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REGISTERED NUMBER: 00531079 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MERRIS BROS (FARMERS) LIMITED

MERRIS BROS (FARMERS) LIMITED (REGISTERED NUMBER: 00531079)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MERRIS BROS (FARMERS) LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTOR: W R Merris





SECRETARY: Magma Nominees Limited





REGISTERED OFFICE: Magma House
16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ





REGISTERED NUMBER: 00531079 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
16 Davy Court
Castle Mound Way
Rugby, CV23 0UZ
Magma Audit LLP is part
Of the Dains Group

MERRIS BROS (FARMERS) LIMITED (REGISTERED NUMBER: 00531079)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 194,698 192,456
Investments 5 19,270 19,270
213,968 211,726

CURRENT ASSETS
Stocks 84,018 116,728
Debtors 6 25,901 15,540
Cash at bank and in hand 81,025 101,005
190,944 233,273
CREDITORS
Amounts falling due within one year 7 (170,867 ) (166,792 )
NET CURRENT ASSETS 20,077 66,481
TOTAL ASSETS LESS CURRENT
LIABILITIES

234,045

278,207

CAPITAL AND RESERVES
Called up share capital 13,000 13,000
Retained earnings 221,045 265,207
234,045 278,207

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 director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 October 2024 and were signed by:





W R Merris - Director


MERRIS BROS (FARMERS) LIMITED (REGISTERED NUMBER: 00531079)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Merris Bros (Farmers) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 00531079 and its registered office is Magma House, 16 Davy Court, Castle Mound Way, Rugby, Warwickshire, CV23 0UZ.

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.

The presentational currency of the financial statements is Sterling(£) and figures are rounded to the nearest £1.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Sale of crops and livestock are recognised when the crops and livestock have been sold to the customer, the revenue can be measured reliably and collection is probable.

Farm subsidies and other income is recognised in the period they fall due.

Fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives as indicated below.


Plant and Machinery- 25% on reducing balance
Fixtures and Fittings- 15% on reducing balance
Freehold property held at cost and not depreciated.


The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with carrying amount and are recognised in profit or loss.

Fixed asset investments
Other investments are held at cost and reviewed annually for impairment.

Stocks
Stocks have been stated at a professional valuation, carried out in accordance with BEN 19.


MERRIS BROS (FARMERS) LIMITED (REGISTERED NUMBER: 00531079)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed at the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered
against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Financial instruments
(i) Financial assets

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 rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors 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 payments discounted at a market rate of interest.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 April 2023 97,064 327,669 69,482 494,215
Additions - 30,346 - 30,346
Disposals - (74,576 ) - (74,576 )
At 31 March 2024 97,064 283,439 69,482 449,985
DEPRECIATION
At 1 April 2023 - 232,445 69,314 301,759
Charge for year - 28,070 25 28,095
Eliminated on disposal - (74,567 ) - (74,567 )
At 31 March 2024 - 185,948 69,339 255,287
NET BOOK VALUE
At 31 March 2024 97,064 97,491 143 194,698
At 31 March 2023 97,064 95,224 168 192,456

MERRIS BROS (FARMERS) LIMITED (REGISTERED NUMBER: 00531079)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 19,270
NET BOOK VALUE
At 31 March 2024 19,270
At 31 March 2023 19,270

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 25,901 15,540

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security - 4,912
Other creditors 170,867 161,880
170,867 166,792