Mrs P M Hall and Mr D Hall who are also directors of the company. The Trust received rent of £11,458 in the year ended 31 March 2025 (2023 £11,458).
The Trust also made a loan of £15,000 to the company in the year ended 31 March 2014. The full amount of the loan was still outstanding at 31 March 2025 and is included in Other creditors (note 9). Interest on this loan of £450 was payable by the company to the Trust in respect of the year ended 31 March 2025. (2024 £450).
The total amount owing by the company to the Trust at 31 March 2025 was £36,287 (2024 £29,929)