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REGISTERED NUMBER: NI653002 (Northern Ireland)















COULTER FARMS LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023






COULTER FARMS LTD (REGISTERED NUMBER: NI653002)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COULTER FARMS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: W R Coulter
H E Coulter
C Coulter
D R Coulter



SECRETARY: W R Coulter



REGISTERED OFFICE: 28 Tattyknuckle Road
Fivemiletown
Co. Tyrone
BT75 0TA



REGISTERED NUMBER: NI653002 (Northern Ireland)



ACCOUNTANTS: CavanaghKelly
1 Broadmeadow Place
Unit 2 Castle Island Court
Enniskillen
Co. Fermanagh
BT74 7HR



BANKERS: Danske Bank
Agribusiness
PO Box 183
Donegall Square West
Belfast
BT1 6JS

COULTER FARMS LTD (REGISTERED NUMBER: NI653002)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 4 1,748,062 1,548,709

CURRENT ASSETS
Stocks 210,065 233,295
Debtors 5 159,761 133,351
Investments 6 159 159
Cash at bank and in hand 384,564 169,229
754,549 536,034
CREDITORS
Amounts falling due within one year 7 (1,277,719 ) (1,197,551 )
NET CURRENT LIABILITIES (523,170 ) (661,517 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,224,892

887,192

PROVISIONS FOR LIABILITIES (129,062 ) (78,958 )
NET ASSETS 1,095,830 808,234

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,095,730 808,134
SHAREHOLDERS' FUNDS 1,095,830 808,234

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 directors acknowledge their 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.

COULTER FARMS LTD (REGISTERED NUMBER: NI653002)

BALANCE SHEET - continued
31 MARCH 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 Board of Directors and authorised for issue on 11 September 2023 and were signed on its behalf by:




W R Coulter - Director



H E Coulter - Director


COULTER FARMS LTD (REGISTERED NUMBER: NI653002)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Coulter Farms Ltd is a private company, limited by shares , registered in Northern Ireland. 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.

The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

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

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 - Nil
Plant and machinery etc - 20% reducing balance

Stocks
Livestock, dairy herd and breeding stock are stated at the lower of cost and net realizable value. where appropriate cost is arrived at as follows:

60% of market value for cattle bred on the farm or purchased as immature stock.

Feedstuffs, fertilizers, seeds and sprays are stated at the lower of cost or net realisable value.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

COULTER FARMS LTD (REGISTERED NUMBER: NI653002)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1 April 2022 1,177,000 563,417 1,740,417
Additions - 369,510 369,510
Disposals - (53,500 ) (53,500 )
At 31 March 2023 1,177,000 879,427 2,056,427
DEPRECIATION
At 1 April 2022 - 191,708 191,708
Charge for year - 142,765 142,765
Eliminated on disposal - (26,108 ) (26,108 )
At 31 March 2023 - 308,365 308,365
NET BOOK VALUE
At 31 March 2023 1,177,000 571,062 1,748,062
At 31 March 2022 1,177,000 371,709 1,548,709

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 95,500 85,705
Other debtors 64,261 47,646
159,761 133,351

6. CURRENT ASSET INVESTMENTS
2023 2022
£ £
Unlisted investments 159 159

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 237,238 162,243
Taxation and social security 19,233 13,141
Other creditors 1,021,248 1,022,167
1,277,719 1,197,551