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Registration number: 07705874

Arrijan Farming Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Arrijan Farming Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Arrijan Farming Ltd

Company Information

Director

H G Godsell

Registered office

Leahug Farm
Nupend
Stonehouse
Gloucestershire
GL10 3SU

Accountants

Burton Sweet
Chartered Certified Accountants
Cornerstone House
Midland Way
Thornbury
Bristol
BS35 2BS

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Arrijan Farming Ltd
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Arrijan Farming Ltd for the year ended 30 April 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Arrijan Farming Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Arrijan Farming Ltd and state those matters that we have agreed to state to the Board of Directors of Arrijan Farming Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Arrijan Farming Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Arrijan Farming Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Arrijan Farming Ltd. You consider that Arrijan Farming Ltd 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 accounts of Arrijan Farming Ltd. 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 accounts.

......................................

Burton Sweet
Chartered Certified Accountants
Cornerstone House
Midland Way
Thornbury
Bristol
BS35 2BS

14 October 2024

 

Arrijan Farming Ltd

(Registration number: 07705874)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

157,459

155,429

Current assets

 

Stocks

5

86,990

147,147

Debtors

6

9,542

12,475

Cash at bank and in hand

 

55,844

19,964

 

152,376

179,586

Creditors: Amounts falling due within one year

7

(146,782)

(135,539)

Net current assets

 

5,594

44,047

Total assets less current liabilities

 

163,053

199,476

Provisions for liabilities

-

(4,022)

Net assets

 

163,053

195,454

Capital and reserves

 

Called up share capital

1

1

Retained earnings

163,052

195,453

Shareholders' funds

 

163,053

195,454

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 14 October 2024
 

 

Arrijan Farming Ltd

(Registration number: 07705874)
Balance Sheet as at 30 April 2024

.........................................
H G Godsell
Director

 

Arrijan Farming Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Leahug Farm
Nupend
Stonehouse
Gloucestershire
GL10 3SU

These financial statements were authorised for issue by the director on 14 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Arrijan Farming Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% on reducing balance

Tractors

25% on reducing balance

Motor vehicles

25% on reducing balance

Office equipment

10% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Arrijan Farming Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Arrijan Farming Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Tractors
£

Motor vehicles
 £

Other tangible assets
 £

Cost or valuation

At 1 May 2023

36,121

60,528

3,478

253,745

Additions

-

-

-

16,220

At 30 April 2024

36,121

60,528

3,478

269,965

Depreciation

At 1 May 2023

-

56,539

3,216

138,688

Charge for the year

-

997

66

13,127

At 30 April 2024

-

57,536

3,282

151,815

Carrying amount

At 30 April 2024

36,121

2,992

196

118,150

At 30 April 2023

36,121

3,989

262

115,057

 

Arrijan Farming Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Total
£

Cost or valuation

At 1 May 2023

353,872

Additions

16,220

At 30 April 2024

370,092

Depreciation

At 1 May 2023

198,443

Charge for the year

14,190

At 30 April 2024

212,633

Carrying amount

At 30 April 2024

157,459

At 30 April 2023

155,429

Included within the net book value of land and buildings above is £36,121 (2023 - £36,121) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

86,990

147,147

6

Debtors

Current

2024
£

2023
£

Trade debtors

-

4,810

Prepayments

734

874

Other debtors

8,808

6,791

 

9,542

12,475

 

Arrijan Farming Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

2,003

7,122

Accruals and deferred income

3,130

4,738

Other creditors

141,649

123,679

146,782

135,539

8

Related party transactions

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

Loan to company

(123,679)

5,839

(23,810)

(141,649)

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Loan to company

(109,320)

11,677

(26,036)

(123,679)