Registered number: 4219661 | ||||||||
FOR THE YEAR ENDED 31/03/2024 | ||||||||
Prepared By: | ||||||||
JAN G GROMADZKI | ||||||||
CHARTERED ACCOUNTANT | ||||||||
13 WOLVERHAMPTON ROAD | ||||||||
CODSALL | ||||||||
WOLVERHAMPTON | ||||||||
WEST MIDLANDS | ||||||||
WV8 1PT |
FARMCOTE ESTATES LIMITED | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/03/2024 | ||||||||
DIRECTORS | ||||||||
SECRETARY | ||||||||
REGISTERED OFFICE | ||||||||
WEST MIDLANDS | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 4219661 | ||||||||
BANKERS | ||||||||
NATIONAL WESTMINSTER BANK Plc & SVENSKA HANDELSBANKEN AB (publ) | ||||||||
SOLICITORS | ||||||||
ACCOUNTANTS | ||||||||
JAN G GROMADZKI | ||||||||
CHARTERED ACCOUNTANT | ||||||||
13 WOLVERHAMPTON ROAD | ||||||||
CODSALL | ||||||||
WOLVERHAMPTON | ||||||||
WEST MIDLANDS | ||||||||
WV8 1PT |
FARMCOTE ESTATES LIMITED | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/03/2024 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
FARMCOTE ESTATES LIMITED | ||||||||
BALANCE SHEET AT | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 | |||||||||
CURRENT ASSETS | ||||||||||
Debtors | 3 | |||||||||
Cash at bank and in hand | ||||||||||
81,509 | 101,990 | |||||||||
CREDITORS: Amounts falling due within one year | 4 | |||||||||
NET CURRENT ASSETS | 27,880 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 5 | 17,168 | 24,495 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 8 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 9 | |||||||||
Profit and loss account | 1,309,566 | 1,308,546 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
FARMCOTE ESTATES LIMITED | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/03/2024 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is an indication that any items have suffered impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. | ||||||||
Land and buildings are currently not depreciated as, in the opinion of the directors, the estimated residual value is not expected to be below the original cost. | ||||||||
Equipment | straight line10% |
1c. Basis Of Accounting FRS 1021 a | ||||||||
The accounts have been prepared under the historical cost convention and are stated in United Kingdom Pounds Sterling. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. |
FARMCOTE ESTATES LIMITED | ||||||||
2. TANGIBLE FIXED ASSETS | ||||||||||
Land And | ||||||||||
Buildings | Equipment | Total | ||||||||
£ | £ | £ | ||||||||
Cost | ||||||||||
At 01/04/2023 | 1,257,341 | 101,766 | 1,359,107 | |||||||
Additions | - | 1,021 | 1,021 | |||||||
Disposals | - | (4,000) | (4,000) | |||||||
At 31/03/2024 | 1,257,341 | 98,787 | 1,356,128 | |||||||
Depreciation | ||||||||||
At 01/04/2023 | - | 47,325 | 47,325 | |||||||
Disposals | - | (4,000) | (4,000) | |||||||
For the year | - | 6,000 | 6,000 | |||||||
At 31/03/2024 | - | 49,325 | 49,325 | |||||||
Net Book Amounts | ||||||||||
At 31/03/2024 | 1,306,803 | |||||||||
At 31/03/2023 | 1,311,782 | |||||||||
In the opinion of the directors there is no significant difference between the open market value and cost of land and buildings. | ||||||||||
3. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 59,756 | 74,589 | ||||||
Prepayments | 5,042 | 5,415 | ||||||
64,798 | 80,004 | |||||||
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
UK corporation tax | 35,620 | 22,629 | ||||||
VAT | 5,317 | 8,871 | ||||||
Directors current account | 297 | 10,297 | ||||||
Directors current account | 1,991 | 21,933 | ||||||
Bank Loan | 5,866 | 5,866 | ||||||
Other creditors | 1,334 | 1,334 | ||||||
Accruals | 3,380 | 3,180 | ||||||
53,805 | 74,110 | |||||||
FARMCOTE ESTATES LIMITED | ||||||||
5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
National Westminster Bank Plc Bounce back loan >1yr | 17,168 | 24,495 | ||||||
17,168 | 24,495 | |||||||
The bank loans are secured by charges on the freehold land and buildings included in tangible fixed assets at a net book value of £ 1,257,341. | ||||||||
6. SECURED CREDITORS | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Amount of bank loans and overdrafts which are secured | 23,034 | 30,361 | ||||||
7. EMPLOYEES | ||||||||
2024 | 2023 | |||||||
No. | No. | |||||||
Average number of employees | 2 | |||||||
Key management personnel is restricted to that of the two directors. | ||||||||
8. PROVISIONS FOR LIABILITIES | 2024 | 2023 | ||||||
£ | £ | |||||||
Deferred taxation | 6,773 | 5,621 | ||||||
6,773 | 5,621 | |||||||
9. SHARE CAPITAL | 2024 | 2023 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
1000 | 1000 | |||||||
1,000 | 1,000 | |||||||
FARMCOTE ESTATES LIMITED | ||||||||
10. CONTROLLING PARTY | ||||||||
The company is under the joint control of the two directors Mr P J Barby and Mrs S Round. | ||||||||
11. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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12. NATURE OF OPERATIONS AND PRINCIPAL ACTIVITY | ||||||||
The company operates in the residential and commercial property development and holding and letting sector, all of which is carried out within the United Kingdom. | ||||||||
13. GENERAL INFORMATION | ||||||||
Farmcote Estates Limited is a private company limited by shares and incorporated in England. Its registered office is 7 Danesbrook, Claverley, Wolverhampton, West Midlands, WV5 7BB. | ||||||||
The financial statements are presented in United Kingdom Pounds Sterling, which is the functional currency of the company. | ||||||||