Company No:
Contents
Note | 31.03.2024 | |
£ | ||
Fixed assets | ||
Tangible assets | 3 |
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Capital herd | 4 | 235,317 |
445,726 | ||
Current assets | ||
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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49,577 | ||
Creditors: amounts falling due within one year | 6 | (
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Net current liabilities | (347,513) | |
Total assets less current liabilities | 98,213 | |
Provision for liabilities | (
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Net assets |
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Capital and reserves | ||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Bloye Farms Limited (registered number:
Mr T Bloye
Director |
Mrs S Bloye
Director |
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Mr S Bloye
Director |
Mr J Bloye
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
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 £.
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.
Plant and machinery |
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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.
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 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 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.
Period from 17.01.2023 to 31.03.2024 |
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Number | |
Monthly average number of persons employed by the Company during the period, including directors |
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Plant and machinery | Total | ||
£ | £ | ||
Cost | |||
At 17 January 2023 |
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Additions |
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At 31 March 2024 |
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Accumulated depreciation | |||
At 17 January 2023 |
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Charge for the financial period |
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At 31 March 2024 |
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Net book value | |||
At 31 March 2024 |
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31.03.2024 | |
£ | |
Capital herd at cost |
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Assets held at cost:
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Total | ||
£ | £ | ||
Cost | |||
At 17 January 2023 |
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At 31 March 2024 |
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Net book value | |||
At 31 March 2024 |
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31.03.2024 | |
£ | |
Trade debtors |
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Other debtors |
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31.03.2024 | |
£ | |
Trade creditors |
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Amounts owed to connected companies |
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Other creditors |
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31.03.2024 | |
£ | |
Allotted, called-up and fully-paid | |
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4 |
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.