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REGISTERED NUMBER: 01320420 (England and Wales)












Unaudited Financial Statements

for the Year Ended 5 April 2023

for

R Marginson (Farmers) Limited

R Marginson (Farmers) Limited (Registered number: 01320420)






Contents of the Financial Statements
for the Year Ended 5 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R Marginson (Farmers) Limited

Company Information
for the Year Ended 5 April 2023







DIRECTOR: P Marginson





SECRETARY: Mrs J K M Marginson





REGISTERED OFFICE: Lions Den Farm
Hunsley
Walkington
Beverley
East Yorkshire
HU17 8SZ





REGISTERED NUMBER: 01320420 (England and Wales)





ACCOUNTANTS: Try Lunn & Co
Chartered Accountants
Roland House
Princes Dock Street
HULL HU1 2LD

R Marginson (Farmers) Limited (Registered number: 01320420)

Balance Sheet
5 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 727,794 683,240

CURRENT ASSETS
Stocks 86,483 66,956
Debtors 5 27,517 21,190
Cash at bank and in hand 129,674 103,779
243,674 191,925
CREDITORS
Amounts falling due within one year 6 46,431 46,808
NET CURRENT ASSETS 197,243 145,117
TOTAL ASSETS LESS CURRENT
LIABILITIES

925,037

828,357

CREDITORS
Amounts falling due after more than one
year

7

(41,101

)

(46,784

)

PROVISIONS FOR LIABILITIES 9 (36,238 ) (21,180 )
NET ASSETS 847,698 760,393

CAPITAL AND RESERVES
Called up share capital 10 1,002 1,002
Share premium 11 52,422 52,422
Retained earnings 11 794,274 706,969
SHAREHOLDERS' FUNDS 847,698 760,393

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 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.

R Marginson (Farmers) Limited (Registered number: 01320420)

Balance Sheet - continued
5 April 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 November 2023 and were signed by:





P Marginson - Director


R Marginson (Farmers) Limited (Registered number: 01320420)

Notes to the Financial Statements
for the Year Ended 5 April 2023

1. STATUTORY INFORMATION

R Marginson (Farmers) Limited 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods is recognised when goods are delivered and the legal title has passed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings- 2% on cost and not provided
Plant and machinery etc - 33% on cost, 25% on reducing balance, 15% on reducing
balance and 10% on cost

Stocks
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs are based on the method most appropriate to the type of inventory class. Overheads are charged to the profit or loss as incurred.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in which the reversal occurs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Government grants receivable
Government grants receivable are accounted for in the financial period to which they relate.

R Marginson (Farmers) Limited (Registered number: 01320420)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 6 April 2022 677,261 308,689 985,950
Additions 5,161 95,409 100,570
Disposals - (44,599 ) (44,599 )
At 5 April 2023 682,422 359,499 1,041,921
DEPRECIATION
At 6 April 2022 105,493 197,217 302,710
Charge for year 20,225 25,508 45,733
Eliminated on disposal - (34,316 ) (34,316 )
At 5 April 2023 125,718 188,409 314,127
NET BOOK VALUE
At 5 April 2023 556,704 171,090 727,794
At 5 April 2022 571,768 111,472 683,240

Included in cost of land and buildings is freehold land of £ 406,148 (2022 - £ 406,148 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 13,952 11,922
Other debtors 13,565 9,268
27,517 21,190

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 15,540 5,104
Taxation and social security 14,404 13,354
Other creditors 16,487 28,350
46,431 46,808

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 41,101 46,784

R Marginson (Farmers) Limited (Registered number: 01320420)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Other loans 16,796 16,884

8. SECURED DEBTS

The loan is secured by a charge over the land at Lions Den Farm.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 36,238 21,180

Deferred
tax
£   
Balance at 6 April 2022 21,180
Movement 15,058
Balance at 5 April 2023 36,238

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 'A' Ordinary £1 1,000 1,000
2 'B' Ordinary £1 2 2
1,002 1,002

The 'B' Ordinary Shares carry no voting rights and do not rank pari pasu with the 'A' Ordinary Shares with regards to entitlement to dividends. In the event of a winding up or other distribution of the company assets the holders of the 'B' Ordinary Shares have a priority for the repayment of the amount of capital paid on each share.


11. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 6 April 2022 706,969 52,422 759,391
Profit for the year 87,305 87,305
At 5 April 2023 794,274 52,422 846,696

12. RELATED PARTY DISCLOSURES

At the balance sheet date Mr P Marginson a director was owed £7,581 (2022 £19,778) from the company.

R Marginson (Farmers) Limited (Registered number: 01320420)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2023

13. CONTROLLING PARTY

The company is controlled by Mr P Marginson.