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REGISTERED NUMBER: 07568953 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

FGF (Lincs) Limited

FGF (Lincs) Limited (Registered number: 07568953)






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


FGF (Lincs) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: R W Hazelwood





SECRETARY: Mrs S Hazelwood





REGISTERED OFFICE: Northgate House
Northgate
Sleaford
Lincolnshire
NG34 7BZ





REGISTERED NUMBER: 07568953 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Northgate House
Northgate
Sleaford
Lincolnshire
NG34 7BZ

FGF (Lincs) Limited (Registered number: 07568953)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,348,643 1,374,097
Investment property 6 277,135 277,135
1,625,778 1,651,232

CURRENT ASSETS
Stocks 270,510 290,688
Debtors 7 59,109 26,334
Cash at bank and in hand 1,263 100
330,882 317,122
CREDITORS
Amounts falling due within one year 8 220,931 309,125
NET CURRENT ASSETS 109,951 7,997
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,735,729

1,659,229

CREDITORS
Amounts falling due after more than one
year

9

(745,401

)

(807,830

)

PROVISIONS FOR LIABILITIES (35,344 ) (31,576 )
NET ASSETS 954,984 819,823

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 954,884 819,723
SHAREHOLDERS' FUNDS 954,984 819,823

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 director acknowledges his 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.

FGF (Lincs) Limited (Registered number: 07568953)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 November 2024 and were signed by:





R W Hazelwood - Director


FGF (Lincs) Limited (Registered number: 07568953)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

FGF (Lincs) Limited 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 60% on reducing balance
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stock is valued on basis consistent with that of the previous year by professional valuers in accordance with HS232 Farm Stock Valuation.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

FGF (Lincs) Limited (Registered number: 07568953)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 90,209
AMORTISATION
At 1 April 2023
and 31 March 2024 90,209
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 1,208,507 420,429 1,628,936
Additions - 7,500 7,500
Disposals - (25,480 ) (25,480 )
At 31 March 2024 1,208,507 402,449 1,610,956
DEPRECIATION
At 1 April 2023 1,125 253,714 254,839
Charge for year 500 25,255 25,755
Eliminated on disposal - (18,281 ) (18,281 )
At 31 March 2024 1,625 260,688 262,313
NET BOOK VALUE
At 31 March 2024 1,206,882 141,761 1,348,643
At 31 March 2023 1,207,382 166,715 1,374,097

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 277,135
NET BOOK VALUE
At 31 March 2024 277,135
At 31 March 2023 277,135

FGF (Lincs) Limited (Registered number: 07568953)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 59,108 13,493
Other debtors 1 12,841
59,109 26,334

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 70,130 214,998
Trade creditors 22,975 31,597
Taxation and social security 71,763 35,846
Other creditors 56,063 26,684
220,931 309,125

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 745,401 807,830

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 440,141 497,597

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 3,668 117,370
Bank loans 811,863 905,458
815,531 1,022,828

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 shares 1 100 100

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
R W Hazelwood
Balance outstanding at start of year (4,868 ) 12,366
Amounts advanced 8,809 12,766
Amounts repaid (50,000 ) (30,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (46,059 ) (4,868 )