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COMPANY REGISTRATION NUMBER: 11401155
FARMHOUSE CONCEPTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
29 November 2023
FARMHOUSE CONCEPTS LIMITED
FINANCIAL STATEMENTS
PERIOD ENDED 29 NOVEMBER 2023
CONTENTS
PAGE
Statement of financial position
1
Notes to the financial statements
3
FARMHOUSE CONCEPTS LIMITED
STATEMENT OF FINANCIAL POSITION
29 November 2023
2023
2022
Note
£
£
£
CURRENT ASSETS
Stocks
20,000
20,000
Debtors
7
92,011
104,210
Cash at bank and in hand
64,155
51,157
---------
---------
176,166
175,367
CREDITORS: amounts falling due within one year
8
( 71,385)
( 101,623)
---------
---------
NET CURRENT ASSETS
104,781
73,744
---------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
104,781
73,744
CREDITORS: amounts falling due after more than one year
9
( 99,945)
( 71,419)
---------
--------
NET ASSETS
4,836
2,325
---------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
4,736
2,225
-------
-------
SHAREHOLDERS FUNDS
4,836
2,325
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 29 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
FARMHOUSE CONCEPTS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
29 November 2023
These financial statements were approved by the board of directors and authorised for issue on 5 March 2024 , and are signed on behalf of the board by:
J Aspinall
Director
Company registration number: 11401155
FARMHOUSE CONCEPTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD ENDED 29 NOVEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1, Westgate House, Station Parade, Harrogate, HG1 1HQ, England.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods as well as services supplied, exclusive of Value Added Tax.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
33% straight line
Fixtures and fittings
-
33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 17 (2022: 13 ).
5. TAX ON PROFIT
Major components of tax expense
Period from
Year to
1 Dec 21 to
29 Nov 23
29 Nov 22
£
£
Current tax:
UK current tax expense
12,427
--------
----
Tax on profit
12,427
--------
----
6. TANGIBLE ASSETS
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 30 November 2022
58,667
15,202
73,869
Additions
467
467
--------
--------
--------
At 29 November 2023
59,134
15,202
74,336
--------
--------
--------
Depreciation
At 30 November 2022
58,667
15,202
73,869
Charge for the period
467
467
--------
--------
--------
At 29 November 2023
59,134
15,202
74,336
--------
--------
--------
Carrying amount
At 29 November 2023
--------
--------
--------
At 29 November 2022
--------
--------
--------
7. DEBTORS
2023
2022
£
£
Other debtors
92,011
104,210
--------
---------
8. CREDITORS: amounts falling due within one year
2023
2022
£
£
Trade creditors
27,327
77,551
Corporation tax
12,427
Social security and other taxes
22,976
16,856
Other creditors
8,655
7,216
--------
---------
71,385
101,623
--------
---------
9. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
59,805
71,419
Other creditors
40,140
--------
--------
99,945
71,419
--------
--------
10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES