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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
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SOUTHMOOR FARM MACHINERY LIMITED Company Information for the year ended 30 June 2023
Directors
P A Bragg N P Bragg R D Bragg
Secretary
P A 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
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SOUTHMOOR FARM MACHINERY LIMITED Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
304,141 
304,141 
Tangible assets
30,412 
2,779 
334,553 
306,920 
Current assets
Inventories
1,095,295 
1,251,873 
Debtors
4,731 
53,440 
1,100,026 
1,305,313 
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 
Capital and reserves
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
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SOUTHMOOR FARM MACHINERY LIMITED Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
Turnover represents amounts receivable for goods supplied in the UK and overseas met of value added tax and other related taxes.
Stock
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
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 July 2022
304,141 
At 30 June 2023
304,141 
Amortisation
At 1 July 2022
- 
At 30 June 2023
- 
Net book value
At 30 June 2023
304,141 
At 30 June 2022
304,141 
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SOUTHMOOR FARM MACHINERY LIMITED Notes to the Accounts for the year ended 30 June 2023
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 July 2022
4,596 
Additions
33,000 
At 30 June 2023
37,596 
Depreciation
At 1 July 2022
1,817 
Charge for the year
5,367 
At 30 June 2023
7,184 
Net book value
At 30 June 2023
30,412 
At 30 June 2022
2,779 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
14,383 
Trade debtors
- 
34,800 
Other debtors
4,731 
4,257 
4,731 
53,440 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
183,559 
93,839 
VAT
7,034 
- 
Obligations under finance leases and hire purchase contracts
18,336 
- 
Trade creditors
16,126 
148,480 
Taxes and social security
40 
1,895 
Other creditors
58 
998 
Loans from directors
378,494 
285,494 
Accruals
940 
900 
604,587 
531,606 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
29,167 
208,047 
Obligations under finance leases and hire purchase contracts
39,452 
- 
68,619 
208,047 
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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