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Registered number: 00963949
Peter Moulds Farmers Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Mumby Heppenstall
Chartered Accountants
Wellingore Hall
Wellingore
Lincoln
LN5 0HX
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 00963949
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,219,796 1,291,102
Investments 5 15 15
1,219,811 1,291,117
CURRENT ASSETS
Stocks 6 201,259 395,933
Debtors 7 50,079 51,103
Cash at bank and in hand 959,538 744,363
1,210,876 1,191,399
Creditors: Amounts Falling Due Within One Year 8 (115,007 ) (158,089 )
NET CURRENT ASSETS (LIABILITIES) 1,095,869 1,033,310
TOTAL ASSETS LESS CURRENT LIABILITIES 2,315,680 2,324,427
Creditors: Amounts Falling Due After More Than One Year 9 - (10,500 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (96,202 ) (113,779 )
NET ASSETS 2,219,478 2,200,148
CAPITAL AND RESERVES
Called up share capital 11 4,000 4,000
Income Statement 2,215,478 2,196,148
SHAREHOLDERS' FUNDS 2,219,478 2,200,148
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr P R Moulds
Director
11th October 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Peter Moulds Farmers Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00963949 . The registered office is The Grange, Torksey, Lincoln, LN1 2ES.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in pounds sterling, which is the functional currency of the entity.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% straight line (excluding land)
Leasehold 20% straight line
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Wind Turbine 5% straight line
Computer Equipment 25% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.5. Stocks and Work in Progress
The stock valuation in the accounts has been prepared by Perkins George Mawer & Co, Chartered Valuation Surveyors, on the basis of the lower of cost and net realisable value.
2.6. Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classified as financial liabilities. Financial liabilities are presented as such in the statement of financial position. Finance costs and gains or losses relating to financial liabilities are included in the statement of income and retained earnings. Finance costs are calculated so as to produce a constant rate of return on an outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited directly to equity.

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Page 4
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company makes contributions to a workplace pension under auto-enrolment. The annual contributions paid are charged to the statement of income and retained earnings.
2.9. Government Grant
Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.
All grants in the income statement are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 April 2023 885,647 20,375 928,306 16,000
Additions - - 5,630 -
As at 31 March 2024 885,647 20,375 933,936 16,000
Depreciation
As at 1 April 2023 49,664 20,375 744,094 9,250
Provided during the period 997 - 47,461 1,688
As at 31 March 2024 50,661 20,375 791,555 10,938
...CONTINUED
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Net Book Value
As at 31 March 2024 834,986 - 142,381 5,062
As at 1 April 2023 835,983 - 184,212 6,750
Wind Turbine Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 535,453 70 2,385,851
Additions - - 5,630
As at 31 March 2024 535,453 70 2,391,481
Depreciation
As at 1 April 2023 271,331 35 1,094,749
Provided during the period 26,772 18 76,936
As at 31 March 2024 298,103 53 1,171,685
Net Book Value
As at 31 March 2024 237,350 17 1,219,796
As at 1 April 2023 264,122 35 1,291,102
5. Investments
Other
£
Cost
As at 1 April 2023 15
As at 31 March 2024 15
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 15
As at 1 April 2023 15
6. Stocks
2024 2023
£ £
Crops 104,175 171,276
Tenantright 66,820 180,600
Sundry stocks 30,264 44,057
201,259 395,933
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Page 6
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 29,302 28,122
Prepayments and accrued income 17,738 17,117
VAT 419 470
Other taxes and social security 2,620 5,394
50,079 51,103
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 9,094 22,783
Corporation tax 25,493 64,329
Hire purchase 10,500 10,500
Accruals and deferred income 5,504 5,508
Directors' loan accounts 64,416 54,969
115,007 158,089
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Hire purchase > 1 year - 10,500
10. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,500 21,000
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4,000 4,000
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