IRIS Accounts Production v23.3.1.45 03110361 director 1.10.22 30.9.23 30.9.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh031103612022-09-30031103612023-09-30031103612022-10-012023-09-30031103612021-09-30031103612021-10-012022-09-30031103612022-09-3003110361ns10:Originalns15:EnglandWales2022-10-012023-09-3003110361ns14:PoundSterlingns10:Original2022-10-012023-09-3003110361ns10:Originalns10:Director12022-10-012023-09-3003110361ns10:Original2022-10-012023-09-3003110361ns10:Original2023-09-3003110361ns10:Originalns10:PrivateLimitedCompanyLtd2022-10-012023-09-3003110361ns10:Originalns10:SmallEntities2022-10-012023-09-3003110361ns10:Originalns10:AuditExempt-NoAccountantsReport2022-10-012023-09-3003110361ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-10-012023-09-3003110361ns10:SmallCompaniesRegimeForAccountsns10:Original2022-10-012023-09-3003110361ns10:Originalns10:FullAccounts2022-10-012023-09-3003110361ns10:CompanySecretary1ns10:Original2022-10-012023-09-3003110361ns10:Originalns10:RegisteredOffice2022-10-012023-09-3003110361ns10:Original2022-09-3003110361ns10:Originalns5:CurrentFinancialInstruments2023-09-3003110361ns10:Originalns5:CurrentFinancialInstruments2022-09-3003110361ns5:ShareCapitalns10:Original2023-09-3003110361ns5:ShareCapitalns10:Original2022-09-3003110361ns10:Originalns5:SharePremium2023-09-3003110361ns10:Originalns5:SharePremium2022-09-3003110361ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-09-3003110361ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-09-3003110361ns10:Originalns5:OwnedOrFreeholdAssetsns5:LandBuildings2022-10-012023-09-3003110361ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2022-10-012023-09-3003110361ns10:Originalns5:PlantMachinery2022-10-012023-09-3003110361ns10:Originalns5:MotorVehicles2022-10-012023-09-3003110361ns10:Originalns5:ComputerEquipment2022-10-012023-09-3003110361ns10:Original2021-10-012022-09-3003110361ns10:Originalns5:LandBuildings2022-09-3003110361ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2022-09-3003110361ns10:Originalns5:PlantMachinery2022-09-3003110361ns10:Originalns5:LandBuildings2022-10-012023-09-3003110361ns10:Originalns5:LandBuildings2023-09-3003110361ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2023-09-3003110361ns10:Originalns5:PlantMachinery2023-09-3003110361ns10:Originalns5:LandBuildings2022-09-3003110361ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2022-09-3003110361ns10:Originalns5:PlantMachinery2022-09-3003110361ns10:Originalns5:MotorVehicles2022-09-3003110361ns10:Originalns5:ComputerEquipment2022-09-3003110361ns10:Original2022-09-3003110361ns10:Originalns5:MotorVehicles2023-09-3003110361ns10:Originalns5:ComputerEquipment2023-09-3003110361ns10:Originalns5:MotorVehicles2022-09-3003110361ns10:Originalns5:ComputerEquipment2022-09-3003110361ns10:Originalns5:CostValuation2022-09-3003110361ns10:Originalns5:DisposalsRepaymentsInvestments2023-09-3003110361ns10:Originalns5:CostValuation2023-09-3003110361ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3003110361ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-09-30
REGISTERED NUMBER: 03110361 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

A E NESBITT FARMS LIMITED

A E NESBITT FARMS LIMITED (REGISTERED NUMBER: 03110361)

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


A E NESBITT FARMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTOR: Mrs A E Nesbitt





SECRETARY: S J Nesbitt





REGISTERED OFFICE: Aquis House
49-51 Blagrave Street
Reading
Berkshire
RG1 1PL





REGISTERED NUMBER: 03110361 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
Aquis House
49-51 Blagrave Street
Reading
Berkshire
RG1 1PL

A E NESBITT FARMS LIMITED (REGISTERED NUMBER: 03110361)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,077,069 4,092,747
Investments 5 130 1,864
4,077,199 4,094,611

CURRENT ASSETS
Stocks 134,200 181,489
Debtors 6 55,076 58,822
Cash at bank 185,805 51,038
375,081 291,349
CREDITORS
Amounts falling due within one year 7 276,066 146,927
NET CURRENT ASSETS 99,015 144,422
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,176,214

4,239,033

CAPITAL AND RESERVES
Called up share capital 2,813,002 2,813,002
Share premium 4,507,000 4,507,000
Retained earnings (3,143,788 ) (3,080,969 )
4,176,214 4,239,033

A E NESBITT FARMS LIMITED (REGISTERED NUMBER: 03110361)

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 her 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 February 2024 and were signed by:





Mrs A E Nesbitt - Director


A E NESBITT FARMS LIMITED (REGISTERED NUMBER: 03110361)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

A E Nesbitt 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.

Going concern
The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company relies on the loan provided by the shareholders, which will not be repaid for the foreseeable future.

Having regard to the above, the director believes it appropriate to adopt the going concern basis of accounting in preparing the financial statements.

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.
Freehold land - Not depreciated
Freehold buildings and property
improvements

-

2% to 10% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles and tractors - 25% on reducing balance
Beef herd - Not depreciated

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 Statement of Income and Retained Earnings, 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.


A E NESBITT FARMS LIMITED (REGISTERED NUMBER: 03110361)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

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.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Freehold
buildings
and
Freehold property Plant and
land improvements machinery
£    £    £   
COST
At 1 October 2022
and 30 September 2023 3,799,504 669,798 180,582
DEPRECIATION
At 1 October 2022 - 410,619 168,655
Charge for year - 8,622 2,982
At 30 September 2023 - 419,241 171,637
NET BOOK VALUE
At 30 September 2023 3,799,504 250,557 8,945
At 30 September 2022 3,799,504 259,179 11,927

A E NESBITT FARMS LIMITED (REGISTERED NUMBER: 03110361)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Motor
vehicles
and
tractors Beef herd Totals
£    £    £   
COST
At 1 October 2022
and 30 September 2023 161,289 5,841 4,817,014
DEPRECIATION
At 1 October 2022 144,993 - 724,267
Charge for year 4,074 - 15,678
At 30 September 2023 149,067 - 739,945
NET BOOK VALUE
At 30 September 2023 12,222 5,841 4,077,069
At 30 September 2022 16,296 5,841 4,092,747

5. FIXED ASSET INVESTMENTS
Other
investment
£   
COST
At 1 October 2022 1,864
Disposals (1,734 )
At 30 September 2023 130
NET BOOK VALUE
At 30 September 2023 130
At 30 September 2022 1,864

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 252 4,133
Other debtors 39,030 40,022
VAT debtor 6,531 5,526
Prepayments and accrued income 9,263 9,141
55,076 58,822

A E NESBITT FARMS LIMITED (REGISTERED NUMBER: 03110361)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 33,323 21,945
Pension creditor 1,931 -
Director's current account 233,377 110,879
Accruals and deferred income 7,435 14,103
276,066 146,927

8. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £1,200 (2022 - £1,793).

Contributions totalling £1,931 (2022 - £1,115) were payable to the fund at the balance sheet date and are included in creditors.