Registered number
01269154
Crow Hall Farms Limited
Filleted Accounts
30 November 2020
Crow Hall Farms Limited
Registered number: 01269154
Balance Sheet
as at 30 November 2020
Notes 2020 2019
£ £
Fixed assets
Intangible assets 6 91,668 84,964
Tangible assets 7 1,830,599 1,864,050
Investment Properties 8 312,984 275,000
Biological Assets 9 160,748 155,664
2,395,999 2,379,678
Current assets
Inventories 10 72,050 94,103
Debtors 11 186,905 165,395
Cash at bank and in hand 185,950 199,105
444,905 458,603
Creditors: amounts falling due within one year 12 (138,154) (166,950)
Net current assets 306,751 291,653
Total assets less current liabilities 2,702,750 2,671,331
Creditors: amounts falling due after more than one year 13 (1,022,739) (1,043,504)
Provisions for liabilities - deferred taxation 14 (13,940) (15,166)
Net assets 1,666,071 1,612,661
Capital and reserves
Called up share capital 15 111 111
Other reserves 19 - 871,977
Share premium 65,989 65,989
Profit and loss account 20/21 1,599,971 674,584
Shareholders' funds 1,666,071 1,612,661
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 8 June 2021
Crow Hall Farms Limited
Notes to the Accounts
For the year ended 30 November 2020
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. Fair value will be amortised 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 and straight line
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 2020 2019
£ £
Bank overdraft and other short term borrowings 250 3,516
Finance leases and hire purchase contracts 1,881 1,914
2,131 5,430
3 Other operating income 2020 2019
£ £
Wayleaves 2,561 2,465
Fair value gains on investment properties - 11,219
Fair value gains on intangible assets - -
2,561 13,684
4 Employees 2020 2019
Number Number
Average number of persons, including directors, employed by the company 4 4
5 Tax on ordinary activities 2020 2019
£ £
Tax on ordinary profits - -
Deferred tax (1,226) 912
(1,226) 912
The company has tax losses of £198,051 ( 2019 : £299,955 ) and capital losses of £44,080 (2019: £44,080) available to carry forward to offset future profits and gains.
6 Intangible fixed assets
Basic farm payment entitlements
£
Cost
At 1 December 2019 106,221
Additions -
Impairment -
At 30 November 2020 106,221
Amortisation
At 1 December 2019 (21,257)
Provided during the year 6,704
On impairment -
At 30 November 2020 (14,553)
Net book value
At 30 November 2020 91,668
At 30 November 2019 84,964
7 Tangible fixed assets
Freehold land Buildings & improvements Plant and machinery Total
£ £ £ £
Cost
At 1 December 2019 1,292,900 539,816 422,387 2,255,103
Additions - 12,809 9,644 22,453
Disposals - (5,286) (6,628) (11,914)
At 30 November 2020 1,292,900 547,339 425,403 2,265,642
Depreciation
At 1 December 2019 - 240,600 150,453 391,053
Charge for the year - 11,808 36,787 48,595
On disposals - 0 (4,605) (4,605)
At 30 November 2020 - 252,408 182,635 435,043
Net book value
At 30 November 2020 1,292,900 294,931 242,768 1,830,599
At 30 November 2019 1,292,900 299,216 271,934 1,864,050
The net book values of assets included in plant, machinery and vehicles acquired under finance leases or hire purchase contracts amounts to £62,846 (2019: £108,466).
8 Investment Properties
£
Fair value at 1 December 2019 275,000
Additions 37,984
Fair value at 30 November 2020 312,984
The historical cost of the investment properties as at 30th November 2020 has been estimated as £118,725 (2019: £80,741).
9 Biological Assets
£
Breeding livestock
Cost
As at 1 December 2019 252,136
Net changes in the year 22,403
As at 30 November 2020 274,539
Depreciation
As at 1 December 2019 (96,472)
Recoveries on disposals in the year 10,345
Charge for the year (27,664)
As at 30 November 2020 (113,791)
Net book value
As at 30 November 2020 160,748
As at 30 November 2019 155,664
10 Inventories 2020 2019
£ £
Biological assets being trading livestock 37,635 52,477
Deadstock & other stocks 34,415 41,626
72,050 94,103
11 Debtors 2020 2019
£ £
Trade debtors 175,269 155,024
Value added tax 11,636 10,371
186,905 165,395
12 Creditors: amounts falling due within one year 2020 2019
£ £
Bank loans and overdrafts 10,532 72,490
Obligations under finance lease and hire purchase contracts 20,609 22,330
Trade creditors 30,843 23,192
Other creditors 76,170 48,938
138,154 166,950
A mortgage dated 10th July 2009 over the company's assets was created by the company to secure 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 2020 2019
£ £
Obligations under finance lease and hire purchase contracts 10,642 31,251
Other creditors 1,012,097 1,012,253
1,022,739 1,043,504
The amounts due under hire purchase obligations are secured on the assets to which they relate.
14 Deferred taxation
2020 2019
£ £
At the beginning of the year 15,166 14,254
Credit to profit or loss (1,226) 912
13,940 15,166
The provision for deferred tax is made up as follows:
2020 2019
£ £
Potential gains on investment properties and basic farm payment entitlements 22,315 23,542
Tax losses carried forward (8,375) (8,376)
13,940 15,166
15 Share capital
2020 2019
£ £ £ £
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
2020 2019
£ £
Future minimum lease payments 9,950 9,950
9,950 9,950
19 Other reserves
£
Balance as at 1st December 2019 871,977
Transfer to profit and loss reserve (871,977)
Balance as at 30th November 2020 -
The reserve arose on the revaluation of historic investment properties in the 1980's. It has now been determined that these properties were disposed of in 1990 and therefore it is considered appropriate that this reserve should be transferred to the Profit and Loss reserve.
20 Profit and loss reserve £
Balance as at 1st December 2019 674,583
Transfer from other reserves 871,977
Profit for the year 53,411
Balance as at 30th November 2020 1,599,971
21 Unrealised profits
Unrealised profits arising from FRS102 adjustments included in the profit and loss account reserve are noted below.
2020 2019
£ £
Unrealised profits 154,486 163,877
154,486 163,877
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