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REGISTERED NUMBER: 12496836 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

CHEF'S FARMS LTD

CHEF'S FARMS LTD (REGISTERED NUMBER: 12496836)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHEF'S FARMS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: T O P Denman





REGISTERED OFFICE: Unit 1
Hurston Street Farm
Hurston
Storrington
West Sussex
RH20 4HF





REGISTERED NUMBER: 12496836 (England and Wales)





ACCOUNTANTS: Galloways Accounting
Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

CHEF'S FARMS LTD (REGISTERED NUMBER: 12496836)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,000 9,000
Tangible assets 5 85,252 25,982
91,252 34,982

CURRENT ASSETS
Debtors 6 51,441 32,915
Cash at bank and in hand 1,034 1,257
52,475 34,172
CREDITORS
Amounts falling due within one year 7 84,890 72,079
NET CURRENT LIABILITIES (32,415 ) (37,907 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

58,837

(2,925

)

CREDITORS
Amounts falling due after more than one year 8 (24,618 ) -

PROVISIONS FOR LIABILITIES (6,544 ) (4,937 )
NET ASSETS/(LIABILITIES) 27,675 (7,862 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 27,575 (7,962 )
SHAREHOLDERS' FUNDS 27,675 (7,862 )

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.

CHEF'S FARMS LTD (REGISTERED NUMBER: 12496836)

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.

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 16 October 2023 and were signed by:





T O P Denman - Director


CHEF'S FARMS LTD (REGISTERED NUMBER: 12496836)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Chef's Farms Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


Each unit has been rounded to the nearest whole pound.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its 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 - Straight line over 5 years
Plant and machinery - Straight line over 3 years
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

CHEF'S FARMS LTD (REGISTERED NUMBER: 12496836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 15,000
AMORTISATION
At 1 April 2022 6,000
Charge for year 3,000
At 31 March 2023 9,000
NET BOOK VALUE
At 31 March 2023 6,000
At 31 March 2022 9,000

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 8,421 3,300 27,995 2,217 41,933
Additions - 11,760 61,688 - 73,448
At 31 March 2023 8,421 15,060 89,683 2,217 115,381
DEPRECIATION
At 1 April 2022 3,049 461 11,373 1,068 15,951
Charge for year 1,685 1,911 9,843 739 14,178
At 31 March 2023 4,734 2,372 21,216 1,807 30,129
NET BOOK VALUE
At 31 March 2023 3,687 12,688 68,467 410 85,252
At 31 March 2022 5,372 2,839 16,622 1,149 25,982

CHEF'S FARMS LTD (REGISTERED NUMBER: 12496836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 40,088 29,389
Other debtors 11,353 3,526
51,441 32,915

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 4,664
Hire purchase contracts (see note 9) 12,423 -
Trade creditors 40,357 24,510
Taxation and social security 3,215 -
Other creditors 28,895 42,905
84,890 72,079

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 24,618 -

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase 11,353 -

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 12,423 -
Between one and five years 13,265 -
In more than five years 11,353 -
37,041 -