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REGISTERED NUMBER: 06536216 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Collins Farming and Forestry Services
Limited

Collins Farming and Forestry Services
Limited (Registered number: 06536216)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


Collins Farming and Forestry Services
Limited (Registered number: 06536216)

Abridged Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,112,400 907,098
Investments 6 20 20
1,112,420 907,118

CURRENT ASSETS
Stocks 34,700 20,300
Debtors 136,731 127,330
Cash at bank 14,367 9,070
185,798 156,700
CREDITORS
Amounts falling due within one year 356,261 294,323
NET CURRENT LIABILITIES (170,463 ) (137,623 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

941,957

769,495

CREDITORS
Amounts falling due after more than one
year

(446,720

)

(442,012

)

PROVISIONS FOR LIABILITIES (96,635 ) (69,422 )
NET ASSETS 398,602 258,061

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 398,601 258,060
SHAREHOLDERS' FUNDS 398,602 258,061

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Collins Farming and Forestry Services
Limited (Registered number: 06536216)

Abridged Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 director and authorised for issue on 10 October 2023 and were signed by:





M R Collins - Director


Collins Farming and Forestry Services
Limited (Registered number: 06536216)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Collins Farming and Forestry Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06536216

Registered office: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Sugar Beet Quota are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on reducing balance
Plant and machinery - 10% on reducing balance and 8% on reducing balance
Motor vehicles - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Collins Farming and Forestry Services
Limited (Registered number: 06536216)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Collins Farming and Forestry Services
Limited (Registered number: 06536216)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022
and 31 March 2023 11,541
AMORTISATION
At 1 April 2022
and 31 March 2023 11,541
NET BOOK VALUE

At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 1,291,759
Additions 226,862
Disposals (15,000 )
At 31 March 2023 1,503,621
DEPRECIATION
At 1 April 2022 384,661
Charge for year 15,400
Eliminated on disposal (4,697 )
Reversal of impairments (4,143 )
At 31 March 2023 391,221
NET BOOK VALUE
At 31 March 2023 1,112,400
At 31 March 2022 907,098

Plant and machinery includes assets with a net book value of £351,097 (2022 - £341,819) subject to hire purchase agreements.

Collins Farming and Forestry Services
Limited (Registered number: 06536216)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 April 2022
and 31 March 2023 20
NET BOOK VALUE
At 31 March 2023 20
At 31 March 2022 20

7. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Hire purchase contracts 291,585 191,156

Hire purchase balances are secured by the individual assets to which the hire purchase liability relates.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
1 Ordinary £1 1 1