IRIS Accounts Production v24.3.0.553 03306291 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh033062912023-02-28033062912024-02-29033062912023-03-012024-02-29033062912022-02-28033062912022-03-012023-02-28033062912023-02-2803306291ns15:EnglandWales2023-03-012024-02-2903306291ns14:PoundSterling2023-03-012024-02-2903306291ns10:Director12023-03-012024-02-2903306291ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2903306291ns10:SmallEntities2023-03-012024-02-2903306291ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2903306291ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2903306291ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2903306291ns10:AbridgedAccounts2023-03-012024-02-2903306291ns10:Director22023-03-012024-02-2903306291ns10:CompanySecretary12023-03-012024-02-2903306291ns10:RegisteredOffice2023-03-012024-02-2903306291ns5:CurrentFinancialInstruments2024-02-2903306291ns5:CurrentFinancialInstruments2023-02-2803306291ns5:Non-currentFinancialInstruments2024-02-2903306291ns5:Non-currentFinancialInstruments2023-02-2803306291ns5:ShareCapital2024-02-2903306291ns5:ShareCapital2023-02-2803306291ns5:SharePremium2024-02-2903306291ns5:SharePremium2023-02-2803306291ns5:RetainedEarningsAccumulatedLosses2024-02-2903306291ns5:RetainedEarningsAccumulatedLosses2023-02-2803306291ns5:LeaseholdImprovements2023-03-012024-02-2903306291ns5:PlantMachinery2023-03-012024-02-2903306291ns5:MotorVehicles2023-03-012024-02-2903306291ns5:Secured2024-02-2903306291ns5:Secured2023-02-28
REGISTERED NUMBER: 03306291 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

CASELY FARMS LIMITED

CASELY FARMS LIMITED (REGISTERED NUMBER: 03306291)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


CASELY FARMS LIMITED

COMPANY INFORMATION
for the Year Ended 29 February 2024







DIRECTORS: S L Casely
Mrs T M Casely





SECRETARY: Mrs T M Casely





REGISTERED OFFICE: Gore Farm
Trent
Sherborne
Dorset
DT9 4SJ





REGISTERED NUMBER: 03306291 (England and Wales)





ACCOUNTANTS: Evans & Co
Manchester House
High Street
Stalbridge
Sturminster Newton
Dorset
DT10 2LL

CASELY FARMS LIMITED (REGISTERED NUMBER: 03306291)

ABRIDGED BALANCE SHEET
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 5 118,186 55,467

CURRENT ASSETS
Inventories 231,053 212,477
Debtors 22,635 21,242
Cash at bank 102 101
253,790 233,820
CREDITORS
Amounts falling due within one year 122,835 89,587
NET CURRENT ASSETS 130,955 144,233
TOTAL ASSETS LESS CURRENT
LIABILITIES

249,141

199,700

CREDITORS
Amounts falling due after more than one
year

(133,131

)

(95,652

)

PROVISIONS FOR LIABILITIES - (2,145 )
NET ASSETS 116,010 101,903

CAPITAL AND RESERVES
Called up share capital 702 702
Share premium 69,300 69,300
Retained earnings 46,008 31,901
SHAREHOLDERS' FUNDS 116,010 101,903

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.

CASELY FARMS LIMITED (REGISTERED NUMBER: 03306291)

ABRIDGED 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 1 November 2024 and were signed on its behalf by:





S L Casely - Director


CASELY FARMS LIMITED (REGISTERED NUMBER: 03306291)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Casely Farms 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Revenue 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.
Improvements to property - not provided
Plant and machinery - 15% on reducing balance
Motor vehicles - 15% on reducing balance

Stocks
Livestock and living plants are valued at cost and estimated selling price, less costs to sell. Other stocks are also valued at the lower of cost and estimated selling price, less costs to sell.

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.

CASELY FARMS LIMITED (REGISTERED NUMBER: 03306291)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST
At 1 March 2023 588,813
Additions 86,580
Disposals (57,495 )
At 29 February 2024 617,898
DEPRECIATION
At 1 March 2023 533,346
Charge for year 4,383
Eliminated on disposal (38,017 )
At 29 February 2024 499,712
NET BOOK VALUE
At 29 February 2024 118,186
At 28 February 2023 55,467

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 53,286 -
Bank loans 96,581 -
Hire purchase contracts 52,956 -
202,823 -

The directors have provided security to the company's bankers by way of a mortgage over freehold property owned by them.

Hire purchase liabilities are secured on the assts to which they relate

CASELY FARMS LIMITED (REGISTERED NUMBER: 03306291)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

7. RELATED PARTY DISCLOSURES

The company operates from farmland and buildings own by the Directors. No rent is paid to the directors for the use of the property.