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REGISTERED NUMBER: 07944716 (England and Wales)















Unaudited Financial Statements For The Year Ended 29 February 2024

for

Merrywood Farm Limited

Merrywood Farm Limited (Registered number: 07944716)

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


Merrywood Farm Limited

Company Information
For The Year Ended 29 February 2024







DIRECTORS: Mrs E Pope
S R Ruby
M Ruby
Mrs B Ruby





REGISTERED OFFICE: Osborne House
143-145 Stanwell Road
Ashford
Middlesex
TW15 3QN





REGISTERED NUMBER: 07944716 (England and Wales)





ACCOUNTANTS: Hunt Ford & Co
Osborne House
143-145 Stanwell Road
Ashford
Middlesex
TW15 3QN

Merrywood Farm Limited (Registered number: 07944716)

Balance Sheet
29 February 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 49,407 61,154

CURRENT ASSETS
Stocks - 2,000
Debtors 5 - 5,400
Cash at bank 10,002 14
10,002 7,414
CREDITORS
Amounts falling due within one year 6 52,214 63,836
NET CURRENT LIABILITIES (42,212 ) (56,422 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,195

4,732

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7 7,095 4,632
SHAREHOLDERS' FUNDS 7,195 4,732

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.

Merrywood Farm Limited (Registered number: 07944716)

Balance Sheet - continued
29 February 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 18 November 2024 and were signed on its behalf by:




S R Ruby - Director M Ruby - Director




Mrs B Ruby - Director M Pope - Director


Merrywood Farm Limited (Registered number: 07944716)

Notes to the Financial Statements
For The Year Ended 29 February 2024


1. STATUTORY INFORMATION

Merrywood Farm 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
The turnover shown in the profit and loss account represents amounts receivable for goods and services provided during the year in the normal course of business, net of trade discounts, VAT and other sales and related taxes.

Fixed assets
All fixed assets are initially recorded at cost.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery - 20% reducing balance
Motor Vehicles - 20% reducing balance
Equipment - 20% 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 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.


Merrywood Farm Limited (Registered number: 07944716)

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 agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Going concern
Whilst the company's balance sheet shows a positive net worth, the company reports net current liabilities of £42,212 (2023 - £56,422). Due to the ongoing support of the directors and shareholders to ensure that liabilities are met as and when they fall due, the company is considered to be a going concern.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classes as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

3. EMPLOYEES AND DIRECTORS

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

Merrywood Farm Limited (Registered number: 07944716)

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


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 191,464
Additions 604
At 29 February 2024 192,068
DEPRECIATION
At 1 March 2023 130,310
Charge for year 12,351
At 29 February 2024 142,661
NET BOOK VALUE
At 29 February 2024 49,407
At 28 February 2023 61,154

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 March 2023
and 29 February 2024 14,495
DEPRECIATION
At 1 March 2023
and 29 February 2024 8,238
NET BOOK VALUE
At 29 February 2024 6,257
At 28 February 2023 6,257

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Prepayments - 5,400

Merrywood Farm Limited (Registered number: 07944716)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans and overdrafts 5,875 9,699
Trade creditors - 414
Tax 8,608 3,350
VAT 2,607 9,932
Amounts due to R A Centres Ltd 13,620 19,036
Directors' current accounts 8,000 -
Directors' loan accounts 11,854 19,755
Accruals and deferred income 1,650 1,650
52,214 63,836

7. RESERVES
Retained
earnings
£   

At 1 March 2023 4,632
Profit for the year 26,463
Dividends (24,000 )
At 29 February 2024 7,095

8. RELATED PARTY DISCLOSURES

The company was under the control of Mr S Ruby throughout the current period. Mr S Ruby is the majority shareholder.

At the balance sheet date Merrywood Farm Ltd owed The RA Centre Ltd, a company in which Mr S Ruby also has a controlling interest £13,620 and this is included in note 7 with other creditors.
( 2023 £19,036 )