AH Farms Ltd - Period Ending 2023-01-31
AH Farms Ltd - Period Ending 2023-01-31
Registration number:
AH Farms Ltd
for the Year Ended 31 January 2023
AH Farms Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
AH Farms Ltd
Company Information
Directors |
A M Spencer H E Sharpe I D Fisher K A Pinder |
Registered office |
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Auditors |
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AH Farms Ltd
(Registration number: 11454371)
Balance Sheet as at 31 January 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Intangible assets |
|
|
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Tangible assets |
|
|
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Other financial assets |
5 |
5 |
|
|
|
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Current assets |
|||
Stocks |
|
|
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Debtors |
|
|
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Cash at bank and in hand |
|
|
|
|
|
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
- |
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Net assets |
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|
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Capital and reserves |
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Called up share capital |
10,000 |
10,000 |
|
Retained earnings |
8,384,720 |
8,301,980 |
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Shareholders' funds |
8,394,720 |
8,311,980 |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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AH Farms Ltd
Notes to the Financial Statements for the Year Ended 31 January 2023
General information |
The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 11454371.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
These financial statements cover the individual entity, AH Farms Ltd.
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements have been prepared in sterling and are rounded to the nearest pound.
Audit report
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
AH Farms Ltd
Notes to the Financial Statements for the Year Ended 31 January 2023
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Land |
Not depreciated |
Plant and machinery |
5 years straight line basis and no depreciation |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Entitlements |
8 years straight line basis |
Crop Storage Rights |
Not amortised |
Stocks
The basis of valuation is as follows:
Raw materials and consumables are stated at the lower of cost or net realisable value.
Tenantright is calculated by a combination of actual costs incurred and standard costs.
Produce on hand is valued at standard cost.
Standard costings are based upon calculations prepared by the Central Association of Agricultural Valuers.
The basis of valuation is consistent with previous years.
Staff numbers |
The average number of persons employed by the Company (including Directors) during the year, was
AH Farms Ltd
Notes to the Financial Statements for the Year Ended 31 January 2023
Intangible assets |
Crop Storage Rights |
Basic Payment Entitlements |
Total |
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Cost or valuation |
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At 1 February 2022 |
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At 31 January 2023 |
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Amortisation |
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At 1 February 2022 |
- |
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Amortisation charge |
- |
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At 31 January 2023 |
- |
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Carrying amount |
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At 31 January 2023 |
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|
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At 31 January 2022 |
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Tangible assets |
Land and buildings |
Plant and machinery |
Total |
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Cost or valuation |
|||
At 1 February 2022 |
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- |
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Additions |
- |
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At 31 January 2023 |
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Depreciation |
|||
Charge for the year |
- |
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At 31 January 2023 |
- |
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Carrying amount |
|||
At 31 January 2023 |
|
|
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At 31 January 2022 |
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- |
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AH Farms Ltd
Notes to the Financial Statements for the Year Ended 31 January 2023
Other financial assets (current and non-current) |
Financial assets at cost less impairment |
Total |
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Non-current financial assets |
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Cost or valuation |
||
At 1 February 2022 |
5 |
5 |
At 31 January 2023 |
5 |
5 |
Impairment |
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Carrying amount |
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At 31 January 2023 |
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5 |
Stocks |
2023 |
2022 |
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Tenantright |
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Finished goods and goods for resale |
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|
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Debtors |
Current |
2023 |
2022 |
Trade debtors |
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Other debtors |
|
|
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
- |
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Other creditors |
- |
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Accruals and deferred income |
205,495 |
127,758 |
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AH Farms Ltd
Notes to the Financial Statements for the Year Ended 31 January 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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|
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10,000 |
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10,000 |