4 false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 11694285 2023-01-01 2023-12-31 11694285 2023-12-31 11694285 2022-12-31 11694285 2022-01-01 2022-12-31 11694285 2022-12-31 11694285 core:PlantMachinery 2023-01-01 2023-12-31 11694285 core:MotorVehicles 2023-01-01 2023-12-31 11694285 bus:Director1 2023-01-01 2023-12-31 11694285 bus:Director2 2023-01-01 2023-12-31 11694285 core:PlantMachinery 2022-12-31 11694285 core:MotorVehicles 2022-12-31 11694285 core:PlantMachinery 2023-12-31 11694285 core:MotorVehicles 2023-12-31 11694285 core:WithinOneYear 2023-12-31 11694285 core:WithinOneYear 2022-12-31 11694285 core:ShareCapital 2023-12-31 11694285 core:ShareCapital 2022-12-31 11694285 core:RetainedEarningsAccumulatedLosses 2023-12-31 11694285 core:RetainedEarningsAccumulatedLosses 2022-12-31 11694285 core:PlantMachinery 2022-12-31 11694285 core:MotorVehicles 2022-12-31 11694285 bus:SmallEntities 2023-01-01 2023-12-31 11694285 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11694285 bus:FullAccounts 2023-01-01 2023-12-31 11694285 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11694285 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 11694285
Desninghall Farms Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2023
Desninghall Farms Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
551,023
722,351
Current assets
Stocks
19,400
53,940
Debtors
6
1,563,672
1,660,214
Cash at bank and in hand
1,634,035
845,172
------------
------------
3,217,107
2,559,326
Creditors: amounts falling due within one year
7
1,321,379
1,185,567
------------
------------
Net current assets
1,895,728
1,373,759
------------
------------
Total assets less current liabilities
2,446,751
2,096,110
Provisions
137,756
182,308
------------
------------
Net assets
2,308,995
1,913,802
------------
------------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
2,307,995
1,912,802
------------
------------
Shareholders funds
2,308,995
1,913,802
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Desninghall Farms Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 12 September 2024 , and are signed on behalf of the board by:
Mr M P Lake
Mr J Philipps
Director
Director
Company registration number: 11694285
Desninghall Farms Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is French Hall, Moulton, Newmarket, Suffolk, CB8 8RZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a basis other than the going concern basis as following the completion of the 2024 harvest the company will cease trading as a farming contractor. No further adjustments are required in the financial statements as a result of the change in basis of preparation.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for farming contractor services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is based on purchase price.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 6 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 January 2023
1,135,933
27,500
1,163,433
Additions
9,609
9,609
------------
--------
------------
At 31 December 2023
1,145,542
27,500
1,173,042
------------
--------
------------
Depreciation
At 1 January 2023
434,910
6,172
441,082
Charge for the year
175,604
5,333
180,937
------------
--------
------------
At 31 December 2023
610,514
11,505
622,019
------------
--------
------------
Carrying amount
At 31 December 2023
535,028
15,995
551,023
------------
--------
------------
At 31 December 2022
701,023
21,328
722,351
------------
--------
------------
6. Debtors
2023
2022
£
£
Trade debtors
231,501
129,989
Other debtors
1,332,171
1,530,225
------------
------------
1,563,672
1,660,214
------------
------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
91,501
25,322
Amounts owed related undertakings
519,299
379,860
Social security and other taxes
224,047
245,651
Other creditors
486,532
534,734
------------
------------
1,321,379
1,185,567
------------
------------
8. Capital commitments
Capital expenditure contracted for but not provided for in the financial statements is as follows:
2023
2022
£
£
Tangible assets
276,426
----
---------