Registered number
12515447
Manson Green Farm Limited
Filleted Accounts
29 February 2024
Manson Green Farm Limited
Registered number: 12515447
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 765,759 761,184
Current assets
Stocks 23,385 80,088
Debtors 4 132,805 177,093
Cash at bank and in hand 640,947 198,045
797,137 455,226
Creditors: amounts falling due within one year 5 (490,228) (380,634)
Net current assets 306,909 74,592
Total assets less current liabilities 1,072,668 835,776
Creditors: amounts falling due after more than one year 6 (132,000) (301,533)
Net assets 940,668 534,243
Capital and reserves
Called up share capital 100 100
Profit and loss account 940,568 534,143
Shareholder's funds 940,668 534,243
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Daniels
Director
Approved by the board on 28 August 2024
Manson Green Farm Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 1,062,926
Additions 168,140
Disposals (3,374)
At 29 February 2024 1,227,692
Depreciation
At 1 March 2023 301,742
Charge for the year 160,942
On disposals (751)
At 29 February 2024 461,933
Net book value
At 29 February 2024 765,759
At 28 February 2023 761,184
4 Debtors 2024 2023
£ £
Trade debtors 47,269 95,216
Other debtors 85,536 81,877
132,805 177,093
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 169,534 189,534
Trade creditors 267,707 96,106
Taxation and social security costs 50,152 -
Other creditors 2,835 94,994
490,228 380,634
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 132,000 301,533
7 Other information
Manson Green Farm Limited is a private company limited by shares and incorporated in England. Its registered office is:
Manson Green Farm
Dereham Road
Hingham
Norfolk
NR9 4PY
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