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Registration number: 10778399

DD Farm Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2022

 

DD Farm Services Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

DD Farm Services Ltd

Company Information

Director

D Fleetwood

Registered office

C/o Accountax Plus
Sandy Cottage
Newton in Cartmel
Grange over Sands
LA11 6JL

Bankers

Virgin Money
Timor House
Mariner Court
Clydebank Business Park
Glasgow
G81 2NR

Accountants

Accountax Plus
Chartered Accountants
Sandy Cottage
Newton in Cartmel
Grange over Sands
LA11 6JL

 

DD Farm Services Ltd

(Registration number: 10778399)

Balance Sheet as at 30 November 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

-

44

Current assets

 

Stocks

5

-

3,617

Debtors

6

1,679

9,388

Cash at bank and in hand

 

130

-

 

1,809

13,005

Creditors: Amounts falling due within one year

7

(3,722)

(12,903)

Net current (liabilities)/assets

 

(1,913)

102

Total assets less current liabilities

 

(1,913)

146

Provisions for liabilities

-

(8)

Net (liabilities)/assets

 

(1,913)

138

Capital and reserves

 

Called up share capital

10

10

Retained earnings

(1,923)

128

Shareholders' (deficit)/funds

 

(1,913)

138

For the financial year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 November 2023
 

 

DD Farm Services Ltd

(Registration number: 10778399)

Balance Sheet as at 30 November 2022

.........................................
D Fleetwood
Director

 

DD Farm Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
C/o Accountax Plus
Sandy Cottage
Newton in Cartmel
Grange over Sands
LA11 6JL

The principal place of business is:
34 Parksway
Knott End on Sea
Lancashire
FY6 0DA

These financial statements were authorised for issue by the director on 16 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. There were no material departures from that standard.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have not been prepared on a going concern basis which the director considers appropriate having regard to the circumstances outlined in the director's report.

Revenue recognition

Turnover represents the value of consideration for goods and services provided stated net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax charge or credit for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

DD Farm Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Other property, plant and equipment

12.5% per annum straight line

Furniture, fittings and equipment

33.3% per annum straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for goods and services provided in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

DD Farm Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments
 

Classification
The following assets and liabilities are classified as basic financial instruments; cash, trade debtors, other debtors (excluding prepayments), accrued income, trade creditors, accruals, bank and other borrowings.

 Recognition and measurement
The recognition and measurement of these financial instruments is as described under the relevant section within this note on accounting policies. Except as disclosed elsewhere within this note basic financial instruments are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment.

 Impairment
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, under a written or implied contract of service, was 1 (2021 - 1).

 

DD Farm Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2021

795

795

Disposals

(795)

(795)

At 30 November 2022

-

-

Depreciation

At 1 December 2021

751

751

Charge for the year

43

43

Eliminated on disposal

(794)

(794)

At 30 November 2022

-

-

Carrying amount

At 30 November 2022

-

-

At 30 November 2021

44

44

5

Stocks

2022
£

2021
£

Finished goods and goods for resale

-

3,617

6

Debtors

2022
£

2021
£

Other debtors

1,679

9,207

Prepayments

-

181

1,679

9,388

Details of non-current trade and other debtors

£Nil (2021 - £1,439) of other debtors is classified as non current. The non current element represents corporation tax recoverable from HM Revenue & Customs under S455 CTA 2010.

 

DD Farm Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

8

-

42

Trade creditors

 

650

300

Taxation and social security

 

-

3,137

Accruals and deferred income

 

50

24

Other creditors

 

3,022

9,400

 

3,722

12,903

8

Loans and borrowings

2022
£

2021
£

Current loans and borrowings

Bank overdrafts

-

42

9

Dividends

   

2022

 

2021

   

£

 

£

Interim dividends of £Nil (2021 - £188.00) per ordinary share

 

-

 

18,800

         

10

Related party transactions

Transactions with the director

2022

At 1 December 2021
£

Advances to director
£

Repayments by director
£

At 30 November 2022
£

D Fleetwood

Loan account

7,727

6,098

(15,701)

(1,876)

         
       

 

 

DD Farm Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

2021

At 1 June 2020
£

Advances to director
£

Repayments by director
£

At 30 November 2021
£

D Fleetwood

Loan account

9,093

45,223

(46,589)

7,727

         
       

 

Directors' remuneration

The director's remuneration for the year was as follows:

2022
£

2021
£

Remuneration

-

3,279

Dividends paid to directors

   

2022
£

 

2021
£

D Fleetwood

       

Interim dividends

 

-

 

18,800

         

Other transactions with directors

During the period the company was charged £208 (2021 - £312) by D Fleetwood for use of his home as an office.