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REGISTERED NUMBER: 12450139 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

MALTING FARM LTD

MALTING FARM LTD (REGISTERED NUMBER: 12450139)






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


MALTING FARM LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: W B King
S J King





REGISTERED OFFICE: Old Oaks Farm
Tendring Road
Little Bentley
Colchester
Essex
CO7 8SH





REGISTERED NUMBER: 12450139 (England and Wales)





ACCOUNTANTS: Richard Sexton & Co LLP
3 Manor Road
Colchester
Essex
CO3 3LU

MALTING FARM LTD (REGISTERED NUMBER: 12450139)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,745 16,804

CURRENT ASSETS
Debtors 5 9,148 22,041
Cash at bank and in hand 28,880 23,197
38,028 45,238
CREDITORS
Amounts falling due within one year 6 36,778 37,036
NET CURRENT ASSETS 1,250 8,202
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,995

25,006

CREDITORS
Amounts falling due after more than one
year

7

(12,500

)

(22,500

)

PROVISIONS FOR LIABILITIES (1,400 ) (690 )
NET ASSETS 95 1,816

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 93 1,814
95 1,816

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.

MALTING FARM LTD (REGISTERED NUMBER: 12450139)

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 27 November 2024 and were signed on its behalf by:




S J King - Director



W B King - Director


MALTING FARM LTD (REGISTERED NUMBER: 12450139)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Malting Farm Ltd 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Cabins and treehouses - 25% on reducing balance
Plant and machinery - 25% on reducing balance

Government grants
Government Grants in relation to expenditure are credited when the expenditure is charged to the profit and loss.

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.

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 and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 - 3 ) .

MALTING FARM LTD (REGISTERED NUMBER: 12450139)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Cabins
and Plant and
treehouses machinery Totals
£    £    £   
COST
At 1 March 2023 3,789 26,445 30,234
Additions - 265 265
At 29 February 2024 3,789 26,710 30,499
DEPRECIATION
At 1 March 2023 1,793 11,637 13,430
Charge for year 555 3,769 4,324
At 29 February 2024 2,348 15,406 17,754
NET BOOK VALUE
At 29 February 2024 1,441 11,304 12,745
At 28 February 2023 1,996 14,808 16,804

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by associated partnership - 15,000
Directors' current accounts 3,940 5,448
Prepayments 5,208 1,593
9,148 22,041

The maximum amount outstanding on the directors' current accounts during the year was £34,320. The account was repaid in full after the balance sheet date. Interest was charged at open market rates.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Tax 20 -
Social security and other taxes 3,266 3,845
Income in Advance 18,270 19,492
Accrued expenses 5,222 3,699
36,778 37,036

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bounce Back Loan - 1-2 years 10,000 10,000
Bounce Back Loans - 2-5 years 2,500 12,500
12,500 22,500

MALTING FARM LTD (REGISTERED NUMBER: 12450139)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £4,000 (2023 - £2,000) were paid to the directors .

During the year the company paid rent of £38,000 to W L King and Son, a partnership in which W B King (a director of this company) is a partner. (2023 £31,500).