Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-312022-08-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01108759 2022-08-01 2023-07-31 01108759 2021-08-01 2022-07-31 01108759 2023-07-31 01108759 2022-07-31 01108759 c:Director2 2022-08-01 2023-07-31 01108759 d:Buildings 2022-08-01 2023-07-31 01108759 d:Buildings 2023-07-31 01108759 d:Buildings 2022-07-31 01108759 d:Buildings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 01108759 d:PlantMachinery 2022-08-01 2023-07-31 01108759 d:PlantMachinery 2023-07-31 01108759 d:PlantMachinery 2022-07-31 01108759 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 01108759 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 01108759 d:PatentsTrademarksLicencesConcessionsSimilar 2023-07-31 01108759 d:PatentsTrademarksLicencesConcessionsSimilar 2022-07-31 01108759 d:CurrentFinancialInstruments 2023-07-31 01108759 d:CurrentFinancialInstruments 2022-07-31 01108759 d:Non-currentFinancialInstruments 2023-07-31 01108759 d:Non-currentFinancialInstruments 2022-07-31 01108759 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 01108759 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 01108759 d:ShareCapital 2023-07-31 01108759 d:ShareCapital 2022-07-31 01108759 d:CapitalRedemptionReserve 2023-07-31 01108759 d:CapitalRedemptionReserve 2022-07-31 01108759 d:RetainedEarningsAccumulatedLosses 2023-07-31 01108759 d:RetainedEarningsAccumulatedLosses 2022-07-31 01108759 c:FRS102 2022-08-01 2023-07-31 01108759 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 01108759 c:FullAccounts 2022-08-01 2023-07-31 01108759 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 01108759










DAVID LOADS (FARMS) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
DAVID LOADS (FARMS) LIMITED
REGISTERED NUMBER:01108759

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,562
214,260

Current assets
  

Stocks
  
-
120,686

Debtors
 6 
286,971
600,829

Cash at bank and in hand
  
1,420,755
175,910

  
1,707,726
897,425

Creditors: amounts falling due within one year
 7 
(100,527)
(217,942)

Net current assets
  
 
 
1,607,199
 
 
679,483

Total assets less current liabilities
  
1,609,761
893,743

Provisions for liabilities
  

Deferred tax
  
(681)
(567)

  
 
 
(681)
 
 
(567)

Net assets
  
1,609,080
893,176


Capital and reserves
  

Called up share capital 
  
700
700

Capital redemption reserve
  
300
300

Profit and loss account
  
1,608,080
892,176

  
1,609,080
893,176


Page 1

 
DAVID LOADS (FARMS) LIMITED
REGISTERED NUMBER:01108759
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
K F J Loads
Director

Date: 24 January 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
DAVID LOADS (FARMS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

David Loads (Farms) Limited is a private company limited by shares and incorporated in England and Wales, registration number 01108759. The registered office is Church Farm, Hindringham, Fakenham, Norfolk, NR21 0PR. 
The company ceased trading on 7 April 2023.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
DAVID LOADS (FARMS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
DAVID LOADS (FARMS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
0 - 10%
Plant & machinery
-
15 - 30%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
DAVID LOADS (FARMS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 6

 
DAVID LOADS (FARMS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Intangible assets




Entitlements

£



Cost


At 1 August 2022
29,160



At 31 July 2023

29,160



Amortisation


At 1 August 2022
29,160



At 31 July 2023

29,160



Net book value



At 31 July 2023
-



At 31 July 2022
-



Page 7

 
DAVID LOADS (FARMS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Tangible fixed assets





Freehold property
Plant & machinery
Total

£
£
£



Cost


At 1 August 2022
211,278
25,001
236,279


Disposals
(211,278)
(9,383)
(220,661)



At 31 July 2023

-
15,618
15,618



Depreciation


At 1 August 2022
-
22,019
22,019


Charge for the year on owned assets
-
129
129


Disposals
-
(9,092)
(9,092)



At 31 July 2023

-
13,056
13,056



Net book value



At 31 July 2023
-
2,562
2,562



At 31 July 2022
211,278
2,982
214,260


6.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
9,100
9,100

Due within one year

Trade debtors
275,418
554,934

Other debtors
2,453
30,559

Prepayments and accrued income
-
6,236

286,971
600,829


Page 8

 
DAVID LOADS (FARMS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
9,659
166,638

Corporation tax
86,851
10,441

Other taxation and social security
-
177

Accruals and deferred income
4,017
40,686

100,527
217,942


Bank overdrafts are secured against the assets of the Company.

Page 9