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Registration number: 07403483

DA, CMJ & LA Tottle Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

DA, CMJ & LA Tottle Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 7

 

DA, CMJ & LA Tottle Limited

(Registration number: 07403483)
Statement of Financial Position as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

277,702

402,247

Other financial assets

5

205

205

 

277,907

402,452

Current assets

 

Stocks

6

55,594

216,175

Debtors

7

190,823

108,999

Cash at bank and in hand

 

251,604

237,818

 

498,021

562,992

Creditors: Amounts falling due within one year

8

(1,082,444)

(1,309,068)

Net current liabilities

 

(584,423)

(746,076)

Net liabilities

 

(306,516)

(343,624)

Capital and reserves

 

Called up share capital

20

20

Profit and loss account

(306,536)

(343,644)

Shareholders' deficit

 

(306,516)

(343,624)

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 9 April 2024 and signed on its behalf by:
 


Mr Derek Tottle
Director

 

DA, CMJ & LA Tottle Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Meadow View
Little Marston Road
Marston Magna
Yeovil
Somerset
BA22 8BN

Principal activity

The principal activity of the company is Farming

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis on the agreement that the directors will continue to support the company for the foreseeable future.

 

DA, CMJ & LA Tottle Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

 

DA, CMJ & LA Tottle Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

DA, CMJ & LA Tottle Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2022

267,231

12,395

217,112

84,375

581,113

Additions

-

16,083

3,645

-

19,728

Disposals

(92,047)

-

(134,891)

(3,900)

(230,838)

At 31 October 2023

175,184

28,478

85,866

80,475

370,003

Depreciation

At 1 November 2022

-

7,874

125,717

45,275

178,866

Charge for the year

-

2,107

12,169

9,750

24,026

Eliminated on disposal

-

-

(106,791)

(3,800)

(110,591)

At 31 October 2023

-

9,981

31,095

51,225

92,301

Carrying amount

At 31 October 2023

175,184

18,497

54,771

29,250

277,702

At 31 October 2022

267,231

4,521

91,395

39,100

402,247

Included within the net book value of land and buildings above is £175,184 (2022 - £267,231) in respect of freehold land and buildings.
 

 

DA, CMJ & LA Tottle Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 November 2022

205

205

At 31 October 2023

205

205

Impairment

Carrying amount

At 31 October 2023

205

205

6

Stocks

2023
£

2022
£

Raw materials and consumables

55,594

216,175

7

Debtors

2023
£

2022
£

Trade debtors

-

5,059

Other debtors

188,911

100,500

Prepayments

1,912

3,440

190,823

108,999

 

DA, CMJ & LA Tottle Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

8,309

8,740

Taxation and social security

-

786

Accruals and deferred income

4,100

3,990

Other creditors

1,070,035

1,295,552

1,082,444

1,309,068

9

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.