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REGISTERED NUMBER: 00687099 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

RIGSBY FARMING COMPANY LIMITED

RIGSBY FARMING COMPANY LIMITED (REGISTERED NUMBER: 00687099)

Contents of the Financial Statements
for the year ended 30 June 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


RIGSBY FARMING COMPANY LIMITED

Company Information
for the year ended 30 June 2024







Directors: Mr W B Read
Mr P A Read
Mr S M Read
Mrs B J Read





Registered office: Rigsby House
Rigsby
Alford
Lincolnshire
LN13 0AL





Registered number: 00687099 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
23 Algitha Road
Skegness
United Kingdom
PE25 2AG

RIGSBY FARMING COMPANY LIMITED (REGISTERED NUMBER: 00687099)

Statement of Financial Position
30 June 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 666,018 695,175

Current assets
Stocks 121,637 146,526
Debtors 5 18,743 94,217
Cash at bank 330,706 229,022
471,086 469,765
Creditors
Amounts falling due within one year 6 36,166 67,702
Net current assets 434,920 402,063
Total assets less current liabilities 1,100,938 1,097,238

Provisions for liabilities 69,037 69,835
Net assets 1,031,901 1,027,403

Capital and reserves
Called up share capital 479 479
Capital redemption reserve 522 522
Retained earnings 1,030,900 1,026,402
Shareholders' funds 1,031,901 1,027,403

RIGSBY FARMING COMPANY LIMITED (REGISTERED NUMBER: 00687099)

Statement of Financial Position - continued
30 June 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 10 September 2024 and were signed on its behalf by:





Mr W B Read - Director


RIGSBY FARMING COMPANY LIMITED (REGISTERED NUMBER: 00687099)

Notes to the Financial Statements
for the year ended 30 June 2024


1. Statutory information

Rigsby 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.

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.
Freehold land etc - in accordance with the property and Farm land is not depreciated
Plant and machinery - at varying rates on cost
Fixtures and fittings - 20% on cost
Tractors - 20% on cost and 10% on 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 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.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

RIGSBY FARMING COMPANY LIMITED (REGISTERED NUMBER: 00687099)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


4. Tangible fixed assets
Fixtures
Freehold Plant and and
land etc machinery fittings Tractors Totals
£ £ £ £ £
Cost
At 1 July 2023 372,118 428,752 7,530 36,230 844,630
Disposals - - - (10,430 ) (10,430 )
At 30 June 2024 372,118 428,752 7,530 25,800 834,200
Depreciation
At 1 July 2023 67,128 42,737 7,530 32,060 149,455
Charge for year 7,448 17,539 - - 24,987
Eliminated on disposal - - - (6,260 ) (6,260 )
Reclassification/transfer (5,121 ) 5,121 - - -
At 30 June 2024 69,455 65,397 7,530 25,800 168,182
Net book value
At 30 June 2024 302,663 363,355 - - 666,018
At 30 June 2023 304,990 386,015 - 4,170 695,175

5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 8,327 83,298
VAT 2,475 3,726
Prepayments 7,941 7,193
18,743 94,217

6. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 2,427 14,725
Tax 2,765 -
Other creditors 18,690 42,459
Accruals and deferred income 12,284 10,518
36,166 67,702