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REGISTERED NUMBER: 00676017 (England and Wales)










Unaudited Financial Statements

For The Year Ended 31 January 2024

for

Stallard Farms Limited

Stallard Farms Limited (Registered number: 00676017)






Contents of the Financial Statements
For The Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Stallard Farms Limited

Company Information
For The Year Ended 31 January 2024







DIRECTOR: GMD Stallard





REGISTERED OFFICE: Callow Farm
Ryton
Dymock
Gloucestershire
GL18 2DQ





REGISTERED NUMBER: 00676017 (England and Wales)





ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Stallard Farms Limited (Registered number: 00676017)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 831,867 827,631
Investment property 5 1,648,250 1,735,000
2,480,117 2,562,631

CURRENT ASSETS
Stocks 95,032 137,423
Debtors 6 24,888 17,479
Investments 7 20 20
Cash at bank 851,113 677,425
971,053 832,347
CREDITORS
Amounts falling due within one year 8 99,476 67,068
NET CURRENT ASSETS 871,577 765,279
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,351,694

3,327,910

CREDITORS
Amounts falling due after more than one
year

9

(309,003

)

(325,687

)

PROVISIONS FOR LIABILITIES (379,894 ) (400,522 )
NET ASSETS 2,662,797 2,601,701

CAPITAL AND RESERVES
Called up share capital 50 50
Investment property reserve 11 1,068,923 1,133,986
Capital redemption reserve 50 50
Retained earnings 1,593,774 1,467,615
SHAREHOLDERS' FUNDS 2,662,797 2,601,701

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Stallard Farms Limited (Registered number: 00676017)

Balance Sheet - continued
31 January 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 director and authorised for issue on 27 July 2024 and were signed by:





GMD Stallard - Director


Stallard Farms Limited (Registered number: 00676017)

Notes to the Financial Statements
For The Year Ended 31 January 2024

1. STATUTORY INFORMATION

Stallard Farms Limited 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 as modified by the revaluation of certain assets.

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - not provided
Plant and machinery etc - 25% on cost and 10% on cost

No depreciation is provided on freehold buildings because in the Directors' opinion the real (inflation adjusted) estimated residual value is not less than the carrying value in accounts.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to present location and condition.

Stocks held for distribution at no nominal consideration are measured at cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss

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 balance sheet date.


Stallard Farms Limited (Registered number: 00676017)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
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 year 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 737,523 567,731 1,305,254
Additions - 38,000 38,000
At 31 January 2024 737,523 605,731 1,343,254
DEPRECIATION
At 1 February 2023 - 477,623 477,623
Charge for year - 33,764 33,764
At 31 January 2024 - 511,387 511,387
NET BOOK VALUE
At 31 January 2024 737,523 94,344 831,867
At 31 January 2023 737,523 90,108 827,631

Stallard Farms Limited (Registered number: 00676017)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 71,000
DEPRECIATION
At 1 February 2023 20,765
Charge for year 17,750
At 31 January 2024 38,515
NET BOOK VALUE
At 31 January 2024 32,485
At 31 January 2023 50,235

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 1,735,000
Revaluations (86,750 )
At 31 January 2024 1,648,250
NET BOOK VALUE
At 31 January 2024 1,648,250
At 31 January 2023 1,735,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2015 229,306
Valuation in 2023 1,282,675
Valuation in 2024 (86,750 )
Cost 223,019
1,648,250

If the investment properties had not been revalued they would have been included at the following historical cost:

31.1.24 31.1.23
£    £   
Cost 223,019 223,019

The investment properties were valued on an open market basis on 1 April 2023 by the director .

Stallard Farms Limited (Registered number: 00676017)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 13,800 2,700
Other debtors 11,088 14,779
24,888 17,479

7. CURRENT ASSET INVESTMENTS
31.1.24 31.1.23
£    £   
Unlisted investments 20 20

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts - 92
Hire purchase contracts 9,500 9,500
Trade creditors 48,925 16,543
Tax 37,429 36,823
Other creditors 825 1,313
Directors' current accounts 797 797
Accrued expenses 2,000 2,000
99,476 67,068

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts - 9,500
Directors Loan > 1year 309,003 316,187
309,003 325,687

10. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank overdraft - 92
Hire purchase contracts 9,500 19,000
9,500 19,092

The bank loan is secured by a charge over Callow Farm and Aston Court Farm.

Stallard Farms Limited (Registered number: 00676017)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

11. RESERVES
Investment
property
reserve
£   
At 1 February 2023 1,133,986
Transfer of unrealised gain on
investment properties (86,750 )
Related deferred tax 21,687

At 31 January 2024 1,068,923

12. ULTIMATE CONTROLLING PARTY

The director Mr. GMD Stallard is the ultimate controlling party by virtue of his 100% shareholding.