AH Farms Ltd - Period Ending 2022-01-31
AH Farms Ltd - Period Ending 2022-01-31
Registration number:
AH Farms Ltd
for the Year Ended 31 January 2022
AH Farms Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
AH Farms Ltd
Company Information
Directors |
A M Spencer H E Sharpe I D Fisher K A Pinder |
Registered office |
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Auditors |
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AH Farms Ltd
(Registration number: 11454371)
Balance Sheet as at 31 January 2022
Note |
2022 |
2021 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Other financial assets |
5 |
5 |
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|
|
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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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|
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
10,000 |
10,000 |
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Profit and loss account |
8,301,980 |
8,164,612 |
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Shareholders' funds |
8,311,980 |
8,174,612 |
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 by the
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AH Farms Ltd
Notes to the Financial Statements for the Year Ended 31 January 2022
General information |
The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 11454371.
The address of its registered office is:
United Kingdom
These financial statements cover the individual entity, AH Farms Ltd.
These financial statements were authorised for issue by the
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
Audit report
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 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.
AH Farms Ltd
Notes to the Financial Statements for the Year Ended 31 January 2022
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 |
Land |
Not depreciated |
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:
Asset class |
Amortisation method and rate |
Entitlements |
8 years straight line basis |
Crop Storage Rights |
Not amortised |
Stocks
The basis of valuation is as follows:
Raw materials and consumables are stated at the lower of cost or net realisable value.
Tenantright is calculated by a combination of actual costs incurred and standard costs.
Produce on hand is valued at standard cost.
Standard costings are based upon calculations prepared by the Central Association of Agricultural Valuers.
The basis of valuation is consistent with previous years.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
AH Farms Ltd
Notes to the Financial Statements for the Year Ended 31 January 2022
Intangible assets |
Crop Storage Rights |
Basic Payment Entitlements |
Total |
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Cost or valuation |
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At 1 February 2021 |
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At 31 January 2022 |
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Amortisation |
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At 1 February 2021 |
- |
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Amortisation charge |
- |
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At 31 January 2022 |
- |
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Carrying amount |
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At 31 January 2022 |
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At 31 January 2021 |
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Tangible assets |
Land and buildings |
Total |
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Cost or valuation |
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At 1 February 2021 |
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At 31 January 2022 |
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Depreciation |
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Carrying amount |
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At 31 January 2022 |
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At 31 January 2021 |
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AH Farms Ltd
Notes to the Financial Statements for the Year Ended 31 January 2022
Other financial assets (current and non-current) |
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 February 2021 |
5 |
5 |
At 31 January 2022 |
5 |
5 |
Impairment |
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Carrying amount |
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At 31 January 2022 |
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5 |
Stocks |
2022 |
2021 |
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Tenantright |
|
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Finished goods and goods for resale |
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|
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Debtors |
2022 |
2021 |
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Trade debtors |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2022 |
2021 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Accruals and deferred income |
127,758 |
20,477 |
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AH Farms Ltd
Notes to the Financial Statements for the Year Ended 31 January 2022
Share capital |
Allotted, called up and fully paid shares
2022 |
2021 |
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No. |
£ |
No. |
£ |
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|
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10,000 |
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10,000 |