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COMPANY REGISTRATION NUMBER: 00563210
Ettridge Farm Limited
Filleted Unaudited Financial Statements
30 September 2024
Ettridge Farm Limited
Financial Statements
Year ended 30 September 2024
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 5
Ettridge Farm Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
429,654
439,817
Current assets
Stocks
44,777
77,429
Debtors
5
18,296
22,627
Cash at bank and in hand
73,339
68,364
---------
---------
136,412
168,420
Creditors: amounts falling due within one year
6
( 130,192)
( 137,217)
---------
---------
Net current assets
6,220
31,203
---------
---------
Total assets less current liabilities
435,874
471,020
Provisions
Taxation including deferred tax
( 1,888)
( 10,637)
---------
---------
Net assets
433,986
460,383
---------
---------
Ettridge Farm Limited
Statement of Financial Position (continued)
30 September 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
3,000
3,000
Profit and loss account
430,986
457,383
---------
---------
Shareholders funds
433,986
460,383
---------
---------
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 30 September 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 December 2024 , and are signed on behalf of the board by:
C G Nicholls
Director
Company registration number: 00563210
Ettridge Farm Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Town Quay Wharf, Abbey Road, Barking, Essex, IG11 7BZ.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Other operating income
Other operating income comprises receipts due in respect of the European Union's Common Agricultural Policy Single Payment Scheme for the calendar year ending in the company's accounting year for which entitlement has been established, and wayleave receivable.
Revenue recognition
Turnover, all of which arises in the United Kingdom, represents the value of livestock or other farm produce sold to customers during the year, net of value added tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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 and machinery
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Agricultural buildings
-
10% reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
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. Tangible assets
Freehold land
Plant and machinery
Motor vehicles
Agricultural buildings
Total
£
£
£
£
£
Cost
At 1 October 2023 and 30 September 2024
369,625
136,385
11,950
135,175
653,135
---------
---------
--------
---------
---------
Depreciation
At 1 October 2023
100,543
2,953
109,822
213,318
Charge for the year
5,378
2,249
2,536
10,163
---------
---------
--------
---------
---------
At 30 September 2024
105,921
5,202
112,358
223,481
---------
---------
--------
---------
---------
Carrying amount
At 30 September 2024
369,625
30,464
6,748
22,817
429,654
---------
---------
--------
---------
---------
At 30 September 2023
369,625
35,842
8,997
25,353
439,817
---------
---------
--------
---------
---------
5. Debtors
2024
2023
£
£
Trade debtors
151
Other debtors
18,296
22,476
--------
--------
18,296
22,627
--------
--------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
12,403
19,458
Other creditors
117,789
117,759
---------
---------
130,192
137,217
---------
---------
7. Related party transactions
The director B.C.Nicholls is also a director and shareholder of A H Nicholls & Sons Limited (A.H.N.). During the year the following transactions at normal arms length, net of VAT, took place between this company :
2024 2023
£ £
Management charges from A.H.N. 53,927 47,921
Sales to A.H.N. 825 1,023
Rent payable to A.H.N. 11,194 11,194