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REGISTERED NUMBER: 01452452 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Marcombe Valley Farms Limited

Marcombe Valley Farms Limited (Registered number: 01452452)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Marcombe Valley Farms Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: C H Doble





SECRETARY: C H Doble





REGISTERED OFFICE: The Estate Office
Ashbrittle
Somerset
TA21 0LQ





REGISTERED NUMBER: 01452452 (England and Wales)





ACCOUNTANTS: GSS Accountants Limited
Rumwell Hall
Rumwell
Taunton
Somerset
TA4 1EL

Marcombe Valley Farms Limited (Registered number: 01452452)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 870,257 169,731

CURRENT ASSETS
Stocks 6,200 6,350
Debtors 5 7,899 25,820
Cash at bank 17,238 10,170
31,337 42,340
CREDITORS
Amounts falling due within one year 6 68,638 109,584
NET CURRENT LIABILITIES (37,301 ) (67,244 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

832,956

102,487

CREDITORS
Amounts falling due after more than one
year

7

(45,000

)

(45,000

)

PROVISIONS FOR LIABILITIES (133,882 ) (1,732 )
NET ASSETS 654,074 55,755

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 8 577,613 8,329
Retained earnings 75,461 46,426
654,074 55,755

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 director acknowledges his 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.

Marcombe Valley Farms Limited (Registered number: 01452452)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 July 2024 and were signed by:





C H Doble - Director


Marcombe Valley Farms Limited (Registered number: 01452452)

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

1. STATUTORY INFORMATION

Marcombe Valley Farms Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

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

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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

Marcombe Valley Farms Limited (Registered number: 01452452)

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

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 November 2022 168,353 32,440 14,460 215,253
Revaluations 696,647 - - 696,647
At 31 October 2023 865,000 32,440 14,460 911,900
DEPRECIATION
At 1 November 2022 5,000 27,703 12,819 45,522
Charge for year - 711 410 1,121
Revaluation adjustments (5,000 ) - - (5,000 )
At 31 October 2023 - 28,414 13,229 41,643
NET BOOK VALUE
At 31 October 2023 865,000 4,026 1,231 870,257
At 31 October 2022 163,353 4,737 1,641 169,731

Cost or valuation at 31 October 2023 is represented by:

Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
Valuation in 2007 13,849 - - 13,849
Valuation in 2023 696,647 - - 696,647
Cost 154,504 32,440 14,460 201,404
865,000 32,440 14,460 911,900

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 154,504 154,504
Aggregate depreciation 5,000 5,000

Value of land in freehold land and buildings 163,353 163,353

Freehold land and buildings were valued on an open market basis on 8 August 2023 by Sworders .

Marcombe Valley Farms Limited (Registered number: 01452452)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 7,534 25,035
VAT 365 785
7,899 25,820

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 250 139
Tax - 899
Other creditors 19,324 53,194
Directors' current accounts 48,064 54,352
Accruals and deferred income 1,000 1,000
68,638 109,584

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Directors' loan accounts 45,000 45,000

8. RESERVES
Revaluation
reserve
£   
At 1 November 2022 8,329
Tfr to revaluation reserve 569,284

At 31 October 2023 577,613