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Registration number: 04459357

Farmpower International Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Farmpower International Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Farmpower International Ltd

Company Information

Director

Mr V E Edwards

Company secretary

Mrs N A Jones

Registered office

New House Farm
Shoothill
Ford
Shrewsbury
Shropshire
SY5 9NR

Accountants

CBSL Accountants Limited
Chartered Accountants
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

 

Farmpower International Ltd

(Registration number: 04459357)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

367,855

367,855

Creditors: Amounts falling due within one year

5

(16,433)

(16,433)

Net assets

 

351,422

351,422

Capital and reserves

 

Called up share capital

6

350,002

350,002

Retained earnings

1,420

1,420

Shareholders' funds

 

351,422

351,422

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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 director acknowledges his 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 May 2024
 


Mr V E Edwards
Director

 

Farmpower International Ltd

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

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:
New House Farm
Shoothill
Ford
Shrewsbury
Shropshire
SY5 9NR

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Farmpower International Ltd

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

4

Investments

2023
£

2022
£

Investments in subsidiaries

367,855

367,855

Subsidiaries

£

Cost or valuation

At 1 January 2023

367,855

At 31 December 2023

367,855

Carrying amount

At 31 December 2023

367,855

At 31 December 2022

367,855

 

Farmpower International Ltd

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

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Gwaza Limited

New House Farm, Shoothill, Ford, Shrewsbury

England and Wales

Ordinary

90%

90%

Depot2U GmbH

Carl-Benz Strasse 22
Renchen 77871

Germany

Ordinary

100%

100%

Eireagri Limited

Ardera
Waterford
Kilkenny X91 K882

Ireland

Ordinary

100%

100%

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

7

16,433

16,433

 

Farmpower International Ltd

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

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £0.01 each

35,000,000

350,000

35,000,000

350,000

Ordinary B of £0.01 each

100

1

100

1

Ordinary C of £0.01 each

100

1

100

1

 

35,000,200

350,002

35,000,200

350,002

7

Related party transactions

Summary of transactions with all subsidiaries

At 31 December 2023 there was a balance of £16,433 (2022 - £16,433) due to the subsidiary undertakings, which is included in creditors due within one year.
 

8

Parent and ultimate parent undertaking

The ultimate controlling party is V E Edwards.