Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Restated - note 2 | ||||
Fixed assets | ||||
Investments | 4 |
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1 | 1 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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93,726 | 111,628 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 30,689 | 20,093 | ||
Total assets less current liabilities | 30,690 | 20,094 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Capital redemption reserve |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of FAI Farms Holdings Ltd (registered number:
J G Banfield
Director |
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.
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 £.
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.
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 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.
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.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Investments in subsidiaries
2024 | |
£ | |
Cost | |
At 01 February 2023 |
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At 31 January 2024 |
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Carrying value at 31 January 2024 |
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Carrying value at 31 January 2023 |
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Investments in shares
Name of entity | Registered office | Principal activity | Class of shares |
Ownership 31.01.2024 |
Ownership 31.01.2023 |
Held |
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The Barn, Wytham, Oxford, England, OX2 8QJ | Mixed farming |
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Direct |
2024 | 2023 | ||
£ | £ | ||
Amounts owed by own subsidiaries |
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Corporation tax |
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2024 | 2023 | ||
£ | £ | ||
Amounts owed to own subsidiaries |
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Taxation and social security |
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Other creditors |
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