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REGISTERED NUMBER: 05526065 (England and Wales)















Unaudited Financial Statements

for the Period 1 January 2022 to 28 February 2023

for

Frenchbeer Farm Limited

Frenchbeer Farm Limited (Registered number: 05526065)

Contents of the Financial Statements
for the Period 1 January 2022 to 28 February 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


Frenchbeer Farm Limited (Registered number: 05526065)

Balance Sheet
28 February 2023

2023 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 252,711 259,160
Investments 6 30 30
Investment property 7 257,696 237,599
Herd 8 44,164 45,533
554,601 542,322

CURRENT ASSETS
Stocks 67,728 31,522
Debtors 9 63,601 401,880
Cash at bank 344,175 337,096
475,504 770,498
CREDITORS
Amounts falling due within one year 10 56,051 334,359
NET CURRENT ASSETS 419,453 436,139
TOTAL ASSETS LESS CURRENT LIABILITIES 974,054 978,461

CREDITORS
Amounts falling due after more than one year 11 (53,682 ) (62,490 )

PROVISIONS FOR LIABILITIES (21,386 ) (18,268 )
NET ASSETS 898,986 897,703

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 898,984 897,701
SHAREHOLDERS' FUNDS 898,986 897,703

Frenchbeer Farm Limited (Registered number: 05526065)

Balance Sheet - continued
28 February 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 October 2023 and were signed on its behalf by:




Mrs C J Malseed - Director Mr J Malseed - Director




Mrs R Dalton - Director


Frenchbeer Farm Limited (Registered number: 05526065)

Notes to the Financial Statements
for the Period 1 January 2022 to 28 February 2023


1. STATUTORY INFORMATION

Frenchbeer Farm 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: 05526065

Registered office: Frenchbeer Farm
Chagford
Newton Abbot
Devon
TQ13 8EX

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 as modified by the revaluation of certain assets.

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 incorporation of the business in the year of incorporation, has been amortised evenly over its estimated useful life of 10 years.

Intangible assets
Intangible assets are initially measured at fair value at transaction date. After initial recognition, intangible assets are measured at fair value less any accumulated amortisation and any accumulated impairment losses.

BPS entitlements fully amortised by 31 December 2020. (over 6 years)

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tenants improvements - 2% on cost
Plant and machinery - 25% on reducing balance, 10% on cost and 7% on cost
Motor vehicles - 25% on reducing balance
Tractors - 25% on reducing balance

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.

Investment property is carried at fair value, derived from the current market prices for comparable real estate, determined annually by the directors. Changes in fair value are recognised in the profit and loss account.

Stocks
Stock is valued at the lower of cost and net realisable value. Home grown produce has been valued in accordance with H M Revenue & Customs guidance HS232.

Frenchbeer Farm Limited (Registered number: 05526065)

Notes to the Financial Statements - continued
for the Period 1 January 2022 to 28 February 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Classification
The company holds the following financial instruments:

Short term debtors and creditors;
Cash and bank balances; and
Unlisted investments.

All financial instruments are classified as basic.

Recognition and measurement
The company has elected to apply the provisions FRS102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transition costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 period 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2021 - 4 ) .

Frenchbeer Farm Limited (Registered number: 05526065)

Notes to the Financial Statements - continued
for the Period 1 January 2022 to 28 February 2023


4. INTANGIBLE FIXED ASSETS
BPS
Goodwill Entitlements Totals
£    £    £   
COST
At 1 January 2022
and 28 February 2023 10,000 45,080 55,080
AMORTISATION
At 1 January 2022
and 28 February 2023 10,000 45,080 55,080
NET BOOK VALUE
At 28 February 2023 - - -
At 31 December 2021 - - -

5. TANGIBLE FIXED ASSETS
Freehold Tenants Plant and
property improvements machinery
£    £    £   
COST
At 1 January 2022 70,817 42,109 312,478
Additions - 8,754 11,548
At 28 February 2023 70,817 50,863 324,026
DEPRECIATION
At 1 January 2022 - 7,425 168,713
Charge for period - 1,017 29,246
At 28 February 2023 - 8,442 197,959
NET BOOK VALUE
At 28 February 2023 70,817 42,421 126,067
At 31 December 2021 70,817 34,684 143,765

Motor
vehicles Tractors Totals
£    £    £   
COST
At 1 January 2022 19,695 63,800 508,899
Additions 7,980 - 28,282
At 28 February 2023 27,675 63,800 537,181
DEPRECIATION
At 1 January 2022 16,977 56,624 249,739
Charge for period 2,674 1,794 34,731
At 28 February 2023 19,651 58,418 284,470
NET BOOK VALUE
At 28 February 2023 8,024 5,382 252,711
At 31 December 2021 2,718 7,176 259,160

Frenchbeer Farm Limited (Registered number: 05526065)

Notes to the Financial Statements - continued
for the Period 1 January 2022 to 28 February 2023


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2022
and 28 February 2023 30
NET BOOK VALUE
At 28 February 2023 30
At 31 December 2021 30

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2022 237,599
Revaluations 20,097
At 28 February 2023 257,696
NET BOOK VALUE
At 28 February 2023 257,696
At 31 December 2021 237,599

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2020 (4,878 )
Valuation in 2021 (1,412 )
Valuation in 2023 20,097
Cost 243,889
257,696

Frenchbeer Farm Limited (Registered number: 05526065)

Notes to the Financial Statements - continued
for the Period 1 January 2022 to 28 February 2023


8. HERD
Biological Biological
asset - asset -
cattle sheep Totals
£    £    £   
COST
At 1 January 2022 48,924 3,065 51,989
Additions 6,890 - 6,890
Disposals (6,150 ) (3,065 ) (9,215 )
At 28 February 2023 49,664 - 49,664
DEPRECIATION
At 1 January 2022 6,009 447 6,456
Charge for period 723 - 723
Eliminated on disposal (1,232 ) (447 ) (1,679 )
At 28 February 2023 5,500 - 5,500
NET BOOK VALUE
At 28 February 2023 44,164 - 44,164
At 31 December 2021 42,915 2,618 45,533

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Trade debtors 35,064 368,033
Other debtors 28,537 33,847
63,601 401,880

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Bank loans and overdrafts 7,726 7,932
Trade creditors 37,134 187,703
Taxation and social security 2,086 43,873
Other creditors 9,105 94,851
56,051 334,359

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2021
£    £   
Bank loans 53,682 62,490

12. SECURED DEBTS

The following secured debts are included within creditors:

2023 2021
£    £   
Bank loans 61,408 70,422

Frenchbeer Farm Limited (Registered number: 05526065)

Notes to the Financial Statements - continued
for the Period 1 January 2022 to 28 February 2023


13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 28 February 2023 and the year ended 31 December 2021:

2023 2021
£    £   
Mrs C J Malseed
Balance outstanding at start of period (83,667 ) (207,197 )
Amounts advanced 258,988 168,106
Amounts repaid (169,999 ) (44,576 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 5,322 (83,667 )