GJG FARMING LIMITED

Company Registration Number:
11717245 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2024

Period of accounts

Start date: 01 February 2023

End date: 31 January 2024

GJG FARMING LIMITED

Contents of the Financial Statements

for the Period Ended 31 January 2024

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

GJG FARMING LIMITED

Company Information

for the Period Ended 31 January 2024




Director: Graham J Greaves
Registered office: Clifton Grange Farm
36 Worksop Road
Thorpe Salvin
Worksop
England
S80 3JU
Company Registration Number: 11717245 (England and Wales)

GJG FARMING LIMITED

Directors' Report Period Ended 31 January 2024

The directors present their report with the financial statements of the company for the period ended 31 January 2024

Principal Activities

The principal activity of the company is the operation of a farm business, mainly focused on arable crops and grass for animal feed.

Additional information

The director considers that the results for the period and the financial position at the end of the period were satisfactory.

Directors

The directors shown below have held office during the whole of the period from 01 February 2023 to 31 January 2024
Graham J Greaves

This report was approved by the board of directors on 30 November 2024
And Signed On Behalf Of The Board By:

Name: Graham J Greaves
Status: Director

GJG FARMING LIMITED

Profit and Loss Account

for the Period Ended 31 January 2024


Notes

2024
£

2023
£
Turnover 34,261 31,890
Cost of sales ( 37,462 ) ( 19,692 )
Gross Profit or (Loss) ( 3,201 ) 12,198
Administrative Expenses ( 31,113 ) ( 26,464 )
Operating Profit or (Loss) ( 34,314 ) ( 14,266 )
Interest Receivable and Similar Income 1,709 2,215
Profit or (Loss) Before Tax ( 32,605 ) ( 12,051 )
Profit or (Loss) for Period ( 32,605 ) ( 12,051 )

The notes form part of these financial statements

GJG FARMING LIMITED

Balance sheet

As at 31 January 2024


Notes

2024
£

2023
£
Fixed assets
Tangible assets: 4 53,465 73,459
Total fixed assets: 53,465 73,459
Current assets
Stocks: 22,791 28,514
Debtors: 5 35,923 46,639
Cash at bank and in hand: 12,501 31,434
Total current assets: 71,215 106,587
Prepayments and accrued income: 5,598 1,254
Creditors: amounts falling due within one year: 6 ( 144,323 ) ( 164,152 )
Net current assets (liabilities): ( 67,510 ) ( 56,311 )
Total assets less current liabilities: ( 14,045 ) 17,148
Creditors: amounts falling due after more than one year: 7 ( 32,449 ) ( 32,449 )
Accruals and deferred income: ( 2,275 ) ( 863 )
Total net assets (liabilities): ( 48,769 ) ( 16,164 )

The notes form part of these financial statements

GJG FARMING LIMITED

Balance sheet continued

As at 31 January 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 1 1
Profit and loss account: ( 48,770 ) ( 16,165 )
Shareholders funds: ( 48,769 ) ( 16,164 )

For the year ending 31 January 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 30 November 2024
And Signed On Behalf Of The Board By:

Name: Graham J Greaves
Status: Director

The notes form part of these financial statements

GJG FARMING LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 1. Accounting policies

    Basis of measurement and preparation

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

    Turnover policy

    Turnover represents amounts chargeable in respect of sale of goods and services to customers.

    Tangible fixed assets depreciation policy

    Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over the useful economic life as follows;
    Asset class Depreciation method & rate
    Equipment ranging from 10% to 20% straight line
    Office Equipment straight line over 3 years

    Valuation information and policy

    Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

GJG FARMING LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 1 1

GJG FARMING LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 3. Off balance sheet disclosure

    No

GJG FARMING LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Tangible assets

Plant & machinery Office equipment Total
Cost £ £ £
At 01 February 2023 108,920 - 108,920
Additions - 949 949
Disposals - - -
Revaluations - - -
Transfers - - -
At 31 January 2024 108,920 949 109,869
Depreciation
At 01 February 2023 35,461 - 35,461
Charge for year 20,785 158 20,943
On disposals - - -
Other adjustments - - -
At 31 January 2024 56,246 158 56,404
Net book value
At 31 January 2024 52,674 791 53,465
At 31 January 2023 73,459 - 73,459

There are no tangible assets held under finance leases and similar hire purchase contracts.

GJG FARMING LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Debtors


2024
£

2023
£
Other debtors 35,923 46,639
Total 35,923 46,639

GJG FARMING LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

6.Creditors: amounts falling due within one year note


2024
£

2023
£
Trade creditors 1,465 18,360
Other creditors 142,858 145,792
Total 144,323 164,152

GJG FARMING LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

7.Creditors: amounts falling due after more than one year


2024
£

2023
£
Other creditors 32,449 32,449
Total 32,449 32,449