Registration number:
Ron Morton Farming Limited
for the Year Ended 31 March 2024
Ron Morton Farming Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Ron Morton Farming Limited
Company Information
Directors |
Mrs B Carver Dr V Hudson |
Registered office |
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Accountants |
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Ron Morton Farming Limited
(Registration number: 03336987)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
- |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Capital redemption reserve |
21,200 |
21,200 |
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Retained earnings |
211,822 |
266,593 |
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Shareholders' funds |
233,122 |
287,893 |
Ron Morton Farming Limited
(Registration number: 03336987)
Balance Sheet as at 31 March 2024 (continued)
For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland'.
Approved and authorised by the
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Ron Morton Farming Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital incorporated in England registration number: 03336987.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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 presentation currency is £ sterling.
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 sales/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.
Ron Morton Farming Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)
2 |
Accounting policies (continued) |
Tangible assets
Tangible assets are stated in the balance sheet 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 |
Land |
not depreciated |
Computer equipment |
Straight line over 3 years |
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 |
Other Intangibles |
10% straight line basis |
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Ron Morton Farming Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)
Intangible assets |
Other intangible assets |
Total |
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Cost or valuation |
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At 1 April 2023 |
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Disposals |
( |
( |
At 31 March 2024 |
- |
- |
Amortisation |
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At 1 April 2023 |
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Amortisation eliminated on disposals |
( |
( |
At 31 March 2024 |
- |
- |
Carrying amount |
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At 31 March 2024 |
- |
- |
At 31 March 2023 |
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Ron Morton Farming Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)
Tangible assets |
Land and buildings |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 April 2023 |
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Additions |
- |
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Disposals |
( |
( |
( |
At 31 March 2024 |
- |
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Depreciation |
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At 1 April 2023 |
- |
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Charge for the year |
- |
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Eliminated on disposal |
- |
( |
( |
At 31 March 2024 |
- |
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Carrying amount |
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At 31 March 2024 |
- |
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At 31 March 2023 |
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Included within the net book value of land and buildings above is £Nil (2023 - £25,805) in respect of freehold land and buildings.
Debtors |
2024 |
2023 |
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Other debtors |
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Ron Morton Farming Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Taxation and social security |
- |
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Accruals and deferred income |
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Other creditors |
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