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REGISTERED NUMBER: 04771354 (England and Wales)












Financial Statements

for the Year Ended 31 March 2024

for

Saorphin Farms Limited

Saorphin Farms Limited (Registered number: 04771354)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Saorphin Farms Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J T Loveys Jervoise
S F C L Jervoise
A R L Jervoise





SECRETARY: J T Loveys Jervoise





REGISTERED OFFICE: Estate Office
Herriard Park
Basingstoke
Hampshire
RG25 2PL





REGISTERED NUMBER: 04771354 (England and Wales)





ACCOUNTANTS: Ahmad York Limited
Chartered Certified Accountants
1 Stanyards Courtyard
Stanyards Farm
Chertsey Road
Chobham
Surrey
GU24 8JE

Saorphin Farms Limited (Registered number: 04771354)

Abridged Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,574 6,968
Investment property 5 1,100,000 950,000
1,105,574 956,968

CURRENT ASSETS
Debtors 46,387 49,347
Cash at bank 21,418 13,126
67,805 62,473
CREDITORS
Amounts falling due within one year 410,997 409,014
NET CURRENT LIABILITIES (343,192 ) (346,541 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

762,382

610,427

CREDITORS
Amounts falling due after more than one
year

(10,000

)

(25,000

)

PROVISIONS FOR LIABILITIES (146,747 ) (83,546 )
NET ASSETS 605,635 501,881

CAPITAL AND RESERVES
Called up share capital 6 6
Non - distributable
reserve 610,967 524,432
Retained earnings (5,338 ) (22,557 )
SHAREHOLDERS' FUNDS 605,635 501,881

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Saorphin Farms Limited (Registered number: 04771354)

Abridged Statement of Financial Position - continued
31 March 2024


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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:





J T Loveys Jervoise - Director


Saorphin Farms Limited (Registered number: 04771354)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Saorphin 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instrument transactions in accordance with Section 11. Financial assets and liabilities are measured at cost and financial assets are assessed at the end of each reporting period for objective evidence of impairment.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

Saorphin Farms Limited (Registered number: 04771354)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 18,850
DEPRECIATION
At 1 April 2023 11,882
Charge for year 1,394
At 31 March 2024 13,276
NET BOOK VALUE
At 31 March 2024 5,574
At 31 March 2023 6,968

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 950,000
Revaluations 150,000
At 31 March 2024 1,100,000
NET BOOK VALUE
At 31 March 2024 1,100,000
At 31 March 2023 950,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2015 406,655
Valuation in 2016 10,000
Valuation in 2017 20,000
Valuation in 2022 170,000
Valuation in 2024 150,000
Cost 343,345
1,100,000

6. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 10,000 25,000

Bank loans are secured on the land and buildings owned by the company.

Saorphin Farms Limited (Registered number: 04771354)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. GOING CONCERN

The financial statements have been prepared on a going concern basis, despite a net current liability position as shown on the balance sheet. The basis is supported by virtue of the fact that continued financial support is provided to the company by its directors.

8. RELATED PARTY DISCLOSURES

As at 31 March 2024 a balance of £191,338 (2023: £191,338) was due to the directors in respect of loans which has not been concluded under normal market conditions.