Burlington Farms Limited - Accounts to registrar (filleted) - small 23.2.5
Burlington Farms Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| BURLINGTON FARMS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| BURLINGTON FARMS LIMITED (REGISTERED NUMBER: 00355344) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 | to | 5 |
| BURLINGTON FARMS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 14 All Saints Street |
| Stamford |
| Lincolnshire |
| PE9 2PA |
| BURLINGTON FARMS LIMITED (REGISTERED NUMBER: 00355344) |
| STATEMENT OF FINANCIAL POSITION |
| 31 DECEMBER 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Inventories |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Revaluation reserve | 9 |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| BURLINGTON FARMS LIMITED (REGISTERED NUMBER: 00355344) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| 1. | STATUTORY INFORMATION |
| Burlington Farms Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Revenue |
| Revenue represents amounts charged to customers for produce and services provided during the year, excluding value added tax and trade discounts, and basic farm payment. |
| Tangible fixed assets |
| Freehold property | - |
| Short leasehold | - |
| No depreciation has been provided for freehold buildings. It is the company's policy to maintain its properties in a continual state of sound repair. In the case of freehold buildings, the directors consider that the lives of these buildings and their residual value are such that their depreciation is not significant. |
| The leasehold property relates to a farm business tenancy. |
| Valuation |
| The valuation is prepared by Robinson & Hall LLP, Land and Property Consultants, and is stated at the lower of cost and fair value less costs to complete and sell. |
| 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 that have been enacted or substantively enacted by the statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Fixed asset investments are stated at cost less provision for impairment. |
| The Basic Farm Payment is recognised in the financial statements in accordance with current H M Revenue & Customs guidance. |
| BURLINGTON FARMS LIMITED (REGISTERED NUMBER: 00355344) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Land and |
| buildings |
| £ |
| COST OR VALUATION |
| At 1 January 2022 |
| and 31 December 2022 |
| DEPRECIATION |
| At 1 January 2022 |
| and 31 December 2022 |
| NET BOOK VALUE |
| At 31 December 2022 |
| At 31 December 2021 |
| Cost or valuation at 31 December 2022 is represented by: |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| Valuation in 2013 | 1,871,600 | - | 1,871,600 |
| Cost | 69,951 | - | 69,951 |
| 1,941,551 | - | 1,941,551 |
| If freehold property had not been revalued it would have been included at the following historical cost: |
| 2022 | 2021 |
| £ | £ |
| Cost | 509,089 | 509,089 |
| Aggregate depreciation | 45,000 | 45,000 |
| Value of land in freehold land and buildings | 463,529 | 463,529 |
| Freehold property was valued on open market basis on 11 January 2013 by Robinson and Hall LLP . |
| Freehold properties were subject to valuation by Robinson & Hall LLP, qualified independent valuers, on an open market basis. The methods and assumptions used to ascertain the fair values are as follows: |
| In accordance with RICS valuation standards, the valuations were prepared having regard to the market based evidence for similar properties sold in the local area. |
| The company has applied transitional arrangements of Section 35 of FRS 102 and used this professional valuation as the deemed cost for freehold properties. |
| BURLINGTON FARMS LIMITED (REGISTERED NUMBER: 00355344) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 January 2022 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2022 |
| NET BOOK VALUE |
| At 31 December 2022 |
| At 31 December 2021 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Owed by related undertaking |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade creditors |
| Taxation |
| Accruals and deferred income |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| Ordinary shares | £1 | 133 | 133 |
| 9. | RESERVES |
| Revaluation reserve |
| £ |
| Balance at 1 January 2022 | 1,273,462 |
| Deferred tax movement on freehold property | - |
| Balance at 31 December 2022 | 1,273,462 |