IRIS Accounts Production v23.3.0.418 04703852 director 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh047038522022-03-31047038522023-03-31047038522022-04-012023-03-31047038522021-03-31047038522021-04-012022-03-31047038522022-03-3104703852ns10:Originalns15:EnglandWales2022-04-012023-03-3104703852ns14:PoundSterlingns10:Original2022-04-012023-03-3104703852ns10:Originalns10:Director12022-04-012023-03-3104703852ns10:Original2022-04-012023-03-3104703852ns10:Original2023-03-3104703852ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3104703852ns10:Originalns10:SmallEntities2022-04-012023-03-3104703852ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3104703852ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3104703852ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3104703852ns10:Originalns10:FullAccounts2022-04-012023-03-3104703852ns10:Originalns10:RegisteredOffice2022-04-012023-03-3104703852ns10:Original2022-03-3104703852ns10:Originalns5:CurrentFinancialInstruments2023-03-3104703852ns10:Originalns5:CurrentFinancialInstruments2022-03-3104703852ns5:ShareCapitalns10:Original2023-03-3104703852ns5:ShareCapitalns10:Original2022-03-3104703852ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3104703852ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3104703852ns10:Originalns5:PlantMachinery2022-04-012023-03-3104703852ns10:Originalns5:MotorVehicles2022-04-012023-03-3104703852ns10:Originalns5:ComputerEquipment2022-04-012023-03-3104703852ns10:Original2021-04-012022-03-3104703852ns10:Originalns5:PlantMachinery2022-03-3104703852ns10:Originalns5:MotorVehicles2022-03-3104703852ns10:Originalns5:ComputerEquipment2022-03-3104703852ns10:Original2022-03-3104703852ns10:Originalns5:PlantMachinery2023-03-3104703852ns10:Originalns5:MotorVehicles2023-03-3104703852ns10:Originalns5:ComputerEquipment2023-03-3104703852ns10:Originalns5:PlantMachinery2022-03-3104703852ns10:Originalns5:MotorVehicles2022-03-3104703852ns10:Originalns5:ComputerEquipment2022-03-3104703852ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3104703852ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3104703852ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3104703852ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-3104703852ns10:Original1ns10:Director12022-03-3104703852ns10:Original1ns10:Director12021-03-3104703852ns10:Original1ns10:Director12022-04-012023-03-3104703852ns10:Original1ns10:Director12021-04-012022-03-3104703852ns10:Original1ns10:Director12023-03-3104703852ns10:Original1ns10:Director12022-03-31
REGISTERED NUMBER: 04703852 (England and Wales)















Methleigh Farm Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2023






Methleigh Farm Ltd (Registered number: 04703852)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Methleigh Farm Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Mr M H Dawson



REGISTERED OFFICE: Lakeside Offices
The Old Cattle Market
Coronation Park
Helston
Cornwall
TR13 0SR



REGISTERED NUMBER: 04703852 (England and Wales)



ACCOUNTANTS: Atkins Ferrie Chartered Accountants
Lakeside Offices
The Old Cattle Market
Coronation Park
Helston
Cornwall
TR13 0SR



BANKERS: Lloyds Bank
1 Market Place
Helston
Cornwall
TR13 8SU

Methleigh Farm Ltd (Registered number: 04703852)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 160,666

CURRENT ASSETS
Stocks - 30,330
Debtors 5 142,696 118,294
Investments 6 - 3,579
Cash at bank and in hand 127,969 24,499
270,665 176,702
CREDITORS
Amounts falling due within one year 7 63,105 127,035
NET CURRENT ASSETS 207,560 49,667
TOTAL ASSETS LESS CURRENT LIABILITIES 207,560 210,333

PROVISIONS FOR LIABILITIES - 30,526
NET ASSETS 207,560 179,807

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 207,460 179,707
SHAREHOLDERS' FUNDS 207,560 179,807

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 October 2023 and were signed by:





Mr M H Dawson - Director


Methleigh Farm Ltd (Registered number: 04703852)

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

1. STATUTORY INFORMATION

Methleigh Farm 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 (£).


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 represents the net invoiced sales of livestock, tillages and contracting, excluding any value added tax. Turnover also includes subsidies received in respect of farm operations.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 10% 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.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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
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 estimated useful lives or the lease term, whichever is the shorter.

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.

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

Methleigh Farm Ltd (Registered number: 04703852)

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

2. ACCOUNTING POLICIES - continued

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.

Going concern
The company ceased trading on 30 September 2022. These accounts therefore have no long term liabilities. The Balance Sheet shows assets and liabilities at their net realisable value as much as can be reliably estimated

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 342,114 14,575 358 357,047
Disposals (342,114 ) (14,575 ) (358 ) (357,047 )
At 31 March 2023 - - - -
DEPRECIATION
At 1 April 2022 189,907 6,377 97 196,381
Eliminated on disposal (189,907 ) (6,377 ) (97 ) (196,381 )
At 31 March 2023 - - - -
NET BOOK VALUE
At 31 March 2023 - - - -
At 31 March 2022 152,207 8,198 261 160,666

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 36,000 30,036
Other debtors 106,696 88,258
142,696 118,294

6. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Cornwall Farmers share account - 3,579

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 41,667
Trade creditors 6,358 18,685
Taxation and social security 52,747 25,334
Other creditors 4,000 41,349
63,105 127,035

Methleigh Farm Ltd (Registered number: 04703852)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   

9. RESERVES
Retained
earnings
£   

At 1 April 2022 179,707
Profit for the year 70,753
Dividends (43,000 )
At 31 March 2023 207,460

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr M H Dawson
Balance outstanding at start of year 66,683 49,835
Amounts advanced 61,701 54,348
Amounts repaid (43,000 ) (37,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 85,384 66,683