Company registration number 03345157 (England and Wales)
OAKLEIGH FARMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JANUARY 2023
PAGES FOR FILING WITH REGISTRAR
OAKLEIGH FARMS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
OAKLEIGH FARMS LIMITED (REGISTERED NUMBER: 03345157)
BALANCE SHEET
AS AT 29 JANUARY 2023
29 January 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
215,169
165,109
Investments
5
48
48
215,217
165,157
Current assets
Stocks
26,048
22,600
Debtors
6
83,376
49,021
Cash at bank and in hand
26,833
81,441
136,257
153,062
Creditors: amounts falling due within one year
7
(78,918)
(97,610)
Net current assets
57,339
55,452
Total assets less current liabilities
272,556
220,609
Creditors: amounts falling due after more than one year
8
(49,879)
(34,648)
Provisions for liabilities
(34,712)
(26,985)
Net assets
187,965
158,976
Capital and reserves
Called up share capital
10
61,113
61,113
Profit and loss reserves
126,852
97,863
Total equity
187,965
158,976

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 29 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

OAKLEIGH FARMS LIMITED (REGISTERED NUMBER: 03345157)
BALANCE SHEET (CONTINUED)
AS AT 29 JANUARY 2023
29 January 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 2 September 2023 and are signed on its behalf by:
J R Worley
Director
OAKLEIGH FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JANUARY 2023
- 3 -
1
Accounting policies
Company information

Oakleigh Farms Limited is a private company limited by shares incorporated in England and Wales. The registered office is Oakleigh Farm, Higham, Rochester, Kent, ME3 7HY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
- 10% on reducing balance
Leasehold land and buildings
No depreciation provided
Plant and equipment
- 15% on reducing balance
Fixtures and fittings
- 15% on reducing balance
Computers
- 25% on reducing balance
Motor vehicles
- 15% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

OAKLEIGH FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JANUARY 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Fixed asset investments

Other investments are being recognised at historic cost and are being reviewed each year for changes in market value.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.8
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.10
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

OAKLEIGH FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JANUARY 2023
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
6
5
3
Intangible fixed assets
Goodwill
£
Cost
At 30 January 2022 and 29 January 2023
5,000
Amortisation and impairment
At 30 January 2022 and 29 January 2023
5,000
Carrying amount
At 29 January 2023
-
0
At 29 January 2022
-
0
OAKLEIGH FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JANUARY 2023
- 6 -
4
Tangible fixed assets
Freehold land and buildings
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
£
Cost
At 30 January 2022
92,065
10,000
415,159
2,933
-
0
25,828
545,985
Additions
59,133
-
0
22,459
-
0
508
-
0
82,100
At 29 January 2023
151,198
10,000
437,618
2,933
508
25,828
628,085
Depreciation and impairment
At 30 January 2022
80,572
-
0
279,640
995
-
0
19,669
380,876
Depreciation charged in the year
7,333
-
0
22,823
291
53
1,540
32,040
At 29 January 2023
87,905
-
0
302,463
1,286
53
21,209
412,916
Carrying amount
At 29 January 2023
63,293
10,000
135,155
1,647
455
4,619
215,169
At 29 January 2022
11,493
10,000
135,519
1,938
-
0
6,159
165,109
OAKLEIGH FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JANUARY 2023
- 7 -
5
Fixed asset investments
2023
2022
£
£
Other investments other than loans
48
48
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
65,856
15,778
Other debtors
17,520
33,243
83,376
49,021
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
9,908
9,655
Taxation and social security
4,707
8,746
Other creditors
64,303
79,209
78,918
97,610
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
31,039
34,046
Other creditors
18,840
602
49,879
34,648
9
Finance lease obligations
2023
2022
Future minimum lease payments due under finance leases:
£
£
Within one year
602
2,600
In two to five years
18,840
602
19,442
3,202
OAKLEIGH FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JANUARY 2023
- 8 -
10
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
61,113
61,113
61,113
61,113
11
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
40,947
45,710
2023-01-292022-01-30false02 September 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityJ R WorleyR J Worleyfalse033451572022-01-302023-01-29033451572023-01-29033451572022-01-2903345157core:LandBuildingscore:OwnedOrFreeholdAssets2023-01-2903345157core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-01-2903345157core:PlantMachinery2023-01-2903345157core:FurnitureFittings2023-01-2903345157core:ComputerEquipment2023-01-2903345157core:MotorVehicles2023-01-2903345157core:LandBuildingscore:OwnedOrFreeholdAssets2022-01-2903345157core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-01-2903345157core:PlantMachinery2022-01-2903345157core:FurnitureFittings2022-01-2903345157core:ComputerEquipment2022-01-2903345157core:MotorVehicles2022-01-2903345157core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-2903345157core:CurrentFinancialInstrumentscore:WithinOneYear2022-01-2903345157core:Non-currentFinancialInstrumentscore:AfterOneYear2023-01-2903345157core:Non-currentFinancialInstrumentscore:AfterOneYear2022-01-2903345157core:CurrentFinancialInstruments2023-01-2903345157core:CurrentFinancialInstruments2022-01-2903345157core:Non-currentFinancialInstruments2023-01-2903345157core:Non-currentFinancialInstruments2022-01-2903345157core:ShareCapital2023-01-2903345157core:ShareCapital2022-01-2903345157core:RetainedEarningsAccumulatedLosses2023-01-2903345157core:RetainedEarningsAccumulatedLosses2022-01-2903345157bus:Director12022-01-302023-01-2903345157core:Goodwill2022-01-302023-01-2903345157core:LandBuildingscore:OwnedOrFreeholdAssets2022-01-302023-01-2903345157core:LandBuildingscore:LongLeaseholdAssets2022-01-302023-01-2903345157core:PlantMachinery2022-01-302023-01-2903345157core:FurnitureFittings2022-01-302023-01-2903345157core:ComputerEquipment2022-01-302023-01-2903345157core:MotorVehicles2022-01-302023-01-29033451572021-01-302022-01-2903345157core:NetGoodwill2022-01-2903345157core:NetGoodwill2023-01-2903345157core:NetGoodwill2022-01-2903345157core:LandBuildingscore:OwnedOrFreeholdAssets2022-01-2903345157core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-01-2903345157core:PlantMachinery2022-01-2903345157core:FurnitureFittings2022-01-2903345157core:ComputerEquipment2022-01-2903345157core:MotorVehicles2022-01-29033451572022-01-2903345157core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-01-302023-01-2903345157core:WithinOneYear2023-01-2903345157core:WithinOneYear2022-01-2903345157core:BetweenTwoFiveYears2023-01-2903345157core:BetweenTwoFiveYears2022-01-2903345157bus:PrivateLimitedCompanyLtd2022-01-302023-01-2903345157bus:SmallCompaniesRegimeForAccounts2022-01-302023-01-2903345157bus:FRS1022022-01-302023-01-2903345157bus:AuditExemptWithAccountantsReport2022-01-302023-01-2903345157bus:Director22022-01-302023-01-2903345157bus:FullAccounts2022-01-302023-01-29xbrli:purexbrli:sharesiso4217:GBP