Acorah Software Products - Accounts Production 15.0.600 false true 31 August 2022 24 August 2021 false 1 September 2022 31 August 2023 31 August 2023 13582276 Mr Jules Van Vegchel iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13582276 2022-08-31 13582276 2023-08-31 13582276 2022-09-01 2023-08-31 13582276 frs-core:CurrentFinancialInstruments 2023-08-31 13582276 frs-core:Non-currentFinancialInstruments 2023-08-31 13582276 frs-core:MotorVehicles 2023-08-31 13582276 frs-core:MotorVehicles 2022-09-01 2023-08-31 13582276 frs-core:MotorVehicles 2022-08-31 13582276 frs-core:PlantMachinery 2023-08-31 13582276 frs-core:PlantMachinery 2022-09-01 2023-08-31 13582276 frs-core:PlantMachinery 2022-08-31 13582276 frs-core:ShareCapital 2023-08-31 13582276 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 13582276 frs-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 13582276 frs-bus:FilletedAccounts 2022-09-01 2023-08-31 13582276 frs-bus:SmallEntities 2022-09-01 2023-08-31 13582276 frs-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 13582276 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 13582276 frs-bus:Director1 2022-09-01 2023-08-31 13582276 frs-countries:EnglandWales 2022-09-01 2023-08-31 13582276 2021-08-23 13582276 2022-08-31 13582276 2021-08-24 2022-08-31 13582276 frs-core:CurrentFinancialInstruments 2022-08-31 13582276 frs-core:Non-currentFinancialInstruments 2022-08-31 13582276 frs-core:ShareCapital 2022-08-31 13582276 frs-core:RetainedEarningsAccumulatedLosses 2022-08-31
Registered number: 13582276
Greencroft Farms Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13582276
31 August 2023 31 August 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 95,920 129,600
95,920 129,600
CURRENT ASSETS
Stocks 5 1,061,520 1,992,764
Debtors 6 - 3,293
Cash at bank and in hand 104,998 4,679
1,166,518 2,000,736
Creditors: Amounts Falling Due Within One Year 7 (1,365,187 ) (1,204,629 )
NET CURRENT ASSETS (LIABILITIES) (198,669 ) 796,107
TOTAL ASSETS LESS CURRENT LIABILITIES (102,749 ) 925,707
Creditors: Amounts Falling Due After More Than One Year 8 - (1,030,191 )
NET LIABILITIES (102,749 ) (104,484 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (102,750 ) (104,485 )
SHAREHOLDERS' FUNDS (102,749) (104,484)
Page 1
Page 2
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Mr Jules Van Vegchel
Director
16/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Greencroft Farms Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13582276 . The registered office is Ashridge Cottage, Hallsannery, Bideford, EX39 5HE.
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:
Plant & Machinery 20% Straight Line
Motor Vehicles 25% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Representation
Although the current liabilites exceed the current assets of the company, current liabilites include a directors loan. The directors have given representation that they will support the company for the foreseable future
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 1)
2 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 September 2022 145,000 17,000 162,000
Additions 13,050 - 13,050
Disposals (22,000 ) - (22,000 )
As at 31 August 2023 136,050 17,000 153,050
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 September 2022 29,000 3,400 32,400
Provided during the period 26,810 2,720 29,530
Disposals (4,800 ) - (4,800 )
As at 31 August 2023 51,010 6,120 57,130
Net Book Value
As at 31 August 2023 85,040 10,880 95,920
As at 1 September 2022 116,000 13,600 129,600
5. Stocks
31 August 2023 31 August 2022
£ £
Stock 40,000 160,000
Work in progress 1,021,520 1,832,764
1,061,520 1,992,764
6. Debtors
31 August 2023 31 August 2022
£ £
Due within one year
VAT - 3,293
7. Creditors: Amounts Falling Due Within One Year
31 August 2023 31 August 2022
£ £
Bank loans and overdrafts 383,564 -
Other taxes and social security 4,198 1,341
VAT 152 -
Director's loan account 977,273 1,203,288
1,365,187 1,204,629
8. Creditors: Amounts Falling Due After More Than One Year
31 August 2023 31 August 2022
£ £
Bank loans - 1,030,191
9. Share Capital
31 August 2023 31 August 2022
£ £
Allotted, Called up and fully paid 1 1
Page 4