Furzeleigh Down Dairy Limited 09287882 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is production and selling ice cream. Digita Accounts Production Advanced 6.30.9574.0 true true 09287882 2022-11-01 2023-10-31 09287882 2023-10-31 09287882 core:CurrentFinancialInstruments 2023-10-31 09287882 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 09287882 core:PatentsTrademarksLicencesConcessionsSimilar 2023-10-31 09287882 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-31 09287882 core:PlantMachinery 2023-10-31 09287882 1 2023-10-31 09287882 2 2023-10-31 09287882 3 2023-10-31 09287882 bus:SmallEntities 2022-11-01 2023-10-31 09287882 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 09287882 bus:FilletedAccounts 2022-11-01 2023-10-31 09287882 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 09287882 bus:RegisteredOffice 2022-11-01 2023-10-31 09287882 bus:Director4 2022-11-01 2023-10-31 09287882 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 09287882 core:PatentsTrademarksLicencesConcessionsSimilar 2022-11-01 2023-10-31 09287882 core:Buildings 2022-11-01 2023-10-31 09287882 core:LandBuildings core:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 09287882 core:PlantMachinery 2022-11-01 2023-10-31 09287882 countries:EnglandWales 2022-11-01 2023-10-31 09287882 1 2022-11-01 2023-10-31 09287882 2 2022-11-01 2023-10-31 09287882 3 2022-11-01 2023-10-31 09287882 2022-10-31 09287882 core:PatentsTrademarksLicencesConcessionsSimilar 2022-10-31 09287882 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-31 09287882 core:PlantMachinery 2022-10-31 09287882 1 2022-10-31 09287882 2 2022-10-31 09287882 3 2022-10-31 09287882 2021-11-01 2022-10-31 09287882 2022-10-31 09287882 core:CurrentFinancialInstruments 2022-10-31 09287882 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 09287882 core:PatentsTrademarksLicencesConcessionsSimilar 2022-10-31 09287882 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-31 09287882 core:PlantMachinery 2022-10-31 09287882 1 2022-10-31 09287882 2 2022-10-31 09287882 3 2022-10-31 09287882 1 2021-11-01 2022-10-31 09287882 2 2021-11-01 2022-10-31 09287882 3 2021-11-01 2022-10-31 09287882 1 2021-10-31 09287882 2 2021-10-31 09287882 3 2021-10-31 iso4217:GBP xbrli:pure

Registration number: 09287882

Furzeleigh Down Dairy Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Furzeleigh Down Dairy Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 7

 

Furzeleigh Down Dairy Limited

(Registration number: 09287882)
Statement of Financial Position as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

34

51

Tangible assets

5

10,588

28,704

 

10,622

28,755

Current assets

 

Debtors

6

1,234

770

Cash at bank and in hand

 

31,867

12,572

 

33,101

13,342

Creditors: Amounts falling due within one year

7

(50,329)

(55,291)

Net current liabilities

 

(17,228)

(41,949)

Net liabilities

 

(6,606)

(13,194)

Capital and reserves

 

Called up share capital

400

400

Profit and loss account

(7,006)

(13,594)

Shareholders' deficit

 

(6,606)

(13,194)

For the financial year ending 31 October 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 29 July 2024 and signed on its behalf by:
 


Mrs T A Voysey
Director

 

Furzeleigh Down Dairy Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Furzeleigh Down Farm
Cooks Lane
Axminster
Devon
EX13 5SQ

Principal activity

The principal activity of the company is production and selling ice cream.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Furzeleigh Down Dairy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

2% straight line

Plant and machinery

15% reducing balance

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 reversal at each reporting date.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

 

Furzeleigh Down Dairy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

2

Accounting policies (continued)

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Furzeleigh Down Dairy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 November 2022

170

170

At 31 October 2023

170

170

Amortisation

At 1 November 2022

119

119

Amortisation charge

17

17

At 31 October 2023

136

136

Carrying amount

At 31 October 2023

34

34

At 31 October 2022

51

51

5

Tangible assets

Freehold property
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 November 2022

12,912

64,083

76,995

Disposals

-

(64,083)

(64,083)

At 31 October 2023

12,912

-

12,912

Depreciation

At 1 November 2022

2,066

46,225

48,291

Charge for the year

258

-

258

Eliminated on disposal

-

(46,225)

(46,225)

At 31 October 2023

2,324

-

2,324

Carrying amount

At 31 October 2023

10,588

-

10,588

At 31 October 2022

10,846

17,858

28,704

 

Furzeleigh Down Dairy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

6

Debtors

2023
£

2022
£

Trade debtors

834

370

Other debtors

400

400

1,234

770

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

9

25,097

25,097

Accruals and deferred income

 

2,163

2,125

Other creditors

 

23,069

28,069

 

50,329

55,291

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Furzeleigh Down Dairy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

9

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Bank borrowings

23,996

23,996

Other borrowings

1,101

1,101

25,097

25,097

10

Directors advances, credits and guarantees

Transactions with directors

2023

At 1 November 2022
£

At 31 October 2023
£

Mrs L V Voysey

22,959

22,959

Mrs K E Lane

-

-

Mrs T A Voysey

110

110

 

23,069

23,069

   

 

2022

At 1 November 2021
£

Repayments by director
£

At 31 October 2022
£

Mrs L V Voysey

22,959

-

22,959

Mrs K E Lane

141

(141)

-

Mrs T A Voysey

110

-

110

23,210

(141)

23,069

 

Directors' loans are repayable on demand and subject to interest on overdrawn balances at the official rate.