SOUL FARM PRODUCE CIC

Company Registration Number:
13018295 (England and Wales)

Unaudited statutory accounts for the year ended 3 November 2023

Period of accounts

Start date: 1 December 2022

End date: 3 November 2023

SOUL FARM PRODUCE CIC

Contents of the Financial Statements

for the Period Ended 3 November 2023

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

SOUL FARM PRODUCE CIC

Balance sheet

As at 3 November 2023

Notes 11 months to 3 November 2023 2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 8,067 9,075
Tangible assets: 4 48,355 13,005
Investments:   0 0
Total fixed assets: 56,422 22,080
Current assets
Stocks: 5 25,000 26,124
Debtors: 6 5,663 4,852
Cash at bank and in hand: 10,177 12,604
Investments:   0 0
Total current assets: 40,840 43,580
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 7 ( 64,693 ) ( 32,020 )
Net current assets (liabilities): (23,853) 11,560
Total assets less current liabilities: 32,569 33,640
Creditors: amounts falling due after more than one year: 8 ( 49,851 ) ( 29,625 )
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): (17,282) 4,015
Capital and reserves
Called up share capital: 220 210
Share premium account: 44,954 34,964
Profit and loss account: (62,456 ) (31,159 )
Total Shareholders' funds: ( 17,282 ) 4,015

The notes form part of these financial statements

SOUL FARM PRODUCE CIC

Balance sheet statements

For the year ending 3 November 2023 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 15 November 2024
and signed on behalf of the board by:

Name: Laurence Jarrett-Kerr
Status: Director

The notes form part of these financial statements

SOUL FARM PRODUCE CIC

Notes to the Financial Statements

for the Period Ended 3 November 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and VAT. Turnover includes revenue earned from the sale of goods and from the rendering of services.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is calculated to write off the cost of the fixed assets, less their estimated residual value, over the expected useful lives on the following bases: Plant and Machinery - 25% Motor Vehicles - 16.67% Computer Equipment - 25%

    Intangible fixed assets amortisation policy

    Intangible assets are amortised to the profit and loss account over its estimated economic life of 10 years

    Other accounting policies

    Leasing and Hire Purchase Contracts Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred. 2.6. Stocks and Work in Progress Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

SOUL FARM PRODUCE CIC

Notes to the Financial Statements

for the Period Ended 3 November 2023

  • 2. Employees

    11 months to 3 November 2023 2022
    Average number of employees during the period 6 5

SOUL FARM PRODUCE CIC

Notes to the Financial Statements

for the Period Ended 3 November 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 December 2022 11,000 11,000
Additions
Disposals
Revaluations
Transfers
At 3 November 2023 11,000 11,000
Amortisation
At 1 December 2022 1,925 1,925
Charge for year 1,008 1,008
On disposals
Other adjustments
At 3 November 2023 2,933 2,933
Net book value
At 3 November 2023 8,067 8,067
At 30 November 2022 9,075 9,075

SOUL FARM PRODUCE CIC

Notes to the Financial Statements

for the Period Ended 3 November 2023

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 December 2022 0 18,710 0 2,053 0 20,763
Additions 0 11,284 0 105 29,906 41,295
Disposals 0 0 0 0 0 0
Revaluations 0 0 0 0 0 0
Transfers
At 3 November 2023 0 29,994 0 2,158 29,906 62,058
Depreciation
At 1 December 2022 0 7,266 0 492 0 7,758
Charge for year 0 4,460 0 461 1,024 5,945
On disposals
Other adjustments
At 3 November 2023 0 11,726 0 953 1,024 13,703
Net book value
At 3 November 2023 0 18,268 0 1,205 28,882 48,355
At 30 November 2022 0 11,444 0 1,561 0 13,005

SOUL FARM PRODUCE CIC

Notes to the Financial Statements

for the Period Ended 3 November 2023

5. Stocks

11 months to 3 November 2023 2022
£ £
Stocks 25,000 26,124
Total 25,000 26,124

SOUL FARM PRODUCE CIC

Notes to the Financial Statements

for the Period Ended 3 November 2023

6. Debtors

11 months to 3 November 2023 2022
£ £
Trade debtors 2,980 1,541
Prepayments and accrued income 0 0
Other debtors 2,683 3,311
Total 5,663 4,852

SOUL FARM PRODUCE CIC

Notes to the Financial Statements

for the Period Ended 3 November 2023

7. Creditors: amounts falling due within one year note

11 months to 3 November 2023 2022
£ £
Bank loans and overdrafts 17,725 8,222
Amounts due under finance leases and hire purchase contracts 5,406 0
Trade creditors 21,360 7,297
Taxation and social security 2,347 2,556
Other creditors 17,855 13,945
Total 64,693 32,020

The amounts put under bank loans are not actually bank loans - in the accounts they are shown under other loans,

SOUL FARM PRODUCE CIC

Notes to the Financial Statements

for the Period Ended 3 November 2023

8. Creditors: amounts falling due after more than one year note

11 months to 3 November 2023 2022
£ £
Bank loans and overdrafts 22,441 29,625
Amounts due under finance leases and hire purchase contracts 27,410
Total 49,851 29,625

The amounts put under bank loans are not actually bank loans - in the accounts they are shown under other loans,

COMMUNITY INTEREST ANNUAL REPORT

SOUL FARM PRODUCE CIC

Company Number: 13018295 (England and Wales)

Year Ending: 3 November 2023

Company activities and impact

Soul Farm Produce CIC is a food justice-oriented, ecologically supportive organisation. We cultivate vegetables agroecologically and using no dig methods. We are a Community Supported Agriculture tarry, meaning the community commits to supporting us by buying veg boxes through their membership. They commit to supporting us by taking the 'share of the harvest' meaning they get bounty when their is abundance and they support us in lean times. They share the risk. We also supported the community through providing subsidised veg boxes and free veg boxes for those in need. We also have a farmers market stand, supporting over 150 households a week with fresh organic veg.

Consultation with stakeholders

Laurence Jarrett-Kerr MD, Director and person of significant control (married to Adele) Adele Jarrett-Kerr Director and community lead (married to Laurence) Ian Brydon - Farm Manager and Director Jan Trefusis - Chair Alice Marston - Community Director We consult with our directors quarterly. We have an annual finance review and objective setting consultation

Directors' remuneration

The total amount paid or receivable by directors in respect of qualifying services was £60,635 There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
14 November 2024

And signed on behalf of the board by:
Name: Laurence Jarrett-Kerr
Status: Director