Roaming Dairy Limited 11062492 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is raising of dairy cattle. Digita Accounts Production Advanced 6.30.9574.0 true true 11062492 2023-02-01 2024-01-31 11062492 2024-01-31 11062492 core:RetainedEarningsAccumulatedLosses 2024-01-31 11062492 core:ShareCapital 2024-01-31 11062492 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-01-31 11062492 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2024-01-31 11062492 core:CurrentFinancialInstruments 2024-01-31 11062492 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 11062492 core:Non-currentFinancialInstruments 2024-01-31 11062492 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 11062492 core:MotorVehicles 2024-01-31 11062492 core:OtherPropertyPlantEquipment 2024-01-31 11062492 bus:SmallEntities 2023-02-01 2024-01-31 11062492 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 11062492 bus:FullAccounts 2023-02-01 2024-01-31 11062492 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 11062492 bus:RegisteredOffice 2023-02-01 2024-01-31 11062492 bus:Director1 2023-02-01 2024-01-31 11062492 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11062492 core:MotorVehicles 2023-02-01 2024-01-31 11062492 core:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 11062492 core:PlantMachinery 2023-02-01 2024-01-31 11062492 core:UKTax 2023-02-01 2024-01-31 11062492 countries:EnglandWales 2023-02-01 2024-01-31 11062492 2023-01-31 11062492 core:MotorVehicles 2023-01-31 11062492 core:OtherPropertyPlantEquipment 2023-01-31 11062492 2022-02-01 2023-01-31 11062492 2023-01-31 11062492 core:RetainedEarningsAccumulatedLosses 2023-01-31 11062492 core:ShareCapital 2023-01-31 11062492 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-01-31 11062492 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2023-01-31 11062492 core:CurrentFinancialInstruments 2023-01-31 11062492 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 11062492 core:Non-currentFinancialInstruments 2023-01-31 11062492 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 11062492 core:MotorVehicles 2023-01-31 11062492 core:OtherPropertyPlantEquipment 2023-01-31 11062492 core:UKTax 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Roaming Dairy Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 January 2024

Registration number: 11062492

 

Roaming Dairy Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Roaming Dairy Limited

Balance Sheet

31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

259,256

314,606

Biological assets

6

75,215

115,542

 

334,471

430,148

Current assets

 

Stocks

49,933

90,998

Debtors

7

374,652

113,549

Cash at bank and in hand

 

5

31,696

 

424,590

236,243

Creditors: Amounts falling due within one year

8

(295,273)

(199,633)

Net current assets

 

129,317

36,610

Total assets less current liabilities

 

463,788

466,758

Creditors: Amounts falling due after more than one year

8

(39,357)

(78,329)

Provisions for liabilities

(64,571)

(78,185)

Net assets

 

359,860

310,244

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

359,859

310,243

Total equity

 

359,860

310,244

 

Roaming Dairy Limited

Balance Sheet

31 January 2024

For the financial year ending 31 January 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 their 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 30 October 2024
 

.........................................
Mr O Chedgey
Director

Company Registration Number: 11062492

 

Roaming Dairy Limited

Notes to the Unaudited Financial Statements

Year Ended 31 January 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:
Hitchcock House
Hilltop Park
Devizes Road
Salisbury
United Kingdom
SP3 4UF

The principal place of business is:
Plantation Farmhouse
Wolverton
Tadley
Hampshire
RG26 5RJ

These financial statements were authorised for issue by the director on 30 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', including 102 Section 1A and the Companies Act 2006.

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.

 

Roaming Dairy Limited

Notes to the Unaudited Financial Statements

Year Ended 31 January 2024

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future.

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 value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

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.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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:

 

Roaming Dairy Limited

Notes to the Unaudited Financial Statements

Year Ended 31 January 2024

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Herd

10% straight line

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 stocks 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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Roaming Dairy Limited

Notes to the Unaudited Financial Statements

Year Ended 31 January 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2023 - 5).

4

Taxation

Tax charged/(credited) in the profit and loss account

 

Roaming Dairy Limited

Notes to the Unaudited Financial Statements

Year Ended 31 January 2024

2024
 £

2023
 £

Current taxation

UK corporation tax

14,530

26,086

Deferred taxation

Arising from origination and reversal of timing differences

(13,615)

8,358

Tax expense in the income statement

915

34,444

5

Tangible assets

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 February 2023

30,722

516,610

547,332

Additions

-

41,510

41,510

Disposals

-

(21,237)

(21,237)

At 31 January 2024

30,722

536,883

567,605

Depreciation

At 1 February 2023

16,965

215,761

232,726

Charge for the year

3,440

79,934

83,374

Eliminated on disposal

-

(7,751)

(7,751)

At 31 January 2024

20,405

287,944

308,349

Carrying amount

At 31 January 2024

10,317

248,939

259,256

At 31 January 2023

13,757

300,849

314,606

 

Roaming Dairy Limited

Notes to the Unaudited Financial Statements

Year Ended 31 January 2024

6

Biological assets

Dairy herd
£

Biological assets

Cost or valuation

At 1 February 2023

170,328

Additions

17,000

Disposals

(66,269)

At 31 January 2024

121,059

Depreciation

At 1 February 2023

54,786

Charge for year

10,406

Eliminated on disposals

(19,348)

At 31 January 2024

45,844

Carrying amount

At 31 January 2024

75,215

At 31 January 2023

115,542

7

Debtors

2024
£

2023
£

Trade debtors

40,686

74,807

Other debtors

333,966

38,742

374,652

113,549

 

Roaming Dairy Limited

Notes to the Unaudited Financial Statements

Year Ended 31 January 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

66,541

68,703

Trade creditors

 

66,631

56,661

Corporation tax

 

91,400

26,086

Taxation and social security

 

11,331

4,271

Other creditors

 

981

4,881

Accruals and deferred income

 

58,389

39,031

 

295,273

199,633

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

39,357

78,329

9

Loans and borrowings

2024
£

2023
£

Loans and borrowings due after one year

HP and finance lease liabilities

9,262

36,625

Other borrowings

30,095

41,704

39,357

78,329

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,910

20,028

Bank overdrafts

14,823

1,187

Hire purchase contracts

40,808

47,488

66,541

68,703