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COMPANY REGISTRATION NUMBER: 08338359
James Farms and Consultancy Limited
Unaudited financial statements
29 March 2024
James Farms and Consultancy Limited
Statement of financial position
29 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
218,489
236,575
Current assets
Stocks
2,000
500
Debtors
6
2,126
4,737
Cash at bank and in hand
2,034
337
------
------
6,160
5,574
Creditors: Amounts falling due within one year
7
( 349,855)
( 354,271)
---------
---------
Net current liabilities
( 343,695)
( 348,697)
---------
---------
Total assets less current liabilities
( 125,206)
( 112,122)
---------
---------
Net liabilities
( 125,206)
( 112,122)
---------
---------
Capital and reserves
Called up share capital
300
300
Profit and loss account
( 125,506)
( 112,422)
---------
---------
Shareholders deficit
( 125,206)
( 112,122)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 29 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 1 August 2024 , and are signed on behalf of the board by:
J M James
Director
Company registration number: 08338359
James Farms and Consultancy Limited
Notes to the financial statements
Year ended 29 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Hazel Court, Midland Way, Barlborough, Chesterfield, Derbyshire, S43 4FD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on the going concern basis, the validity of which depends on the continued support of the directors.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
10% straight line
Fixtures and fittings
-
20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of employees during the year was 1 (2023: 1 ).
5. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
Cost
At 30 March 2023
126,774
212,757
695
340,226
Additions
4,229
4,229
Disposals
( 6,640)
( 6,640)
---------
---------
------
---------
At 29 March 2024
126,774
206,117
4,924
337,815
---------
---------
------
---------
Depreciation
At 30 March 2023
102,956
695
103,651
Charge for the year
22,103
212
22,315
Disposals
( 6,640)
( 6,640)
---------
---------
------
---------
At 29 March 2024
118,419
907
119,326
---------
---------
------
---------
Carrying amount
At 29 March 2024
126,774
87,698
4,017
218,489
---------
---------
------
---------
At 29 March 2023
126,774
109,801
236,575
---------
---------
------
---------
6. Debtors
2024
2023
£
£
Other debtors
2,126
4,737
------
------
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Trade creditors
4,813
Other creditors
349,855
349,458
---------
---------
349,855
354,271
---------
---------
8. Director's advances, credits and guarantees
Included within debtors at the year end is a directors loan account of £1,000 (2023: £Nil). The maximum overdrawn balance during the year was £1,000. Interest of £Nil was charged at the official rate.