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REGISTERED NUMBER: 11919266 (England and Wales)















IRONBUSH DAIRY FARM LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 6 APRIL 2024






IRONBUSH DAIRY FARM LIMITED (REGISTERED NUMBER: 11919266)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 6 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


IRONBUSH DAIRY FARM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 6 APRIL 2024







DIRECTORS: Mrs T M Scannell
L P Scannell
M J Scannell





SECRETARY: Mrs T M Scannell





REGISTERED OFFICE: Newbold 333 Dairy Farm
Newbold Lane
Burrough On The Hill
Melton Mowbray
Leicestershire
LE14 2QY





REGISTERED NUMBER: 11919266 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
26 Park Road
Melton Mowbray
Leicestershire
LE13 1TT

IRONBUSH DAIRY FARM LIMITED (REGISTERED NUMBER: 11919266)

STATEMENT OF FINANCIAL POSITION
6 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 375,707 348,215

CURRENT ASSETS
Inventories 184,794 173,850
Debtors 5 49,432 42,670
Investments 6 11,308 5,657
245,534 222,177
CREDITORS
Amounts falling due within one year 7 234,049 239,195
NET CURRENT ASSETS/(LIABILITIES) 11,485 (17,018 )
TOTAL ASSETS LESS CURRENT LIABILITIES 387,192 331,197

CREDITORS
Amounts falling due after more than one
year

8

(89,159

)

(80,952

)

PROVISIONS FOR LIABILITIES (58,339 ) (64,830 )
NET ASSETS 239,694 185,415

IRONBUSH DAIRY FARM LIMITED (REGISTERED NUMBER: 11919266)

STATEMENT OF FINANCIAL POSITION - continued
6 APRIL 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 90 90
Retained earnings 239,604 185,325
SHAREHOLDERS' FUNDS 239,694 185,415

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 6 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 6 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 17 December 2024 and were signed on its behalf by:





M J Scannell - Director


IRONBUSH DAIRY FARM LIMITED (REGISTERED NUMBER: 11919266)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 6 APRIL 2024

1. STATUTORY INFORMATION

Ironbush Dairy Farm 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.

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.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Property, plant and equipment is 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.

Government grants
Government grants relating to revenue are recognised as income on a systematic basis over the period in which the related costs for which the grant is intended to compensate are recognised.

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


IRONBUSH DAIRY FARM LIMITED (REGISTERED NUMBER: 11919266)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 6 APRIL 2024

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. 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 year was 3 (2023 - 3 ) .

IRONBUSH DAIRY FARM LIMITED (REGISTERED NUMBER: 11919266)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 6 APRIL 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 7 April 2023 485,606
Additions 148,791
Disposals (83,846 )
At 6 April 2024 550,551
DEPRECIATION
At 7 April 2023 137,391
Charge for year 73,911
Eliminated on disposal (36,458 )
At 6 April 2024 174,844
NET BOOK VALUE
At 6 April 2024 375,707
At 6 April 2023 348,215

The net book value of property, plant and equipment includes £196,349 (2023: 176,842) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 20,766 26,519
Other debtors 23,789 12,383
Prepayments 4,877 3,768
49,432 42,670

6. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Other 11,308 5,657

IRONBUSH DAIRY FARM LIMITED (REGISTERED NUMBER: 11919266)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 6 APRIL 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 22,248 8,691
Hire purchase contracts 37,608 41,760
Trade creditors 68,060 23,028
Tax 131 20,546
Social security and other taxes 13,979 4,299
Directors' current accounts 81,182 125,199
Accrued expenses 10,841 15,672
234,049 239,195

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 89,159 80,952

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 22,248 8,691
Hire purchase contracts 126,767 122,712
149,015 131,403

The bank overdraft is secured by way of a fixed and floating charge over all assets of the company.

The hire purchase liabilities are secured over the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
90 Ordinary £1 90 90