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REGISTERED NUMBER: 01722471 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

FIELDFARE FARMS LIMITED

FIELDFARE FARMS LIMITED (REGISTERED NUMBER: 01722471)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FIELDFARE FARMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: A J Bailey
Mrs J B A Bailey
J P Bailey
J D Bailey
Mrs S D Bailey





SECRETARY: Mrs S D Bailey





REGISTERED OFFICE: Ford Farm Old Malthouse Lane
Ford
Salisbury
SP4 6DR





REGISTERED NUMBER: 01722471 (England and Wales)





ACCOUNTANTS: Fawcetts LLP
Chartered Accountants
Windover House
St. Ann Street
Salisbury
SP1 2DR

FIELDFARE FARMS LIMITED (REGISTERED NUMBER: 01722471)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,431,177 1,416,585
Investments 5 25 25
1,431,202 1,416,610

CURRENT ASSETS
Stocks 559,672 634,457
Debtors 6 105,573 179,619
Cash at bank and in hand 77,045 57,746
742,290 871,822
CREDITORS
Amounts falling due within one year 7 147,517 186,066
NET CURRENT ASSETS 594,773 685,756
TOTAL ASSETS LESS CURRENT LIABILITIES 2,025,975 2,102,366

CREDITORS
Amounts falling due after more than one
year

8

(462,157

)

(538,057

)

PROVISIONS FOR LIABILITIES (50,969 ) (35,351 )
NET ASSETS 1,512,849 1,528,958

CAPITAL AND RESERVES
Called up share capital 9 505,000 505,000
Retained earnings 1,007,849 1,023,958
SHAREHOLDERS' FUNDS 1,512,849 1,528,958

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

FIELDFARE FARMS LIMITED (REGISTERED NUMBER: 01722471)

BALANCE SHEET - continued
30 JUNE 2024


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 30 September 2024 and were signed on its behalf by:





J D Bailey - Director


FIELDFARE FARMS LIMITED (REGISTERED NUMBER: 01722471)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Fieldfare 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.

The financial statements have been prepared on a going concern basis and are presented in Sterling (£) which is the functional currency of the company.

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

Turnover
Turnover represents net invoiced sales of farming output, excluding value added tax where applicable, and of trailers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - see below
Plant and machinery - 25% on reducing balance
Assets held for hire - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low value with short life. Repair, renovation and replacement expenditure is written off as expenditure in the profit and loss account. The cost of fixed assets is their purchase costs, together with any incidental costs of acquisition.

Freehold land is not depreciated. Freehold buildings are depreciated at rates of between 2% and 2.5% per annum on cost.

Stocks
Stock is valued by the directors at cost together with suitable increases in the case of livestock and growing crops.



FIELDFARE FARMS LIMITED (REGISTERED NUMBER: 01722471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company contributes towards their employees and directors personal pension scheme and payments are charged to the profit and loss account in the period to which they relate.

Debtors
Debtors are measured at their recoverable amount.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

FIELDFARE FARMS LIMITED (REGISTERED NUMBER: 01722471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 1,560,613 538,889 2,099,502
Additions - 113,836 113,836
Disposals - (62,214 ) (62,214 )
At 30 June 2024 1,560,613 590,511 2,151,124
DEPRECIATION
At 1 July 2023 349,685 333,232 682,917
Charge for year 18,029 42,545 60,574
Eliminated on disposal - (23,544 ) (23,544 )
At 30 June 2024 367,714 352,233 719,947
NET BOOK VALUE
At 30 June 2024 1,192,899 238,278 1,431,177
At 30 June 2023 1,210,928 205,657 1,416,585

Freehold property includes land at cost of £762,996.

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023
and 30 June 2024 25
NET BOOK VALUE
At 30 June 2024 25
At 30 June 2023 25

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 32,273 71,840
Other debtors 73,300 83,355
105,573 155,195

FIELDFARE FARMS LIMITED (REGISTERED NUMBER: 01722471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


6. DEBTORS - continued
2024 2023
£    £   
Amounts falling due after more than one year:
Other debtors - 24,424

Aggregate amounts 105,573 179,619

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 109,320 129,387
Taxation and social security 23,155 46,402
Other creditors 15,042 10,277
147,517 186,066

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 462,157 538,057

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
5,000 Income £1 5,000 5,000
25,000 A £1 25,000 25,000
25,000 B £1 25,000 25,000
220,000 C £1 220,000 220,000
230,000 D £1 230,000 230,000
505,000 505,000

10. RELATED PARTY DISCLOSURES

Creditors due after one year include directors' loans of £462,157 (2022 - £498,057).

Other creditors due after one year include a loan of £Nil (2023 - £40,000). This is due to the children of two of the directors.

During the year the company paid a total of £14,292 (2023 - £13,600) loan interest to the directors of the company.