Company No:
Contents
Note | 31.03.2024 | 30.04.2023 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
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510,829 | 494,250 | |||
Current assets | ||||
Cash at bank and in hand |
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34 | 34 | |||
Creditors: amounts falling due within one year | 4 | (
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Net current liabilities | (55,460) | (55,676) | ||
Total assets less current liabilities | 455,369 | 438,574 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 5 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Naylor Farms Limited (registered number:
Frederick Paul Naylor
Director |
Megan Elizabeth Naylor
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.
Naylor Farms Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Overton Farm, Memsie, Fraserburgh, AB43 7AP, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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 £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have 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.
The financial statements are prepared for a period of 11 months (2023 - 12 months) and therefore prior year amounts presented in the financial statements are not entirely comparable.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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 Company after deducting all of its liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.
Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
Period from 01.05.2023 to 31.03.2024 |
Year ended 30.04.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the period, including directors |
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Other investments | Total | ||
£ | £ | ||
Cost or valuation before impairment | |||
At 01 May 2023 |
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Share of partnership profit |
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Drawings | (6,074) | (6,074) | |
At 31 March 2024 |
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Carrying value at 31 March 2024 |
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Carrying value at 30 April 2023 |
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31.03.2024 | 30.04.2023 | ||
£ | £ | ||
Taxation and social security |
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Other creditors |
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31.03.2024 | 30.04.2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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