Broomer Farm Trading Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01007863

Unaudited Financial Statements for the Year Ended 31 March 2022

for

BROOMER FARM TRADING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D A Finnamore

Mrs D Finnamore

Mrs K A Moss

Mrs E H Grubb

T Grubb

SECRETARY:

D A Finnamore

REGISTERED OFFICE:

Oakwood

Lock Lane

Birdham

Chichester

West Sussex

PO20 7AX

REGISTERED NUMBER:

01007863

ACCOUNTANTS:

Lees Chartered Accountants

The Granary

Brewer Street

Bletchingley

Surrey

RH1 4QP

FIXED ASSETS

Intangible assets

4

300,000

300,000

Tangible assets

5

13,692,148

13,715,289

13,992,148

14,015,289

CURRENT ASSETS

Stocks

68,636

67,218

Debtors

6

1,818,747

1,786,254

Cash at bank and in hand

362,544

772,451

2,249,927

2,625,923

CREDITORS

Amounts falling due within one year

7

1,161,605

1,576,138

NET CURRENT ASSETS

1,088,322

1,049,785

TOTAL ASSETS LESS CURRENT LIABILITIES

15,080,470

15,065,074

CREDITORS

Amounts falling due after more than one year

8

(2,045,557

)

(2,796,960

)

PROVISIONS FOR LIABILITIES

(45,693

)

(373,040

)

NET ASSETS

12,989,220

11,895,074

CAPITAL AND RESERVES

Called up share capital

71,250

71,250

Revaluation reserve

9

7,984,907

7,984,907

Retained earnings

4,933,063

3,838,917

12,989,220

11,895,074

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 Board of Directors and authorised for issue on 6 December 2022 and were signed on its behalf by:

Mrs E H Grubb - Director

1.	STATUTORY INFORMATION

Broomer Farm Trading Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

in accordance with the property

Plant and machinery etc

-

33% on cost, 25% on cost and 10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 25 (2021 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2021

and 31 March 2022

300,000

NET BOOK VALUE

At 31 March 2022

300,000

At 31 March 2021

300,000

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 April 2021

13,364,549

1,104,376

14,468,925

Additions

-

70,429

70,429

At 31 March 2022

13,364,549

1,174,805

14,539,354

DEPRECIATION

At 1 April 2021

-

753,636

753,636

Charge for year

-

93,570

93,570

At 31 March 2022

-

847,206

847,206

NET BOOK VALUE

At 31 March 2022

13,364,549

327,599

13,692,148

At 31 March 2021

13,364,549

350,740

13,715,289

Cost or valuation at 31 March 2022 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2002

426,392

-

426,392

Valuation in 2005

997,948

-

997,948

Valuation in 2014

473,019

-

473,019

Valuation in 2020

6,419,263

-

6,419,263

Valuation in 2021

5,033,378

-

5,033,378

Cost

14,549

1,174,805

1,189,354

13,364,549

1,174,805

14,539,354

6.

DEBTORS

31.3.22

31.3.21

£

£

Amounts falling due within one year:

Trade debtors

192,771

35,681

Other debtors

315

24,723

193,086

60,404

Amounts falling due after more than one year:

Other debtors

1,625,661

1,725,850

Aggregate amounts

1,818,747

1,786,254

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Payments on account

457,276

207,580

Trade creditors

131,401

109,344

Amounts owed to group undertakings

-

910,000

Taxation and social security

277,961

125,060

Other creditors

294,967

224,154

1,161,605

1,576,138

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans

1,388,318

2,796,960

Other creditors

657,239

-

2,045,557

2,796,960

31.3.22

31.3.21

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,388,318

2,796,960

9.

RESERVES

Revaluation

reserve

£

At 1 April 2021

and 31 March 2022

7,984,907