REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2022 |
for |
SA and HM Radford Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2022 |
for |
SA and HM Radford Limited |
SA and HM Radford Limited (Registered number: 07932960) |
Contents of the Financial Statements |
for the Year Ended 31 December 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
SA and HM Radford Limited |
Company Information |
for the Year Ended 31 December 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
West Barn, c/o Down Farm |
Hindon |
Salisbury |
Wiltshire |
SP3 5TA |
SA and HM Radford Limited (Registered number: 07932960) |
Balance Sheet |
31 December 2022 |
31.12.22 | 31.12.21 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Prepayments and accrued income |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
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 Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
SA and HM Radford Limited (Registered number: 07932960) |
Notes to the Financial Statements |
for the Year Ended 31 December 2022 |
1. | STATUTORY INFORMATION |
SA and HM Radford Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements relate to SA and HM Radford Limited as an individual entity. |
Intangible assets |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and Machinery - Straight line over 3 years and Straight line over 5 years. |
Fixtures and Fittings - Straight line over 5 years and Straight line over 7 years. |
Computers and IT - Straight line over 5 years and Straight line over 7 years. |
Neither the biological asset, being the vines, the improvement to the vineyard, or the agricultural land are depreciated.. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Pension costs and other post-retirement benefits |
The company operated a defined contribution pension scheme with contributions payable being charged to the profit and loss account in the period to which they related. This scheme was transferred upon the sale of the McDonald's business and was taken over by the new owners of that business. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
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. |
Creditors |
Short term creditors are measured at the transaction price. |
SA and HM Radford Limited (Registered number: 07932960) |
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. | TANGIBLE FIXED ASSETS |
Improvement |
to | Biological | Plant and |
Vineyard | Asset-Vines | machinery |
£ | £ | £ |
COST |
At 1 January 2022 |
Additions |
At 31 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for year |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
Fixtures |
and | Agricultural | Computers |
fittings | Land | and IT | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2022 |
Additions |
At 31 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for year |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
5. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
COST |
At 1 January 2022 |
and 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
SA and HM Radford Limited (Registered number: 07932960) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
5. | FIXED ASSET INVESTMENTS - continued |
2500 Preferred shares are held in Franchisees Reinsurance & Insurance Enterprise Services Limited |
(FRIES) which provides insurance related services to the company. These have been stated at their fair value as at 2019 as determined by the Board of Franchisees Reinsurance & Insurance Enterprise Services Limited with a Unit value of £2.65 per share. The increase in the fair value is recognised through the statement of income and retained earnings. No update on their market value is available at the time of the approval of the accounts by the Directors. |
6. | INVESTMENT PROPERTY |
On 1 October 2021 the company acquired an Investment Property together with agricultural land for a total sum of £1,261,777. This included stamp duty, entitlements and legal fees The Director allocated the price between the property and land at £861,777and £400,000 respectively. |
On 22 September 2022 a professional valuation was carried our by Woolley and Wallis, Chartered Surveyors and Valuers.The valuation was carried on the basis of the open market valuation of the property and land as at 1 November 2021. Their conclusion was that the valuation between the property and land was £800,000 for the property before stamp duty, entitlements, and legal fees and £400,000 for the land. |
Going forward any movement in the fair value of the property will be recognised through the statement of income and retained earnings in accordance with FRS 102 1A and investment properties as defined under section 16 of FRS 102. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Other debtors |
Deferred tax asset |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Trade creditors | 35,223 | 28,398 |
Tax | ( |
) |
VAT | (1,262 | ) | (2,756 | ) |
Other creditors |
Directors' loan accounts | 26,675 | 243 |
Credit Card |
Accrued expenses |
9. | PROVISIONS FOR LIABILITIES |
31.12.21 |
£ |
Deferred tax | 296 |
Deferred |
tax |
£ |
Balance at 1 January 2022 |
Credit to Statement of Income and Retained Earnings during year | ( |
) |
Balance at 31 December 2022 | ( |
) |
10. | ULTIMATE CONTROLLING PARTY |
The controlling party is S A Radford. |