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REGISTERED NUMBER: 09044981 (England and Wales)















D&B FARMING COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023






D&B FARMING COMPANY LIMITED (REGISTERED NUMBER: 09044981)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


D&B FARMING COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: W F Dean
S E W Burton
J R Burton



REGISTERED OFFICE: 3 Castlegate
Grantham
Lincolnshire
NG31 6SF



REGISTERED NUMBER: 09044981 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF



BANKERS: HSBC Bank Plc
221 High Street
Lincoln
Lincolnshire
LN1 1TS

D&B FARMING COMPANY LIMITED (REGISTERED NUMBER: 09044981)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 170,149 863,394

CURRENT ASSETS
Stocks - 64,171
Debtors 5 178,957 265,855
178,957 330,026
CREDITORS
Amounts falling due within one year 6 327,091 694,465
NET CURRENT LIABILITIES (148,134 ) (364,439 )
TOTAL ASSETS LESS CURRENT LIABILITIES 22,015 498,955

CREDITORS
Amounts falling due after more than one year 7 198,055 684,391
NET LIABILITIES (176,040 ) (185,436 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (176,140 ) (185,536 )
SHAREHOLDERS' FUNDS (176,040 ) (185,436 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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 30 August 2024 and were signed on its behalf by:





W F Dean - Director


D&B FARMING COMPANY LIMITED (REGISTERED NUMBER: 09044981)

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

1. STATUTORY INFORMATION

D&B Farming Company 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.

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 for contracting services and sales of produce, excluding value added tax. Contracting revenue is recognised in the period in which the services are provided and sales of produce are recognised upon despatch.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance and 15% on reducing balance

Tangible fixed assets are held at cost less accumulated depreciation.

Stocks
Stocks are stated at the lower of cost and fair value less cost to sell, after making due allowance for slow moving and obsolete items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all 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 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

D&B FARMING COMPANY LIMITED (REGISTERED NUMBER: 09044981)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 1,306,069
Additions 170,000
Disposals (1,038,350 )
At 30 September 2023 437,719
DEPRECIATION
At 1 October 2022 442,675
Charge for year 31,939
Eliminated on disposal (207,044 )
At 30 September 2023 267,570
NET BOOK VALUE
At 30 September 2023 170,149
At 30 September 2022 863,394

In view of the high market prices for second hand machinery, the directors reassessed the residual values of the plant and machinery at 31 March 2021, based on third party valuations carried out on 17 August 2021. The depreciation charge for the year ended 31 March 2021 was reduced by £174,879 as a result. No further revisions were considered necessary at 31 March 2023.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 173,856 259,900
Other debtors 5,101 5,101
Prepayments - 854
178,957 265,855

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 279,840 376,506
Hire purchase contracts 19,763 127,313
Trade creditors 1,313 154,000
Other taxes and social security 23,175 21,965
Accrued expenses 3,000 14,681
327,091 694,465

D&B FARMING COMPANY LIMITED (REGISTERED NUMBER: 09044981)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 28,271
Hire purchase contracts 14,385 346,965
Other creditors 183,670 309,155
198,055 684,391

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 34,148 474,278

Hire purchase contracts are secured on the asset to which they relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. GOING CONCERN

At the balance sheet date the company had net liabilities of £176,040. The accounts have been prepared on a going concern basis based on the continued support of the company's directors.