ACCOUNTS - Final Accounts

MANOR FARM RACKHEATH LIMITED - Company Information

Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-302022-10-01false1No description of principal activity1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05045897 2022-10-01 2023-09-30 05045897 2021-10-01 2022-09-30 05045897 2023-09-30 05045897 2022-09-30 05045897 c:Director1 2022-10-01 2023-09-30 05045897 d:Buildings 2022-10-01 2023-09-30 05045897 d:Buildings 2023-09-30 05045897 d:Buildings 2022-09-30 05045897 d:CurrentFinancialInstruments 2023-09-30 05045897 d:CurrentFinancialInstruments 2022-09-30 05045897 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 05045897 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 05045897 d:ShareCapital 2023-09-30 05045897 d:ShareCapital 2022-09-30 05045897 d:RetainedEarningsAccumulatedLosses 2023-09-30 05045897 d:RetainedEarningsAccumulatedLosses 2022-09-30 05045897 c:FRS102 2022-10-01 2023-09-30 05045897 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 05045897 c:FullAccounts 2022-10-01 2023-09-30 05045897 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 05045897 2 2022-10-01 2023-09-30 05045897 6 2022-10-01 2023-09-30 05045897 e:PoundSterling 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Registered number: 05045897

MANOR FARM RACKHEATH LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

MANOR FARM RACKHEATH LIMITED

REGISTERED NUMBER: 05045897

BALANCE SHEET

AS AT 30 SEPTEMBER 2023

		2023		2022
		£		£

Fixed assets
Tangible assets	4		1,762,965		1,762,965
Investments	5		50		50
			1,763,015		1,763,015
Current assets
Stocks		215,198		151,822
Debtors: amounts falling due within one year	6	90,875		95,070
Cash at bank and in hand		167,652		187,801
		473,725		434,693
Creditors: amounts falling due within one year	7	(259,468)		(295,367)
Net current assets			214,257		139,326
Total assets less current liabilities			1,977,272		1,902,341

Net assets			1,977,272		1,902,341

Capital and reserves
Called up share capital	100	100
Profit and loss account	1,977,172	1,902,241
	1,977,272	1,902,341

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MANOR FARM RACKHEATH LIMITED

REGISTERED NUMBER: 05045897

BALANCE SHEET (CONTINUED)

AS AT 30 SEPTEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 January 2024.

P Riedesel Freiherr zu Eisenbach

Director

The notes on pages 3 to 6 form part of these financial statements.

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MANOR FARM RACKHEATH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.	General information

Manor Farm Rackheath Limited is a private company limited by shares. It is incorporated and domiciled in England and Wales. The registered office address is 7 The Close, Norwich, NR1 4DJ.
The Company's principal activities are the rental of agricultural land and residential property and mixed farming.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

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MANOR FARM RACKHEATH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The company does not have any tangible fixed assets other than land and buildings.

Depreciation is provided on the following basis:

Freehold property

Not depreciated

2.6

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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MANOR FARM RACKHEATH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

4.	Tangible fixed assets

		Freehold property
		£
	Cost or valuation
	At 1 October 2022	1,762,965
	At 30 September 2023	1,762,965

	Net book value
	At 30 September 2023	1,762,965
	At 30 September 2022	1,762,965

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MANOR FARM RACKHEATH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.	Fixed asset investments

		Unlisted investments
		£
	Cost or valuation
	At 1 October 2022	50
	At 30 September 2023	50

Debtors

					2023	2022
					£	£


Trade debtors	51,689	69,576
Other debtors	34,832	21,110
Prepayments and accrued income	4,354	4,384
	90,875	95,070

7.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Trade creditors	41,934	80,128
Other taxation and social security	20,918	23,553
Accruals and deferred income	196,616	191,686
	259,468	295,367

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