0 31/03/2024 2024-03-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-04-01 Sage Accounts Production 23.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 08522616 2023-04-01 2024-03-31 08522616 2024-03-31 08522616 2023-03-31 08522616 2022-04-01 2023-03-31 08522616 2023-03-31 08522616 2022-03-31 08522616 bus:Director1 2023-04-01 2024-03-31 08522616 core:PlantMachinery 2023-03-31 08522616 core:PlantMachinery 2024-03-31 08522616 core:WithinOneYear 2024-03-31 08522616 core:WithinOneYear 2023-03-31 08522616 core:AfterOneYear 2024-03-31 08522616 core:AfterOneYear 2023-03-31 08522616 core:PlantMachinery 2023-04-01 2024-03-31 08522616 core:ShareCapital 2024-03-31 08522616 core:ShareCapital 2023-03-31 08522616 core:RetainedEarningsAccumulatedLosses 2024-03-31 08522616 core:RetainedEarningsAccumulatedLosses 2023-03-31 08522616 core:PlantMachinery 2023-03-31 08522616 bus:SmallEntities 2023-04-01 2024-03-31 08522616 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08522616 bus:FullAccounts 2023-04-01 2024-03-31 08522616 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08522616 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08522616 core:OtherPropertyPlantEquipment 2023-03-31 08522616 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 08522616 core:OtherPropertyPlantEquipment 2024-03-31 08522616 1 2023-04-01 2024-03-31
Company registration number: 08522616
BURDETT FARMING LIMITED
FINANCIAL STATEMENTS
31 March 2024
BURDETT FARMING LIMITED
STATEMENT OF FINANCIAL POSITION
31 MARCH 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 429,090 455,384
_______ _______
429,090 455,384
Current assets
Stocks 180,974 179,000
Debtors 6 77,761 64,109
_______ _______
258,735 243,109
Creditors: amounts falling due
within one year 7 ( 113,584) ( 125,993)
_______ _______
Net current assets 145,151 117,116
_______ _______
Total assets less current liabilities 574,241 572,500
Creditors: amounts falling due
after more than one year 8 ( 166,634) ( 196,320)
_______ _______
Net assets 407,607 376,180
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 407,606 376,179
_______ _______
Shareholders funds 407,607 376,180
_______ _______
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.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 October 2024 , and are signed on behalf of the board by:
Mr D Burdett
Director
Company registration number: 08522616
BURDETT FARMING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Burdett Farming Limited, c/o Christopher Young Limited, 1a The Martlets, Burgess Hill, West Sussex, RH15 9NN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets .
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: 7 ).
5. Tangible assets
Plant and machinery Dairy herd Total
£ £ £
Cost
At 1 April 2023 196,468 374,650 571,118
Additions 2,718 - 2,718
Disposals ( 4,000) ( 7,200) ( 11,200)
_______ _______ _______
At 31 March 2024 195,186 367,450 562,636
_______ _______ _______
Depreciation
At 1 April 2023 115,734 - 115,734
Charge for the year 20,546 - 20,546
Disposals ( 2,734) - ( 2,734)
_______ _______ _______
At 31 March 2024 133,546 - 133,546
_______ _______ _______
Carrying amount
At 31 March 2024 61,640 367,450 429,090
_______ _______ _______
At 31 March 2023 80,734 374,650 455,384
_______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 77,761 63,322
Other debtors - 787
_______ _______
77,761 64,109
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 30,770 56,626
Trade creditors 7,007 4,444
Corporation tax 25,011 12,022
Social security and other taxes 22,413 21,593
Other creditors 28,383 31,308
_______ _______
113,584 125,993
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 158,991 178,056
Other creditors 7,643 18,264
_______ _______
166,634 196,320
_______ _______
9. Controlling party
The company is controlled by its sole shareholder Mr Daniel Burdett