BrightAccountsProduction v1.0.0 v1.0.0 2022-10-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is farming. 21 February 2024 0 0 NI640860 2023-09-30 NI640860 2022-09-30 NI640860 2021-09-30 NI640860 2022-10-01 2023-09-30 NI640860 2021-10-01 2022-09-30 NI640860 uk-bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 NI640860 uk-curr:PoundSterling 2022-10-01 2023-09-30 NI640860 uk-bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 NI640860 uk-bus:AbridgedAccounts 2022-10-01 2023-09-30 NI640860 uk-core:ShareCapital 2023-09-30 NI640860 uk-core:ShareCapital 2022-09-30 NI640860 uk-core:RetainedEarningsAccumulatedLosses 2023-09-30 NI640860 uk-core:RetainedEarningsAccumulatedLosses 2022-09-30 NI640860 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-09-30 NI640860 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-09-30 NI640860 uk-bus:FRS102 2022-10-01 2023-09-30 NI640860 uk-core:Land 2022-10-01 2023-09-30 NI640860 uk-core:PlantMachinery 2022-10-01 2023-09-30 NI640860 uk-core:FurnitureFittingsToolsEquipment 2022-10-01 2023-09-30 NI640860 uk-core:MotorVehicles 2022-10-01 2023-09-30 NI640860 2022-10-01 2023-09-30 NI640860 uk-bus:Director1 2022-10-01 2023-09-30 NI640860 uk-bus:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
JMP Farms Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 30 September 2023



JMP Farms Limited
Company Registration Number: NI640860
ABRIDGED BALANCE SHEET
as at 30 September 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 4 1,877,388 1,510,849
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Current Assets
Stocks 150,333 57,960
Debtors 159,277 83,371
Cash and cash equivalents 368,213 420,687
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677,823 562,018
───────── ─────────
Creditors: amounts falling due within one year (1,241,420) (1,097,429)
───────── ─────────
Net Current Liabilities (563,597) (535,411)
───────── ─────────
Total Assets less Current Liabilities 1,313,791 975,438
 
Creditors:
amounts falling due after more than one year (17,618) (27,728)
 
Government grants (69,728) (104,593)
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Net Assets 1,226,445 843,117
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Capital and Reserves
Called up share capital 1 1
Retained earnings 1,226,444 843,116
───────── ─────────
Equity attributable to owners of the company 1,226,445 843,117
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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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 21 February 2024
           
           
________________________________          
John McParland          
Director          
           



JMP Farms Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 30 September 2023

   
1. General Information
 
JMP Farms Limited is a private company limited by shares incorporated in Northern Ireland. 20 Carrickananny Road, Belleeks, Newry, Co. Down, BT35 7QR, Northern Ireland is the registered office, which is also the principal place of business of the company. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.
The company number is NI640860.

These financial statements cover the individual entity for the year ended 30th September 2023.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 30 September 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Long leasehold property - 4% Straight line
  Plant and machinery - 15% Reducing Balance
  Fixtures, fittings and equipment - 15% Reducing Balance
  Motor vehicles - 20% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The company had no employees in this or the comparative period.
             
4. Tangible assets
  Long Plant and Fixtures, Motor Total
  leasehold machinery fittings and vehicles  
  property   equipment    
  £ £ £ £ £
Cost
At 1 October 2022 481,195 717,384 943,772 50,321 2,192,672
Additions 17,590 166,685 383,525 37,100 604,900
Disposals - (36,085) - - (36,085)
  ───────── ───────── ───────── ───────── ─────────
At 30 September 2023 498,785 847,984 1,327,297 87,421 2,761,487
  ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 October 2022 81,580 199,856 377,652 22,735 681,823
Charge for the financial year 19,582 87,479 85,211 10,004 202,276
  ───────── ───────── ───────── ───────── ─────────
At 30 September 2023 101,162 287,335 462,863 32,739 884,099
  ───────── ───────── ───────── ───────── ─────────
Net book value
At 30 September 2023 397,623 560,649 864,434 54,682 1,877,388
  ═════════ ═════════ ═════════ ═════════ ═════════
At 30 September 2022 399,615 517,528 566,120 27,586 1,510,849
  ═════════ ═════════ ═════════ ═════════ ═════════