Perry Hill Farm Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04074417 (England and Wales)

Unaudited Financial Statements for the Year Ended 26 May 2023

for

Perry Hill Farm Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D J Thomas

Mrs A M Thomas

E L Thomas

SECRETARY:

D J Thomas

REGISTERED OFFICE:

Rural Enterprise Centre

Vincent Carey Road

Rotherwas

Hereford

Herefordshire

HR2 6FE

REGISTERED NUMBER:

04074417 (England and Wales)

ACCOUNTANTS:

A D Accounts Limited

Rural Enterprise Centre

Vincent Carey Road

Rotherwas

Hereford

Herefordshire

HR2 6FE

FIXED ASSETS

Tangible assets

5

2,117,109

1,648,444

CURRENT ASSETS

Stocks

691,600

647,275

Debtors

541,266

948,525

Cash at bank

35,993

-

1,268,859

1,595,800

CREDITORS

Amounts falling due within one year

(621,008

)

(588,841

)

NET CURRENT ASSETS

647,851

1,006,959

TOTAL ASSETS LESS CURRENT LIABILITIES

2,764,960

2,655,403

CREDITORS

Amounts falling due after more than one year

(342,819

)

(344,018

)

PROVISIONS FOR LIABILITIES

(205,940

)

(178,770

)

NET ASSETS

2,216,201

2,132,615

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

2,215,201

2,131,615

SHAREHOLDERS' FUNDS

2,216,201

2,132,615

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 26 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 26 May 2023 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 26 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by:

D J Thomas - Director

1.	STATUTORY INFORMATION

Perry Hill Farm 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Potato store

-

10% on reducing balance

Plant and machinery

-

10% on reducing balance

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 Profit and Loss Account, 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.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest of the company after deducting all of its liabilities.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - NIL ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 27 May 2022

2,870,018

Additions

643,635

At 26 May 2023

3,513,653

DEPRECIATION

At 27 May 2022

1,221,574

Charge for year

174,970

At 26 May 2023

1,396,544

NET BOOK VALUE

At 26 May 2023

2,117,109

At 26 May 2022

1,648,444

6.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loans

258,714

292,688

Hire purchase contracts

235,030

223,688

493,744

516,376

Bank borrowings are secured on the assets of the company.

7.	RELATED PARTY DISCLOSURES

At 26 May 2023 L Thomas & Sons, a partnership in which the directors are partners, owed the company £47,787 (2022: £382,804). This amount has been cleared after 26/05/2023.