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Company Registration No. 13143490 (England and Wales)
The Fowey Farm Shop Limited Unaudited accounts for the year ended 31 January 2024
The Fowey Farm Shop Limited Unaudited accounts Contents
Page
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The Fowey Farm Shop Limited Company Information for the year ended 31 January 2024
Directors
T J B Varcoe J S Jeffrey
Company Number
13143490 (England and Wales)
Registered Office
Four Turnings Garage Fowey Cornwall PL23 1JU England
Accountants
Mrs R N Pitman Portheras Accounting Ltd Tremarstan Kilhallon Cornwall PL24 2RL
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Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of The Fowey Farm Shop Limited for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Fowey Farm Shop Limited for the year ended 31 January 2024 as set out on pages 5 - 8 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/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of The Fowey Farm Shop Limited, as a body, in accordance with the terms of our engagement letter dated 20 October 2023. Our work has been undertaken solely to prepare for your approval the accounts of The Fowey Farm Shop Limited and state those matters that we have agreed to state to the Board of Directors of The Fowey Farm Shop Limited, 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/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Fowey Farm Shop Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that The Fowey Farm Shop Limited 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 The Fowey Farm Shop Limited. You consider that The Fowey Farm Shop Limited 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 The Fowey Farm Shop Limited. 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.
Mrs R N Pitman Chartered Certified Accountants Portheras Accounting Ltd Tremarstan Kilhallon Cornwall PL24 2RL 30 October 2024
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The Fowey Farm Shop Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
327,943 
369,808 
Tangible assets
846,085 
870,227 
1,174,028 
1,240,035 
Current assets
Inventories
57,370 
84,893 
Debtors
90,460 
74,741 
Cash at bank and in hand
55,852 
17,934 
203,682 
177,568 
Creditors: amounts falling due within one year
(374,335)
(279,440)
Net current liabilities
(170,653)
(101,872)
Total assets less current liabilities
1,003,375 
1,138,163 
Creditors: amounts falling due after more than one year
(528,600)
(546,006)
Net assets
474,775 
592,157 
Capital and reserves
Called up share capital
161 
161 
Share premium
769,937 
769,937 
Profit and loss account
(295,323)
(177,941)
Shareholders' funds
474,775 
592,157 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by
J S Jeffrey Director Company Registration No. 13143490
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The Fowey Farm Shop Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
The Fowey Farm Shop Limited is a private company, limited by shares, registered in England and Wales, registration number 13143490. The registered office is Four Turnings Garage, Fowey, Cornwall, PL23 1JU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Goodwill
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Ammortisation being split over its estimated useful life of 10 years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Fixtures & fittings
20% reducing balance
Computer equipment
20% reducing balance
Other tangible fixed assets
Improvements to Property - 2% on cost
Hire purchase and leasing commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
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The Fowey Farm Shop Limited Notes to the Accounts for the year ended 31 January 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 February 2023
418,650 
At 31 January 2024
418,650 
Amortisation
At 1 February 2023
48,842 
Charge for the year
41,865 
At 31 January 2024
90,707 
Net book value
At 31 January 2024
327,943 
At 31 January 2023
369,808 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 February 2023
736,113 
65,286 
97,141 
3,479 
902,019 
Additions
- 
1,811 
3,680 
- 
5,491 
Disposals
- 
(243)
- 
- 
(243)
At 31 January 2024
736,113 
66,854 
100,821 
3,479 
907,267 
Depreciation
At 1 February 2023
1,282 
10,624 
19,356 
530 
31,792 
Charge for the year
1,282 
11,225 
16,293 
590 
29,390 
At 31 January 2024
2,564 
21,849 
35,649 
1,120 
61,182 
Net book value
At 31 January 2024
733,549 
45,005 
65,172 
2,359 
846,085 
At 31 January 2023
734,831 
54,662 
77,785 
2,949 
870,227 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
13,185 
22,770 
Other debtors
77,275 
51,971 
90,460 
74,741 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
141,872 
106,572 
Taxes and social security
1,481 
14,829 
Loans from directors
228,654 
151,988 
Accruals
2,328 
6,051 
374,335 
279,440 
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The Fowey Farm Shop Limited Notes to the Accounts for the year ended 31 January 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
464,055 
464,055 
Other creditors
64,545 
81,951 
528,600 
546,006 
Loans are as follows: Certas - Payable by 2026 - balance £64545 Together Money Loan - payable by 2031 - balance £464055 - This loan is secured on the assets of the company
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
3,940 Ordinary shares of £0.01 each
39.40 
39.40 
6,060 Convertible ordinary shares of £0.01 each
60.60 
60.60 
6,060 Redeemable preference of £0.01 each
60.60 
60.60 
160.60 
160.60 
10
Average number of employees
During the year the average number of employees was 7 (2023: 7).
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