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REGISTERED NUMBER: 04692594 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

NORTHWOOD FARMS LIMITED

NORTHWOOD FARMS LIMITED (REGISTERED NUMBER: 04692594)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


NORTHWOOD FARMS LIMITED (REGISTERED NUMBER: 04692594)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,015,363 1,088,244
Investments 6 82,872 82,872
1,098,235 1,171,116

CURRENT ASSETS
Debtors 7 8,070 50,942
Cash at bank 1,601,897 1,435,184
1,609,967 1,486,126
CREDITORS
Amounts falling due within one year 8 15,833 3,167
NET CURRENT ASSETS 1,594,134 1,482,959
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,692,369

2,654,075

CREDITORS
Amounts falling due after more than
one year

9

(861,503

)

(1,004,417

)

PROVISIONS FOR LIABILITIES (169,355 ) (187,576 )
NET ASSETS 1,661,511 1,462,082

NORTHWOOD FARMS LIMITED (REGISTERED NUMBER: 04692594)

BALANCE SHEET - continued
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 1,661,509 1,462,080
SHAREHOLDERS' FUNDS 1,661,511 1,462,082

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by:




R Venables - Director



Mrs J Venables - Director


NORTHWOOD FARMS LIMITED (REGISTERED NUMBER: 04692594)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Northwood Farms Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04692594

Registered office: Northwood Farm
Siddington
Macclesfield
Cheshire
SK11 9ND

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


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.

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

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Milk quota are being amortised evenly over their estimated useful life of four years.

Entitlements are being amortised evenly over their estimated useful life of four years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Buildings - not provided
Plant and machinery - 10% on reducing balance and 5% on reducing balance
Motor vehicles - 25% on reducing balance

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

NORTHWOOD FARMS LIMITED (REGISTERED NUMBER: 04692594)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statement when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors , bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


NORTHWOOD FARMS LIMITED (REGISTERED NUMBER: 04692594)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Milk
quota Entitlements Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 389,581 42,826 432,407
AMORTISATION
At 1 April 2023
and 31 March 2024 389,581 42,826 432,407
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 - - -

NORTHWOOD FARMS LIMITED (REGISTERED NUMBER: 04692594)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Plant and Motor
Buildings machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 337,942 1,075,450 63,313 1,476,705
DEPRECIATION
At 1 April 2023 - 372,633 15,828 388,461
Charge for year - 61,010 11,871 72,881
At 31 March 2024 - 433,643 27,699 461,342
NET BOOK VALUE
At 31 March 2024 337,942 641,807 35,614 1,015,363
At 31 March 2023 337,942 702,817 47,485 1,088,244

6. FIXED ASSET INVESTMENTS

31.3.24 31.3.23
£    £   
Shares in group undertakings 200 200
Loans to group undertakings 82,672 82,672
82,872 82,872

Additional information is as follows:
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 200
NET BOOK VALUE
At 31 March 2024 200
At 31 March 2023 200
Loans to
group
undertakings
£   
At 1 April 2023
and 31 March 2024 82,672

NORTHWOOD FARMS LIMITED (REGISTERED NUMBER: 04692594)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 2,582 43,448
Other debtors 5,488 7,494
8,070 50,942

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 15,833 3,167

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed to group undertakings 768,141 841,055
Other creditors 93,362 163,362
861,503 1,004,417

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary £1 2 2