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REGISTERED NUMBER: 00585999 (England and Wales)
















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Garlands Farm Limited

Garlands Farm Limited (Registered number: 00585999)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Garlands Farm Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: Mr J R Harrison





SECRETARY: Mrs C Harrison





REGISTERED OFFICE: Garlands Farm
Haverhill Road
Steeple Bumpstead
Suffolk
CB9 7BL





REGISTERED NUMBER: 00585999 (England and Wales)





ACCOUNTANTS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

Garlands Farm Limited (Registered number: 00585999)

Abridged Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,689,085 2,350,065
Investments 5 225 225
2,689,310 2,350,290

CURRENT ASSETS
Stocks 353,728 239,870
Debtors 443,486 468,313
797,214 708,183
CREDITORS
Amounts falling due within one year 683,511 365,299
NET CURRENT ASSETS 113,703 342,884
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,803,013

2,693,174

CREDITORS
Amounts falling due after more than one
year

(73,837

)

(60,000

)

PROVISIONS FOR LIABILITIES (227,838 ) (163,135 )
NET ASSETS 2,501,338 2,470,039

CAPITAL AND RESERVES
Called up share capital 6 7,600 7,600
Retained earnings 2,493,738 2,462,439
SHAREHOLDERS' FUNDS 2,501,338 2,470,039

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Garlands Farm Limited (Registered number: 00585999)

Abridged Balance Sheet - continued
30 June 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 6 November 2023 and were signed by:





Mr J R Harrison - Director


Garlands Farm Limited (Registered number: 00585999)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Garlands Farm 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 represents net income from sales of crops along with subsidy income, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant & machinery20% reducing balance
Fixtures & fittings15% reducing balance
Motor vehicles25% reducing balance
Tractors & combines15% reducing balance

Freehold property is not depreciated as the director considers that it is not material having regard to the high estimated residual value of the property.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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 year 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.

Garlands Farm Limited (Registered number: 00585999)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2022 4,127,952
Additions 658,938
Disposals (191,570 )
At 30 June 2023 4,595,320
DEPRECIATION
At 1 July 2022 1,777,887
Charge for year 240,965
Eliminated on disposal (112,617 )
At 30 June 2023 1,906,235
NET BOOK VALUE
At 30 June 2023 2,689,085
At 30 June 2022 2,350,065

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 July 2022
and 30 June 2023 290,000
DEPRECIATION
At 1 July 2022
and 30 June 2023 7,270
NET BOOK VALUE
At 30 June 2023 282,730
At 30 June 2022 282,730

Garlands Farm Limited (Registered number: 00585999)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 July 2022
and 30 June 2023 225
NET BOOK VALUE
At 30 June 2023 225
At 30 June 2022 225

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
7,600 Ordinary £1.00 7,600 7,600