Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-30No description of principal activity42022-10-01false4truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03742308 2022-10-01 2023-09-30 03742308 2021-10-01 2022-09-30 03742308 2023-09-30 03742308 2022-09-30 03742308 c:Director2 2022-10-01 2023-09-30 03742308 d:Buildings 2022-10-01 2023-09-30 03742308 d:Buildings 2023-09-30 03742308 d:Buildings 2022-09-30 03742308 d:Buildings d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 03742308 d:PlantMachinery 2022-10-01 2023-09-30 03742308 d:CurrentFinancialInstruments 2023-09-30 03742308 d:CurrentFinancialInstruments 2022-09-30 03742308 d:Non-currentFinancialInstruments 2023-09-30 03742308 d:Non-currentFinancialInstruments 2022-09-30 03742308 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 03742308 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 03742308 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 03742308 d:Non-currentFinancialInstruments d:AfterOneYear 2022-09-30 03742308 d:ShareCapital 2023-09-30 03742308 d:ShareCapital 2022-09-30 03742308 d:RetainedEarningsAccumulatedLosses 2023-09-30 03742308 d:RetainedEarningsAccumulatedLosses 2022-09-30 03742308 c:FRS102 2022-10-01 2023-09-30 03742308 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 03742308 c:FullAccounts 2022-10-01 2023-09-30 03742308 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 03742308 e:PoundSterling 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure
Company registration number: 03742308







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2023


FARMER GILES FARMSTEAD LIMITED






































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FARMER GILES FARMSTEAD LIMITED
REGISTERED NUMBER:03742308



STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
264,434
292,018

  
264,434
292,018

Current assets
  

Stocks
  
20,000
20,000

Debtors: amounts falling due within one year
 5 
5,936
5,827

Bank and cash balances
  
925
1,849

  
26,861
27,676

Creditors: amounts falling due within one year
 6 
(8,799)
(2,841)

Net current assets
  
 
 
18,062
 
 
24,835

Total assets less current liabilities
  
282,496
316,853

Creditors: amounts falling due after more than one year
 7 
(752,939)
(652,844)

  

Net liabilities
  
(470,443)
(335,991)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(470,543)
(336,091)

  
(470,443)
(335,991)


Page 1

 


FARMER GILES FARMSTEAD LIMITED
REGISTERED NUMBER:03742308


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 August 2024.




................................................
A N Deane
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


FARMER GILES FARMSTEAD LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Farmer Giles Farmstead Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
The presentation currency of the financial statements is the Pound Sterling (£).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have undertaken to continue their financial support of the company for the forseeable future. On this basis they believe it is appropriate to prepare these accounts on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 


FARMER GILES FARMSTEAD LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, and is provided on the following basis:.


Land and buildings
-
not depreciated
Plant and machinery etc
-
33% on cost and 25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Financial instruments

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 4

 


FARMER GILES FARMSTEAD LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4.


Tangible fixed assets





Property, plant and equipment

£



Cost or valuation


At 1 October 2022
472,132



At 30 September 2023

472,132



Depreciation


At 1 October 2022
180,114


Charge for the year on owned assets
27,584



At 30 September 2023

207,698



Net book value



At 30 September 2023
264,434



At 30 September 2022
292,018


5.


Debtors

As restated
2023
2022
£
£


Trade debtors
55
1,842

Other debtors
4,976
2,305

Prepayments and accrued income
905
1,680

5,936
5,827


Page 5

 


FARMER GILES FARMSTEAD LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6.


Creditors: Amounts falling due within one year

As restated
2023
2022
£
£

Trade creditors
6,293
784

Other taxation and social security
496
-

Other creditors
1,010
1,057

Accruals and deferred income
1,000
1,000

8,799
2,841



7.


Creditors: Amounts falling due after more than one year

As restated
2023
2022
£
£

Amounts owed to associates
259,208
83,832

Other creditors
493,731
569,012

752,939
652,844



8.


Prior year adjustment

In the prior financial period, fixed assets were overstated in relation to a motor vehicle that belonged to the directors of the company. This misstated capitalisation, the associated VAT and depreciation entries have been reversed to the below noted amount payable to the directors.


9.


Related party transactions

At the balance sheet date the company owed £493,731 (2022: £569,012) to the directors. The balance can be found within creditors due after more than one year. No interest is being charged on these loans.
At the balance sheet date, the company owed £259,208 (2022: £83,832) to related parties. The balance can be found within creditors due after more than one year. No interest is being charged on these loans.

 
Page 6