Malleson Farming Limited 09259213 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is contract farming. Digita Accounts Production Advanced 6.30.9574.0 true 09259213 2023-04-01 2024-03-31 09259213 2024-03-31 09259213 core:RetainedEarningsAccumulatedLosses 2024-03-31 09259213 core:ShareCapital 2024-03-31 09259213 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-03-31 09259213 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09259213 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 09259213 bus:SmallEntities 2023-04-01 2024-03-31 09259213 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09259213 bus:FullAccounts 2023-04-01 2024-03-31 09259213 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09259213 bus:RegisteredOffice 2023-04-01 2024-03-31 09259213 bus:Director1 2023-04-01 2024-03-31 09259213 bus:Director3 2023-04-01 2024-03-31 09259213 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09259213 core:LandBuildings 2023-04-01 2024-03-31 09259213 core:MotorVehicles 2023-04-01 2024-03-31 09259213 core:PlantMachinery 2023-04-01 2024-03-31 09259213 countries:EnglandWales 2023-04-01 2024-03-31 09259213 2023-03-31 09259213 2022-04-01 2023-03-31 09259213 2023-03-31 09259213 core:RetainedEarningsAccumulatedLosses 2023-03-31 09259213 core:ShareCapital 2023-03-31 09259213 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2023-03-31 09259213 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09259213 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 09259213

Malleson Farming Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

Malleson Farming Limited

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 4

 

Malleson Farming Limited

(Registration number: 09259213)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

92,834

94,367

Other financial assets

5

338,809

320,816

 

431,643

415,183

Current assets

 

Stocks

57,600

46,190

Debtors

20,666

88,335

Cash at bank and in hand

 

48,053

-

 

126,319

134,525

Creditors: Amounts falling due within one year

6

(309,245)

(178,610)

Net current liabilities

 

(182,926)

(44,085)

Total assets less current liabilities

 

248,717

371,098

Creditors: Amounts falling due after more than one year

(207,058)

(253,170)

Provisions for liabilities

(8,106)

(17,249)

Net assets

 

33,553

100,679

Capital and reserves

 

Called up share capital

150

150

Profit and loss account

33,403

100,529

Total equity

 

33,553

100,679

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 6 September 2024 and signed on its behalf by:
 

Mr T S Malleson
Director

Mrs E Malleson
Director

 
     
 

Malleson Farming Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Dunns Lane Cottage
Silton
Gillingham
Dorset
SP8 5PP

These financial statements were authorised for issue by the Board on 6 September 2024.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue whenthe amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.


Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Malleson Farming Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

5% straight line

Plant and machinery

20% reducing balance

Motor vehicles

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Biological assets

Biological assets, living plants and animals are included at the lower of cost and estimated selling price less costs to sell.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 7).

 

Malleson Farming Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Total
£

Cost or valuation

At 1 April 2023

149,501

Additions

21,212

At 31 March 2024

170,713

Depreciation

At 1 April 2023

55,134

Charge for the year

22,745

At 31 March 2024

77,879

Carrying amount

At 31 March 2024

92,834

At 31 March 2023

94,367

5

Other financial assets (current and non-current)

2024
£

2023
£

Non-current financial assets

Financial assets at cost less impairment

338,809

320,816

6

Creditors: amounts falling due within one year

Creditors include overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £11,747 (2023 - £29,477).