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Registered number: 02061938
Manor Farm Packers Limited
Unaudited Financial Statements
For The Year Ended 5 April 2024
Compton Hardwick Ltd
20 Elin Way
Meldreth
Royston
Hertfordshire
SG86LX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02061938
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 254,770 263,423
Investments 5 149,764 138,938
404,534 402,361
CURRENT ASSETS
Debtors 6 38,772 28,043
Cash at bank and in hand 100,412 112,020
139,184 140,063
Creditors: Amounts Falling Due Within One Year 7 (12,586 ) (11,401 )
NET CURRENT ASSETS (LIABILITIES) 126,598 128,662
TOTAL ASSETS LESS CURRENT LIABILITIES 531,132 531,023
NET ASSETS 531,132 531,023
CAPITAL AND RESERVES
Called up share capital 8 10,000 10,000
Revaluation reserve 10 36,799 38,770
Profit and Loss Account 484,333 482,253
SHAREHOLDERS' FUNDS 531,132 531,023
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Page 2
For the year ending 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs B J Smith
Director
09/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Manor Farm Packers Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02061938 . The registered office is The Red House, 27 Cow Lane, Rampton, Cambridge, CB24 8QG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% per annum straight line basis
Plant & Machinery 25% per annum reducing balance basis
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 6 April 2023 493,315 64,148 557,463
Additions - 1,850 1,850
As at 5 April 2024 493,315 65,998 559,313
Depreciation
As at 6 April 2023 235,088 58,952 294,040
Provided during the period 8,741 1,762 10,503
As at 5 April 2024 243,829 60,714 304,543
Net Book Value
As at 5 April 2024 249,486 5,284 254,770
As at 6 April 2023 258,227 5,196 263,423
Included in land and buildings is freehold land at valuation of £56,234 (2023:£56,234) which is not depreciated. Historical cost of land and buildings is £394,743.
5. Investments
Listed
£
Cost
As at 6 April 2023 138,938
Additions 131,878
Disposals (121,052 )
As at 5 April 2024 149,764
Provision
As at 6 April 2023 -
As at 5 April 2024 -
Net Book Value
As at 5 April 2024 149,764
As at 6 April 2023 138,938
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 31,471 22,689
Prepayments and accrued income 2,676 2,660
Other debtors 3,000 1,500
VAT debtor 1,625 1,194
38,772 28,043
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 943 1,908
Corporation tax 2,036 71
Accruals and deferred income 9,500 8,375
Directors' loan accounts 107 1,047
12,586 11,401
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
9. Pension Commitments
The company operates a defined contributiom pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents the contributions payable by the company to the fund and amounted to £1,275 (2023: £2,400).
10. Reserves
Revaluation Reserve
£
As at 6 April 2023 38,770
Transfer to profit and loss (1,971 )
As at 5 April 2024 36,799
11. Related Party Transactions
Duuring the year the company rented office space on an arms length basis for £10,000 p.a. (2023: £10,000) from Manor Farm Packers Limited Pension and Assurance scheme, of which Mr M J Reditt, P A Reditt, B Smith and M D Reditt are trustees.
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