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REGISTERED NUMBER: 03606809 (England and Wales)












Financial Statements

for the Year Ended 31 March 2024

for

Golding Farms Limited

Golding Farms Limited (Registered number: 03606809)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Golding Farms Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr W E Golding
Mr M A Golding





REGISTERED OFFICE: C/O Towers + Gornall Ltd
River View, 96 High Street
Garstang
Preston
Lancashire
PR3 1WZ





REGISTERED NUMBER: 03606809 (England and Wales)





ACCOUNTANTS: Towers + Gornall Ltd
Chartered Certified Accountants
River View
96 High Street
Garstang
Preston
Lancashire
PR3 1WZ

Golding Farms Limited (Registered number: 03606809)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,453,793 1,358,050
1,453,793 1,358,050

CURRENT ASSETS
Stocks 101,080 105,969
Debtors 6 130,012 135,463
Cash at bank 1,101,744 702,554
1,332,836 943,986
CREDITORS
Amounts falling due within one year 7 605,447 485,802
NET CURRENT ASSETS 727,389 458,184
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,181,182

1,816,234

PROVISIONS FOR LIABILITIES 353,246 335,475
NET ASSETS 1,827,936 1,480,759

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,826,936 1,479,759
SHAREHOLDERS' FUNDS 1,827,936 1,480,759

Golding Farms Limited (Registered number: 03606809)

Balance Sheet - continued
31 March 2024


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.

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 4 October 2024 and were signed on its behalf by:




Mr W E Golding - Director



Mr M A Golding - Director


Golding Farms Limited (Registered number: 03606809)

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


1. STATUTORY INFORMATION

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

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on reducing balance
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 ' Other financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Golding Farms Limited (Registered number: 03606809)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Single
Payment
Entitlements
£   
COST
At 1 April 2023
and 31 March 2024 8,143
AMORTISATION
At 1 April 2023
and 31 March 2024 8,143
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023 248,553 3,305,341 58,625 3,612,519
Additions - 260,989 37,450 298,439
Disposals - (5,540 ) - (5,540 )
At 31 March 2024 248,553 3,560,790 96,075 3,905,418
DEPRECIATION
At 1 April 2023 217,909 1,990,069 46,491 2,254,469
Charge for year 3,065 195,817 3,814 202,696
Eliminated on disposal - (5,540 ) - (5,540 )
At 31 March 2024 220,974 2,180,346 50,305 2,451,625
NET BOOK VALUE
At 31 March 2024 27,579 1,380,444 45,770 1,453,793
At 31 March 2023 30,644 1,315,272 12,134 1,358,050

Golding Farms Limited (Registered number: 03606809)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 60,163 55,049
Other debtors 69,849 80,414
130,012 135,463

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 331,473 256,330
Taxation and social security 92,192 18,493
Other creditors 181,782 210,979
605,447 485,802

8. RELATED PARTY DISCLOSURES

As at 31 March 2024 the company owed £179,180 to its directors' (2023 £208,543). No interest has been charged to the company in respect of this loan which is repayable on demand and classified in creditors due within one year.