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REGISTERED NUMBER: 07514681 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

4P Agriculture Limited

4P Agriculture Limited (Registered number: 07514681)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


4P Agriculture Limited

Company Information
for the Year Ended 29 February 2024







Directors: Mr. J R Mason
Mrs. S A Mason





Registered office: 6 George Street
Driffield
East Yorkshire
YO25 6RA





Registered number: 07514681 (England and Wales)





Accountants: Ullyott Limited
6 George Street
Driffield
East Yorkshire
YO25 6RA

4P Agriculture Limited (Registered number: 07514681)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 221,590 228,862
221,590 228,862

CURRENT ASSETS
Stocks 44,665 61,240
Debtors 6 3,755 5,905
48,420 67,145
CREDITORS
Amounts falling due within one year 7 44,786 64,141
NET CURRENT ASSETS 3,634 3,004
TOTAL ASSETS LESS CURRENT
LIABILITIES

225,224

231,866

CREDITORS
Amounts falling due after more than one
year

8

(186,666

)

(209,195

)

PROVISIONS FOR LIABILITIES 9 (10,048 ) (11,359 )
NET ASSETS 28,510 11,312

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 28,410 11,212
SHAREHOLDERS' FUNDS 28,510 11,312

4P Agriculture Limited (Registered number: 07514681)

Balance Sheet - continued
29 February 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

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 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 14 November 2024 and were signed on its behalf by:





Mr. J R Mason - Director


4P Agriculture Limited (Registered number: 07514681)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

4P Agriculture 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.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - Straight line over 50 years
Improvements to property - Straight line over 50 years
Plant and machinery - 20% on reducing balance
Tractors - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Equipment - 25% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.


4P Agriculture Limited (Registered number: 07514681)

Notes to the Financial Statements - continued
for the Year Ended 29 February 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2023
and 29 February 2024 5,191
AMORTISATION
At 1 March 2023
and 29 February 2024 5,191
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

4P Agriculture Limited (Registered number: 07514681)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 March 2023 167,094 5,831 80,997
Additions - - 5,876
At 29 February 2024 167,094 5,831 86,873
DEPRECIATION
At 1 March 2023 3,260 585 39,640
Charge for year 266 105 8,420
At 29 February 2024 3,526 690 48,060
NET BOOK VALUE
At 29 February 2024 163,568 5,141 38,813
At 28 February 2023 163,834 5,246 41,357

Motor
Tractors vehicles Equipment Totals
£    £    £    £   
COST
At 1 March 2023 27,233 24,845 1,554 307,554
Additions - - 333 6,209
At 29 February 2024 27,233 24,845 1,887 313,763
DEPRECIATION
At 1 March 2023 13,946 20,264 997 78,692
Charge for year 3,321 1,146 223 13,481
At 29 February 2024 17,267 21,410 1,220 92,173
NET BOOK VALUE
At 29 February 2024 9,966 3,435 667 221,590
At 28 February 2023 13,287 4,581 557 228,862

4P Agriculture Limited (Registered number: 07514681)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
Tractors vehicles Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 14,500 20,550 35,050
DEPRECIATION
At 1 March 2023
and 29 February 2024 8,383 13,145 21,528
NET BOOK VALUE
At 29 February 2024 6,117 7,405 13,522
At 28 February 2023 6,117 7,405 13,522

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,081 2,427
Corporation tax - 3,478
Prepayments and accrued income 1,674 -
3,755 5,905

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 13,489 19,158
Hire purchase contracts 3,150 3,150
Trade creditors 1,326 21,639
Corporation tax 5,901 -
VAT 6,069 2,615
Directors' current accounts 6,399 9,530
Accruals and income in advance 8,452 8,049
44,786 64,141

4P Agriculture Limited (Registered number: 07514681)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 184,828 204,207
Hire purchase contracts 1,838 4,988
186,666 209,195

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 10,048 11,359

Deferred
tax
£   
Balance at 1 March 2023 11,359
Provided during year (1,311 )
Balance at 29 February 2024 10,048

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100