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REGISTERED NUMBER: 08738118 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

Countrymans Choice Farmshop Limited

Countrymans Choice Farmshop Limited (Registered number: 08738118)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


Countrymans Choice Farmshop Limited

COMPANY INFORMATION
for the year ended 31 March 2024







Director: P Crockett





Secretary: Mrs A Crockett





Registered office: Cadleigh Park
Ivybridge
Devon
PL21 9JL





Registered number: 08738118 (England and Wales)





Accountants: Websters
129 North Hill
Plymouth
Devon
PL4 8JY

Countrymans Choice Farmshop Limited (Registered number: 08738118)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 54,036 32,946

Current assets
Stocks 12,760 14,545
Debtors 5 6,226 937
Cash at bank and in hand 328,917 285,812
347,903 301,294
Creditors
Amounts falling due within one year 6 98,758 88,922
Net current assets 249,145 212,372
Total assets less current liabilities 303,181 245,318

Creditors
Amounts falling due after more than
one year

7

(17,032

)

-

Provisions for liabilities 10 (4,100 ) (3,200 )
Net assets 282,049 242,118

Capital and reserves
Called up share capital 11 100 100
Retained earnings 281,949 242,018
Shareholders' funds 282,049 242,118

Countrymans Choice Farmshop Limited (Registered number: 08738118)

BALANCE SHEET - continued
31 March 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 October 2024 and were signed by:





P Crockett - Director


Countrymans Choice Farmshop Limited (Registered number: 08738118)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Countrymans Choice Farm Shop Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, business address 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 represents amounts receivable in respect of goods, net of any vat and is recognised at the point of sale.

Tangible fixed assets
Depreciation is calculated to write down the cost of tangible fixed assets over their expected useful economic lives using the following rates:

Equipment 15% reducing balance
Motor vehicles 25% straight line over initial lease period

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & 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.

Countrymans Choice Farmshop Limited (Registered number: 08738118)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts, which are those where substainally all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over there useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the capital repayments outstanding. Rentals paid under operating leases are charged to income on a straighline basis over the lease term.

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.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

Countrymans Choice Farmshop Limited (Registered number: 08738118)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Motor
Equipment vehicles Totals
£    £    £   
Cost
At 1 April 2023 31,982 28,281 60,263
Additions 5,333 37,644 42,977
Disposals (8,290 ) (28,281 ) (36,571 )
At 31 March 2024 29,025 37,644 66,669
Depreciation
At 1 April 2023 15,107 12,210 27,317
Charge for year 2,790 4,070 6,860
Eliminated on disposal (5,264 ) (16,280 ) (21,544 )
At 31 March 2024 12,633 - 12,633
Net book value
At 31 March 2024 16,392 37,644 54,036
At 31 March 2023 16,875 16,071 32,946

The net book value of tangible fixed assets includes £37,644 in respect of assets held under hire purchase.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 6,226 937

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts and finance leases (see note 8)
8,516

16,126
Trade creditors 7,146 4,800
Taxation and social security 13,463 16,275
Other creditors 69,633 51,721
98,758 88,922

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Hire purchase contracts and finance leases (see note 8)
17,032

-

Countrymans Choice Farmshop Limited (Registered number: 08738118)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase
contracts
Finance leases
2024 2023 2024 2023
£    £    £    £   
Net obligations repayable:
Within one year 8,516 - - 16,126
Between one and five years 17,032 - - -
25,548 - - 16,126

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Finance leases - 16,126
Hire purchase contracts 25,548 -
25,548 16,126

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 4,100 3,200

Deferred
tax
£   
Balance at 1 April 2023 3,200
Provided during year 900
Balance at 31 March 2024 4,100

11. CALLED UP SHARE CAPITAL

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

Countrymans Choice Farmshop Limited (Registered number: 08738118)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

12. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed the following amounts shown below to related parties:

P Crockett Director and shareholder £32,649
A Crockett Shareholder and wife of director £32,649

Interest of £1,000 each (2023 - £1,000 each) was paid to P Crockett and A Crockett by the company.

13. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by the director, P Crockett, and his wiffe, Mrs A Crockett.