REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2023 |
for |
A & A Arable Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2023 |
for |
A & A Arable Limited |
A & A Arable Limited (Registered number: 07095455) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
A & A Arable Limited |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Newland House |
The Point |
Weaver Road |
LINCOLN |
Lincolnshire |
LN6 3QN |
A & A Arable Limited (Registered number: 07095455) |
Abridged Balance Sheet |
31 December 2023 |
31/12/23 | 31/12/22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
A & A Arable Limited (Registered number: 07095455) |
Abridged Balance Sheet - continued |
31 December 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
A & A Arable Limited (Registered number: 07095455) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
A & A Arable Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Land and buildings | - |
Plant and machinery - 15% on reducing balance |
Fixtures and fittings - 15% on reducing balance |
Financial instruments |
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows: |
Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. |
Cash at bank is classified as a basic financial instrument and is measured at transaction price. |
Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest. |
Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument. |
A & A Arable Limited (Registered number: 07095455) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
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. |
Investment income |
Investment income on funds held is included when interest and dividends are receivable and the amount can be measured reliably by the company this is normally upon notification of the income paid or payable. |
Investment assets |
Investments are stated at market value at the balance sheet date. The profit and loss account includes the net gains and losses arising on revaluations and disposals throughout the year. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
A & A Arable Limited (Registered number: 07095455) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST OR VALUATION |
At 1 January 2023 | 271,628 |
Additions | 60,587 |
Disposals | (58,131 | ) |
Revaluations | 13,797 |
At 31 December 2023 | 287,881 |
NET BOOK VALUE |
At 31 December 2023 | 287,881 |
At 31 December 2022 | 271,628 |
Cost or valuation at 31 December 2023 is represented by: |
Totals |
£ |
Valuation in 2023 | 287,881 |
6. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/12/23 | 31/12/22 |
£ | £ |
Other debtors |
A & A Arable Limited (Registered number: 07095455) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
7. | CALLED UP SHARE CAPITAL |
Allotted and issued: |
Number: | Class: | Nominal | 31/12/23 | 31/12/22 |
value: | £ | £ |
Share capital 1 | £1 | 100 | 100 |
8. | RELATED PARTY DISCLOSURES |
Other debtors falling due after more than one year includes a £405,000 loan to H C Grimes & Sons Limited a company in which Mr A J and Mrs A M Wells are directors and Mrs A M Wells has a controlling interest. Interest charged on this unsecured loan during the period amounted to £1,050 (2022:£1,050). |