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REGISTERED NUMBER: 05526065 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Frenchbeer Farm Limited

Frenchbeer Farm Limited (Registered number: 05526065)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


Frenchbeer Farm Limited (Registered number: 05526065)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 256,038 252,711
Investments 6 30 30
Investment property 7 242,658 257,696
Herd 8 43,624 44,164
542,350 554,601

CURRENT ASSETS
Stocks 9 60,904 67,728
Debtors 10 30,502 58,093
Prepayments and accrued income 8,881 5,508
Cash at bank 494,679 344,175
594,966 475,504
CREDITORS
Amounts falling due within one year 11 84,825 56,051
NET CURRENT ASSETS 510,141 419,453
TOTAL ASSETS LESS CURRENT LIABILITIES 1,052,491 974,054

CREDITORS
Amounts falling due after more than one year 12 (47,780 ) (53,682 )

PROVISIONS FOR LIABILITIES (21,581 ) (21,386 )
NET ASSETS 983,130 898,986

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 983,128 898,984
SHAREHOLDERS' FUNDS 983,130 898,986

Frenchbeer Farm Limited (Registered number: 05526065)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2024 and were signed on its behalf by:




Mrs C J Malseed - Director Mr J Malseed - Director




Mrs R Dalton - Director


Frenchbeer Farm Limited (Registered number: 05526065)

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


1. STATUTORY INFORMATION

Frenchbeer Farm Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05526065

Registered office: Frenchbeer Farm
Chagford
Newton Abbot
Devon
TQ13 8EX

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 as modified by the revaluation of certain assets.

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 incorporation of the business in the year of incorporation, has been amortised evenly over its estimated useful life of 10 years.

Intangible assets
Intangible assets are initially measured at fair value at transaction date. After initial recognition, intangible assets are measured at fair value less any accumulated amortisation and any accumulated impairment losses.

BPS entitlements fully amortised by 31 December 2020. (over 6 years)

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tenants improvements - 2% on cost
Plant and machinery - 25% on reducing balance, 10% on cost and 7% on cost
Motor vehicles - 25% on reducing balance
Tractors - 25% 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.

Investment property is carried at fair value, derived from the current market prices for comparable real estate, determined annually by the directors. Changes in fair value are recognised in the profit and loss account.

Stocks
Stock is valued at the lower of cost and net realisable value. Home grown produce has been valued in accordance with H M Revenue & Customs guidance HS232.

Frenchbeer Farm Limited (Registered number: 05526065)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
Classification
The company holds the following financial instruments:

Short term debtors and creditors;
Cash and bank balances; and
Unlisted investments.

All financial instruments are classified as basic.

Recognition and measurement
The company has elected to apply the provisions FRS102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transition costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 3 (2023 - 4 ) .

Frenchbeer Farm Limited (Registered number: 05526065)

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


4. INTANGIBLE FIXED ASSETS
BPS
Goodwill Entitlements Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 10,000 45,080 55,080
AMORTISATION
At 1 March 2023
and 29 February 2024 10,000 45,080 55,080
NET BOOK VALUE
At 29 February 2024 - - -
At 28 February 2023 - - -

5. TANGIBLE FIXED ASSETS
Freehold Tenants Plant and
property improvements machinery
£    £    £   
COST
At 1 March 2023 70,817 50,863 324,026
Additions - 7,300 25,579
Disposals - - (6,072 )
At 29 February 2024 70,817 58,163 343,533
DEPRECIATION
At 1 March 2023 - 8,442 197,959
Charge for year - 1,163 29,920
Eliminated on disposal - - (5,696 )
At 29 February 2024 - 9,605 222,183
NET BOOK VALUE
At 29 February 2024 70,817 48,558 121,350
At 28 February 2023 70,817 42,421 126,067

Frenchbeer Farm Limited (Registered number: 05526065)

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


5. TANGIBLE FIXED ASSETS - continued

Motor
vehicles Tractors Totals
£    £    £   
COST
At 1 March 2023 27,675 63,800 537,181
Additions 7,013 - 39,892
Disposals - - (6,072 )
At 29 February 2024 34,688 63,800 571,001
DEPRECIATION
At 1 March 2023 19,651 58,418 284,470
Charge for year 3,760 1,346 36,189
Eliminated on disposal - - (5,696 )
At 29 February 2024 23,411 59,764 314,963
NET BOOK VALUE
At 29 February 2024 11,277 4,036 256,038
At 28 February 2023 8,024 5,382 252,711

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2023
and 29 February 2024 30
NET BOOK VALUE
At 29 February 2024 30
At 28 February 2023 30

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 257,696
Revaluations (15,038 )
At 29 February 2024 242,658
NET BOOK VALUE
At 29 February 2024 242,658
At 28 February 2023 257,696

Frenchbeer Farm Limited (Registered number: 05526065)

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


7. INVESTMENT PROPERTY - continued

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2020 (4,878 )
Valuation in 2021 (1,412 )
Valuation in 2023 20,097
Valuation in 2024 (15,037 )
Cost 243,888
242,658

8. HERD
Biological
asset -
cattle
£   
COST
At 1 March 2023 49,664
Additions 1,205
Disposals (1,177 )
At 29 February 2024 49,692
DEPRECIATION
At 1 March 2023 5,500
Charge for year 745
Eliminated on disposal (177 )
At 29 February 2024 6,068
NET BOOK VALUE
At 29 February 2024 43,624
At 28 February 2023 44,164

9. STOCKS
2024 2023
£    £   
Stocks 60,904 67,728

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 17,261 35,064
Other debtors 13,241 23,029
30,502 58,093

Frenchbeer Farm Limited (Registered number: 05526065)

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


11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 16,642 7,726
Trade creditors 4,382 37,134
Tax 38,917 2,086
Other creditors 19,884 307
Directors' loan accounts - 3,908
Accrued expenses 5,000 4,890
84,825 56,051

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 20,442 23,179
Bank loans more 5 yr by instal 27,338 30,503
47,780 53,682

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 27,338 30,503

13. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 9,828 -
Bank loans 54,594 61,408
64,422 61,408

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 29 February 2024 and the period ended 28 February 2023:

2024 2023
£    £   
Mrs C J Malseed
Balance outstanding at start of year 5,322 (83,667 )
Amounts advanced 3,091 258,988
Amounts repaid (10,130 ) (169,999 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,717 ) 5,322