Company Registration No. 02604279 (England and Wales)
GREEN FARMS (WORCESTERSHIRE) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
GREEN FARMS (WORCESTERSHIRE) LIMITED
COMPANY INFORMATION
Director
Mr R Green
Company number
02604279
Registered office
The Administrative Office
Glebe Farm, Whitemoor Lane
Sambourne
Redditch
Worcestershire
B96 6NT
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Lloyds Bank Plc
19 Church Green East
Redditch
Worcestershire
B98 8BZ
GREEN FARMS (WORCESTERSHIRE) LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
GREEN FARMS (WORCESTERSHIRE) LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GREEN FARMS (WORCESTERSHIRE) LIMITED FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Green Farms (Worcestershire) Limited for the year ended 30 September 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Green Farms (Worcestershire) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Green Farms (Worcestershire) Limited and state those matters that we have agreed to state to the Board of Directors of Green Farms (Worcestershire) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Green Farms (Worcestershire) Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Green Farms (Worcestershire) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Green Farms (Worcestershire) Limited. You consider that Green Farms (Worcestershire) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Green Farms (Worcestershire) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
13 February 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
GREEN FARMS (WORCESTERSHIRE) LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2023
30 September 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,421,912
1,425,400
Investments
4
52
52
1,421,964
1,425,452
Current assets
Stocks
26,746
1,435
Debtors
5
261,557
344,345
Cash at bank and in hand
84,771
100,570
373,074
446,350
Creditors: amounts falling due within one year
6
(246,832)
(270,126)
Net current assets
126,242
176,224
Total assets less current liabilities
1,548,206
1,601,676
Provisions for liabilities
7
-
0
(2,651)
Net assets
1,548,206
1,599,025
Capital and reserves
Called up share capital
8
1,002
1,002
Profit and loss reserves
1,547,204
1,598,023
Total equity
1,548,206
1,599,025

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

GREEN FARMS (WORCESTERSHIRE) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023
30 September 2023
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 13 February 2024.
Mr R Green
Director
Company Registration No. 02604279
GREEN FARMS (WORCESTERSHIRE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 4 -
1
Accounting policies
Company information

Green Farms (Worcestershire) Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Administrative Office, Glebe Farm, Whitemoor Lane, Sambourne, Redditch, Worcestershire, B96 6NT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and property
Nil
Plant and machinery
25% on reducing balance

No depreciation is provided on freehold land and property. This treatment may be a departure from the requirements of the Companies Act 2006 concerning depreciation of fixed assets, however, in the opinion of the director the value of land and property will always be in excess of cost. Accordingly, any element of depreciation would be immaterial and therefore no provision has been made as the residual value would be in excess of cost.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

GREEN FARMS (WORCESTERSHIRE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 5 -

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (2022 - 1).

GREEN FARMS (WORCESTERSHIRE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 6 -
3
Tangible fixed assets
Freehold land and property
Plant and machinery
Total
£
£
£
Cost
At 1 October 2022 and 30 September 2023
1,411,448
23,791
1,435,239
Depreciation and impairment
At 1 October 2022
-
0
9,839
9,839
Depreciation charged in the year
-
0
3,488
3,488
At 30 September 2023
-
0
13,327
13,327
Carrying amount
At 30 September 2023
1,411,448
10,464
1,421,912
At 30 September 2022
1,411,448
13,952
1,425,400
4
Fixed asset investments
2023
2022
£
£
Investments
52
52
Movements in fixed asset investments
Shares in group undertakings
Other investments other than loans
Total
£
£
£
Cost or valuation
At 1 October 2022 & 30 September 2023
2
50
52
Carrying amount
At 30 September 2023
2
50
52
At 30 September 2022
2
50
52
GREEN FARMS (WORCESTERSHIRE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 7 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
152,975
241,907
Amounts owed by group undertakings
81,770
82,365
Other debtors
17,439
20,073
252,184
344,345
Deferred tax asset
9,373
-
0
261,557
344,345
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
27,402
96,538
Taxation and social security
-
0
6,643
Other creditors
219,430
166,945
246,832
270,126
7
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
-
0
2,651
8
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
1,002 Ordinary of £1 each
1,002
1,002
1,002
1,002
9
Ultimate controlling party

The ultimate controlling party is Mr R Green.

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