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Registered number: 02086267
Natural Farms Limited
Financial Statements
For The Year Ended 30 September 2024
Olive Pine Accountancy Ltd
MAAT
55 Western Road
Bexhill On Sea
East Sussex
TN40 1DT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02086267
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 118,991 99,183
118,991 99,183
CURRENT ASSETS
Stocks 5 99,251 82,723
Debtors 6 799,765 701,198
Cash at bank and in hand 9,375 396
908,391 784,317
Creditors: Amounts Falling Due Within One Year 7 (629,419 ) (596,647 )
NET CURRENT ASSETS (LIABILITIES) 278,972 187,670
TOTAL ASSETS LESS CURRENT LIABILITIES 397,963 286,853
Creditors: Amounts Falling Due After More Than One Year 8 (86,560 ) (120,930 )
NET ASSETS 311,403 165,923
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 311,303 165,823
SHAREHOLDERS' FUNDS 311,403 165,923
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For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Edmund Middleton
Director
01/11/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Natural Farms Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02086267 . The registered office is Ockham Dagg Lane, Ewhurst Green, Robertsbridge, East Sussex, TN32 5RD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 23 (2023: 18)
23 18
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 October 2023 41,004 140,535 4,030 185,569
Additions 6,250 64,465 - 70,715
Disposals - (64,240 ) - (64,240 )
As at 30 September 2024 47,254 140,760 4,030 192,044
Depreciation
As at 1 October 2023 26,758 57,676 1,952 86,386
Provided during the period 2,953 15,497 412 18,862
Disposals - (32,195 ) - (32,195 )
As at 30 September 2024 29,711 40,978 2,364 73,053
Net Book Value
As at 30 September 2024 17,543 99,782 1,666 118,991
As at 1 October 2023 14,246 82,859 2,078 99,183
5. Stocks
2024 2023
£ £
Stock 99,251 82,723
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 385,486 403,584
Other debtors 410,348 294,912
VAT 3,931 2,702
799,765 701,198
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 57,272 38,664
Trade creditors 331,439 350,710
Bank loans and overdrafts 19,000 30,711
Corporation tax 37,778 -
Other taxes and social security 62,309 62,514
Net wages - 917
Other creditors 121,621 113,131
629,419 596,647
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 74,524 70,719
Bank loans 11,084 30,083
Directors loan account 952 20,128
86,560 120,930
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 57,272 38,664
Later than one year and not later than five years 74,524 70,719
131,796 109,383
131,796 109,383
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Ultimate Controlling Party
The company's ultimate controlling party is Natural Fresh Foods Ltd by virtue of his ownership of 100% of the issued share capital in the company.
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