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COMPANY REGISTRATION NUMBER: 470406
Bourne Farm (Halstead) Limited
Filleted Unaudited Financial Statements
For the Year Ended
30 June 2024
Bourne Farm (Halstead) Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed Assets
Tangible assets
5
107,694
109,258
Investments
6
360
360
----------
----------
108,054
109,618
Current Assets
Debtors
7
507
1,518
Cash at bank and in hand
105,438
83,365
----------
---------
105,945
84,883
Creditors: amounts falling due within one year
8
10,836
4,183
----------
---------
Net Current Assets
95,109
80,700
----------
----------
Total Assets Less Current Liabilities
203,163
190,318
----------
----------
Bourne Farm (Halstead) Limited
Statement of Financial Position (continued)
30 June 2024
2024
2023
Note
£
£
£
Capital and Reserves
Called up share capital
4,075
4,075
Profit and loss account
199,088
186,243
----------
----------
Shareholders Funds
203,163
190,318
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30th June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 2 January 2025 , and are signed on behalf of the board by:
Simon Edwards
Director
Company registration number: 470406
Bourne Farm (Halstead) Limited
Notes to the Financial Statements
Year Ended 30th June 2024
1. General Information
The company is a private company limited by shares, registered in England. The address of the registered office is Oak Road, Halstead, CO9 1LX, Essex.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis.
Revenue Recognition
The turnover shown in the profit and loss account represents rents and grants received during the year.
Operating Leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & machinery
-
straight line over 5 to 15 years
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible Assets
Land and buildings
Plant and machinery
Total
£
£
£
Cost
At 1st July 2023 and 30th June 2024
105,013
143,890
248,903
----------
----------
----------
Depreciation
At 1st July 2023
139,645
139,645
Charge for the year
1,564
1,564
----------
----------
----------
At 30th June 2024
141,209
141,209
----------
----------
----------
Carrying amount
At 30th June 2024
105,013
2,681
107,694
----------
----------
----------
At 30th June 2023
105,013
4,245
109,258
----------
----------
----------
6. Investments
Other investments other than loans
£
Cost
At 1st July 2023 and 30th June 2024
360
----
Impairment
At 1st July 2023 and 30th June 2024
----
Carrying amount
At 30th June 2024
360
----
At 30th June 2023
360
----
7. Debtors
2024
2023
£
£
Other debtors
507
1,518
----
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
6,527
3,471
Social security and other taxes
4,298
500
Other creditors
11
212
---------
-------
10,836
4,183
---------
-------