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Registration number: 14071825

Sandyhills Farm Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Period from 1 November 2022 to 1 November 2023

 

Sandyhills Farm Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Sandyhills Farm Limited

(Registration number: 14071825)
Abridged Balance Sheet as at 1 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

3,750

Investments

5

1,809

-

 

1,809

3,750

Current assets

 

Stocks

400

3,880

Debtors

855

-

Cash at bank and in hand

 

24

80

 

1,279

3,960

Creditors: Amounts falling due within one year

(15,709)

(13,281)

Net current liabilities

 

(14,430)

(9,321)

Net liabilities

 

(12,621)

(5,571)

Capital and reserves

 

Called up share capital

200

200

Profit and loss account

(12,821)

(5,771)

Total equity

 

(12,621)

(5,571)

 

Sandyhills Farm Limited

(Registration number: 14071825)
Abridged Balance Sheet as at 1 November 2023

For the financial period ending 1 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the period 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 and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 1 August 2024 and signed on its behalf by:
 

Mr R M Bristow

Director

 

Sandyhills Farm Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 November 2022 to 1 November 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:
Calyx House
South Road
Taunton
Somerset
TA1 3DU

These financial statements were authorised for issue by the Board on 1 August 2024.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged 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.

Going concern

The financial statements have been prepared on a going concern basis. Of the company's current liabilities at 1 November 2023 an amount is owed to the directors, who have agreed to continue to support the company, and to not demand repayment of this amount to the extent that any such repayment would jeopardise the future of the company.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.


 

Sandyhills Farm Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 November 2022 to 1 November 2023

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

Plant and machinery

25% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Biological assets

Biological assets, living plants and animals are included at the lower of cost and estimated selling price less costs to sell.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2022 - 2).

 

Sandyhills Farm Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 November 2022 to 1 November 2023

4

Tangible assets

Total
£

Cost or valuation

At 1 November 2022

5,000

Disposals

(5,000)

At 1 November 2023

-

Depreciation

At 1 November 2022

1,250

Eliminated on disposal

(1,250)

At 1 November 2023

-

Carrying amount

At 1 November 2023

-

At 31 October 2022

3,750

5

Investments

Total
£

Cost or valuation

Additions

1,809

Carrying amount

At 1 November 2023

1,809

6

Related party transactions

Advances to directors


Mr R M Bristow

During the period Mr R M Bristow went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £4,237 (2022 - £Nil). At the year end the amount outstanding from Mr R M Bristow was £855 (2022 - £Nil). Interest has been charged at the commercial rate.