IRIS Accounts Production v24.3.0.553 07979648 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh079796482023-03-31079796482024-03-31079796482023-04-012024-03-31079796482022-03-31079796482022-04-012023-03-31079796482023-03-3107979648ns15:EnglandWales2023-04-012024-03-3107979648ns14:PoundSterling2023-04-012024-03-3107979648ns10:Director12023-04-012024-03-3107979648ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3107979648ns10:SmallEntities2023-04-012024-03-3107979648ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3107979648ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3107979648ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3107979648ns10:FullAccounts2023-04-012024-03-3107979648ns10:OrdinaryShareClass12023-04-012024-03-3107979648ns10:Director22023-04-012024-03-3107979648ns10:RegisteredOffice2023-04-012024-03-3107979648ns5:CurrentFinancialInstruments2024-03-3107979648ns5:CurrentFinancialInstruments2023-03-3107979648ns5:Non-currentFinancialInstruments2024-03-3107979648ns5:Non-currentFinancialInstruments2023-03-3107979648ns5:ShareCapital2024-03-3107979648ns5:ShareCapital2023-03-3107979648ns5:RetainedEarningsAccumulatedLosses2024-03-3107979648ns5:RetainedEarningsAccumulatedLosses2023-03-3107979648ns5:PlantMachinery2023-04-012024-03-3107979648ns5:MotorVehicles2023-04-012024-03-3107979648ns5:PlantMachinery2023-03-3107979648ns5:MotorVehicles2023-03-3107979648ns5:PlantMachinery2024-03-3107979648ns5:MotorVehicles2024-03-3107979648ns5:PlantMachinery2023-03-3107979648ns5:MotorVehicles2023-03-3107979648ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3107979648ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3107979648ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-03-3107979648ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3107979648ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3107979648ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3107979648ns10:OrdinaryShareClass12024-03-3107979648ns5:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControlns5:OtherTransactionType12023-04-012024-03-31
REGISTERED NUMBER: 07979648 (England and Wales)


























Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Denniff Farms Ltd

Denniff Farms Ltd (Registered number: 07979648)






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




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Denniff Farms Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A S Denniff
Mrs F Denniff





REGISTERED OFFICE: Chancery Court
Suite 2
34 West Street
Retford
Nottinghamshire
DN22 6ES





REGISTERED NUMBER: 07979648 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Chancery Court
34 West Street
Retford
Nottinghamshire
DN22 6ES

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Denniff Farms Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Denniff Farms Ltd for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Denniff Farms Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Denniff Farms Ltd and state those matters that we have agreed to state to the Board of Directors of Denniff Farms Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Denniff Farms Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Denniff Farms Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Denniff Farms Ltd. You consider that Denniff Farms Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Denniff Farms Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Chancery Court
34 West Street
Retford
Nottinghamshire
DN22 6ES


2 October 2024

Denniff Farms Ltd (Registered number: 07979648)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 78,074 104,098

CURRENT ASSETS
Stocks 648,675 704,696
Debtors 5 34,711 39,506
Cash at bank 10,774 282,044
694,160 1,026,246
CREDITORS
Amounts falling due within one year 6 591,190 800,549
NET CURRENT ASSETS 102,970 225,697
TOTAL ASSETS LESS CURRENT
LIABILITIES

181,044

329,795

CREDITORS
Amounts falling due after more than one
year

7

-

(14,893

)

PROVISIONS FOR LIABILITIES - (13,723 )
NET ASSETS 181,044 301,179

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 180,944 301,079
SHAREHOLDERS' FUNDS 181,044 301,179

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.

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 2 October 2024 and were signed on its behalf by:





Mrs F Denniff - Director


Denniff Farms Ltd (Registered number: 07979648)

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

1. STATUTORY INFORMATION

Denniff Farms Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% 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.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

Denniff Farms Ltd (Registered number: 07979648)

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

2. ACCOUNTING POLICIES - continued

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.

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 3 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 29,109 154,235 183,344
DEPRECIATION
At 1 April 2023 24,495 54,751 79,246
Charge for year 1,153 24,871 26,024
At 31 March 2024 25,648 79,622 105,270
NET BOOK VALUE
At 31 March 2024 3,461 74,613 78,074
At 31 March 2023 4,614 99,484 104,098

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 30,602
DEPRECIATION
At 1 April 2023 15,204
Charge for year 3,850
At 31 March 2024 19,054
NET BOOK VALUE
At 31 March 2024 11,548
At 31 March 2023 15,398

Denniff Farms Ltd (Registered number: 07979648)

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 - 2,270
Other debtors 34,711 37,236
34,711 39,506

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 14,893 3,352
Trade creditors 65,279 187,537
Taxation and social security 1,744 6,796
Other creditors 509,274 602,864
591,190 800,549

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 14,893

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. RELATED PARTY DISCLOSURES

At the year end, the company owed to Mr A S Denniff and Mrs F Denniff (Directors and shareholders of the company) £508,404 (2023: £622,252).