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REGISTERED NUMBER: 03360820 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

E.J. FARMS LIMITED

E.J. FARMS LIMITED (REGISTERED NUMBER: 03360820)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


E.J. FARMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: A E Jefferson
E H B Jefferson





REGISTERED OFFICE: Hall End
Kynaston
Ledbury
Herefordshire
HR8 2PD





REGISTERED NUMBER: 03360820 (England and Wales)





ACCOUNTANTS: Prime
Chartered Accountants
161 Newhall Street
Birmingham
B3 1SW

E.J. FARMS LIMITED (REGISTERED NUMBER: 03360820)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,200 5,200
Tangible assets 5 2,620,488 2,637,497
Investment property 6 995,000 995,000
3,620,688 3,637,697

CURRENT ASSETS
Stocks 126,349 118,406
Debtors 7 87,760 90,648
Cash in hand 55 15
214,164 209,069
CREDITORS
Amounts falling due within one year 8 2,067,930 2,088,452
NET CURRENT LIABILITIES (1,853,766 ) (1,879,383 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,766,922

1,758,314

CREDITORS
Amounts falling due after more than one
year

9

(286,581

)

(293,995

)

PROVISIONS FOR LIABILITIES (50,635 ) (18,214 )
NET ASSETS 1,429,706 1,446,105

CAPITAL AND RESERVES
Called up share capital 1,180,000 1,180,000
Fair value reserve 11 395,487 395,487
Retained earnings (145,781 ) (129,382 )
1,429,706 1,446,105

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

E.J. FARMS LIMITED (REGISTERED NUMBER: 03360820)

BALANCE SHEET - continued
31 DECEMBER 2023


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 16 October 2024 and were signed on its behalf by:





E H B Jefferson - Director


E.J. FARMS LIMITED (REGISTERED NUMBER: 03360820)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

E.J. Farms 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.

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 as modified by the revaluation of certain assets.

Turnover
Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Revenues from farming subsidies and incentive payments are recognised on the anticipated amounts receivable based on the returns made to the various governmental bodies.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Single Farm Payment are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Farm buildings - 2% on cost
Plant and machinery - 33.33% on reducing balance and 20% on reducing balance

Freehold land is not depreciated.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, costs include all costs relevant to the production of the stock, together with a reasonable proportion of overheads incurred to the stage of production as 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.


E.J. FARMS LIMITED (REGISTERED NUMBER: 03360820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


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.

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 1 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 5,200
NET BOOK VALUE
At 31 December 2023 5,200
At 31 December 2022 5,200

E.J. FARMS LIMITED (REGISTERED NUMBER: 03360820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Freehold Farm Plant and Computer
property buildings machinery equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 2,478,421 173,457 384,856 1,925 3,038,659
Additions - - 14,201 - 14,201
Disposals - - (14,272 ) - (14,272 )
At 31 December 2023 2,478,421 173,457 384,785 1,925 3,038,588
DEPRECIATION
At 1 January 2023 50,314 64,064 284,870 1,914 401,162
Charge for year - 3,304 21,127 3 24,434
Eliminated on disposal - - (7,496 ) - (7,496 )
At 31 December 2023 50,314 67,368 298,501 1,917 418,100
NET BOOK VALUE
At 31 December 2023 2,428,107 106,089 86,284 8 2,620,488
At 31 December 2022 2,428,107 109,393 99,986 11 2,637,497

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 995,000
NET BOOK VALUE
At 31 December 2023 995,000
At 31 December 2022 995,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2000 76,564
Valuation in 2001 34,717
Valuation in 2016 371,000
Cost 512,719
995,000

Investment property was last revalued in 2016. The directors still deem this valuation to be applicable as of today.

E.J. FARMS LIMITED (REGISTERED NUMBER: 03360820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 26,918 84,171
Other debtors 60,842 6,477
87,760 90,648

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 37,753 78,205
Trade creditors 25,009 60,128
Taxation and social security 31,478 4,913
Other creditors 1,973,690 1,945,206
2,067,930 2,088,452

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 286,581 293,995

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 226,916 234,330

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 24,058 64,510
Bank loans 300,276 307,690
324,334 372,200

The bank borrowings are secured on a charge over the freehold of 100 acres of land.

11. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 395,487