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REGISTERED NUMBER: 07981235 (England and Wales)















Financial Statements for the Year Ended 30 April 2023

for

Cupit Farming Limited

Cupit Farming Limited (Registered number: 07981235)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cupit Farming Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: D W Cupit
Mrs M Cupit
W Cupit





REGISTERED OFFICE: Burton Grange Farm
Helperby
York
North Yorkshire
YO61 2RY





REGISTERED NUMBER: 07981235 (England and Wales)





ACCOUNTANTS: Yorkshire Accountants Ripon
Eva Lett House
1 South Crescent
Ripon
North Yorkshire
HG4 1SN

Cupit Farming Limited (Registered number: 07981235)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 513,197 502,803

CURRENT ASSETS
Stocks 113,859 63,169
Debtors 5 35,239 67,125
Cash at bank 12,915 86,755
162,013 217,049
CREDITORS
Amounts falling due within one year 6 153,258 188,198
NET CURRENT ASSETS 8,755 28,851
TOTAL ASSETS LESS CURRENT
LIABILITIES

521,952

531,654

CREDITORS
Amounts falling due after more than one
year

7

(276,072

)

(284,048

)

PROVISIONS FOR LIABILITIES (10,971 ) (10,971 )
NET ASSETS 234,909 236,635

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 234,809 236,535
SHAREHOLDERS' FUNDS 234,909 236,635

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

Cupit Farming Limited (Registered number: 07981235)

Balance Sheet - continued
30 April 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 January 2024 and were signed on its behalf by:





D W Cupit - Director


Cupit Farming Limited (Registered number: 07981235)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Cupit Farming Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and Machinery - 15% on reducing balance
Motor Vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Cupit Farming Limited (Registered number: 07981235)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and Motor
property property Machinery Vehicles Totals
£    £    £    £    £   
COST
At 1 May 2022 427,206 55,282 215,969 18,217 716,674
Additions - - 28,070 - 28,070
Disposals - - - (18,217 ) (18,217 )
At 30 April 2023 427,206 55,282 244,039 - 726,527
DEPRECIATION
At 1 May 2022 - 36,141 164,025 13,705 213,871
Charge for year - 5,163 8,001 - 13,164
Eliminated on disposal - - - (13,705 ) (13,705 )
At 30 April 2023 - 41,304 172,026 - 213,330
NET BOOK VALUE
At 30 April 2023 427,206 13,978 72,013 - 513,197
At 30 April 2022 427,206 19,141 51,944 4,512 502,803

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Improvements
to
property
£   
COST
At 1 May 2022
and 30 April 2023 51,634
DEPRECIATION
At 1 May 2022 30,978
Charge for year 5,163
At 30 April 2023 36,141
NET BOOK VALUE
At 30 April 2023 15,493
At 30 April 2022 20,656

Cupit Farming Limited (Registered number: 07981235)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade Debtors and Prepayments 29,651 66,725
VAT 5,588 400
35,239 67,125

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,747 9,747
Hire purchase contracts - 4,426
Trade Creditors 25,747 40,794
Taxation - 4,685
Directors Current Accounts 117,764 128,546
153,258 188,198

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank Loans 10,325 10,325
Bank loans - 2-5 years 8,391 30,376
Bank loans more 5 yr by instal 257,356 243,347
276,072 284,048

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 257,356 243,347

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 285,819 293,795

The National Westminster Bank holds a fixed charge over Land and Buildings owned by the Company and a floating charge over remaining assets.