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REGISTERED NUMBER: 00529469 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

HARRY FERGUSON FARMS LIMITED

HARRY FERGUSON FARMS LIMITED (REGISTERED NUMBER: 00529469)

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


HARRY FERGUSON FARMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: T J R Sheldon
Mrs S J Sheldon
C J R Sheldon





SECRETARY: Mrs S J Sheldon





REGISTERED OFFICE: Kings Manor Farm
Copse Lane
Freshwater
Isle of Wight
PO40 9TL





REGISTERED NUMBER: 00529469 (England and Wales)





ACCOUNTANTS: Martin and Company
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

HARRY FERGUSON FARMS LIMITED (REGISTERED NUMBER: 00529469)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,723,890 1,763,354
Investments 5 1 1
1,723,891 1,763,355

CURRENT ASSETS
Stocks 210,162 315,736
Debtors 6 1,091,335 775,122
Cash at bank and in hand 400 4,161
1,301,897 1,095,019
CREDITORS
Amounts falling due within one year 7 3,172,179 2,707,347
NET CURRENT LIABILITIES (1,870,282 ) (1,612,328 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(146,391

)

151,027

CREDITORS
Amounts falling due after more than one
year

8

1,306,252

1,306,252
NET LIABILITIES (1,452,643 ) (1,155,225 )

CAPITAL AND RESERVES
Called up share capital 102 102
Other reserves 110,867 110,867
Retained earnings (1,563,612 ) (1,266,194 )
SHAREHOLDERS' FUNDS (1,452,643 ) (1,155,225 )

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.

HARRY FERGUSON FARMS LIMITED (REGISTERED NUMBER: 00529469)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24th September 2024 and were signed on its behalf by:





Mrs S J Sheldon - Director


HARRY FERGUSON FARMS LIMITED (REGISTERED NUMBER: 00529469)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

Harry Ferguson 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.

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 - 2% on cost and not provided
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 10% on reducing balance

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 Statement of Income and Retained Earnings, 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.

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.

HARRY FERGUSON FARMS LIMITED (REGISTERED NUMBER: 00529469)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. ACCOUNTING POLICIES - continued

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 12 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st January 2023 2,299,391 694,969 2,994,360
Additions 48,549 2,900 51,449
Disposals - (70,000 ) (70,000 )
At 31st December 2023 2,347,940 627,869 2,975,809
DEPRECIATION
At 1st January 2023 692,834 538,172 1,231,006
Charge for year 16,825 18,088 34,913
Eliminated on disposal - (14,000 ) (14,000 )
At 31st December 2023 709,659 542,260 1,251,919
NET BOOK VALUE
At 31st December 2023 1,638,281 85,609 1,723,890
At 31st December 2022 1,606,557 156,797 1,763,354

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st January 2023
and 31st December 2023 1
NET BOOK VALUE
At 31st December 2023 1
At 31st December 2022 1

HARRY FERGUSON FARMS LIMITED (REGISTERED NUMBER: 00529469)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 49,062 45,239
Other debtors 1,042,273 729,883
1,091,335 775,122

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,850 -
Trade creditors 45,070 42,044
Taxation and social security 23,333 18,322
Other creditors 3,099,926 2,646,981
3,172,179 2,707,347

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 1,306,252 1,306,252