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REGISTERED NUMBER: 10578468 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MIDDLEHOWE FARMS LTD

MIDDLEHOWE FARMS LTD (REGISTERED NUMBER: 10578468)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MIDDLEHOWE FARMS LTD

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: Mrs S Dearing
J Dearing





SECRETARY: Mrs S Dearing





REGISTERED OFFICE: Westfield Farm
Walkington
Beverley
HU17 8TD





REGISTERED NUMBER: 10578468 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

MIDDLEHOWE FARMS LTD (REGISTERED NUMBER: 10578468)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,358 1,672

CURRENT ASSETS
Stocks 62,111 1,520
Debtors 5 58,433 113,665
Cash at bank 44,916 97,212
165,460 212,397
CREDITORS
Amounts falling due within one year 6 13,316 42,999
NET CURRENT ASSETS 152,144 169,398
TOTAL ASSETS LESS CURRENT
LIABILITIES

153,502

171,070

CREDITORS
Amounts falling due after more than one year 7 (15,661 ) (25,780 )

PROVISIONS FOR LIABILITIES (339 ) (418 )
NET ASSETS 137,502 144,872

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 136,502 143,872
137,502 144,872

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.

MIDDLEHOWE FARMS LTD (REGISTERED NUMBER: 10578468)

BALANCE SHEET - 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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2024 and were signed on its behalf by:





Mrs S Dearing - Director


MIDDLEHOWE FARMS LTD (REGISTERED NUMBER: 10578468)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Middlehowe Farms Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at Westfield Farm, Walkington, Beverley HU17 8TD.

The principal activity of the company is egg producers.

The presentational currency of the financial statements is Pound Sterling (£).

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 10% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost 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. Stock is calculated on the first in first out basis.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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 balance sheet date.


MIDDLEHOWE FARMS LTD (REGISTERED NUMBER: 10578468)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 2,444 705 3,149
DEPRECIATION
At 1 April 2023 1,069 408 1,477
Charge for year 244 70 314
At 31 March 2024 1,313 478 1,791
NET BOOK VALUE
At 31 March 2024 1,131 227 1,358
At 31 March 2023 1,375 297 1,672

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 24,259 13,108
Amounts owed by group undertakings 14,207 99,846
VAT 19,967 84
Prepayments and accrued income - 627
58,433 113,665

MIDDLEHOWE FARMS LTD (REGISTERED NUMBER: 10578468)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,119 9,870
Trade creditors - 17,732
Tax - 12,929
Social security and other taxes 834 218
Accrued expenses 2,363 2,250
13,316 42,999

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,375 10,119
Bank loans - 2-5 years 5,286 15,661
15,661 25,780

The amounts relate to a government backed Bounce Back Loan.