Company Registration No. 6261000 (England and Wales)
SOUTHMOOR FARM MACHINERY LIMITED
Unaudited accounts
for the year ended 30 June 2023
SOUTHMOOR FARM MACHINERY LIMITED
Unaudited accounts
Contents
SOUTHMOOR FARM MACHINERY LIMITED
Company Information
for the year ended 30 June 2023
Directors
P A Bragg
N P Bragg
R D Bragg
Company Number
6261000 (England and Wales)
Registered Office
LLOYDS BANK CHAMBERS
HIGH STREET
CREDITON
DEVON
EX17 3AH
UK
Accountants
H W Martin & Co LLP
Lloyds Bank Chambers
High Street
Crediton
Devon
EX17 3AH
SOUTHMOOR FARM MACHINERY LIMITED
Statement of financial position
as at 30 June 2023
Intangible assets
304,141
304,141
Tangible assets
30,412
2,779
Inventories
1,095,295
1,251,873
Creditors: amounts falling due within one year
(604,587)
(531,606)
Net current assets
495,439
773,707
Total assets less current liabilities
829,992
1,080,627
Creditors: amounts falling due after more than one year
(68,619)
(208,047)
Net assets
761,373
872,580
Called up share capital
100
100
Profit and loss account
761,273
872,480
Shareholders' funds
761,373
872,580
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 February 2024 and were signed on its behalf by
N P Bragg
Director
Company Registration No. 6261000
SOUTHMOOR FARM MACHINERY LIMITED
Notes to the Accounts
for the year ended 30 June 2023
SOUTHMOOR FARM MACHINERY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 6261000. The registered office is LLOYDS BANK CHAMBERS, HIGH STREET, CREDITON, DEVON, EX17 3AH, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance basis
Turnover represents amounts receivable for goods supplied in the UK and overseas met of value added tax and other related taxes.
Stocks are stated at the lower of cost and net realisable value. Cost is calculated using the cost is arrived at on an actual basis.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
SOUTHMOOR FARM MACHINERY LIMITED
Notes to the Accounts
for the year ended 30 June 2023
5
Tangible fixed assets
Plant & machinery
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
183,559
93,839
Obligations under finance leases and hire purchase contracts
18,336
-
Trade creditors
16,126
148,480
Taxes and social security
40
1,895
Loans from directors
378,494
285,494
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
39,452
-
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).