Goldthorpe Farming Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 03574891 (England and Wales)

GOLDTHORPE FARMING LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C A Goldthorpe

H Mc Goldthorpe

Mrs F M Goldthorpe

SECRETARY:

Mrs. C J Parkinson

REGISTERED OFFICE:

Fosterhouse Farm,

Fosterhouses,

Doncaster.

DN7 5LF

REGISTERED NUMBER:

03574891 (England and Wales)

ACCOUNTANTS:

W H Prior

Chartered Certified Accountants

Railway Court

Off Ten Pound Walk

Doncaster

South Yorkshire

DN4 5FB

BANKERS:

Handelsbanken plc

Thorpe House

Sidings Court

Doncaster

DN4 5NU

SOLICITORS:

hlw Keeble Hawson LLP

14 Prince's Street

Doncaster

DN1 3NJ

FIXED ASSETS

Tangible assets

4

4,625,760

3,798,135

CURRENT ASSETS

Stocks

56,311

22,612

Debtors

5

861,640

686,280

Investments

6

10,121

74,019

Cash at bank and in hand

543,456

1,276,141

1,471,528

2,059,052

CREDITORS

Amounts falling due within one year

7

175,052

201,974

NET CURRENT ASSETS

1,296,476

1,857,078

TOTAL ASSETS LESS CURRENT LIABILITIES

5,922,236

5,655,213

PROVISIONS FOR LIABILITIES

63,594

53,569

NET ASSETS

5,858,642

5,601,644

CAPITAL AND RESERVES

Called up share capital

7,500

7,500

Retained earnings

5,851,142

5,594,144

SHAREHOLDERS' FUNDS

5,858,642

5,601,644

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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 28th June 2023 and were signed on its behalf by:

H Mc Goldthorpe - Director

1.	STATUTORY INFORMATION

Goldthorpe Farming 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.

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.

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

Depreciation of fixed assets is calculated to write off their cost or valuation less any residual value over their estimated useful lives as follows :

Plant & machinery

20% Reducing balance

Motor lorries

25% Straight line

Fixtures & fittings 20% Straight line

Computer equipment 33% Straight line

No depreciation is charged in respect of freehold farm land and property, the directors considering that no depreciation arises on these assets.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the average rate of exchange for the trading period.. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st July 2021

3,491,217

1,741,411

5,232,628

Additions

1,062,050

138,300

1,200,350

Disposals

(217,148

)

(95,710

)

(312,858

)

At 30th June 2022

4,336,119

1,784,001

6,120,120

DEPRECIATION

At 1st July 2021

-

1,434,493

1,434,493

Charge for year

-

123,474

123,474

Eliminated on disposal

-

(63,607

)

(63,607

)

At 30th June 2022

-

1,494,360

1,494,360

NET BOOK VALUE

At 30th June 2022

4,336,119

289,641

4,625,760

At 30th June 2021

3,491,217

306,918

3,798,135

Included in cost of land and buildings is freehold land of £ 4,336,119 (2021 - £ 3,491,217 ) which is not depreciated.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

227,510

191,590

Other debtors

634,130

494,690

861,640

686,280

6.	CURRENT ASSET INVESTMENTS

2022

2021

£

£

French farming enterprise

10,121

74,019

The company owned and occupied a farming property in France until it was sold in March 2022. The farming interests are assessed to taxation in France upon the director Mr. H. Mc. Goldthorpe farming as trustee for the company. During the year the remaining freehold farming property was sold for £155,110. The remaining company investment represents french taxes paid in advance which are due back to the company.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

24,701

22,477

Taxation and social security

135,532

165,259

Other creditors

14,819

14,238

175,052

201,974

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th June 2022 and 30th June 2021:

2022

2021

£

£

C A Goldthorpe

Balance outstanding at start of year

-

128,070

Amounts repaid

-

(128,070

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

During the year a loan was provided to a director. This loan is repayable on demand and free of interest.

9.	RELATED PARTY DISCLOSURES

The directors Messrs. C.A. and H.M. Goldthorpe each hold 50% of the issued share capital of the company and are the ultimate controlling parties.