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REGISTERED NUMBER: 00625420 (England and Wales)












RICHARD SOLARI FARMS LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






RICHARD SOLARI FARMS LTD. (REGISTERED NUMBER: 00625420)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Abridged Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 5


RICHARD SOLARI FARMS LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R Solari
Mrs M Paice





SECRETARY: Mrs J Solari





REGISTERED OFFICE: Heath House Farm
Beckbury
Nr Shifnal
Shropshire
TF11 9DA





REGISTERED NUMBER: 00625420 (England and Wales)





ACCOUNTANTS: Dexter & Sharpe
Chartered Certified Accountants
Rollestone House
20-22 Bridge Street
Horncastle
Lincolnshire
LN9 5HZ

RICHARD SOLARI FARMS LTD. (REGISTERED NUMBER: 00625420)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 2,288,640 1,972,504

CURRENT ASSETS
Inventories 503,393 651,633
Debtors 5 519,608 555,955
Cash in hand 375 375
1,023,376 1,207,963
CREDITORS
Amounts falling due within one year 1,295,736 1,264,729
NET CURRENT LIABILITIES (272,360 ) (56,766 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,016,280

1,915,738

CREDITORS
Amounts falling due after more than one year 6 (735,119 ) (636,427 )

PROVISIONS FOR LIABILITIES (163,115 ) (103,708 )
NET ASSETS 1,118,046 1,175,603

CAPITAL AND RESERVES
Called up share capital 370 370
Revaluation reserve 8,779 8,779
Capital redemption reserve 30 30
Retained earnings 1,108,867 1,166,424
SHAREHOLDERS' FUNDS 1,118,046 1,175,603

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 directors acknowledge their 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.

RICHARD SOLARI FARMS LTD. (REGISTERED NUMBER: 00625420)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by:





R Solari - Director


RICHARD SOLARI FARMS LTD. (REGISTERED NUMBER: 00625420)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Richard Solari Farms Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 10% on cost and 2% on cost
Office equipment - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Motor vehicles - 10% on reducing balance

Land within freehold property is not depreciated.

Inventories
Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Leasing commitments
Assets obtained under hire purchase contracts are capitalised in the balance sheet and depreciated over their estimated useful lives. The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 10 ) .

RICHARD SOLARI FARMS LTD. (REGISTERED NUMBER: 00625420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST
At 1 April 2023 4,752,106
Additions 537,778
Disposals (204,755 )
At 31 March 2024 5,085,129
DEPRECIATION
At 1 April 2023 2,779,602
Charge for year 181,123
Eliminated on disposal (164,236 )
At 31 March 2024 2,796,489
NET BOOK VALUE
At 31 March 2024 2,288,640
At 31 March 2023 1,972,504

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other debtors 394,167 394,167

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans 368,122 382,104

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Aggregate amount 1,528,519 1,246,000

Security is given by way of legal charges and mortgages on the company's freehold property and a fixed and floating charge on the company's assets. Hire purchase contracts are secured on the assets to which they relate.