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REGISTERED NUMBER: 00479440 (England and Wales)















E.M. COLE (FARMS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






E.M. COLE (FARMS) LIMITED (REGISTERED NUMBER: 00479440)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


E.M. COLE (FARMS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mrs C Cole
J M Cole





SECRETARY: Mrs C Cole





REGISTERED OFFICE: Wyvern House
Small Drove Lane
West Pinchbeck
Spalding
Lincolnshire
PE11 3NL





REGISTERED NUMBER: 00479440 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR

E.M. COLE (FARMS) LIMITED (REGISTERED NUMBER: 00479440)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,634,919 2,961,673
Investments 6 1 1
2,634,920 2,961,674

CURRENT ASSETS
Stocks 364,592 335,934
Debtors 7 433,480 455,038
Cash at bank 2,850 3,049
800,922 794,021
CREDITORS
Amounts falling due within one year 8 1,058,045 1,098,022
NET CURRENT LIABILITIES (257,123 ) (304,001 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,377,797 2,657,673

CREDITORS
Amounts falling due after more than one year 9 (667,266 ) (920,596 )

PROVISIONS FOR LIABILITIES (390,737 ) (380,911 )

ACCRUALS AND DEFERRED INCOME (147,651 ) (228,865 )
NET ASSETS 1,172,143 1,127,301

CAPITAL AND RESERVES
Called up share capital 11 4,530 4,530
Capital redemption reserve 1,470 1,470
Retained earnings 1,166,143 1,121,301
SHAREHOLDERS' FUNDS 1,172,143 1,127,301

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

E.M. COLE (FARMS) LIMITED (REGISTERED NUMBER: 00479440)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2024 and were signed on its behalf by:





Mrs C Cole - Director


E.M. COLE (FARMS) LIMITED (REGISTERED NUMBER: 00479440)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

E.M. Cole (Farms) 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.

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.

Turnover
Turnover represents the invoiced value, net of Value Added Tax, of goods sold and services provided to customers and revenue is recognised on delivery.

Intangible assets - entitlements
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses. The purchase of entitlements are being amortised on a straight line basis to 31 December 2020.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on reducing balance, 5% on cost and 2% on cost
Plant and machinery etc - 25% on cost, 20% on cost, 20% on reducing balance, 15% on reducing balance and 2% on cost

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 are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.


E.M. COLE (FARMS) LIMITED (REGISTERED NUMBER: 00479440)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2023 - 40 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2023
and 30 September 2024 19,938
AMORTISATION
At 1 October 2023
and 30 September 2024 19,938
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

E.M. COLE (FARMS) LIMITED (REGISTERED NUMBER: 00479440)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 2,268,283 3,916,546 6,184,829
Additions - 98,961 98,961
At 30 September 2024 2,268,283 4,015,507 6,283,790
DEPRECIATION
At 1 October 2023 1,221,706 2,001,450 3,223,156
Charge for year 61,321 364,394 425,715
At 30 September 2024 1,283,027 2,365,844 3,648,871
NET BOOK VALUE
At 30 September 2024 985,256 1,649,663 2,634,919
At 30 September 2023 1,046,577 1,915,096 2,961,673

Included in cost of land and buildings is freehold land of £ 515,369 (2023 - £ 515,369 ) which is not depreciated.


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2023
and 30 September 2024 1
NET BOOK VALUE
At 30 September 2024 1
At 30 September 2023 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 315,656 371,456
Other debtors 117,824 83,582
433,480 455,038

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 378,562 311,454
Hire purchase contracts 147,989 147,397
Trade creditors 279,311 355,326
Taxation and social security 106,837 82,732
Other creditors 145,346 201,113
1,058,045 1,098,022

E.M. COLE (FARMS) LIMITED (REGISTERED NUMBER: 00479440)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 519,924 713,469
Hire purchase contracts 147,342 207,127
667,266 920,596

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,260 27,587

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 185,462 85,869
Bank loans 713,024 939,054
Hire purchase contracts 295,331 354,524
1,193,817 1,379,447

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number: Class: Nominal value: 2020 2019
£ £
2,060 A Ordinary £1 2,060 2,060
1,470 B Ordinary £1 1,470 1,470
1,000 C Ordinary £1 1,000 1,000

4,530 4,530

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs C Cole.