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REGISTERED NUMBER: 14843350 (England and Wales)















REN FARMING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

3 MAY 2023 TO 31 MARCH 2024






REN FARMING LIMITED (REGISTERED NUMBER: 14843350)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 3 MAY 2023 TO 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6

Accountants' Report 7

REN FARMING LIMITED

COMPANY INFORMATION
FOR THE PERIOD 3 MAY 2023 TO 31 MARCH 2024







DIRECTORS: R E Needham
Mrs J Needham
B R Needham





SECRETARY: Mrs J Needham





REGISTERED OFFICE: 18 Northgate
Sleaford
Lincolnshire
NG34 7BJ





BUSINESS ADDRESS: Home Farmhouse
Little Hale Fen
Sleaford
Lincolnshire
NG34 9BG





REGISTERED NUMBER: 14843350 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ

REN FARMING LIMITED (REGISTERED NUMBER: 14843350)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 1,846,550
Investment property 5 120,000
1,966,550

CURRENT ASSETS
Valuation 221,041
Debtors 6 90,993
Investments 7 976
Cash at bank 118,497
431,507
CREDITORS
Amounts falling due within one year 8 369,279
NET CURRENT ASSETS 62,228
TOTAL ASSETS LESS CURRENT LIABILITIES 2,028,778

CREDITORS
Amounts falling due after more than one year 9 (97,730 )

PROVISIONS FOR LIABILITIES (44,424 )
NET ASSETS 1,886,624

CAPITAL AND RESERVES
Called up share capital 11 1,800,100
Retained earnings 86,524
SHAREHOLDERS' FUNDS 1,886,624

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

REN FARMING LIMITED (REGISTERED NUMBER: 14843350)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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 11 September 2024 and were signed on its behalf by:




R E Needham - Director



Mrs J Needham - Director


REN FARMING LIMITED (REGISTERED NUMBER: 14843350)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 3 MAY 2023 TO 31 MARCH 2024

1. STATUTORY INFORMATION

Ren Farming 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

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on reducing balance and not provided
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
A professional valuation is carried out each year by an independent agricultural valuer. The valuation is prepared at the lower of cost and fair value less costs to complete and sell after making due allowance for slow moving items. Costs include any cost of production incurred to bring the stock to its state at the balance sheet date.

Taxation
Taxation for the period 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 period 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.

REN FARMING LIMITED (REGISTERED NUMBER: 14843350)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 3 MAY 2023 TO 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Basic farm payment
The basic farm payment is recognised in the financial statements in accordance with current H M Revenue and Customs guidance.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
Additions 1,662,297 199,900 1,862,197
At 31 March 2024 1,662,297 199,900 1,862,197
DEPRECIATION
Charge for period 617 15,030 15,647
At 31 March 2024 617 15,030 15,647
NET BOOK VALUE
At 31 March 2024 1,661,680 184,870 1,846,550

Included in cost of land and buildings is freehold land of £ 1,649,960 which is not depreciated.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 120,000
At 31 March 2024 120,000
NET BOOK VALUE
At 31 March 2024 120,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 48,040
Other debtors 42,953
90,993

7. CURRENT ASSET INVESTMENTS
£   
Unlisted investments 976

REN FARMING LIMITED (REGISTERED NUMBER: 14843350)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 3 MAY 2023 TO 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Bank loans and overdrafts 16,200
Trade creditors 12,867
Taxation and social security 50,329
Other creditors 289,883
369,279

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
£   
Bank loans 97,730

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 80,930

10. SECURED DEBTS

The following secured debts are included within creditors:

£   
Bank loans 113,930

The bank loans are secured on the company's freehold land.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
100 "A" Ordinary shares £1 100
1,800,000 Redeemable preference shares £1 1,800,000
1,800,100

The following shares were allotted and fully paid for cash at par during the period:

100 "A" Ordinary shares shares of £1 each
1,800,000 Redeemable preference shares shares of £1 each

12. RELATED PARTY DISCLOSURES

At the year end date the company owed the directors £281,718. This amount is unsecured, interest free and repayable on demand.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
REN FARMING 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 Statement of Financial Position. 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 Ren Farming Limited for the period ended 31 March 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Ren Farming 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 Ren Farming Limited and state those matters that we have agreed to state to the Board of Directors of Ren Farming Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ren Farming 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 Ren Farming Limited. You consider that Ren Farming Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Ren Farming 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.






Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ


Date: .............................................