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REGISTERED NUMBER: 06357529 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Millets Farm Shop Limited

Millets Farm Shop Limited (Registered number: 06357529)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Millets Farm Shop Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: N J Carter
A D Carter





SECRETARY: N J Carter





REGISTERED OFFICE: Hermes House
Fire Fly Avenue
Swindon
Wiltshire
SN2 2GA





REGISTERED NUMBER: 06357529 (England and Wales)

Millets Farm Shop Limited (Registered number: 06357529)

Balance Sheet
31 January 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 463,333 483,333
Investments 6 835,605 835,605
1,298,938 1,318,938
TOTAL ASSETS LESS CURRENT LIABILITIES 1,298,938 1,318,938

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 7 1,297,938 1,317,938
SHAREHOLDERS' FUNDS 1,298,938 1,318,938

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.

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 22 October 2024 and were signed on its behalf by:




N J Carter - Director



A D Carter - Director


Millets Farm Shop Limited (Registered number: 06357529)

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

1. STATUTORY INFORMATION

Millets Farm Shop 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of forty years.

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.

Financial instruments
Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other creditors, bank loans and overdrafts and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

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.

Investments
The company holds 9% of the share capital of Millets Farm Centre Ltd. This investment is held at cost less accumulated impairment losses.

Income from the investment consists of dividends, which are recognised when the right to receive the income is established.

Millets Farm Shop Limited (Registered number: 06357529)

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

3. ACCOUNTING POLICIES - continued

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Distributions to equity holders

Dividends and other distributions to company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the company's shareholders. These amounts are recognised in the statement of changes in equity.

Related party transactions

The company discloses transactions with related parties which are not wholly owned with the same group. It does not disclose transactions with members of the same group that are wholly owned.

4. EMPLOYEES AND DIRECTORS

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

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 800,000
AMORTISATION
At 1 February 2023 316,667
Amortisation for year 20,000
At 31 January 2024 336,667
NET BOOK VALUE
At 31 January 2024 463,333
At 31 January 2023 483,333

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 February 2023
and 31 January 2024 835,605
NET BOOK VALUE
At 31 January 2024 835,605
At 31 January 2023 835,605

The fixed asset investment relates to the company's investment in 9% of the share capital of Millets Farm Centre Ltd.

7. RESERVES
Retained
earnings
£   

At 1 February 2023 1,317,938
Profit for the year 65,208
Dividends (85,208 )
At 31 January 2024 1,297,938

Millets Farm Shop Limited (Registered number: 06357529)

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

8. RELATED PARTY DISCLOSURES

Millets Farm Centre Ltd
A company in which N J Carter and A D Carter are directors.

The investment is carried at cost of £835,605.

During the year the company received dividends totalling £86,121 (2023 - £86,464) from Millets Farm Centre Ltd.

J L Carter & Partners
A partnership in which N J Carter & A D Carter are partners.

During the year, J L Carter & Partners paid expenses and liabilities totalling £913 (2023 - £868) on behalf of Millets Farm Shop Ltd.

The amount due to the related party at the balance sheet date was £0 (2023 - £0).

9. ULTIMATE CONTROLLING PARTY

The company is under the control of its directors, N J Carter and A D Carter.