PINSTONES FARM INVESTMENTS LTD
Company registration number 12494228 (England and Wales)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
PINSTONES FARM INVESTMENTS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
PINSTONES FARM INVESTMENTS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
240,316
200,488
Investment property
4
2,412,311
2,728,864
Investments
5
15
15
2,652,642
2,929,367
Current assets
Stocks
1,573,565
846,083
Debtors
6
995,772
443,145
Cash at bank and in hand
6,076
5,007
2,575,413
1,294,235
Creditors: amounts falling due within one year
7
(2,996,486)
(3,063,657)
Net current liabilities
(421,073)
(1,769,422)
Total assets less current liabilities
2,231,569
1,159,945
Creditors: amounts falling due after more than one year
8
(2,089,228)
(1,448,743)
Net assets/(liabilities)
142,341
(288,798)
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
142,241
(288,898)
Total equity
142,341
(288,798)
PINSTONES FARM INVESTMENTS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -

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

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 26 September 2024
Mr J H Wrigley
Director
Company registration number 12494228 (England and Wales)
PINSTONES FARM INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Pinstones Farm Investments Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Delbury Hall, Diddlebury, Craven Arms, Shropshire, SY7 9DH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

These financial statements for the year ended 31 December 2023 are the first financial statements of Pinstones Farm Investments Ltd prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 January 2022. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Not depreciated
Plant and equipment
25% Straight line

Freehold land and assets in the course of construction are not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.3
Investment property

Investment property, which is property held to earn rentals is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Changes in fair value are recognised in profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries and associates are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

PINSTONES FARM INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.9
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
PINSTONES FARM INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
200,000
689
200,689
Additions
40,000
-
0
40,000
At 31 December 2023
240,000
689
240,689
Depreciation and impairment
At 1 January 2023
-
0
201
201
Depreciation charged in the year
-
0
172
172
At 31 December 2023
-
0
373
373
Carrying amount
At 31 December 2023
240,000
316
240,316
At 31 December 2022
200,000
488
200,488
4
Investment property
2023
£
Fair value
At 1 January 2023
2,728,864
Additions
345,859
Disposals
(1,175,000)
Revaluations
512,588
At 31 December 2023
2,412,311
5
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
15
15
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
995,772
443,145
PINSTONES FARM INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
-
0
3,547
Other creditors
2,996,486
3,060,110
2,996,486
3,063,657
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
2,089,228
1,448,743

The loans are secured by mortgages held over the properties.

9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
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