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REGISTERED NUMBER: 09368236 (England and Wales)












Farming Systems Limited

Unaudited Financial Statements

for the Year Ended 31 January 2024






Farming Systems Limited (Registered number: 09368236)






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




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


Farming Systems Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: A W Hutton
Mrs L A Hutton





REGISTERED OFFICE: 8a Wingbury Courtyard
Business Village
Leighton Road
Wingrave
Buckinghamshire
HP22 4LW





REGISTERED NUMBER: 09368236 (England and Wales)





ACCOUNTANTS: Clarkson Cleaver & Bowes Ltd
8a Wingbury Courtyard
Business Village
Wingrave
Buckinghamshire
HP22 4LW

Farming Systems Limited (Registered number: 09368236)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 507 676

CURRENT ASSETS
Debtors 5 19,889 9,348
Cash at bank 2,525 640
22,414 9,988
CREDITORS
Amounts falling due within one year 6 18,813 23,136
NET CURRENT ASSETS/(LIABILITIES) 3,601 (13,148 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,108

(12,472

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 4,008 (12,572 )
SHAREHOLDERS' FUNDS 4,108 (12,472 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

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

Farming Systems Limited (Registered number: 09368236)

Balance Sheet - continued
31 January 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 3 October 2024 and were signed on its behalf by:





A W Hutton - Director


Farming Systems Limited (Registered number: 09368236)

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

1. STATUTORY INFORMATION

Farming Systems 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 represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% reducing balance
Computer equipment - 33.33% straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement.

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.

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 and that are expected to apply to the reversal of the timing difference.

Current or deferred taxation liabilities are not discounted.

3. EMPLOYEES AND DIRECTORS

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

Farming Systems Limited (Registered number: 09368236)

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

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 1,535 2,174 3,709
DEPRECIATION
At 1 February 2023 859 2,174 3,033
Charge for year 169 - 169
At 31 January 2024 1,028 2,174 3,202
NET BOOK VALUE
At 31 January 2024 507 - 507
At 31 January 2023 676 - 676

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,405 -
Other debtors 5,484 9,348
19,889 9,348

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 8,308 5,575
Other creditors 10,505 17,561
18,813 23,136

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
A W Hutton
Balance outstanding at start of year - 2,103
Amounts repaid - (2,103 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Farming Systems Limited (Registered number: 09368236)

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

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

A L Hutton
Balance outstanding at start of year - 415
Amounts repaid - (415 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -