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REGISTERED NUMBER: 00875363















A. FORSYTH(FARMWORK)LIMITED

FINANCIAL STATEMENTS FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024






A. FORSYTH(FARMWORK)LIMITED (REGISTERED NUMBER: 00875363)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


A. FORSYTH(FARMWORK)LIMITED (REGISTERED NUMBER: 00875363)

BALANCE SHEET
31 MARCH 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,520,270 2,275,526

CURRENT ASSETS
Stocks 448,731 713,588
Debtors 5 1,725,654 888,053
Cash at bank 187,558 920,080
2,361,943 2,521,721
CREDITORS
Amounts falling due within one year 6 1,201,923 1,000,593
NET CURRENT ASSETS 1,160,020 1,521,128
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,680,290

3,796,654

CREDITORS
Amounts falling due after more than
one year

7

(220,248

)

(294,761

)

PROVISIONS FOR LIABILITIES (1,061,433 ) (162,442 )
NET ASSETS 6,398,609 3,339,451

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 3,205,885 -
Retained earnings 3,192,624 3,339,351
SHAREHOLDERS' FUNDS 6,398,609 3,339,451

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 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.

A. FORSYTH(FARMWORK)LIMITED (REGISTERED NUMBER: 00875363)

BALANCE SHEET - continued
31 MARCH 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:





A E T Forsyth - Director


A. FORSYTH(FARMWORK)LIMITED (REGISTERED NUMBER: 00875363)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024

1. STATUTORY INFORMATION

A. Forsyth (Farmwork) Limited is a private company limited by shares. The company is registered in England under number 00875363 and the address of the registered office is Barclays Bank Chambers, Stratford upon Avon, Warwickshire, CV37 6AH. The company's place of business is Moorlands Farm, Kineton, Warwick, CV35 0EA.

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 as modified by the revaluation of certain assets.

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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Freehold property is shown at the most recent valuation. The revalued amount equates to the fair value at the date of revaluation, less any depreciation or impairment losses subsequently accumulated. Any revaluation increase or decrease is credited to the property revaluation reserve. Depreciation on freehold buildings has not been provided as the directors consider that the charge would be immaterial.

Stocks and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Work in progress has been valued at the lower of estimated cost and net realisable value.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


A. FORSYTH(FARMWORK)LIMITED (REGISTERED NUMBER: 00875363)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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 period 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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 12 (2022 - 14 ) .

A. FORSYTH(FARMWORK)LIMITED (REGISTERED NUMBER: 00875363)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST OR VALUATION
At 1 October 2022 1,552,991 3,184,521 33,858 4,771,370
Additions 36,900 475,281 - 512,181
Disposals - (234,773 ) - (234,773 )
Revaluations 4,110,109 - - 4,110,109
At 31 March 2024 5,700,000 3,425,029 33,858 9,158,887
DEPRECIATION
At 1 October 2022 - 2,462,623 33,221 2,495,844
Charge for period - 288,133 209 288,342
Eliminated on disposal - (145,569 ) - (145,569 )
At 31 March 2024 - 2,605,187 33,430 2,638,617
NET BOOK VALUE
At 31 March 2024 5,700,000 819,842 428 6,520,270
At 30 September 2022 1,552,991 721,898 637 2,275,526

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
Valuation in 2024 4,110,109 - - 4,110,109
Cost 1,589,891 3,425,029 33,858 5,048,778
5,700,000 3,425,029 33,858 9,158,887

If Freehold property had not been revalued it would have been included at the following historical cost:

2024 2022
£    £   
Cost 1,589,891 -

Freehold property was valued on an open market basis on 31 March 2024 by AET and Mrs S Forsyth, directors .

A. FORSYTH(FARMWORK)LIMITED (REGISTERED NUMBER: 00875363)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST OR VALUATION
At 1 October 2022 195,710
Additions 78,000
Disposals (30,477 )
At 31 March 2024 243,233
DEPRECIATION
At 1 October 2022 48,945
Charge for period 49,556
Eliminated on disposal (13,691 )
At 31 March 2024 84,810
NET BOOK VALUE
At 31 March 2024 158,423
At 30 September 2022 146,765

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 1,683,684 846,481
Other debtors 41,970 41,572
1,725,654 888,053

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Bank loans and overdrafts 13,500 14,800
Hire purchase contracts 57,186 44,618
Trade creditors 979,835 692,579
Taxation and social security 82 74,481
Other creditors 151,320 174,115
1,201,923 1,000,593

A. FORSYTH(FARMWORK)LIMITED (REGISTERED NUMBER: 00875363)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2022
£    £   
Bank loans 178,845 197,163
Hire purchase contracts 41,403 97,598
220,248 294,761

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2022
£    £   
Bank loans 192,345 211,963
Hire purchase contracts 98,589 142,216
290,934 354,179

9. RESERVES
Revaluation
reserve
£   
Surplus on revaluation 3,205,885

At 31 March 2024 3,205,885