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REGISTERED NUMBER: NI621924 (Northern Ireland)















J & M FARMS LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






J & M FARMS LTD (REGISTERED NUMBER: NI621924)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


J & M FARMS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mervyn Clarke
Janice Clarke





REGISTERED OFFICE: 43 Dryarch Road
Lisboy
Beragh
Co. Tyrone
BT79 0SQ





REGISTERED NUMBER: NI621924 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly Chartered Accountants
43 Dublin Road
Omagh
Co. Tyrone
BT78 1HE

J & M FARMS LTD (REGISTERED NUMBER: NI621924)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £ £
FIXED ASSETS
Property, plant and equipment 4 320,711 321,912

CURRENT ASSETS
Inventories 4,942 4,942
Debtors 5 10,479 9,652
Cash at bank 1,570 -
16,991 14,594
CREDITORS
Amounts falling due within one year 6 (135,984 ) (79,966 )
NET CURRENT LIABILITIES (118,993 ) (65,372 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

201,718

256,540

CREDITORS
Amounts falling due after more than
one year

7

(16,028

)

(66,731

)
NET ASSETS 185,690 189,809

CAPITAL AND RESERVES
Called up share capital 6,000 6,000
Retained earnings 179,690 183,809
185,690 189,809

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

J & M FARMS LTD (REGISTERED NUMBER: NI621924)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 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 Board of Directors and authorised for issue on 19 April 2024 and were signed on its behalf by:




Mervyn Clarke - Director



Janice Clarke - Director


J & M FARMS LTD (REGISTERED NUMBER: NI621924)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

J & M Farms Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

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

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Nil
Plant and machinery etc - 15% reducing balance

Inventories
Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

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 statement of financial position date.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand and deposits held at call with banks.

Share capital
Ordinary Shares are classified as equity. Incremental costs directly attributable to the issue of new
ordinary shares are shown in equity as a deduction, net of tax, from the proceeds.

3. EMPLOYEES AND DIRECTORS

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

J & M FARMS LTD (REGISTERED NUMBER: NI621924)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1 January 2023 266,323 184,951 451,274
Additions - 15,000 15,000
Disposals - (13,350 ) (13,350 )
At 31 December 2023 266,323 186,601 452,924
DEPRECIATION
At 1 January 2023 - 129,362 129,362
Charge for year - 8,003 8,003
Eliminated on disposal - (5,152 ) (5,152 )
At 31 December 2023 - 132,213 132,213
NET BOOK VALUE
At 31 December 2023 266,323 54,388 320,711
At 31 December 2022 266,323 55,589 321,912

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 7,177 7,177
Other debtors 3,302 2,475
10,479 9,652

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 54,949 46,297
Taxation and social security - 6,279
Other creditors 81,035 27,390
135,984 79,966

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 16,028 66,731