Company Registration No. 04954144 (England and Wales)
Eversfield Organic Limited
Unaudited accounts
for the year ended 31 March 2021
Eversfield Organic Limited
Unaudited accounts
Contents
Eversfield Organic Limited
Company Information
for the year ended 31 March 2021
Directors
M Bury
A Elliot
H Bury
Company Number
04954144 (England and Wales)
Registered Office
Ellacott Barton
Bratton Clovelly
Near Okehampton
Devon
EX20 4LB
Accountants
EllamWalker Ltd
Sydeham Farm
Rackenford
Tiverton
Devon
EX16 8ER
Eversfield Organic Limited
Statement of financial position
as at 31 March 2021
Intangible assets
168,902
154,627
Tangible assets
561,518
380,184
Inventories
264,159
225,045
Cash at bank and in hand
21,604
57,062
Creditors: amounts falling due within one year
(1,375,977)
(1,176,047)
Net current liabilities
(7,350)
(107,325)
Total assets less current liabilities
723,070
427,486
Creditors: amounts falling due after more than one year
(1,450,503)
(1,561,512)
Net liabilities
(727,433)
(1,134,026)
Called up share capital
251,000
251,000
Profit and loss account
(978,433)
(1,385,026)
Shareholders' funds
(727,433)
(1,134,026)
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 July 2021 and were signed on its behalf by
M Bury
Director
Company Registration No. 04954144
Eversfield Organic Limited
Notes to the Accounts
for the year ended 31 March 2021
Eversfield Organic Limited is a private company, limited by shares, registered in England and Wales, registration number 04954144. The registered office is Ellacott Barton, Bratton Clovelly, Near Okehampton, Devon, EX20 4LB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents net invoiced sales of organic produce, excluding value added tax.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% Reducing balance
Plant & machinery
20% Reducing balance
Motor vehicles
20% Reducing balance
Fixtures & fittings
20% Reducing balance
Computer equipment
25% Reducing balance
Other tangible fixed assets
10% Straight Line
Intangible fixed assets (including purchased goodwill and software) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Eversfield Organic Limited
Notes to the Accounts
for the year ended 31 March 2021
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
The accounts have been prepared on a going concern basis due to the profitability of the business and the future business forecasts. The managing director has no intention of withdrawing his financial support.
4
Intangible fixed assets
Goodwill
Other
Total
At 1 April 2020
34,881
158,440
193,321
At 31 March 2021
34,881
185,383
220,264
At 1 April 2020
25,094
13,600
38,694
Charge for the year
1,807
10,861
12,668
At 31 March 2021
26,901
24,461
51,362
At 31 March 2021
7,980
160,922
168,902
At 31 March 2020
9,787
144,840
154,627
Eversfield Organic Limited
Notes to the Accounts
for the year ended 31 March 2021
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 April 2020
176,622
499,095
29,653
4,000
21,306
730,676
Additions
192,593
54,862
23,750
8,609
2,108
281,922
Disposals
(2,692)
-
-
-
-
(2,692)
At 31 March 2021
366,523
553,957
53,403
12,609
23,414
1,009,906
At 1 April 2020
56,434
270,050
6,329
800
16,879
350,492
Charge for the year
28,233
56,763
9,415
2,362
1,634
98,407
On disposals
(511)
-
-
-
-
(511)
At 31 March 2021
84,156
326,813
15,744
3,162
18,513
448,388
At 31 March 2021
282,367
227,144
37,659
9,447
4,901
561,518
At 31 March 2020
120,188
229,045
23,324
3,200
4,427
380,184
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Land and buildings
14,090
-
- Plant & machinery
124,311
106,482
- Motor vehicles
35,000
20,000
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Debtors: amounts falling due within one year
2021
2020
Trade debtors
393,419
213,920
Amounts due from group undertakings etc.
538,535
427,178
Accrued income and prepayments
130,655
90,884
7
Creditors: amounts falling due within one year
2021
2020
Obligations under finance leases and hire purchase contracts
68,840
68,176
Trade creditors
1,046,384
816,455
Amounts owed to group undertakings and other participating interests
50,000
-
Taxes and social security
99,612
84,369
Other creditors
69,150
72,269
The obligations under finance leases and hire purchase contracts of £68,840 (2020 - £68,176) will be secured against the machinery purchased.
Eversfield Organic Limited
Notes to the Accounts
for the year ended 31 March 2021
8
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
78,863
75,769
Other creditors
1,249,249
1,392,686
The obligations under finance leases and hire purchase contracts of £78,863 (2020 - £75,769) will be secured against the machinery purchased.
Allotted, called up and fully paid:
251,000 Ordinary shares of £1 each
251,000
251,000
10
Transactions with related parties
The company has a loan account with the director, Mr MP Bury. The loan is interest free and repayable on demand. At no point in the year was the company owed money from the director.
At the year end the company owed £1,247,266 (2020 - £1,392,690) to Mr Bury, on which no interest is being charged.
The company also has a loan account with Mr Bury's wife, Mrs E Bury. The loan is interest free and repayable on demand. At the year end the company owed £58,693 (2020 - £69,70) to Mrs Bury.
The parent company is Eversfield Organic Holdings Ltd, Ellacott Barton, Bratton Clovelly, Okehampton, Devon, EX20 4LB
The parent company is exempt from preparing group accounts as the group is small.
12
Average number of employees
During the year the average number of employees was 64 (2020: 36).
