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Company registration number: 13153580
Farm Clean Limited
Unaudited filleted financial statements
31 January 2024
THE BARKER PARTNERSHIP
Chartered Accountants
Thirsk
Farm Clean Limited
Contents
Directors and other information
Accountants report
Balance sheet
Notes to the financial statements
Farm Clean Limited
Directors and other information
Directors Mr A Lovell
Mr C Wardhaugh
Company number 13153580
Registered office 162 Hambleton Place
Thirsk
North Yorkshire
YO7 1DW
Accountants The Barker Partnership
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
Farm Clean Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Farm Clean Limited
Year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Farm Clean Limited for the year ended 31 January 2024 which comprise the Balance sheet and 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 Farm Clean Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Farm Clean Limited and state those matters that we have agreed to state to the board of directors of Farm Clean 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 Farm Clean Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Farm Clean 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 profit of Farm Clean Limited. You consider that Farm Clean 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 Farm Clean 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.
The Barker Partnership
Chartered Accountants
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
5 April 2024
Farm Clean Limited
Balance sheet
31 January 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 22,554 20,676
_______ _______
22,554 20,676
Current assets
Debtors 6 32,207 7,293
Cash at bank and in hand 11,970 12,530
_______ _______
44,177 19,823
Creditors: amounts falling due
within one year 7 ( 31,138) ( 17,201)
_______ _______
Net current assets 13,039 2,622
_______ _______
Total assets less current liabilities 35,593 23,298
Provisions for liabilities ( 4,285) ( 3,928)
_______ _______
Net assets 31,308 19,370
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 31,306 19,368
_______ _______
Shareholders funds 31,308 19,370
_______ _______
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 05 April 2024 , and are signed on behalf of the board by:
Mr A Lovell
Director
Company registration number: 13153580
Farm Clean Limited
Notes to the financial statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 162 Hambleton Place, Thirsk, North Yorkshire, YO7 1DW.
The principal activity of the company is that of agricultural hygiene cleaning services.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting dat. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is possible that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and are 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 - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reverdsal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 February 2023 27,040 2,375 29,415
Additions 9,070 - 9,070
_______ _______ _______
At 31 January 2024 36,110 2,375 38,485
_______ _______ _______
Depreciation
At 1 February 2023 8,294 445 8,739
Charge for the year 6,954 238 7,192
_______ _______ _______
At 31 January 2024 15,248 683 15,931
_______ _______ _______
Carrying amount
At 31 January 2024 20,862 1,692 22,554
_______ _______ _______
At 31 January 2023 18,746 1,930 20,676
_______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 31,579 6,480
Other debtors 628 813
_______ _______
32,207 7,293
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 326 -
Corporation tax 21,589 9,644
Social security and other taxes 7,475 3,940
Other creditors 1,748 3,617
_______ _______
31,138 17,201
_______ _______
8. Related party transactions
Mr A Lovell , a director and shareholder of the company, provided an interest free, unsecured loan to the company. The balance on this loan which is included within creditors at the year end was £374 (2023 - £62). Mr C Wardhaugh , a director and shareholder of the company, provided an interest free, unsecured loan to the company. The balance on this loan which is included within creditors at the year end was £374 (2023 - £62).