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REGISTERED NUMBER: 00531079 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

MERRIS BROS (FARMERS) LIMITED

MERRIS BROS (FARMERS) LIMITED (REGISTERED NUMBER: 00531079)

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


MERRIS BROS (FARMERS) LIMITED

COMPANY INFORMATION
for the year ended 31 March 2023







DIRECTOR: W R Merris





SECRETARY: Magma Nominees Limited





REGISTERED OFFICE: Magma House
16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ





REGISTERED NUMBER: 00531079 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Magma House
16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ

MERRIS BROS (FARMERS) LIMITED (REGISTERED NUMBER: 00531079)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 192,456 146,536
Investments 5 19,270 19,270
211,726 165,806

CURRENT ASSETS
Stocks 116,728 74,812
Debtors 6 15,540 2,797
Cash at bank and in hand 101,005 108,936
233,273 186,545
CREDITORS
Amounts falling due within one year 7 (166,792 ) (180,659 )
NET CURRENT ASSETS 66,481 5,886
TOTAL ASSETS LESS CURRENT
LIABILITIES

278,207

171,692

CAPITAL AND RESERVES
Called up share capital 13,000 13,000
Retained earnings 265,207 158,692
278,207 171,692

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 October 2023 and were signed by:





W R Merris - Director


MERRIS BROS (FARMERS) LIMITED (REGISTERED NUMBER: 00531079)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023


1. STATUTORY INFORMATION

Merris Bros (Farmers) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 00531079 and its registered office is Magma House, 16 Davy Court, Castle Mound Way, Rugby, Warwickshire, CV23 0UZ.

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.

The presentational currency of the financial statements is Sterling(£) and figures are rounded to the nearest £1.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Sale of crops and livestock are recognised when the crops and livestock have been sold to the customer, the revenue can be measured reliably and collection is probable.

Farm subsidies and other income is recognised in the period they fall due.

Fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives as indicated below.


Plant and Machinery- 25% on reducing balance
Fixtures and Fittings- 15% on reducing balance
Freehold property held at cost and not depreciated.


The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with carrying amount and are recognised in profit or loss.

Fixed asset investments
Other investments are held at cost and reviewed annually for impairment.

Stocks
Stocks have been stated at a professional valuation, carried out in accordance with BEN 19.


MERRIS BROS (FARMERS) LIMITED (REGISTERED NUMBER: 00531079)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023


2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed at the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered
against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 April 2022 97,064 287,270 69,482 453,816
Additions - 66,424 - 66,424
Disposals - (26,025 ) - (26,025 )
At 31 March 2023 97,064 327,669 69,482 494,215
DEPRECIATION
At 1 April 2022 - 237,996 69,284 307,280
Charge for year - 13,022 30 13,052
Eliminated on disposal - (18,573 ) - (18,573 )
At 31 March 2023 - 232,445 69,314 301,759
NET BOOK VALUE
At 31 March 2023 97,064 95,224 168 192,456
At 31 March 2022 97,064 49,274 198 146,536

MERRIS BROS (FARMERS) LIMITED (REGISTERED NUMBER: 00531079)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022
and 31 March 2023 19,270
NET BOOK VALUE
At 31 March 2023 19,270
At 31 March 2022 19,270

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 15,540 2,797

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 4,912 6,923
Other creditors 161,880 173,736
166,792 180,659