REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2022 |
for |
Foxbury Farm (Oxon) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2022 |
for |
Foxbury Farm (Oxon) Limited |
Foxbury Farm (Oxon) Limited (Registered number: 02912369) |
Contents of the Financial Statements |
for the Year Ended 31 March 2022 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Foxbury Farm (Oxon) Limited (Registered number: 02912369) |
Balance Sheet |
31 March 2022 |
31.3.22 | 31.3.21 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
Foxbury Farm (Oxon) Limited (Registered number: 02912369) |
Balance Sheet - continued |
31 March 2022 |
The director acknowledges his 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 Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Foxbury Farm (Oxon) Limited (Registered number: 02912369) |
Notes to the Financial Statements |
for the Year Ended 31 March 2022 |
1. | STATUTORY INFORMATION |
Foxbury Farm (Oxon) Limited is a private company, limited by shares, domiciled in Scotland, registration number 02912369. The registered office is Union House, 111 New Union Street, Coventry, Warwickshire, CV1 2NT. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
The turnover shown in the Profit and Loss Account represents amounts receivable during the year in relation to trading as a farm, excluding Value Added Tax. Income is recognised at the point the goods or services are provided. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
No depreciation is provided in relation to land, as it is maintained in a good state of repair and is increasing in value. |
Tangible fixed assets are stated at cost less depreciation. Cost represents purchase price together with any incidental cost of acquisition. |
The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible assets are depreciated to nil value. |
Stocks |
Stock is valued at the lower of cost and net realisable value. |
Taxation |
Taxation for the year 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. |
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. |
Foxbury Farm (Oxon) Limited (Registered number: 02912369) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the trading, profit and loss account on a straight line basis. |
Investments |
Fixed asset investments are stated at cost less provision for any permanent diminution in value. |
Provisions |
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material. |
Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 April 2021 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2022 |
DEPRECIATION |
At 1 April 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2022 |
NET BOOK VALUE |
At 31 March 2022 |
At 31 March 2021 |
Included in cost of land and buildings is freehold land of £ 1,473,730 (2021 - £ 1,473,730 ) which is not depreciated. |
Foxbury Farm (Oxon) Limited (Registered number: 02912369) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2021 |
Additions |
At 31 March 2022 |
DEPRECIATION |
At 1 April 2021 |
Charge for year |
At 31 March 2022 |
NET BOOK VALUE |
At 31 March 2022 |
At 31 March 2021 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 April 2021 |
and 31 March 2022 |
NET BOOK VALUE |
At 31 March 2022 |
At 31 March 2021 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Other creditors |
Foxbury Farm (Oxon) Limited (Registered number: 02912369) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Bank loans |
Hire purchase contracts |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
Repayable by instalments |
Bank loans more 5 yr by instal | - | 2,000 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.22 | 31.3.21 |
£ | £ |
Hire purchase contracts | 21,054 | 7,287 |
Bank loan | 730,800 | 730,800 |
Balances due on hire purchase agreements are secured on the assets to which they relate.The bank loan of £730,800 is secured over the farm. |
10. | RELATED PARTY DISCLOSURES |
Other loans of £197,597 (2021- £185,452) are owed to family of the director. No interest is charged on these loans and these are repayable on demand. |