Silverfin false false 31/03/2024 17/01/2023 31/03/2024 Mr S Bloye 17/01/2023 Mrs S Bloye 17/01/2023 Mr T Bloye 17/01/2023 Mr J Bloye 17/01/2023 16 October 2024 The principle activity of the Company during the financial period was dairy farming. 14597188 2024-03-31 14597188 bus:Director1 2024-03-31 14597188 bus:Director2 2024-03-31 14597188 bus:Director3 2024-03-31 14597188 bus:Director4 2024-03-31 14597188 core:CurrentFinancialInstruments 2024-03-31 14597188 core:ShareCapital 2024-03-31 14597188 core:RetainedEarningsAccumulatedLosses 2024-03-31 14597188 core:PlantMachinery 2023-01-16 14597188 2023-01-16 14597188 core:PlantMachinery 2024-03-31 14597188 core:ConsumableBiologicalAssetClass1 2023-01-16 14597188 core:ConsumableBiologicalAssetClass1 2024-03-31 14597188 core:CurrentFinancialInstruments 1 2024-03-31 14597188 bus:OrdinaryShareClass1 2024-03-31 14597188 bus:OrdinaryShareClass2 2024-03-31 14597188 bus:OrdinaryShareClass3 2024-03-31 14597188 bus:OrdinaryShareClass4 2024-03-31 14597188 2023-01-17 2024-03-31 14597188 bus:FilletedAccounts 2023-01-17 2024-03-31 14597188 bus:SmallEntities 2023-01-17 2024-03-31 14597188 bus:AuditExemptWithAccountantsReport 2023-01-17 2024-03-31 14597188 bus:PrivateLimitedCompanyLtd 2023-01-17 2024-03-31 14597188 bus:Director1 2023-01-17 2024-03-31 14597188 bus:Director2 2023-01-17 2024-03-31 14597188 bus:Director3 2023-01-17 2024-03-31 14597188 bus:Director4 2023-01-17 2024-03-31 14597188 core:PlantMachinery 2023-01-17 2024-03-31 14597188 core:ConsumableBiologicalAssetClass1 2023-01-17 2024-03-31 14597188 bus:OrdinaryShareClass1 2023-01-17 2024-03-31 14597188 bus:OrdinaryShareClass2 2023-01-17 2024-03-31 14597188 bus:OrdinaryShareClass3 2023-01-17 2024-03-31 14597188 bus:OrdinaryShareClass4 2023-01-17 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14597188 (England and Wales)

BLOYE FARMS LIMITED

Unaudited Financial Statements
For the financial period from 17 January 2023 to 31 March 2024
Pages for filing with the registrar

BLOYE FARMS LIMITED

Unaudited Financial Statements

For the financial period from 17 January 2023 to 31 March 2024

Contents

BLOYE FARMS LIMITED

BALANCE SHEET

As at 31 March 2024
BLOYE FARMS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024
£
Fixed assets
Tangible assets 3 210,409
Capital herd 4 235,317
445,726
Current assets
Stocks 1,800
Debtors 5 45,484
Cash at bank and in hand 2,293
49,577
Creditors: amounts falling due within one year 6 ( 397,090)
Net current liabilities (347,513)
Total assets less current liabilities 98,213
Provision for liabilities ( 24,614)
Net assets 73,599
Capital and reserves
Called-up share capital 7 4
Profit and loss account 73,595
Total shareholders' funds 73,599

For the financial period ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Bloye Farms Limited (registered number: 14597188) were approved and authorised for issue by the Board of Directors on 16 October 2024. They were signed on its behalf by:

Mr T Bloye
Director
Mrs S Bloye
Director
Mr S Bloye
Director
Mr J Bloye
Director
BLOYE FARMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 17 January 2023 to 31 March 2024
BLOYE FARMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 17 January 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Bloye Farms Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Tamar Ridge, Coxpark, Gunnislake, Cornwall, PL18 9BD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Biological assets

The Company owns a dairy herd. In accordance with FRS102, these are defined as biological assets.

Biological assets are recognised only when the entity has control of the asset as a result of past events, it is probable that future economic benefits associated with the asset will flow to the entity, and the fair value or cost of the asset can be measured reliably.

The Company measures biological assets at cost.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

Period from
17.01.2023 to
31.03.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 0

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 17 January 2023 0 0
Additions 217,537 217,537
At 31 March 2024 217,537 217,537
Accumulated depreciation
At 17 January 2023 0 0
Charge for the financial period 7,128 7,128
At 31 March 2024 7,128 7,128
Net book value
At 31 March 2024 210,409 210,409

3. Capital herd

31.03.2024
£
Capital herd at cost 235,317

Assets held at cost:

Dairy Total
£ £
Cost
At 17 January 2023 0 0
At 31 March 2024 235,317 235,317
Net book value
At 31 March 2024 235,317 235,317

5. Debtors

31.03.2024
£
Trade debtors 29,383
Other debtors 16,101
45,484

6. Creditors: amounts falling due within one year

31.03.2024
£
Trade creditors 150,735
Amounts owed to connected companies 1,000
Other creditors 245,355
397,090

7. Called-up share capital

31.03.2024
£
Allotted, called-up and fully-paid
1 Ordinary A share of £ 1.00 1
1 Ordinary B share of £ 1.00 1
1 Ordinary C share of £ 1.00 1
1 Ordinary D share of £ 1.00 1
4

During the period, 1 Ordinary A, 1 Ordinary B, 1 Ordinary C and 1 Ordinary D shares were issued at par value of £1 each.

8. Related party transactions

Transactions with the entity's directors

31.03.2024
£
Loan from director (243,524)

During the period, the company received a loan from the sole trade business of one of the directors. This loan is interest free and repayable on demand.