Registered number
00473358
Samsons (Farms) Limited
Unaudited Filleted Accounts
31 March 2023
Samsons (Farms) Limited
Registered number: 00473358
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 1,968,801 2,094,153
Current assets
Debtors 4 - 1,269
Cash at bank and in hand 81,647 109,203
81,647 110,472
Creditors: amounts falling due within one year 5 (16,800) (10,333)
Net current assets 64,847 100,139
Total assets less current liabilities 2,033,648 2,194,292
Provisions for liabilities (20,775) (41,390)
Net assets 2,012,873 2,152,902
Capital and reserves
Called up share capital 22,754 22,754
Other Reserves 5,225 5,225
Revaluation reserve 6 88,568 176,455
Profit and loss account 1,896,326 1,948,468
Shareholders' funds 2,012,873 2,152,902
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S F Cosens
Director
Approved by the board on 3 November 2023
Samsons (Farms) Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Investments
Investments held as fixed assets are measured at fair value. Changes in fair value are included in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the investments are sold.Unlisted investments are measured at fair value unless the value cannot be measured reliably,in which case they are measured at cost less any impairment losses.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Investments
Other
investments
£
Fair Value
At 1 April 2022 2,094,153
Additions 612,141
Revaluation (108,502)
Disposals (628,991)
At 31 March 2023 1,968,801
Historical cost
At 1 April 2022 1,876,308
At 31 March 2023 1,859,458
4 Debtors 2023 2022
£ £
Dividends Receivable - 1,269
5 Creditors: amounts falling due within one year 2023 2022
£ £
Directors current account 7,200 533
Accruals 9,600 9,800
16,800 10,333
6 Revaluation reserve 2023 2022
£ £
At 1 April 2022 176,455 135,888
Transfer from / (to) profit & loss account (87,887) 40,567
At 31 March 2023 88,568 176,455
7 Related party transactions
Dividends Paid to Directors
Dividends Paid to Directors in their capacity as shareholders during the year amounted to £62,667.
8 Controlling party
The director, F W R Cosens, is the ultimate controlling party by virtue of his shareholding in the ordinary share capital of the company.
9 Other information
Samsons (Farms) Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Bonhill Street
London
EC2A 4DJ
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