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REGISTERED NUMBER: 14694530 (England and Wales)















Up Marden Farms Limited

Financial Statements

for the Period 28th February 2023 to 31st March 2024






Up Marden Farms Limited (Registered number: 14694530)

Contents of the Financial Statements
for the Period 28th February 2023 to 31st March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Up Marden Farms Limited

Company Information
for the Period 28th February 2023 to 31st March 2024







DIRECTORS: P G Huxham
A W Huxham





REGISTERED OFFICE: 7 East Pallant
Chichester
West Sussex
PO19 1TR





REGISTERED NUMBER: 14694530 (England and Wales)





ACCOUNTANTS: Sheen Stickland
Chartered Accountants
7 East Pallant
Chichester
West Sussex
PO19 1TR

Up Marden Farms Limited (Registered number: 14694530)

Balance Sheet
31st March 2024

Notes £    £   
FIXED ASSETS
Intangible assets 4 1,025,996
Tangible assets 5 410,586
1,436,582

CURRENT ASSETS
Stocks 452,641
Debtors 6 103,629
556,270
CREDITORS
Amounts falling due within one year 7 882,153
NET CURRENT LIABILITIES (325,883 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,110,699

CREDITORS
Amounts falling due after more than one
year

8

963,099
NET ASSETS 147,600

CAPITAL AND RESERVES
Called up share capital 9 100
Retained earnings 10 147,500
SHAREHOLDERS' FUNDS 147,600

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st 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.

Up Marden Farms Limited (Registered number: 14694530)

Balance Sheet - continued
31st 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 Board of Directors and authorised for issue on 21st November 2024 and were signed on its behalf by:




A W Huxham - Director



P G Huxham - Director


Up Marden Farms Limited (Registered number: 14694530)

Notes to the Financial Statements
for the Period 28th February 2023 to 31st March 2024


1. STATUTORY INFORMATION

Up Marden Farms 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Implements & Combines - 20% on reducing balance
Tractors - 20% 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 period 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 period 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.

Up Marden Farms Limited (Registered number: 14694530)

Notes to the Financial Statements - continued
for the Period 28th February 2023 to 31st March 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 period was 2 .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 1,025,996
At 31st March 2024 1,025,996
NET BOOK VALUE
At 31st March 2024 1,025,996

On 6 April 2023 the company acquired the trade and certain assets and liabilities of an unincorporated Farming business for a total consideration of £1,198,000 including goodwill as noted above.

5. TANGIBLE FIXED ASSETS
Implements
& Combines Tractors Totals
£    £    £   
COST
Additions 423,358 158,125 581,483
At 31st March 2024 423,358 158,125 581,483
DEPRECIATION
Charge for period 139,272 31,625 170,897
At 31st March 2024 139,272 31,625 170,897
NET BOOK VALUE
At 31st March 2024 284,086 126,500 410,586

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 62,266
Other debtors 100
VAT 12,660
Prepayments and accrued income 28,603
103,629

Up Marden Farms Limited (Registered number: 14694530)

Notes to the Financial Statements - continued
for the Period 28th February 2023 to 31st March 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Bank loans and overdrafts 366,258
Hire purchase contracts 97,942
Trade creditors 36,738
Amounts owed to group undertakings 217,025
Tax 46,954
Social security and other taxes 1,178
Directors' current accounts 112,308
Accruals and deferred income 3,750
882,153

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Hire purchase contracts 163,099
Directors' loan accounts 800,000
963,099

9. CALLED UP SHARE CAPITAL

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

100 Ordinary shares of 1 each were allotted and fully paid for cash at par during the period.

10. RESERVES
Retained
earnings
£   

Profit for the period 147,500
At 31st March 2024 147,500

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Up Marden Farms Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Up Marden Farms Limited for the period ended 31st March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Up Marden Farms Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Up Marden Farms Limited and state those matters that we have agreed to state to the Board of Directors of Up Marden Farms Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Up Marden Farms Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Up Marden Farms Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Up Marden Farms Limited. You consider that Up Marden Farms Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Up Marden Farms Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sheen Stickland
Chartered Accountants
7 East Pallant
Chichester
West Sussex
PO19 1TR


21st November 2024