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REGISTERED NUMBER: 06486176 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 September 2023

for

Knightsbridge Farms Limited

Knightsbridge Farms Limited (Registered number: 06486176)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Knightsbridge Farms Limited

Company Information
for the Year Ended 30 September 2023







DIRECTOR: J C H Hewitt





REGISTERED OFFICE: Bennett House
The Dean
Alresford
Hampshire
SO24 9BH





REGISTERED NUMBER: 06486176 (England and Wales)





ACCOUNTANTS: Butler & Co Alresford Limited
Chartered Accountants
Bennett House
The Dean
Alresford
Hampshire
SO24 9BH

Knightsbridge Farms Limited (Registered number: 06486176)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,548,615 1,471,489

CURRENT ASSETS
Stocks 5,000 3,000
Debtors 5 91,277 151,017
Cash at bank 29,231 61,264
125,508 215,281
CREDITORS
Amounts falling due within one year 6 1,814,918 1,783,773
NET CURRENT LIABILITIES (1,689,410 ) (1,568,492 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(140,795

)

(97,003

)

CREDITORS
Amounts falling due after more than one
year

7

(10,650

)

(21,300

)

PROVISIONS FOR LIABILITIES 9 (33,549 ) (36,416 )
NET LIABILITIES (184,994 ) (154,719 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (185,094 ) (154,819 )
SHAREHOLDERS' FUNDS (184,994 ) (154,719 )

Knightsbridge Farms Limited (Registered number: 06486176)

Balance Sheet - continued
30 September 2023


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

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

The director acknowledges his 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.

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 director and authorised for issue on 18 January 2024 and were signed by:





J C H Hewitt - Director


Knightsbridge Farms Limited (Registered number: 06486176)

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

1. STATUTORY INFORMATION

Knightsbridge Farms 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.

The director considers the use of the going concern basis of accounting appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. The financial statements have therefore been prepared on a going concern basis. The director has confirmed that he will continue to support the company and will not recall his loan if it would render the company unable to pay its liabilities as they fall due.

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.
Plant and machinery - 15% reducing balance basis
Fixtures and fittings - 15% reducing balance basis
Motor vehicles - 25% reducing balance basis

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.

Knightsbridge Farms Limited (Registered number: 06486176)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES

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

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 October 2022 201,499 1,083,865 283,750
Additions - 107,628 1,200
Disposals - - (4,000 )
At 30 September 2023 201,499 1,191,493 280,950
DEPRECIATION
At 1 October 2022 - - 108,035
Charge for year - - 26,028
Eliminated on disposal - - (600 )
At 30 September 2023 - - 133,463
NET BOOK VALUE
At 30 September 2023 201,499 1,191,493 147,487
At 30 September 2022 201,499 1,083,865 175,715

Knightsbridge Farms Limited (Registered number: 06486176)

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

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 October 2022 8,498 18,750 1,596,362
Additions - - 108,828
Disposals - - (4,000 )
At 30 September 2023 8,498 18,750 1,701,190
DEPRECIATION
At 1 October 2022 5,207 11,631 124,873
Charge for year 494 1,780 28,302
Eliminated on disposal - - (600 )
At 30 September 2023 5,701 13,411 152,575
NET BOOK VALUE
At 30 September 2023 2,797 5,339 1,548,615
At 30 September 2022 3,291 7,119 1,471,489

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 October 2022
and 30 September 2023 38,000
DEPRECIATION
At 1 October 2022 5,700
Charge for year 4,845
At 30 September 2023 10,545
NET BOOK VALUE
At 30 September 2023 27,455
At 30 September 2022 32,300

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,088 11,016
Other debtors - 1,000
Sandhill Barns Ltd 86,256 129,173
VAT - 9,593
Prepayments 933 235
91,277 151,017

Knightsbridge Farms Limited (Registered number: 06486176)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 19,599
Hire purchase contracts 10,650 24,300
Trade creditors 24,966 12,799
VAT 3,083 -
Other creditors 595 745
Cheverton Aggregates Ltd 324,494 300,000
Directors' current accounts 1,447,130 1,424,330
Accruals and deferred income 4,000 2,000
1,814,918 1,783,773

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 10,650 21,300

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 19,599

The bank loan is secured over 30 acres of land at Knightsbridge Farm.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 33,549 36,416

Deferred
tax
£   
Balance at 1 October 2022 36,416
Accelerated capital allowances (2,867 )
Balance at 30 September 2023 33,549

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

Knightsbridge Farms Limited (Registered number: 06486176)

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

11. RELATED PARTY DISCLOSURES

Sandhill Barns Ltd
Mr J C H Hewitt is a director

During the year the company charge management fees to Sandhill Barns Ltd amounting to £17,883 (2022 - £18,000).

Cheverton Aggregates Ltd
Mr J C H Hewitt is a director

During the year the company wrote off sales to Cheverton Aggregates Ltd amounting to £nil (2022 - £14,000).

Mr J C H Hewitt
Director

During the year the director paid expenses on behalf of the company amounting to £780 (2022 - £780).

2023 2022
Amounts due to/(from) related parties at the balance sheet date: £ £
Mr J C Hewitt 1,447,130 1,424,330
Sandhill Barns Ltd (86,256 ) (129,173 )
Cheverton Aggregates Ltd 324,494 300,000