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Company No: 12415784 (England and Wales)

FAI FARMS HOLDINGS LTD

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

FAI FARMS HOLDINGS LTD

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

FAI FARMS HOLDINGS LTD

BALANCE SHEET

As at 31 January 2024
FAI FARMS HOLDINGS LTD

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Restated - note 2
Fixed assets
Investments 4 1 1
1 1
Current assets
Debtors 5 17,242 125
Cash at bank and in hand 76,484 111,503
93,726 111,628
Creditors: amounts falling due within one year 6 ( 63,037) ( 91,535)
Net current assets 30,689 20,093
Total assets less current liabilities 30,690 20,094
Net assets 30,690 20,094
Capital and reserves
Called-up share capital 7 7
Capital redemption reserve 1 1
Profit and loss account 30,682 20,086
Total shareholders' funds 30,690 20,094

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of FAI Farms Holdings Ltd (registered number: 12415784) were approved and authorised for issue by the Board of Directors on 07 August 2024. They were signed on its behalf by:

J G Banfield
Director
FAI FARMS HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
FAI FARMS HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

FAI Farms Holdings Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Barn, Wytham, Oxford, OX2 8QJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net assets of £30,690. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Prior year adjustment

The prior year adjustment relates to the balance sheet in the 31 January 2023 accounts and does not affect the profit and loss account. The adjustment relates to the repayment of a Directors Loan Account owed by the company of £5,000 when the director resigned from the company and sold their share back to the company. It reduces the value of the share purchase by £5,000.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 7

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 February 2023 1
At 31 January 2024 1
Carrying value at 31 January 2024 1
Carrying value at 31 January 2023 1

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.01.2024
Ownership
31.01.2023
Held
FAI Farms Limited The Barn, Wytham, Oxford, England, OX2 8QJ Mixed farming Ordinary 100.00% 100.00% Direct

5. Debtors

2024 2023
£ £
Amounts owed by own subsidiaries 5,317 0
Corporation tax 11,925 125
17,242 125

6. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to own subsidiaries 0 30,947
Taxation and social security 36,887 35,018
Other creditors 26,150 25,570
63,037 91,535