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Company No: 08915409 (England and Wales)

ZELAH LANE FARM LIMITED

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

ZELAH LANE FARM LIMITED

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

ZELAH LANE FARM LIMITED

BALANCE SHEET

As at 29 February 2024
ZELAH LANE FARM LIMITED

BALANCE SHEET (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 63,110 61,694
63,110 61,694
Current assets
Stocks 44,950 32,620
Debtors 4 2,633 1,862
Cash at bank and in hand 0 5,250
47,583 39,732
Creditors: amounts falling due within one year 5 ( 148,850) ( 146,653)
Net current liabilities (101,267) (106,921)
Total assets less current liabilities (38,157) (45,227)
Net liabilities ( 38,157) ( 45,227)
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account ( 38,257 ) ( 45,327 )
Total shareholder's deficit ( 38,157) ( 45,227)

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Zelah Lane Farm Limited (registered number: 08915409) were approved and authorised for issue by the Director on 27 November 2024. They were signed on its behalf by:

Mr O Hicks
Director
ZELAH LANE FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
ZELAH LANE FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Zelah Lane Farm Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Zelah Lane, Zelah, TR4 9HR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of livestock in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Land and buildings 25 years straight line
Plant and machinery 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Land and buildings Plant and machinery Total
£ £ £
Cost
At 01 March 2023 72,351 42,147 114,498
Additions 0 7,549 7,549
At 29 February 2024 72,351 49,696 122,047
Accumulated depreciation
At 01 March 2023 23,162 29,642 52,804
Charge for the financial year 2,894 3,239 6,133
At 29 February 2024 26,056 32,881 58,937
Net book value
At 29 February 2024 46,295 16,815 63,110
At 28 February 2023 49,189 12,505 61,694

4. Debtors

2024 2023
£ £
Trade debtors 1,235 0
Other debtors 1,398 1,862
2,633 1,862

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 6,517 5,333
Other creditors 142,333 141,320
148,850 146,653

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100