Registered number
01269154
Crow Hall Farms Limited
Filleted Accounts
30 November 2019
Crow Hall Farms Limited
Registered number: 01269154
Balance Sheet
as at 30 November 2019
Notes 2019 2018
£ £
Fixed assets
Intangible assets 6 84,964 53,111
Tangible assets 7 1,864,050 1,807,026
Investment Properties 8 275,000 605,000
Biological Assets 9 155,664 182,115
2,379,678 2,647,252
Current assets
Inventories 10 94,103 87,595
Debtors 11 165,395 182,933
Cash at bank and in hand 199,105 -
458,603 270,528
Creditors: amounts falling due within one year 12 (166,950) (277,453)
Net current assets/(liabilities) 291,653 (6,925)
Total assets less current liabilities 2,671,331 2,640,327
Creditors: amounts falling due after more than one year 13 (1,043,504) (1,065,695)
Provisions for liabilities - deferred taxation 14 (15,166) (14,254)
Net assets 1,612,661 1,560,378
Capital and reserves
Called up share capital 15 111 111
Other reserves 871,977 871,977
Share premium 65,989 65,989
Profit and loss account 19 674,584 622,301
Shareholders' funds 1,612,661 1,560,378
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS102 Section 1A - small entities.
M E Dickinson
Approved by the board on 21 February 2020
Crow Hall Farms Limited
Notes to the Accounts
For the year ended 30 November 2019
1 Accounting policies
Statutory information
The company is a private company, limited by shares, domiciled in England and Wales and whose registered number is 01269154. The registered office is located at Crow Hall Farm, Bardon Mill, Hexham, Northumberland, NE47 7BJ.
Compliance with accounting standards
The financial statements are prepared in accordance with the provisions of FRS102 Section1A small entities. There were no material departures from that standard.
The principal accounting policies adopted in the presentation of the financial statements are set out below.
The financial statements have been prepared under the historical cost convention as modified for the revaluation of certain fixed assets.
Intangible assets
Intangible assets which comprise basic farm payment entitlements are included at fair value. Fair value is considered at each reporting date and any changes in fair value are recognised in the profit and loss account. The entitlements are being amortised over four years from 1st December 2016 or such other period as the future of the scheme becomes clearer. Deferred tax is provided on these gains at the rate expected to apply when the entitlements are sold.
Property, plant and equipment assets and depreciation
Property, plant and equipment assets are stated at cost less depreciation and impairment. Depreciation is provided at the rates calculated to write off the cost of fixed assets over their expected useful lives on the following bases:
Freehold land & woodlands No depreciation
Buildings and improvements 4% reducing balance
Plant and machinery 15% reducing balance
Investment property
Investment properties are included at fair value. Fair value is considered at each reporting date and any changes in fair value are recognised in the profit and loss account. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.
Finance leases or hire purchase contracts and leasing
Assets acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of finance charges, are included in creditors. Finance charges are charged to profits using the effective interest method or similar bases.



Rental payments under operating lease are charged to the profit and loss account on a straight line basis over the period of the lease.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to sell.
1 Accounting policies ~ continued
Biological assets
Biological assets, being living plants and animals, are included at the lower of cost and estimated selling price less costs to sell. Depreciation is provided at rates calculated to write off the cost of breeding animals over their expected productive lives on the following bases:
Breeding cattle 10% reducing balance
Breeding sheep 4% reducing balance
Income recognition
Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have been transferred to them.
Deferred tax
Deferred taxation is provided on the liability method to take account of the timing differences between the treatment of certain items for financial statements and their tax treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of material timing differences.
Government grants
Income grants are recognised on an accruals basis.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Interest payable 2019 2018
£ £
Bank overdraft and other short term borrowings 3,516 4,557
Finance leases and hire purchase contracts 1,914 1,401
5,430 5,958
3 Other operating income 2019 2018
£ £
Wayleaves 2,465 2,845
Fair value gains on investment properties 11,219 -
Fair value gains on intangible assets - -
13,684 2,845
4 Employees 2019 2018
Number Number
Average number of persons, including directors, employed by the company 4 4
5 Tax on ordinary activities 2019 2018
£ £
Tax on ordinary profits - (1,744)
Deferred tax 912 (3,789)
912 (5,533)
The company has tax losses of £299,955 ( 2018 : £299,955 ) and capital losses of £44,080 (2018: £123,685) available to carry forward to offset future profits and gains.
6 Intangible fixed assets
Basic farm payment entitlements
£
Cost
At 1 December 2018 106,221
Additions -
Impairment -
At 30 November 2019 106,221
Amortisation
At 1 December 2018 (53,110)
Provided during the year 31,853
On impairment -
At 30 November 2019 (21,257)
Net book value
At 30 November 2019 84,964
At 30 November 2018 53,111
7 Tangible fixed assets
Freehold land Buildings & improvements Plant and machinery Total
£ £ £ £
Cost
At 1 December 2018 1,292,900 521,987 361,830 2,176,717
Additions - 17,829 107,076 124,905
Disposals - 0 (46,519) (46,519)
At 30 November 2019 1,292,900 539,816 422,387 2,255,103
Depreciation
At 1 December 2018 - 228,133 141,558 369,691
Charge for the year - 12,467 38,897 51,364
On disposals - 0 (30,002) (30,002)
At 30 November 2019 - 240,600 150,453 391,053
Net book value
At 30 November 2019 1,292,900 299,216 271,934 1,864,050
At 30 November 2018 1,292,900 293,854 220,272 1,807,026
8 Investment Properties
£
Fair value at 1 December 2018 605,000
Disposals (330,000)
Fair value at 30 November 2019 275,000
The historical cost of the investment properties as at 30th November 2018 has been estimated as £80,741.
The investment property sold in the year produced a realised gain based on cost of £225,286 and a gain based on fair value of £11,219.
9 Biological Assets
£
Breeding livestock
Cost
As at 1 December 2018 266,846
Net changes in the year (14,710)
As at 30 November 2019 252,136
Depreciation
As at 1 December 2018 (84,731)
Recoveries on disposals in the year 16,442
Charge for the year (28,183)
As at 30 November 2019 (96,472)
Net book value
As at 30 November 2019 155,664
As at 30 November 2018 182,115
10 Inventories 2019 2018
£ £
Biological assets being trading livestock 52,477 44,249
Deadstock & other stocks 41,626 43,346
94,103 87,595
11 Debtors 2019 2018
£ £
Trade debtors 155,024 182,933
Value added tax 10,371 -
165,395 182,933
12 Creditors: amounts falling due within one year 2019 2018
£ £
Bank loans and overdrafts 72,490 195,063
Obligations under finance lease and hire purchase contracts 22,330 15,563
Trade creditors 23,192 37,625
Value added tax - 6,124
Other creditors 48,938 23,078
166,950 277,453
A mortgage dated 10th July 2009 over the company's assets was created by the company for securing all monies due or to become due from the company to Lloyds TSB plc.
The amounts due under hire purchase obligations are secured on the assets to which they relate.
13 Creditors: amounts falling due after one year 2019 2018
£ £
Obligations under finance lease and hire purchase contracts 31,251 2,594
Other creditors 1,012,253 1,063,101
1,043,504 1,065,695
The amounts due under hire purchase obligations are secured on the assets to which they relate.
14 Deferred taxation
2019 2018
£ £
At the beginning of the year 14,254 18,043
Credit to profit or loss 912 (3,789)
15,166 14,254
The provision for deferred tax is made up as follows:
2019 2018
£ £
Potential gains on investment properties and basic farm payment entitlements 23,542 37,754
Tax losses carried forward (8,376) (23,500)
15,166 14,254
15 Share capital
2019 2018
£ £ £ £
Authorised Allotted and fully paid Authorised Allotted and fully paid
Ordinary shares of £1 each 10,000 111 10,000 111
16 Control
The company is under the control of the trustees of a number of settlements whose beneficiaries are the members of the Dickinson family.
17 Related party transactions
Finance for the company is provided by the directors of the company by way of loans on an interest free basis with the amounts owing to and by the directors being disclosed in notes 12 and 13. There is no set date for the repayment of these loans. No amounts have been written off or waived. Should any loan become overdrawn the deficit amount is repayable to the company at the earliest opportunity.
18 Commitments under operating leases
2019 2018
£ £
Future minimum lease payments 9,950 9,900
9,950 9,900
19 Unrealised profits
Unrealised profits arising from FRS102 adjustments included in the profit and loss account reserve are noted below.
2019 2018
£ £
Unrealised profits 163,877 354,819
163,877 354,819
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