Registered number
01269154
Crow Hall Farms Limited
Filleted Accounts
30 November 2017
Crow Hall Farms Limited
Registered number: 01269154
Balance Sheet
as at 30 November 2017
Notes 2017 2016
£ £
Fixed assets
Intangible assets 3 84,760 89,284
Tangible assets 4 1,818,765 1,773,602
Investment Properties 5 600,000 596,021
Biological Assets 6 181,827 206,213
2,685,352 2,665,120
Current assets
Inventories 7 78,396 74,938
Debtors 8 210,766 165,253
Cash at bank and in hand - 34,406
289,162 274,597
Creditors: amounts falling due within one year 9 (276,801) (232,530)
Net current assets 12,361 42,067
Total assets less current liabilities 2,697,713 2,707,187
Creditors: amounts falling due after more than one year 10 (1,087,950) (1,091,849)
Provisions for liabilities - deferred tax (18,043) (23,568)
Net assets 1,591,720 1,591,770
Capital and reserves
Called up share capital 11 111 111
Other reserves 871,977 871,977
Share premium 65,989 65,989
Profit and loss account 653,643 653,693
Shareholders' funds 1,591,720 1,591,770
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.
In accordance with Section 444 of the Companies Act 2006 the profit and loss account has not been delivered.
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 26 June 2018
Crow Hall Farms Limited
Notes to the Accounts
For the year ended 30 November 2017
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.
These financial statements for the year ended 30th November 2017 are the first financial statements that comply with FRS 102 Section 1A small entities. The date of transition is 1 December 2016. The transition to FRS 102 Section 1A small entities has resulted in changes in the accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes to the accounts.
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. 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 Employees 2017 2016
Number Number
Average number of persons employed by the company 4 4
3 Intangible fixed assets £
Basic farm payment entitlements
Cost
At 1 December 2015 13,158
Fair Value movement 110,350
At 30 November 2016 123,508
Amortisation
At 1 December 2015 (3,347)
Provided during the year (30,877)
At 30 November 2016 (34,224)
Net book value
At 30 November 2016 89,284
Cost
At 1 December 2016 123,508
Additions -
Impairment (10,494)
At 30 November 2017 113,014
Amortisation
At 1 December 2016 (34,224)
Provided during the year -
On impairment 5,970
At 30 November 2017 (28,254)
Net book value
At 30 November 2017 84,760
4 Tangible fixed assets
Freehold land Buildings & improvements Plant and machinery Total
£ £ £ £
Cost
At 1 December 2016 1,292,900 482,494 338,914 2,114,308
Additions - 31,733 79,818 111,551
Disposals - (9,803) (53,217) (63,020)
At 30 November 2017 1,292,900 504,424 365,515 2,162,839
Depreciation
At 1 December 2016 - 210,802 129,904 340,706
Charge for the year - 10,989 34,420 45,409
On disposals - (5,170) (36,871) (42,041)
At 30 November 2017 - 216,621 127,453 344,074
Net book value
At 30 November 2017 1,292,900 287,803 238,062 1,818,765
At 30 November 2016 1,292,900 271,692 209,010 1,773,602
5 Investment Properties
£
Additions at cost 179,651
Net gains from fair vale adjustments 416,370
Fair value at 30 November 2016 596,021
Net gains from fair vale adjustments 3,979
Fair value at 30 November 2017 600,000
The historical cost of the investment properties has been estimated as £179,651 and has been transferred out of freehold land.
6 Biological Assets
£
Breeding livestock
Cost
As at 1 December 2016 249,256
Net changes in the year (2,236)
As at 30 November 2017 247,020
Depreciation
As at 1 December 2016 (43,043)
Recoveries on disposals in the year 14,177
Charge for the year (36,327)
As at 30 November 2017 (65,193)
Net book value
As at 30 November 2017 181,827
As at 30 November 2016 206,213
7 Inventories 2017 2016
£ £
Biological assets being trading livestock 27,570 37,140
Deadstock & other stocks 50,826 37,798
78,396 74,938
8 Debtors 2017 2016
£ £
Trade debtors 202,054 138,034
Value added tax 8,712 8,206
Other debtors - 19,013
210,766 165,253
9 Creditors: amounts falling due within one year 2017 2016
£ £
Bank loans and overdrafts 226,265 3,342
Obligations under finance lease and hire purchase contracts 6,350 16,551
Trade creditors 35,970 22,893
Taxation and social security costs - 1,744
Other creditors 8,216 188,000
276,801 232,530
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 on any account whatsoever.
The amounts due under hire purchase obligations are secured on the assets to which they relate.
10 Creditors: amounts falling due after one year 2017 2016
£ £
Obligations under finance lease and hire purchase contracts 37,830 21,584
Other creditors 1,050,120 1,070,265
1,087,950 1,091,849
The amounts due under hire purchase obligations are secured on the assets to which they relate.
11 Share capital
2017 2016
£ £ £ £
Authorised Allotted and fully paid Authorised Allotted and fully paid
Ordinary shares of £1 each 10,000 111 10,000 111
12 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 8 (within other debtors), 9 and 10 (within other creditors). 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.
Included within other debtors is a loan to a director of £nil (2016: £19,013). During the year the amount advanced in 2016 was repaid.
13 Reconciliation of equity
30th November 2016
As previously stated Effect of transition FRS102 (as restated)
£ £ £
Fixed assets 2,210,358 454,762 2,665,120
Current assets 274,597 - 274,597
Creditors - amounts falling due within one year (232,530) (232,530)
Net current assets 42,067 0 42,067
Total assets less current liabilities 2,252,425 454,762 2,707,187
Creditors - amounts falling due after more than one year (1,091,849) (23,568) (1,115,417)
Net assets 1,160,576 431,194 1,591,770
Capital and reserves 1,160,576 431,194 1,591,770
14 Notes to reconciliation
The company has restated the figures for the year ended 30th November 2016 to comply with the provisions of FRS102 in so far as they are applicable. Where adjustments have been judged to make no material difference to the company's equity position no adjustment has been made.
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