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Registered number: 01667401










CARLETON RODE FARMS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
CARLETON RODE FARMS LIMITED
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2 - 3
Notes to the Financial Statements
 
 
4 - 7


 
CARLETON RODE FARMS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CARLETON RODE FARMS LIMITED
FOR THE YEAR ENDED 30 SEPTEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Carleton Rode Farms 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 https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Carleton Rode Farms Limited, as a body, in accordance with the terms of our engagement letter dated 07 February 2022Our work has been undertaken solely to prepare for your approval the financial statements of Carleton Rode Farms Limited and state those matters that we have agreed to state to the Board of Directors of Carleton Rode Farms Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Carleton Rode Farms Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Carleton Rode Farms 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 Carleton Rode Farms Limited. You consider that Carleton Rode Farms Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Carleton Rode Farms 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.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
11 April 2024
Page 1

 
CARLETON RODE FARMS LIMITED
REGISTERED NUMBER: 01667401

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
22,924
34,231

  
22,924
34,231

Current assets
  

Stocks
  
150,353
176,073

Debtors: amounts falling due within one year
 5 
48,647
54,294

Cash at bank and in hand
  
167,459
234,401

  
366,459
464,768

Creditors: amounts falling due within one year
 6 
(74,698)
(163,892)

Net current assets
  
 
 
291,761
 
 
300,876

Total assets less current liabilities
  
314,685
335,107

Provisions for liabilities
  

Deferred tax
  
(3,446)
(5,240)

  
 
 
(3,446)
 
 
(5,240)

Net assets
  
311,239
329,867


Capital and reserves
  

Called up share capital 
 7 
200
200

Profit and loss account
  
311,039
329,667

  
311,239
329,867


Page 2

 
CARLETON RODE FARMS LIMITED
REGISTERED NUMBER: 01667401
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 April 2024.




Mr J T Laurie
Mrs A L Laurie
Director
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
CARLETON RODE FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

The Company is a private company incorporated in the United Kingdom and is limited by shares. It is registered in England and Wales.  The address of its registered office is The Granary Hall Road, Carleton Rode, Norwich, Norfolk, NR16 1ND.
The company's principle activity is that of arable farming.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
CARLETON RODE FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 
Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the balance sheet date. 
Current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Property improvements
-
10%
Straight line
Plant and equipment
-
15%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Tractors
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks and work in progress

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
CARLETON RODE FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. 


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Property Improvements
Plant & machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 October 2022
168,897
231,466
14,745
415,108


Additions
-
7,500
-
7,500


Disposals
-
(96,127)
-
(96,127)



At 30 September 2023

168,897
142,839
14,745
326,481



Depreciation


At 1 October 2022
162,247
208,550
10,080
380,877


Charge for the year on owned assets
1,864
2,832
1,166
5,862


Disposals
-
(83,182)
-
(83,182)



At 30 September 2023

164,111
128,200
11,246
303,557



Net book value



At 30 September 2023
4,786
14,639
3,499
22,924



At 30 September 2022
6,650
22,916
4,665
34,231

Page 6

 
CARLETON RODE FARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
25,924
40,526

Other debtors
21,299
13,109

Prepayments and accrued income
1,424
659

48,647
54,294



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
22,285
31,422

Other taxation and social security
4,677
16,992

Other creditors
35,039
112,713

Accruals and deferred income
12,697
2,765

74,698
163,892



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1.00 each
100
100
62 A Ordinary shares of £1.00 each
62
62
38 B Ordinary shares of £1.00 each
38
38

200

200



8.


Related party transactions

As at 30 September 2023, the balance due to the directors was £35,039 (2022: £112,713). This loan is included in other creditors due within one year in note 6 to the financial statements The loan is repayable on demand and no interest was charged.

Page 7