1 April 2023 false No description of principal activity Taxfiler 2024.5 SC355508business:PrivateLimitedCompanyLtd2023-04-012024-03-31 SC3555082023-03-31 SC3555082023-04-012024-03-31 SC355508business:AuditExempt-NoAccountantsReport2023-04-012024-03-31 SC355508business:AbridgedAccounts2023-04-012024-03-31 SC3555082024-03-31 SC355508business:Director12023-04-012024-03-31 SC355508business:RegisteredOffice2023-04-012024-03-31 SC3555082023-03-31 SC355508core:WithinOneYear2024-03-31 SC355508core:WithinOneYear2023-03-31 SC355508core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 SC355508core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 SC355508core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 SC355508core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 SC355508core:PreviouslyStatedAmount2024-03-31 SC355508core:PreviouslyStatedAmount2023-03-31 SC355508business:SmallEntities2023-04-012024-03-31 SC355508countries:Scotland2023-04-012024-03-31 SC355508core:MotorVehicles2023-04-012024-03-31 SC355508core:FurnitureFittings2023-04-012024-03-31 SC355508core:ComputerEquipment2023-04-012024-03-31 SC355508business:OrdinaryShareClass12023-04-012024-03-31 SC355508business:OrdinaryShareClass12022-04-012023-03-31 SC3555082022-04-012023-03-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. SC355508 (Scotland)
The Farm Environment Limited Unaudited accounts for the year ended 31 March 2024
The Farm Environment Limited Unaudited accounts Contents
Page
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The Farm Environment Limited Company Information for the year ended 31 March 2024
Director
Mr Anthony Charles Seymour
Company Number
SC355508 (Scotland)
Registered Office
27/4 Rosetta Road Peebles EH45 8HJ United Kingdom
Accountants
Virtue Accounting Limited 53 Warwick Street Coventry CV5 6ET
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The Farm Environment Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,594 
1 
Current assets
Debtors
12,070 
37,629 
Cash at bank and in hand
28,034 
23,519 
40,104 
61,148 
Creditors: amounts falling due within one year
(27,684)
(22,894)
Net current assets
12,420 
38,254 
Total assets less current liabilities
14,014 
38,255 
Provisions for liabilities
Deferred tax
- 
(360)
Net assets
14,014 
37,895 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
13,014 
36,895 
Shareholders' funds
14,014 
37,895 
For the year ending 31 March 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 and authorised for issue on 30 October 2024 and were signed on its behalf by
Mr Anthony Charles Seymour Director Company Registration No. SC355508
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The Farm Environment Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
The Farm Environment Limited is a private company, limited by shares, registered in Scotland, registration number SC355508. The registered office is 27/4 Rosetta Road, Peebles, EH45 8HJ, United Kingdom.
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. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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:
Motor vehicles
25% reducing balance
Fixtures & fittings
25% straight line
Computer equipment
33% straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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The Farm Environment Limited Notes to the Accounts for the year ended 31 March 2024
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 April 2023
22,599 
Additions
2,126 
At 31 March 2024
24,725 
Depreciation
At 1 April 2023
22,598 
Charge for the year
533 
At 31 March 2024
23,131 
Net book value
At 31 March 2024
1,594 
At 31 March 2023
1 
5
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000 
1,000 
6
Loans to directors
Movements on directors' loan accounts represent timing differences between amounts owed, and payments made to, directors in respect of expenses, remuneration and dividends. At the reporting date the amount owed by the company to Mr A C Seymour totalled £17,463, representing a £1,500 decrease in the amount outstanding from the previous reporting date balance of £15,963. Interest has not been charged on these balances and no guarantees have been provided by either the company or the directors.
7
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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