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REGISTERED NUMBER: 03021311 (England and Wales)















Southend Farms Limited

Financial Statements for the Year Ended 31st December 2023






Southend Farms Limited (Registered number: 03021311)

Contents of the Financial Statements
for the Year Ended 31st December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

Southend Farms Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: W Fleming
Mrs M C Fleming





SECRETARY: Mrs M C Fleming





REGISTERED OFFICE: Southend Farm
Donnington
Chichester
West Sussex
PO20 7PS





REGISTERED NUMBER: 03021311 (England and Wales)





ACCOUNTANTS: Sheen Stickland
Chartered Accountants
7 East Pallant
Chichester
West Sussex
PO19 1TR

Southend Farms Limited (Registered number: 03021311)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,308,724 1,318,061
Investments 6 100 200
1,308,824 1,318,261

CURRENT ASSETS
Stocks 665 3,670
Debtors 7 218,475 448,204
Cash at bank and in hand 72,596 63,040
291,736 514,914
CREDITORS
Amounts falling due within one year 8 675,433 945,681
NET CURRENT LIABILITIES (383,697 ) (430,767 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

925,127

887,494

CREDITORS
Amounts falling due after more than one
year

9

22,119

44,157
NET ASSETS 903,008 843,337

CAPITAL AND RESERVES
Called up share capital 10 140 140
Retained earnings 11 902,868 843,197
SHAREHOLDERS' FUNDS 903,008 843,337

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

Southend Farms Limited (Registered number: 03021311)

Balance Sheet - continued
31st December 2023


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 9th May 2024 and were signed on its behalf by:




Mrs M C Fleming - Director



W Fleming - Director


Southend Farms Limited (Registered number: 03021311)

Notes to the Financial Statements
for the Year Ended 31st December 2023


1. STATUTORY INFORMATION

Southend Farms 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 or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 1996, has been amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - not provided
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Events fixed assets - 25% on reducing balance
Computer equipment - 25% on reducing balance

Improvements to property - not subject to depreciation

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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving 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 balance sheet date.


Southend Farms Limited (Registered number: 03021311)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


2. ACCOUNTING POLICIES - continued
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.

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 7 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 300,000
AMORTISATION
At 1st January 2023
and 31st December 2023 300,000
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 -

Southend Farms Limited (Registered number: 03021311)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1st January 2023 1,118,942 114,652 39,501
Additions - 679 10,644
At 31st December 2023 1,118,942 115,331 50,145
DEPRECIATION
At 1st January 2023 - 71,973 5,157
Charge for year - 10,840 6,169
At 31st December 2023 - 82,813 11,326
NET BOOK VALUE
At 31st December 2023 1,118,942 32,518 38,819
At 31st December 2022 1,118,942 42,679 34,344

Events
fixed Computer
assets equipment Totals
£    £    £   
COST
At 1st January 2023 194,096 24,068 1,491,259
Additions 5,102 460 16,885
At 31st December 2023 199,198 24,528 1,508,144
DEPRECIATION
At 1st January 2023 77,671 18,397 173,198
Charge for year 7,680 1,533 26,222
At 31st December 2023 85,351 19,930 199,420
NET BOOK VALUE
At 31st December 2023 113,847 4,598 1,308,724
At 31st December 2022 116,425 5,671 1,318,061

Southend Farms Limited (Registered number: 03021311)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st January 2023 200
Disposals (100 )
At 31st December 2023 100
NET BOOK VALUE
At 31st December 2023 100
At 31st December 2022 200

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 12,725 36,547
Amounts owed by group undertakings 205,540 402,440
Other debtors 210 210
Prepayments and accrued income - 9,007
218,475 448,204

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 12,039 12,039
Trade creditors 33,236 49,657
Amounts owed to group undertakings 76,337 296,062
Tax 18,408 13,071
Social security and other taxes 5,578 18,121
VAT 2,313 9,731
Other creditors 2,896 8,229
Accruals and deferred income 514,626 528,771
675,433 945,681

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 5,834 15,833
Hire purchase contracts 6,285 18,324
22,119 44,157

Southend Farms Limited (Registered number: 03021311)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 A Ordinary £1 100 100
40 B Ordinary £1 40 40
140 140

11. RESERVES
Retained
earnings
£   

At 1st January 2023 843,197
Profit for the year 59,671
At 31st December 2023 902,868

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Southend Farms Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Southend Farms Limited for the year ended 31st December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Southend Farms Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Southend Farms Limited and state those matters that we have agreed to state to the Board of Directors of Southend Farms Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Southend Farms Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Southend Farms Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Southend Farms Limited. You consider that Southend Farms Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Southend Farms Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sheen Stickland
Chartered Accountants
7 East Pallant
Chichester
West Sussex
PO19 1TR


9th May 2024