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REGISTERED NUMBER: 07645692 (England and Wales)






















Unaudited Financial Statements

for the Period

1 October 2022 to 31 March 2024

for

Folkingham Agriservices Ltd

Folkingham Agriservices Ltd (Registered number: 07645692)






Contents of the Financial Statements
for the Period 1 October 2022 to 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Folkingham Agriservices Ltd

Company Information
for the Period 1 October 2022 to 31 March 2024







DIRECTORS: G J F Atkinson
Mrs C L Atkinson
H E Fountaine





REGISTERED OFFICE: High Park Farm
Kirkby Underwood Road
Aslackby
Sleaford
NG34 0HP





REGISTERED NUMBER: 07645692 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Northgate House
Northgate
Sleaford
Lincolnshire
NG34 7BZ

Folkingham Agriservices Ltd (Registered number: 07645692)

Balance Sheet
31 March 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 892,350 551,805

CURRENT ASSETS
Stocks 9,000 15,000
Debtors 5 214,744 931,333
Cash at bank 560,490 119,677
784,234 1,066,010
CREDITORS
Amounts falling due within one year 6 272,608 398,037
NET CURRENT ASSETS 511,626 667,973
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,403,976

1,219,778

CREDITORS
Amounts falling due after more than one
year

7

(90,000

)

(70,833

)

PROVISIONS FOR LIABILITIES (129,279 ) (104,843 )
NET ASSETS 1,184,697 1,044,102

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 1,184,597 1,044,002
SHAREHOLDERS' FUNDS 1,184,697 1,044,102

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 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.

Folkingham Agriservices Ltd (Registered number: 07645692)

Balance Sheet - continued
31 March 2024


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 9 August 2024 and were signed on its behalf by:




Mrs C L Atkinson - Director



O C Fountaine - Director


Folkingham Agriservices Ltd (Registered number: 07645692)

Notes to the Financial Statements
for the Period 1 October 2022 to 31 March 2024

1. STATUTORY INFORMATION

Folkingham Agriservices Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Computer equipment - 33% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the period 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Folkingham Agriservices Ltd (Registered number: 07645692)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 October 2022 1,203,722 364 63,805 1,267,891
Additions 845,200 391 - 845,591
Disposals (523,795 ) - (56,805 ) (580,600 )
At 31 March 2024 1,525,127 755 7,000 1,532,882
DEPRECIATION
At 1 October 2022 670,759 364 44,963 716,086
Charge for period 193,174 108 4,924 198,206
Eliminated on disposal (229,211 ) - (44,549 ) (273,760 )
At 31 March 2024 634,722 472 5,338 640,532
NET BOOK VALUE
At 31 March 2024 890,405 283 1,662 892,350
At 30 September 2022 532,963 - 18,842 551,805

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 22,437 31,214
Other debtors 192,307 900,119
214,744 931,333

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Hire purchase contracts 140,427 70,833
Trade creditors 66,129 5,766
Taxation and social security 54,669 317,802
Other creditors 11,383 3,636
272,608 398,037

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2022
£    £   
Hire purchase contracts 90,000 70,833

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2022
value: £    £   
90 Ordinary A shares 1 90 90
10 Ordinary B shares 1 10 10
100 100