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REGISTERED NUMBER: 00696591 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

C B MORGAN (FARMERS KING'S SOMBORNE) LTD

C B MORGAN (FARMERS KING'S SOMBORNE) LTD (REGISTERED NUMBER: 00696591)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


C B MORGAN (FARMERS KING'S SOMBORNE) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: J B Chalcraft
J M Chalcraft
Mrs A G Tayler
Miss K R Chalcraft



SECRETARY: Martin and Company (Company Secretaries) Limited



REGISTERED OFFICE: New Farm
King's Somborne
Stockbridge
Hampshire
SO20 6PG



REGISTERED NUMBER: 00696591 (England and Wales)



ACCOUNTANTS: Martin and Company
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ



BANKERS: Lloyds TSB Bank Plc
6 Market Place
Romsey
Hampshire
SO51 8YS

C B MORGAN (FARMERS KING'S SOMBORNE) LTD (REGISTERED NUMBER: 00696591)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 35,933 40,247
Investments 5 95 95
36,028 40,342

CURRENT ASSETS
Stocks 142,239 216,123
Debtors 6 917,662 957,132
Cash at bank 4,259 -
1,064,160 1,173,255
CREDITORS
Amounts falling due within one year 7 40,400 182,425
NET CURRENT ASSETS 1,023,760 990,830
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,059,788

1,031,172

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 1,049,788 1,021,172
SHAREHOLDERS' FUNDS 1,059,788 1,031,172

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

C B MORGAN (FARMERS KING'S SOMBORNE) LTD (REGISTERED NUMBER: 00696591)

BALANCE SHEET - continued
31ST 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 21st November 2023 and were signed on its behalf by:





J M Chalcraft - Director


C B MORGAN (FARMERS KING'S SOMBORNE) LTD (REGISTERED NUMBER: 00696591)

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


1. STATUTORY INFORMATION

C B Morgan (Farmers King's Somborne) Ltd 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.

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 - 12.5% on reducing balance, 5% on cost and 2% on cost
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance and 10% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

C B MORGAN (FARMERS KING'S SOMBORNE) LTD (REGISTERED NUMBER: 00696591)

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


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st April 2022 231,138 237,921 469,059
Disposals - (65,922 ) (65,922 )
At 31st March 2023 231,138 171,999 403,137
DEPRECIATION
At 1st April 2022 200,397 228,415 428,812
Charge for year 2,223 1,858 4,081
Eliminated on disposal - (65,689 ) (65,689 )
At 31st March 2023 202,620 164,584 367,204
NET BOOK VALUE
At 31st March 2023 28,518 7,415 35,933
At 31st March 2022 30,741 9,506 40,247

Included in cost of land and buildings is freehold land of £ 20,391 (2022 - £ 20,391 ) which is not depreciated.

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st April 2022
and 31st March 2023 95
NET BOOK VALUE
At 31st March 2023 95
At 31st March 2022 95

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 288 29,542
Other debtors 917,374 927,590
917,662 957,132

C B MORGAN (FARMERS KING'S SOMBORNE) LTD (REGISTERED NUMBER: 00696591)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 92,372
Trade creditors 6,618 8,224
Taxation and social security 6,422 6,189
Other creditors 27,360 75,640
40,400 182,425

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts - 92,372

The bank overdrafts are secured by a legal charge on the company's freehold land and buildings.