Roydon Hall Farms Limited - Accounts to registrar (filleted) - small 22.3
Roydon Hall Farms Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 28 February 2022 |
| for |
| Roydon Hall Farms Limited |
| Roydon Hall Farms Limited (Registered number: 03134605) |
| Contents of the Financial Statements |
| for the Year Ended 28 February 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Roydon Hall Farms Limited |
| Company Information |
| for the Year Ended 28 February 2022 |
| Director: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| Chartered accountants |
| 22-26 King Street |
| King's Lynn |
| Norfolk |
| PE30 1HJ |
| Roydon Hall Farms Limited (Registered number: 03134605) |
| Balance Sheet |
| 28 February 2022 |
| 28.2.22 | 28.2.21 |
| Notes | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Stocks |
| Debtors | 5 |
| Investments | 6 |
| Creditors |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Retained earnings |
| Shareholders' funds |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| Roydon Hall Farms Limited (Registered number: 03134605) |
| Balance Sheet - continued |
| 28 February 2022 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| Roydon Hall Farms Limited (Registered number: 03134605) |
| Notes to the Financial Statements |
| for the Year Ended 28 February 2022 |
| 1. | Statement of compliance |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| 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. |
| Significant judgements and estimates |
| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Freehold property | - |
| Long leasehold | - |
| Plant and machinery | - |
| Office equipment | - |
| Motor vehicles | - |
| Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. |
| An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Roydon Hall Farms Limited (Registered number: 03134605) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2022 |
| 2. | Accounting policies - continued |
| Financial instruments |
| The company classifies its financial instruments in the following categories: measured at amortised cost; and measured at fair value through profit and loss. The classification is determined at initial recognition and depends on the purpose for which the financial instruments are required. |
| Measured at amortised cost includes non-derivative financial assets and liabilities with fixed or determinable payments that are not quoted in an active market. Financial assets are included in current assets, except where the maturity date is more than 12 months after the end of the reporting period. They are initially recorded at fair value and subsequently recorded at amortised cost. Financial liabilities are included in current liabilities, except where the maturity date is more than 12 months after the end of the reporting period. They are initially measured at original cost, less amortisation or provisions raised. |
| Measured at fair value through profit and loss includes financial assets and liabilities. They are classified according to maturity date, within current and non-current assets and liabilities respectively. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| Roydon Hall Farms Limited (Registered number: 03134605) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2022 |
| 4. | Tangible fixed assets |
| Freehold | Long | Plant and |
| property | leasehold | machinery |
| £ | £ | £ |
| Cost |
| At 1 March 2021 |
| Additions |
| Disposals | ( |
) |
| At 28 February 2022 |
| Depreciation |
| At 1 March 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 28 February 2022 |
| Net book value |
| At 28 February 2022 |
| At 28 February 2021 |
| Office | Motor |
| equipment | vehicles | Totals |
| £ | £ | £ |
| Cost |
| At 1 March 2021 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 28 February 2022 |
| Depreciation |
| At 1 March 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 28 February 2022 |
| Net book value |
| At 28 February 2022 |
| At 28 February 2021 |
| Roydon Hall Farms Limited (Registered number: 03134605) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2022 |
| 5. | Debtors: amounts falling due within one year |
| 28.2.22 | 28.2.21 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | Current asset investments |
| 28.2.22 | 28.2.21 |
| £ | £ |
| Other investments |
| 7. | Creditors: amounts falling due within one year |
| 28.2.22 | 28.2.21 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | Creditors: amounts falling due after more than one year |
| 28.2.22 | 28.2.21 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| 9. | Secured debts |
| The following secured debts are included within creditors: |
| 28.2.22 | 28.2.21 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| Hire purchase contracts | 117,393 | 90,950 |
| Roydon Hall Farms Limited (Registered number: 03134605) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2022 |
| 10. | Director's advances, credits and guarantees |
| During the year there were net transactions with the director of £140 (2021: £13,029). At the balance sheet date, an amount of £139 was owed to the director by the company (2021: £1 owed by the director to the company). |
| All loans are unsecured and repayable on demand. No interest is charged on the directors loan account. |
| 11. | Related party disclosures |
| The company was under the control of its Director throughout the current and previous year. |
| The Director has provided security for the company's bank borrowings by way of a legal mortgage over the personally owned farm property. This is to support the security provided by the company. |
| No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A. |