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REGISTERED NUMBER: 03528984 (England and Wales)















Unaudited Financial Statements

for the Year Ended

31 March 2024

for

New Farm Rural Industries Limited

New Farm Rural Industries Limited (Registered number: 03528984)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


New Farm Rural Industries Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S L Flamson
J Grady





REGISTERED OFFICE: Charnwood House
Harcourt Way
Meridian Business Park
Leicestershire
LE19 1WP





REGISTERED NUMBER: 03528984 (England and Wales)





ACCOUNTANTS: The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
New Farm Rural Industries Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of New Farm Rural Industries Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of New Farm Rural Industries Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of New Farm Rural Industries Limited and state those matters that we have agreed to state to the Board of Directors of New Farm Rural Industries Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than New Farm Rural Industries Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that New Farm Rural Industries Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of New Farm Rural Industries Limited. You consider that New Farm Rural Industries Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of New Farm Rural Industries Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP


18 October 2024

New Farm Rural Industries Limited (Registered number: 03528984)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,680,000 1,680,000

CURRENT ASSETS
Debtors 5 5,378 6,261

CREDITORS
Amounts falling due within one year 6 250,465 248,276
NET CURRENT LIABILITIES (245,087 ) (242,015 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,434,913

1,437,985

CREDITORS
Amounts falling due after more than
one year

7

652,817

686,931
NET ASSETS 782,096 751,054

CAPITAL AND RESERVES
Called up share capital 9 2 2
Revaluation reserve 10 198,234 198,234
Retained earnings 583,860 552,818
SHAREHOLDERS' FUNDS 782,096 751,054

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.

New Farm Rural Industries Limited (Registered number: 03528984)

Balance Sheet - continued
31 March 2024


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 18 October 2024 and were signed on its behalf by:





S L Flamson - Director


New Farm Rural Industries Limited (Registered number: 03528984)

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


1. STATUTORY INFORMATION

New Farm Rural Industries 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,680,000
NET BOOK VALUE
At 31 March 2024 1,680,000
At 31 March 2023 1,680,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2017 198,234
Cost 1,481,766
1,680,000

New Farm Rural Industries Limited (Registered number: 03528984)

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


4. INVESTMENT PROPERTY - continued

If Investment property had not been revalued it would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 1,481,766 1,481,766

The directors consider the fair value of the Investment property to be materially accurate at the balance sheet date.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 5,378 2,734
VAT - 3,527
5,378 6,261

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 78,500 84,903
Trade creditors 100 2,302
Corporation tax 9,894 9,851
VAT 1,039 -
Other creditors 33,207 33,207
Accrued expenses 127,725 118,013
250,465 248,276

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 2-5 years 180,507 189,454
Bank loans more 5 yrs 222,310 247,477
Other loans - 2-5 years 250,000 250,000
652,817 686,931

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yrs 222,310 247,477

New Farm Rural Industries Limited (Registered number: 03528984)

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


8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 430,276 468,126

The bank loan is secured by a debenture comprising fixed and floating charges over all assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary £1 2 2

10. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 198,234