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Financial Statements |
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for the Period 19 December 2016 to 31 December 2017 |
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Hilary Russell Group Ltd |
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REGISTERED NUMBER:
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Financial Statements |
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for the Period 19 December 2016 to 31 December 2017 |
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for |
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Hilary Russell Group Ltd |
Hilary Russell Group Ltd (Registered number: 10503361) |
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Contents of the Financial Statements |
for the period 19 December 2016 to 31 December 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Hilary Russell Group Ltd |
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Company Information |
for the period 19 December 2016 to 31 December 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditors |
Chartered Accountants |
15 Palace Street |
NORWICH |
Norfolk |
NR3 1RT |
Hilary Russell Group Ltd (Registered number: 10503361) |
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Balance Sheet |
31 December 2017 |
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Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium | 13 |
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Retained earnings | 13 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Hilary Russell Group Ltd (Registered number: 10503361) |
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Notes to the Financial Statements |
for the period 19 December 2016 to 31 December 2017 |
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1. | STATUTORY INFORMATION |
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Hilary Russell Group Ltd is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements contain information about Hilary Russell Group Limited as an individual company and |
do not contain consolidated financial information as the parent group. The company is exempt under Section |
400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its |
subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, |
Chaplin Group Limited, Abington Park Farm, Great Abington, Cambridge, CB21 6AX. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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 period end and that are expected to apply to the reversal |
of the timing difference. |
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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. |
Hilary Russell Group Ltd (Registered number: 10503361) |
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Notes to the Financial Statements - continued |
for the period 19 December 2016 to 31 December 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those |
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance |
leases are depreciated over their estimate useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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Eu agricultural support scheme |
Payments received under the EU crop support scheme are recognised as income when the business has met all |
criteria which entitles it to the payment. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
COST |
Additions |
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At 31 December 2017 |
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DEPRECIATION |
Charge for period |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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The tangible fixed assets were transferred in from another group company for consideration equal to its open |
market value at the time, based on an average of the valuations by Savills (UK) Limited and Cheffins in 2016. |
The directors have considered that there have not been any changes to the fair value of the tangible fixed assets |
since the date of valuation. |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
Additions |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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Hilary Russell Group Ltd (Registered number: 10503361) |
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Notes to the Financial Statements - continued |
for the period 19 December 2016 to 31 December 2017 |
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6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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The investment property was transferred in from other group companies for consideration equal to its open |
market value at the time, based on an average of the valuations by Savills (UK) Limited, Cheffins and Carter |
Jonas in 2016. The directors have considered that there have not been any changes to the fair value of the |
investment property since the date of valuation. |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
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Amounts owed by group undertakings |
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VAT |
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Deferred tax asset |
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Prepayments and accrued income |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Bank loans and overdrafts (see note 10) |
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Hire purchase contracts (see note 11) |
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Trade creditors |
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Amounts owed to group undertakings |
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Tax |
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Accruals and deferred income |
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9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Bank loans (see note 10) |
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Hire purchase contracts (see note 11) |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 827,000 |
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10. | LOANS |
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An analysis of the maturity of loans is given below: |
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£ |
Amounts falling due within one year or on demand: |
Bank loans |
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Hilary Russell Group Ltd (Registered number: 10503361) |
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Notes to the Financial Statements - continued |
for the period 19 December 2016 to 31 December 2017 |
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10. | LOANS - continued |
£ |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 827,000 |
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11. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire |
purchase |
contracts |
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Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable |
operating leases |
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Within one year |
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Between one and five years |
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12. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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Bank loans |
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Hire purchase contracts | 59,920 |
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The loans taken out during the year carry a fixed charge and are secured over the land held at Lark Farm, |
Raynham. |
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The security held is over the assets obtained via the agreements. |
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13. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
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At 19 December 2016 |
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99 |
Profit for the period |
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At 31 December 2017 |
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75,943 |
Hilary Russell Group Ltd (Registered number: 10503361) |
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Notes to the Financial Statements - continued |
for the period 19 December 2016 to 31 December 2017 |
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14. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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15. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of the exemption from the requirement to disclose transactions with wholly |
owned group companies. |