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REGISTERED NUMBER: 01719581 (England and Wales)















FARMING INVESTMENT COMPANY LIMITED(THE)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024






FARMING INVESTMENT COMPANY LIMITED(THE) (REGISTERED NUMBER: 01719581)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


FARMING INVESTMENT COMPANY LIMITED(THE)

COMPANY INFORMATION
FOR THE YEAR ENDED 5 APRIL 2024







DIRECTORS: J W H Brown
R M L Brown





SECRETARY: R M L Brown





REGISTERED OFFICE: 18 Northgate
Sleaford
Lincolnshire
NG34 7BJ





BUSINESS ADDRESS: Manor Farm
39 Town Road
Quarrington
Sleaford
Lincolnshire
NG34 8RS





REGISTERED NUMBER: 01719581 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ

FARMING INVESTMENT COMPANY LIMITED(THE) (REGISTERED NUMBER: 01719581)

STATEMENT OF FINANCIAL POSITION
5 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3 3

CURRENT ASSETS
Stocks 78,850 78,850
Debtors 5 1,260,552 1,237,061
Cash at bank 67 1,462
1,339,469 1,317,373
CREDITORS
Amounts falling due within one year 6 507,986 491,028
NET CURRENT ASSETS 831,483 826,345
TOTAL ASSETS LESS CURRENT LIABILITIES 831,486 826,348

CREDITORS
Amounts falling due after more than one year 7 36,946 36,246
NET ASSETS 794,540 790,102

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 794,538 790,100
SHAREHOLDERS' FUNDS 794,540 790,102

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 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.

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 3 January 2025 and were signed on its behalf by:





J W H Brown - Director


FARMING INVESTMENT COMPANY LIMITED(THE) (REGISTERED NUMBER: 01719581)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

1. STATUTORY INFORMATION

Farming Investment Company Limited(The) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks and work in progress are valued at the lower of cost and fair value less costs to complete and sell after making due allowance for slow moving and obsolete items.

Taxation
Taxation for the year comprises current 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 statement of financial position date.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 6 April 2023
and 5 April 2024 2,120
DEPRECIATION
At 6 April 2023
and 5 April 2024 2,117
NET BOOK VALUE
At 5 April 2024 3
At 5 April 2023 3

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,260,552 1,237,061

FARMING INVESTMENT COMPANY LIMITED(THE) (REGISTERED NUMBER: 01719581)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,141 5,141
Trade creditors 2,072 -
Taxation and social security 14,509 26,597
Other creditors 486,264 459,290
507,986 491,028

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 36,946 36,246

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 15,036 14,336

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 5 April 2024 and 5 April 2023:

2024 2023
£    £   
J W H Brown
Balance outstanding at start of year 533,827 551,748
Amounts advanced 101,878 1,903
Amounts repaid - (19,824 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 635,705 533,827

R M L Brown
Balance outstanding at start of year 191,098 227,705
Amounts advanced 89,079 -
Amounts repaid - (36,607 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 280,177 191,098

M W L Brown (Deceased)
Balance outstanding at start of year (454,631 ) 6,557
Amounts advanced 119,532 -
Amounts repaid - (461,188 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (335,099 ) (454,631 )

FARMING INVESTMENT COMPANY LIMITED(THE) (REGISTERED NUMBER: 01719581)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

The balances outstanding at the end of the year are unsecured and repayable on demand. Interest on overdrawn directors loan accounts is charged in the accounts at the official rate.