Richard Beldam Farms Limited - Accounts to registrar (filleted) - small 23.1.2
Richard Beldam Farms Limited - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 October 2022 |
| for |
| Richard Beldam Farms Limited |
| Richard Beldam Farms Limited (Registered number: 02092388) |
| Contents of the Financial Statements |
| for the Year Ended 31 October 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Richard Beldam Farms Limited |
| Company Information |
| for the Year Ended 31 October 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Unit 3, Mobbs Miller House |
| Christchurch Road |
| Northampton |
| Northamptonshire |
| NN1 5LL |
| Richard Beldam Farms Limited (Registered number: 02092388) |
| Balance Sheet |
| 31 October 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| Richard Beldam Farms Limited (Registered number: 02092388) |
| Notes to the Financial Statements |
| for the Year Ended 31 October 2022 |
| 1. | STATUTORY INFORMATION |
| Richard Beldam Farms Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| The turnover shown in the profit and loss account represents amounts receivable for goods and services sold during the year, exclusive of VAT, but does not include the proportion of direct costs recharged to landowners under shared farming agreements, these items being set against the relevant costs incurred by the company. |
| In respect of long-term contracts and contracts for on going services, turnover represents the value of the work done during the year, including estimates of amounts not invoiced by reference to the stage of completion. |
| 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 - not provided |
| - Improvements to property - 2.5% on cost, 5% on cost |
| - Plant and machinery - 5% on cost |
| - Motor vehicles - 20% on cost |
| - Office equipment - 20% on cost |
| Stocks |
| Stocks are valued at the lower of cost or net realisable value. |
| The cost of seeds, fertilisers, sprays and fuels in store is determined principally on a first in first out basis. In the case of harvested crops, cost is based on all direct expenditure incurred in production. Work-in-progress consists of cultivations and acts of husbandry which are valued on the basis of all direct expenditure incurred. |
| Net realisable value is the price at which the stock can be realised in the normal course of business. |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Richard Beldam Farms Limited (Registered number: 02092388) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Basic farm payment subsidy income |
| Provided that, at the balance sheet date, the company has submitted its basic farm payment subsidy claim form (which relates to the calendar year in which the balance sheet date falls) to the Rural Payments Agency on time and the company has also satisfied the relevant control criteria (as set out in the basic farm payment scheme rules) then, provided the directors have not become aware of any breaches in the cross compliance regulations to which the company is subjected, the basic farm payment subsidy income due to the company is recognised on a pro-rata time basis and accrued in the accounts accordingly. |
| Directors' pension schemes |
| None of the company directors have any interest in any money purchase or defined benefit pension schemes administered by the company. The company did not make any contributions to personal pension schemes held in the personal names of the directors in either the year under review or the preceding year. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| Freehold | to | Plant and |
| property | property | machinery |
| £ | £ | £ |
| Cost |
| At 1 November 2021 |
| Additions |
| Disposals | ( |
) |
| At 31 October 2022 |
| Depreciation |
| At 1 November 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 October 2022 |
| Net book value |
| At 31 October 2022 |
| At 31 October 2021 |
| Richard Beldam Farms Limited (Registered number: 02092388) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2022 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Motor | Office |
| vehicles | equipment | Totals |
| £ | £ | £ |
| Cost |
| At 1 November 2021 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 October 2022 |
| Depreciation |
| At 1 November 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 October 2022 |
| Net book value |
| At 31 October 2022 |
| At 31 October 2021 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| Richard Beldam Farms Limited (Registered number: 02092388) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2022 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| Bank borrowings are secured by two fixed charges over the company's freehold property. Mr R C Beldam and Mrs J V Beldam, directors of the company, have also given the company's bankers various charges over personal assets to secure any bank borrowings. |
| 9. | CAPITAL COMMITMENTS |
| 2022 | 2021 |
| £ | £ |
| Contracted but not provided for in the |
| financial statements |