1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,218 1,218 1,218 xbrli:pure xbrli:shares iso4217:GBP 09758922 2023-03-01 2024-02-29 09758922 2024-02-29 09758922 2023-02-28 09758922 2022-03-01 2023-02-28 09758922 2023-02-28 09758922 2022-02-28 09758922 core:PlantMachinery 2023-03-01 2024-02-29 09758922 core:MotorVehicles 2023-03-01 2024-02-29 09758922 bus:Director3 2023-03-01 2024-02-29 09758922 core:LandBuildings core:LongLeaseholdAssets 2023-02-28 09758922 core:PlantMachinery 2023-02-28 09758922 core:MotorVehicles 2023-02-28 09758922 core:LandBuildings core:LongLeaseholdAssets 2024-02-29 09758922 core:PlantMachinery 2024-02-29 09758922 core:MotorVehicles 2024-02-29 09758922 core:LandBuildings core:LongLeaseholdAssets 2023-03-01 2024-02-29 09758922 core:WithinOneYear 2024-02-29 09758922 core:WithinOneYear 2023-02-28 09758922 core:ShareCapital 2024-02-29 09758922 core:ShareCapital 2023-02-28 09758922 core:RetainedEarningsAccumulatedLosses 2024-02-29 09758922 core:RetainedEarningsAccumulatedLosses 2023-02-28 09758922 core:LandBuildings core:LongLeaseholdAssets 2023-02-28 09758922 core:PlantMachinery 2023-02-28 09758922 core:MotorVehicles 2023-02-28 09758922 bus:SmallEntities 2023-03-01 2024-02-29 09758922 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 09758922 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 09758922 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09758922 bus:FullAccounts 2023-03-01 2024-02-29 09758922 core:OfficeEquipment 2023-03-01 2024-02-29 09758922 core:IntangibleAssetsOtherThanGoodwill 2024-02-29 09758922 core:IntangibleAssetsOtherThanGoodwill 2023-02-28 09758922 core:OfficeEquipment 2023-02-28 09758922 core:OfficeEquipment 2024-02-29
COMPANY REGISTRATION NUMBER: 09758922
PAWS FARMING LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
29 February 2024
PAWS FARMING LIMITED
STATEMENT OF FINANCIAL POSITION
29 February 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Intangible assets
5
1,218
1,218
Tangible assets
6
237,645
237,502
---------
---------
238,863
238,720
CURRENT ASSETS
Stocks
77,498
81,784
Debtors
7
5,397
8,435
Cash at bank and in hand
16,192
5,512
--------
--------
99,087
95,731
CREDITORS: amounts falling due within one year
8
642,411
604,752
---------
---------
NET CURRENT LIABILITIES
543,324
509,021
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 304,461)
( 270,301)
---------
---------
NET LIABILITIES
( 304,461)
( 270,301)
---------
---------
PAWS FARMING LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
29 February 2024
2024
2023
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
( 304,561)
( 270,401)
---------
---------
SHAREHOLDERS DEFICIT
( 304,461)
( 270,301)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 6 November 2024 , and are signed on behalf of the board by:
Mrs S Grew
Director
Company registration number: 09758922
PAWS FARMING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 29 FEBRUARY 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Rawdon House, Rawdon Terrace, Ashby de la Zouch, Leicestershire, LE65 2GN. The business operates from High Lees Farm, 388 Bradgate Road, Newtown Linford, Leicestershire, LE6 OHA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Leasehold property
Leasehold property consists of buildings constructed on land leased, rent free, from the estate of Mr P Betts.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
Amortised straight line over 25 years
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Intangible assets
Basic payment entitlement
£
Cost
At 1 March 2023 and 29 February 2024
1,218
-------
Amortisation
At 1 March 2023 and 29 February 2024
-------
Carrying amount
At 29 February 2024
1,218
-------
At 28 February 2023
1,218
-------
6. Tangible assets
Leasehold property
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 March 2023
258,777
192,027
1,941
496
453,241
Additions
4,738
26,500
31,238
Disposals
( 1,941)
( 1,941)
---------
---------
--------
----
---------
At 29 February 2024
258,777
196,765
26,500
496
482,538
---------
---------
--------
----
---------
Depreciation
At 1 March 2023
72,365
141,477
1,725
172
215,739
Charge for the year
10,351
13,822
6,625
81
30,879
Disposals
( 1,725)
( 1,725)
---------
---------
--------
----
---------
At 29 February 2024
82,716
155,299
6,625
253
244,893
---------
---------
--------
----
---------
Carrying amount
At 29 February 2024
176,061
41,466
19,875
243
237,645
---------
---------
--------
----
---------
At 28 February 2023
186,412
50,550
216
324
237,502
---------
---------
--------
----
---------
7. Debtors
2024
2023
£
£
Other debtors
5,397
8,435
-------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,776
2,193
Social security and other taxes
2
Other creditors
640,635
602,557
---------
---------
642,411
604,752
---------
---------