Bollington Hall Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04788507 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

BOLLINGTON HALL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R G Pryor

F A Pryor

J F Pryor

REGISTERED OFFICE:

Bollington Hall Farm

Ugley

Bishops Stortford

Hertfordshire

CM22 6HS

REGISTERED NUMBER:

04788507 (England and Wales)

ACCOUNTANTS:

THP Limited

Chartered Accountants

34-40 High Street

Wanstead

London

E11 2RJ

FIXED ASSETS

Tangible assets

4

9,862,024

9,931,012

CURRENT ASSETS

Debtors

5

382,118

327,895

Cash at bank

6,946

51,602

389,064

379,497

CREDITORS

Amounts falling due within one year

6

50,157

62,827

NET CURRENT ASSETS

338,907

316,670

TOTAL ASSETS LESS CURRENT LIABILITIES

10,200,931

10,247,682

PROVISIONS FOR LIABILITIES

752,456

752,456

NET ASSETS

9,448,475

9,495,226

CAPITAL AND RESERVES

Called up share capital

36,242

36,242

Share premium

3,863,760

3,863,760

Revaluation reserve

7

5,482,550

5,482,550

Retained earnings

65,923

112,674

SHAREHOLDERS' FUNDS

9,448,475

9,495,226

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2021 and were signed on its behalf by:

R G Pryor - Director

1.	STATUTORY INFORMATION

Bollington Hall Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods and services supplied, net of returns, discounts and value added taxes. The VAT rate applied to crops is zero percent as foods are classified as zero rated supplies.

Contract farming revenue is recognised in the accounting period in which the services were rendered.

Farming income is recognised when goods are delivered to the customer, such that the risks and rewards of ownership have passed to them.

Tangible fixed assets

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

Freehold land and buildings

-

2% on cost

Freehold land is not depreciated.

Included in land and buildings are solar panels which are depreciated at 5% on cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Rental income

Rental income is recognised on a receivable basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

land and

buildings

£

COST OR VALUATION

At 1 April 2020

and 31 March 2021

10,000,000

DEPRECIATION

At 1 April 2020

68,988

Charge for year

68,988

At 31 March 2021

137,976

NET BOOK VALUE

At 31 March 2021

9,862,024

At 31 March 2020

9,931,012

Included in cost or valuation of land and buildings is freehold land of £ 7,363,866 (2020 - £ 7,363,866 ) which is not depreciated.

Cost or valuation at 31 March 2021 is represented by:

Freehold

land and

buildings

£

Valuation in 2019

2,701,832

Cost

7,298,168

10,000,000

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2021

2020

£

£

Cost

7,298,168

7,298,168

Aggregate depreciation

342,563

315,252

Value of land in freehold land and buildings

7,363,866

7,363,866

Freehold land and buildings were valued on an open market basis on 31 March 2021 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

3,646

5,917

Amounts owed by related parties

369,177

316,666

Other debtors

9,295

5,312

382,118

327,895

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

7,851

1,068

Amounts owed to related parties

8,172

28,556

Taxation and social security

17,186

25,074

Other creditors

16,948

8,129

50,157

62,827

7.

RESERVES

Revaluation

reserve

£

At 1 April 2020

and 31 March 2021

5,482,550

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2021 and 31 March 2020:

2021

2020

£

£

R G Pryor

Balance outstanding at start of year

1,043

1,106

Amounts repaid

(1,043

)

(63

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

1,043

The loan was interest free.

9.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Pryor Farms Holdings Limited, whose registered office is the same as the company's registered office.

The company is controlled by R G Pryor.