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REGISTERED NUMBER: SC521798 (Scotland)










UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 DECEMBER 2021 TO 31 DECEMBER 2022

FOR

FARM ORIGINALS LIMITED

FARM ORIGINALS LIMITED (REGISTERED NUMBER: SC521798)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Period 1 DECEMBER 2021 TO 31 DECEMBER 2022




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


FARM ORIGINALS LIMITED (REGISTERED NUMBER: SC521798)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 802 1,003
Investments 5 3,717,121 1,600,390
Investment property 6 4,407,671 3,299,920
8,125,594 4,901,313

CURRENT ASSETS
Debtors 7 4,067,592 3,292,264
Cash at bank and in hand 146,526 958,483
4,214,118 4,250,747
CREDITORS
Amounts falling due within one year 8 311,248 185,780
NET CURRENT ASSETS 3,902,870 4,064,967
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,028,464

8,966,280

CREDITORS
Amounts falling due after more than one
year

9

8,499,555

4,842,005
NET ASSETS 3,528,909 4,124,275

CAPITAL AND RESERVES
Called up share capital 4,815,191 4,815,191
Retained earnings (1,286,282 ) (690,916 )
3,528,909 4,124,275

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 28 May 2024 and were signed by:



Miss A Lopatinsky - Director


FARM ORIGINALS LIMITED (REGISTERED NUMBER: SC521798)

NOTES TO THE FINANCIAL STATEMENTS
For The Period 1 DECEMBER 2021 TO 31 DECEMBER 2022

1. STATUTORY INFORMATION

Farm Originals Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC521798

Registered office: 1 Kings Avenue
London
N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 unless otherwise stated in these accounting policies.

The accounts have been prepared for a period of 12 months whereas the comparatives are for a period of 13 months.

Preparation of consolidated financial statements
The financial statements contain information about Farm Originals Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are significant judgements and estimates involved in the preparation of the financial statements.

Property plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Fixtures and fittings - 20% on reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

FARM ORIGINALS LIMITED (REGISTERED NUMBER: SC521798)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 DECEMBER 2021 TO 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued

Investment properties
Investment properties, which are properties held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.


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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2021 - 3 ) .

FARM ORIGINALS LIMITED (REGISTERED NUMBER: SC521798)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 DECEMBER 2021 TO 31 DECEMBER 2022

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£   
COST
At 1 December 2021
and 31 December 2022 1,003
DEPRECIATION
Charge for period 201
At 31 December 2022 201
NET BOOK VALUE
At 31 December 2022 802
At 30 November 2021 1,003

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 December 2021 1,600,390
Additions 2,116,731
At 31 December 2022 3,717,121
NET BOOK VALUE
At 31 December 2022 3,717,121
At 30 November 2021 1,600,390

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2021 3,299,920
Additions 1,107,751
At 31 December 2022 4,407,671
NET BOOK VALUE
At 31 December 2022 4,407,671
At 30 November 2021 3,299,920

The investment properties were valued on an open market basis on 31 December 2022 by the director of the company.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed by group undertakings 2,618,794 1,617,541
Other debtors 1,448,798 1,674,723
4,067,592 3,292,264

FARM ORIGINALS LIMITED (REGISTERED NUMBER: SC521798)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 DECEMBER 2021 TO 31 DECEMBER 2022

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 4,310 159,009
Amounts owed to group undertakings 290,916 -
Taxation and social security 3,165 5,768
Other creditors 12,857 21,003
311,248 185,780

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Other creditors 8,499,555 4,842,005

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in other debtors are amounts of £950,000 (2021: £1,614,230) due from companies under common ownership. These loans are provided interest free and repayable on demand.

Included in other creditors more than one year are amounts of £902,781 (2021: Nil) due to companies with common control. These loans are provided interest free and repayable on demand.