Acorah Software Products - Accounts Production 14.5.501 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 11652480 Mr Jonathan Myhill Mr Benjamin Myhill Mr Sam Myhill iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11652480 2022-12-31 11652480 2023-12-31 11652480 2023-01-01 2023-12-31 11652480 frs-core:CurrentFinancialInstruments 2023-12-31 11652480 frs-core:Non-currentFinancialInstruments 2023-12-31 11652480 frs-core:BetweenOneFiveYears 2023-12-31 11652480 frs-core:ComputerEquipment 2023-12-31 11652480 frs-core:ComputerEquipment 2023-01-01 2023-12-31 11652480 frs-core:ComputerEquipment 2022-12-31 11652480 frs-core:PlantMachinery 2023-12-31 11652480 frs-core:PlantMachinery 2023-01-01 2023-12-31 11652480 frs-core:PlantMachinery 2022-12-31 11652480 frs-core:WithinOneYear 2023-12-31 11652480 frs-core:ShareCapital 2023-12-31 11652480 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11652480 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11652480 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11652480 frs-bus:SmallEntities 2023-01-01 2023-12-31 11652480 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11652480 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11652480 frs-bus:Director1 2023-01-01 2023-12-31 11652480 frs-bus:Director2 2023-01-01 2023-12-31 11652480 frs-bus:Director3 2023-01-01 2023-12-31 11652480 frs-core:Non-currentFinancialInstruments 1 2023-12-31 11652480 frs-countries:EnglandWales 2023-01-01 2023-12-31 11652480 2021-12-31 11652480 2022-12-31 11652480 2022-01-01 2022-12-31 11652480 frs-core:CurrentFinancialInstruments 2022-12-31 11652480 frs-core:Non-currentFinancialInstruments 2022-12-31 11652480 frs-core:BetweenOneFiveYears 2022-12-31 11652480 frs-core:WithinOneYear 2022-12-31 11652480 frs-core:ShareCapital 2022-12-31 11652480 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 11652480 frs-core:Non-currentFinancialInstruments 1 2022-12-31
Registered number: 11652480
MB Farming Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11652480
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 127,064 143,217
127,064 143,217
CURRENT ASSETS
Stocks 5 43,574 6,000
Debtors 6 2,308 1,623
Cash at bank and in hand 77,225 13,956
123,107 21,579
Creditors: Amounts Falling Due Within One Year 7 (174,536 ) (90,484 )
NET CURRENT ASSETS (LIABILITIES) (51,429 ) (68,905 )
TOTAL ASSETS LESS CURRENT LIABILITIES 75,635 74,312
Creditors: Amounts Falling Due After More Than One Year 8 (70,383 ) (108,866 )
NET ASSETS/(LIABILITIES) 5,252 (34,554 )
CAPITAL AND RESERVES
Called up share capital 10 104 104
Profit and Loss Account 5,148 (34,658 )
SHAREHOLDERS' FUNDS 5,252 (34,554)
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jonathan Myhill
Director
Mr Benjamin Myhill
Director
Mr Sam Myhill
Director
26/03/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
MB Farming Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11652480 . The registered office is 11 Trinity Street, Bungay, NR35 1EH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% on reducing balance
Computer Equipment 15% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: NIL)
1 -
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 169,077 - 169,077
Additions 20,923 416 21,339
Disposals (23,680 ) - (23,680 )
As at 31 December 2023 166,320 416 166,736
Depreciation
As at 1 January 2023 25,860 - 25,860
Provided during the period 25,676 16 25,692
Disposals (11,880 ) - (11,880 )
As at 31 December 2023 39,656 16 39,672
Net Book Value
As at 31 December 2023 126,664 400 127,064
As at 1 January 2023 143,217 - 143,217
5. Stocks
2023 2022
£ £
Stock 43,574 6,000
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 2,308 494
VAT - 1,129
2,308 1,623
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 19,027 21,252
Bank loans and overdrafts 68,900 66,732
VAT 23,138 -
Other creditors 60,000 -
Accruals and deferred income 1,311 2,500
Directors' loan accounts 2,160 -
174,536 90,484
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 35,226 54,253
Bank loans 1-2 years 5,787 18,698
Bank loans 2-5 years 18,253 17,744
Bank loans more than 5 years 11,117 18,171
70,383 108,866
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 19,027 21,252
Later than one year and not later than five years 35,226 54,253
54,253 75,505
54,253 75,505
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 104 104
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