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REGISTERED NUMBER: 07700629 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Branham Farming Limited

Branham Farming Limited (Registered number: 07700629)






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


Branham Farming Limited

Company Information
for the Year Ended 31 March 2024







Directors: Mr. N D Watson
Mrs. T E Watson





Registered office: 6 George Street
Driffield
East Yorkshire
YO25 6RA





Registered number: 07700629 (England and Wales)





Accountants: Ullyott Limited
6 George Street
Driffield
East Yorkshire
YO25 6RA

Branham Farming Limited (Registered number: 07700629)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,501,469 2,569,830
Investments 5 1,609 1,609
2,503,078 2,571,439

CURRENT ASSETS
Stocks 136,201 159,664
Debtors 6 47,010 42,410
183,211 202,074
CREDITORS
Amounts falling due within one year 7 139,085 131,793
NET CURRENT ASSETS 44,126 70,281
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,547,204

2,641,720

CREDITORS
Amounts falling due after more than one
year

8

889,223

926,992
NET ASSETS 1,657,981 1,714,728

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 1,657,881 1,714,628
SHAREHOLDERS' FUNDS 1,657,981 1,714,728

Branham Farming Limited (Registered number: 07700629)

Balance Sheet - continued
31 March 2024


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 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 8 October 2024 and were signed on its behalf by:





Mr. N D Watson - Director


Branham Farming Limited (Registered number: 07700629)

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

1. STATUTORY INFORMATION

Branham Farming 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.
Freehold property - No depreciation charged
Plant and machinery - 10% on cost
Solar panels - 5% on cost
Motor vehicles & tractors - 25% on reducing balance
Furniture & fittings - 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.

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.


Branham Farming Limited (Registered number: 07700629)

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

2. ACCOUNTING POLICIES - continued
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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 4 (2023 - 4 ) .

Branham Farming Limited (Registered number: 07700629)

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

4. TANGIBLE FIXED ASSETS
Improvements
Freehold Dairy to Plant and
property Herd property machinery
£    £    £    £   
COST
At 1 April 2023 1,601,543 102,330 306,414 864,197
Additions - - - 24,180
At 31 March 2024 1,601,543 102,330 306,414 888,377
DEPRECIATION
At 1 April 2023 - - - 483,247
Charge for year - - - 88,594
At 31 March 2024 - - - 571,841
NET BOOK VALUE
At 31 March 2024 1,601,543 102,330 306,414 316,536
At 31 March 2023 1,601,543 102,330 306,414 380,950

Motor
Solar vehicles Furniture
panels & tractors & fittings Totals
£    £    £    £   
COST
At 1 April 2023 251,261 40,522 11,636 3,177,903
Additions 16,592 - - 40,772
At 31 March 2024 267,853 40,522 11,636 3,218,675
DEPRECIATION
At 1 April 2023 100,505 19,626 4,940 608,318
Charge for year 13,392 5,225 1,677 108,888
At 31 March 2024 113,897 24,851 6,617 717,206
NET BOOK VALUE
At 31 March 2024 153,956 15,671 5,019 2,501,469
At 31 March 2023 150,756 20,896 6,696 2,569,585

Branham Farming Limited (Registered number: 07700629)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 46,044
DEPRECIATION
At 1 April 2023 13,812
Charge for year 4,604
At 31 March 2024 18,416
NET BOOK VALUE
At 31 March 2024 27,628
At 31 March 2023 32,232

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 1,609
NET BOOK VALUE
At 31 March 2024 1,609
At 31 March 2023 1,609

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 33,941 27,608
VAT 6,853 8,586
Prepayments and accrued income 6,216 6,216
47,010 42,410

Branham Farming Limited (Registered number: 07700629)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 40,943 28,445
Hire purchase contracts 3,842 10,313
Trade creditors 20,582 33,381
Social security and other taxes 3,373 1,019
Directors' current accounts 67,393 55,648
Accruals and deferred income 2,952 2,987
139,085 131,793

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 24,667 34,667
Bank loans - 2-5 years 57,981 63,937
Other loans 81,575 239,546
Hire purchase contracts - 3,842
Directors' loan accounts 725,000 585,000
889,223 926,992

9. CALLED UP SHARE CAPITAL

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