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REGISTERED NUMBER: 10874556 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Emery Farms Limited

Emery Farms Limited (Registered number: 10874556)

Contents of the Financial Statements
for the Year Ended 31 October 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


Emery Farms Limited (Registered number: 10874556)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,420,391 1,390,380
1,420,391 1,390,380

CURRENT ASSETS
Stocks 128,569 234,852
Debtors 6 44,916 16,315
Cash at bank 27,707 9,219
201,192 260,386
CREDITORS
Amounts falling due within one year 7 874,042 931,854
NET CURRENT LIABILITIES (672,850 ) (671,468 )
TOTAL ASSETS LESS CURRENT LIABILITIES 747,541 718,912

CREDITORS
Amounts falling due after more than one year 8 (616,209 ) (641,129 )

PROVISIONS FOR LIABILITIES (56,262 ) (46,606 )
NET ASSETS 75,070 31,177

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 74,970 31,077
75,070 31,177

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Emery Farms Limited (Registered number: 10874556)

Balance Sheet - continued
31 October 2023


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by:




Mr M P J Emery - Director Mr T J Emery - Director




Miss G J Emery - Director


Emery Farms Limited (Registered number: 10874556)

Notes to the Financial Statements
for the Year Ended 31 October 2023


1. STATUTORY INFORMATION

Emery Farms Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10874556

Registered office: Badgers Cross Farm
Ashwick
Oakhill
Radstock
Somerset
BA3 5BS

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

BPS entitlements are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on cost and 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value. Home grown produce has been valued in accordance with H M Revenue & Customs guidance HS232.

Emery Farms Limited (Registered number: 10874556)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Classification
The company holds the following financial instruments:

Short term debtors and creditors;
Cash and bank balances; and
Unlisted investments.

All financial instruments are classified as basic.

Recognition and measurement
The company has elected to apply the provisions FRS102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transition costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

Emery Farms Limited (Registered number: 10874556)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


4. INTANGIBLE FIXED ASSETS
BPS
entitlements
£   
COST
At 1 November 2022
and 31 October 2023 4,557
AMORTISATION
At 1 November 2022
and 31 October 2023 4,557
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 November 2022 1,262,499 294,644 20,223 1,577,366
Additions 6,237 - 93,867 100,104
Disposals - (11,500 ) - (11,500 )
At 31 October 2023 1,268,736 283,144 114,090 1,665,970
DEPRECIATION
At 1 November 2022 50,972 118,630 17,384 186,986
Charge for year 12,312 25,295 24,177 61,784
Eliminated on disposal - (3,191 ) - (3,191 )
At 31 October 2023 63,284 140,734 41,561 245,579
NET BOOK VALUE
At 31 October 2023 1,205,452 142,410 72,529 1,420,391
At 31 October 2022 1,211,527 176,014 2,839 1,390,380

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 37,598 10,656
Prepayments 7,318 5,659
44,916 16,315

Emery Farms Limited (Registered number: 10874556)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 60,818 70,619
Hire purchase contracts 47,824 24,167
Trade creditors 116,252 125,115
Tax 28,740 18,630
Social security and other taxes 618 3,129
VAT 49,992 15,735
Other creditors 167,330 214,000
Directors' loan accounts 394,620 456,249
Accrued expenses 7,848 4,210
874,042 931,854

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 243,271 271,805
Bank loans more than 5 years
by instalments 325,793 348,276
Hire purchase contracts 47,145 21,048
616,209 641,129

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
by instalments 325,793 348,276
325,793 348,276