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REGISTERED NUMBER: 01719581 (England and Wales)















FARMING INVESTMENT COMPANY LIMITED(THE)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2023






FARMING INVESTMENT COMPANY LIMITED(THE) (REGISTERED NUMBER: 01719581)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5

Chartered Accountants' Report 6

FARMING INVESTMENT COMPANY LIMITED(THE)

COMPANY INFORMATION
FOR THE YEAR ENDED 5 APRIL 2023







DIRECTORS: J W H Brown
M W L Brown
R M L Brown





SECRETARY: R M L Brown





REGISTERED OFFICE: 18 Northgate
Sleaford
Lincolnshire
NG34 7BJ





BUSINESS ADDRESS: Manor Farm
39 Town Road
Quarrington
Sleaford
Lincolnshire
NG34 8RS





REGISTERED NUMBER: 01719581 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ

FARMING INVESTMENT COMPANY LIMITED(THE) (REGISTERED NUMBER: 01719581)

STATEMENT OF FINANCIAL POSITION
5 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3 4

CURRENT ASSETS
Stocks 78,850 78,850
Debtors 5 1,237,061 1,022,735
Cash at bank 1,462 -
1,317,373 1,101,585
CREDITORS
Amounts falling due within one year 6 491,028 253,737
NET CURRENT ASSETS 826,345 847,848
TOTAL ASSETS LESS CURRENT LIABILITIES 826,348 847,852

CREDITORS
Amounts falling due after more than one year 7 36,246 40,943
NET ASSETS 790,102 806,909

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 790,100 806,907
SHAREHOLDERS' FUNDS 790,102 806,909

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 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.

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 29 November 2023 and were signed on its behalf by:





J W H Brown - Director


FARMING INVESTMENT COMPANY LIMITED(THE) (REGISTERED NUMBER: 01719581)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

1. STATUTORY INFORMATION

Farming Investment Company Limited(The) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks and work in progress are valued at the lower of cost and fair value less costs to complete and sell after making due allowance for slow moving and obsolete items.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current 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 statement of financial position date.

3. EMPLOYEES AND DIRECTORS

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

FARMING INVESTMENT COMPANY LIMITED(THE) (REGISTERED NUMBER: 01719581)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 6 April 2022
and 5 April 2023 2,120
DEPRECIATION
At 6 April 2022 2,116
Charge for year 1
At 5 April 2023 2,117
NET BOOK VALUE
At 5 April 2023 3
At 5 April 2022 4

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,237,061 1,022,735

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,141 5,425
Trade creditors - 696
Taxation and social security 26,597 45,148
Other creditors 459,290 202,468
491,028 253,737

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 36,246 40,943

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 14,336 19,534

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

FARMING INVESTMENT COMPANY LIMITED(THE) (REGISTERED NUMBER: 01719581)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 5 April 2023 and 5 April 2022:

2023 2022
£    £   
J W H Brown
Balance outstanding at start of year 551,748 521,419
Amounts advanced 1,903 35,329
Amounts repaid (19,824 ) (5,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 533,827 551,748

R M L Brown
Balance outstanding at start of year 227,705 222,861
Amounts advanced - 10,022
Amounts repaid (36,607 ) (5,178 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 191,098 227,705

M W L Brown
Balance outstanding at start of year 6,557 16,963
Amounts advanced - 829
Amounts repaid (461,188 ) (11,235 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (454,631 ) 6,557

The balances outstanding at the end of the year are unsecured and repayable on demand.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
FARMING INVESTMENT COMPANY LIMITED(THE)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Farming Investment Company Limited(The) for the year ended 5 April 2023 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Farming Investment Company Limited(The), as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Farming Investment Company Limited(The) and state those matters that we have agreed to state to the Board of Directors of Farming Investment Company Limited(The), as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Farming Investment Company Limited(The) and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Farming Investment Company Limited(The) has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Farming Investment Company Limited(The). You consider that Farming Investment Company Limited(The) is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Farming Investment Company Limited(The). For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ


Date: .............................................