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REGISTERED NUMBER: 06393213 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

FARM & COUNTRY SUPPLIES LIMITED

FARM & COUNTRY SUPPLIES LIMITED (REGISTERED NUMBER: 06393213)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FARM & COUNTRY SUPPLIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: C Kruse
A Kruse
K Badman





REGISTERED OFFICE: Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA





REGISTERED NUMBER: 06393213 (England and Wales)





ACCOUNTANTS: Segrave & Partners LLP
Chartered Accountants
Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA

FARM & COUNTRY SUPPLIES LIMITED (REGISTERED NUMBER: 06393213)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 104,828 94,895

CURRENT ASSETS
Stocks 138,449 194,594
Debtors 5 87,750 295,739
Cash at bank and in hand 227,509 79,382
453,708 569,715
CREDITORS
Amounts falling due within one year 6 455,404 440,085
NET CURRENT (LIABILITIES)/ASSETS (1,696 ) 129,630
TOTAL ASSETS LESS CURRENT
LIABILITIES

103,132

224,525

CREDITORS
Amounts falling due after more than one
year

7

(51,466

)

(67,867

)

PROVISIONS FOR LIABILITIES (30,406 ) (23,626 )
NET ASSETS 21,260 133,032

CAPITAL AND RESERVES
Called up share capital 105 100
Retained earnings 10 21,155 132,932
SHAREHOLDERS' FUNDS 21,260 133,032

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.

FARM & COUNTRY SUPPLIES LIMITED (REGISTERED NUMBER: 06393213)

BALANCE SHEET - 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.

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 3 October 2024 and were signed on its behalf by:




C Kruse - Director A Kruse - Director




K Badman - Director


FARM & COUNTRY SUPPLIES LIMITED (REGISTERED NUMBER: 06393213)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Farm & Country Supplies 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 20% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

FARM & COUNTRY SUPPLIES LIMITED (REGISTERED NUMBER: 06393213)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 11,000 40,426 7,061 209,124 267,611
Additions - 57,592 - 13,200 70,792
Disposals (11,000 ) (22,000 ) (5,583 ) (38,000 ) (76,583 )
At 31 March 2024 - 76,018 1,478 184,324 261,820
DEPRECIATION
At 1 April 2023 10,608 19,030 2,384 140,694 172,716
Charge for year - 13,545 237 24,480 38,262
Eliminated on disposal (10,608 ) (10,736 ) (2,089 ) (30,553 ) (53,986 )
At 31 March 2024 - 21,839 532 134,621 156,992
NET BOOK VALUE
At 31 March 2024 - 54,179 946 49,703 104,828
At 31 March 2023 392 21,396 4,677 68,430 94,895

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 147,979
Disposals (38,000 )
At 31 March 2024 109,979
DEPRECIATION
At 1 April 2023 91,162
Charge for year 16,292
Eliminated on disposal (30,553 )
At 31 March 2024 76,901
NET BOOK VALUE
At 31 March 2024 33,078
At 31 March 2023 56,817

FARM & COUNTRY SUPPLIES LIMITED (REGISTERED NUMBER: 06393213)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 87,472 291,896
Prepayments and accrued income 278 3,843
87,750 295,739

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,355 10,218
Hire purchase contracts (see note 8) 23,689 15,689
Trade creditors 213,532 131,632
Tax (22,086 ) 22,086
Social security and other taxes 26,945 9,111
VAT 51,390 47,263
Other creditors 13,558 4,725
Stud Farm 13,000 13,000
Directors' current accounts 69,861 90,764
Shareholders' loan account 40,000 40,000
Accruals and deferred income 15,160 55,597
455,404 440,085

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 12,944 22,990
Hire purchase contracts (see note 8) 38,522 44,877
51,466 67,867

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 23,689 15,689
Between one and five years 38,522 44,877
62,211 60,566

FARM & COUNTRY SUPPLIES LIMITED (REGISTERED NUMBER: 06393213)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year - 56,000
Between one and five years - 9,333
- 65,333

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 62,211 60,566

The hire purchase creditor is secured against the asset to which it relates.

10. RESERVES
Retained
earnings
£   

At 1 April 2023 132,932
Deficit for the year (111,777 )
At 31 March 2024 21,155