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REGISTERED NUMBER: 07179718 (England and Wales)












BRADES FARM DAIRY LIMITED

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






BRADES FARM DAIRY LIMITED (REGISTERED NUMBER: 07179718)

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










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


BRADES FARM DAIRY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







Directors: Mr J S Towers
Mrs A Towers
Mr E E Towers



Secretary: Mrs A Towers



Registered office: Dalton House
9 Dalton Square
LANCASTER
LA1 1WD



Business address: Green Bank Farm
Farleton
LANCASTER
LA2 9LF



Registered number: 07179718 (England and Wales)



Accountants: Scott & Wilkinson
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD



Bankers: HSBC Bank Plc
35 Market Street
LANCASTER
LA1 1JQ

BRADES FARM DAIRY LIMITED (REGISTERED NUMBER: 07179718)

ABRIDGED BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 348,250 403,500
Tangible assets 5 1,681 1,978
Investments 6 1,010 1,010
350,941 406,488

Current assets
Stocks 9,000 6,300
Debtors 645,630 568,091
Cash at bank 60,909 42,680
715,539 617,071
Creditors
Amounts falling due within one year 1,175,215 1,183,960
Net current liabilities (459,676 ) (566,889 )
Total assets less current liabilities (108,735 ) (160,401 )

Creditors
Amounts falling due after more than one
year

(30,746

)

(40,493

)

Provisions for liabilities (421 ) (376 )

Accruals and deferred income (17,083 ) (20,229 )
Net liabilities (156,985 ) (221,499 )

Capital and reserves
Called up share capital 100 100
Retained earnings (157,085 ) (221,599 )
(156,985 ) (221,499 )

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.

BRADES FARM DAIRY LIMITED (REGISTERED NUMBER: 07179718)

ABRIDGED 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 November 2023 and were signed on its behalf by:





Mr J S Towers - Director


BRADES FARM DAIRY LIMITED (REGISTERED NUMBER: 07179718)

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


1. Statutory information

Brades Farm Dairy 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.

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.

The financial statements have been prepared on a going concern basis, which the directors consider to be appropriate having considered the next 12 months, despite there being net liabilities. The company has received assurances from the directors that they will continue to support the company financially, and that they will not seek repayment of their directors' loan accounts within the next 12 months.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable, for goods provided in the normal course of business, net of discounts, rebates, value added tax and other sales taxes.

Turnover is measured at a point in time when a performance obligation is satisfied by transferring a good to the customer

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% Straight line and 15% 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 are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


BRADES FARM DAIRY LIMITED (REGISTERED NUMBER: 07179718)

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


2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants
The company receives government grants. These grants are recognised at the fair value of the amount received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

3. Employees and directors

The average number of employees during the year was 3 (2022 - 2 ) .

4. Intangible fixed assets
Totals
£   
Cost
At 1 April 2022
and 31 March 2023 1,105,000
Amortisation
At 1 April 2022 701,500
Amortisation for year 55,250
At 31 March 2023 756,750
Net book value

At 31 March 2023 348,250
At 31 March 2022 403,500

BRADES FARM DAIRY LIMITED (REGISTERED NUMBER: 07179718)

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


5. Tangible fixed assets
Totals
£   
Cost
At 1 April 2022 12,339
Disposals (357 )
At 31 March 2023 11,982
Depreciation
At 1 April 2022 10,361
Charge for year 297
Eliminated on disposal (357 )
At 31 March 2023 10,301
Net book value
At 31 March 2023 1,681
At 31 March 2022 1,978

6. Fixed asset investments

Information on investments other than loans is as follows:
Totals
£   
Cost
At 1 April 2022
and 31 March 2023 1,010
Net book value
At 31 March 2023 1,010
At 31 March 2022 1,010