Silverfin false false 30/09/2024 01/10/2023 30/09/2024 Mr H J Pendray 02/11/1991 Mrs L M Pendray 02/11/1991 Mrs L M Pendray 09 January 2025 The principal activity of the Company during the financial year was that of farming. 00626638 2024-09-30 00626638 bus:Director1 2024-09-30 00626638 bus:Director2 2024-09-30 00626638 2023-09-30 00626638 core:CurrentFinancialInstruments 2024-09-30 00626638 core:CurrentFinancialInstruments 2023-09-30 00626638 core:ShareCapital 2024-09-30 00626638 core:ShareCapital 2023-09-30 00626638 core:RevaluationReserve 2024-09-30 00626638 core:RevaluationReserve 2023-09-30 00626638 core:CapitalRedemptionReserve 2024-09-30 00626638 core:CapitalRedemptionReserve 2023-09-30 00626638 core:RetainedEarningsAccumulatedLosses 2024-09-30 00626638 core:RetainedEarningsAccumulatedLosses 2023-09-30 00626638 core:OtherResidualIntangibleAssets 2023-09-30 00626638 core:OtherResidualIntangibleAssets 2024-09-30 00626638 core:LandBuildings 2023-09-30 00626638 core:PlantMachinery 2023-09-30 00626638 core:Vehicles 2023-09-30 00626638 core:LandBuildings 2024-09-30 00626638 core:PlantMachinery 2024-09-30 00626638 core:Vehicles 2024-09-30 00626638 core:CostValuation 2023-09-30 00626638 core:AdditionsToInvestments 2024-09-30 00626638 core:DisposalsRepaymentsInvestments 2024-09-30 00626638 core:RevaluationsIncreaseDecreaseInInvestments 2024-09-30 00626638 core:CostValuation 2024-09-30 00626638 bus:OrdinaryShareClass1 2024-09-30 00626638 2023-10-01 2024-09-30 00626638 bus:FilletedAccounts 2023-10-01 2024-09-30 00626638 bus:SmallEntities 2023-10-01 2024-09-30 00626638 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 00626638 bus:UnlimitedCompany 2023-10-01 2024-09-30 00626638 bus:Director1 2023-10-01 2024-09-30 00626638 bus:Director2 2023-10-01 2024-09-30 00626638 bus:CompanySecretary1 2023-10-01 2024-09-30 00626638 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-10-01 2024-09-30 00626638 core:LandBuildings 2023-10-01 2024-09-30 00626638 core:PlantMachinery 2023-10-01 2024-09-30 00626638 core:Vehicles 2023-10-01 2024-09-30 00626638 2022-10-01 2023-09-30 00626638 core:CurrentFinancialInstruments 2023-10-01 2024-09-30 00626638 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 00626638 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 00626638 (England and Wales)

PENDRAY FARMS

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

PENDRAY FARMS

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

PENDRAY FARMS

BALANCE SHEET

As at 30 September 2024
PENDRAY FARMS

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 487,311 499,284
Investments 5 508,816 442,451
996,127 941,735
Current assets
Stocks 6 203,249 194,901
Debtors 7 20,506 122,636
Cash at bank and in hand 156,555 171,079
380,310 488,616
Creditors: amounts falling due within one year 8 ( 230,200) ( 348,537)
Net current assets 150,110 140,079
Total assets less current liabilities 1,146,237 1,081,814
Provision for liabilities ( 38,366) ( 28,449)
Net assets 1,107,871 1,053,365
Capital and reserves
Called-up share capital 9 4,782 4,782
Revaluation reserve 66,427 28,509
Capital redemption reserve 7,218 7,218
Profit and loss account 1,029,444 1,012,856
Total shareholders' funds 1,107,871 1,053,365

For the financial 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 financial statements of Pendray Farms (registered number: 00626638) were approved and authorised for issue by the Board of Directors on 09 January 2025. They were signed on its behalf by:

Mr H J Pendray
Director
PENDRAY FARMS

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
PENDRAY FARMS

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Pendray Farms (the Company) is a private company incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is:
Caduscott
East Taphouse
Liskeard
Cornwall
PL14 4NG

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line and reducing balance basis over its expected useful life, as follows:

Land and buildings 0 - 15 % reducing balance
Plant and machinery 5 - 20 % reducing balance
Vehicles 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 October 2023 8,144 8,144
At 30 September 2024 8,144 8,144
Accumulated amortisation
At 01 October 2023 8,144 8,144
At 30 September 2024 8,144 8,144
Net book value
At 30 September 2024 0 0
At 30 September 2023 0 0

4. Tangible assets

Land and buildings Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 October 2023 577,210 206,912 28,000 812,122
At 30 September 2024 577,210 206,912 28,000 812,122
Accumulated depreciation
At 01 October 2023 153,709 145,465 13,664 312,838
Charge for the financial year 1,085 8,021 2,867 11,973
At 30 September 2024 154,794 153,486 16,531 324,811
Net book value
At 30 September 2024 422,416 53,426 11,469 487,311
At 30 September 2023 423,501 61,447 14,336 499,284

Included within the net book value of land and buildings above is £422,416 (2023 - £423,501) in respect of freehold land and buildings.

5. Fixed asset investments

Listed investments Other investments Total
£ £ £
Cost or valuation before impairment
At 01 October 2023 435,161 7,290 442,451
Additions 44,841 0 44,841
Disposals ( 29,033) 0 ( 29,033)
Movement in fair value 50,557 0 50,557
At 30 September 2024 501,526 7,290 508,816
Carrying value at 30 September 2024 501,526 7,290 508,816
Carrying value at 30 September 2023 435,161 7,290 442,451

6. Stocks

2024 2023
£ £
Stocks 203,249 194,901

7. Debtors

2024 2023
£ £
Trade debtors 7,200 115,558
Other debtors 13,306 7,078
20,506 122,636

8. Creditors: amounts falling due within one year

2024 2023
£ £
Bank overdrafts 0 106,812
Trade creditors 102,503 120,966
Taxation and social security 23,977 13,971
Other creditors 103,720 106,788
230,200 348,537

The company bank borrowing is secured by way of charge over the company assets.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
4,782 Ordinary shares of £ 1.00 each 4,782 4,782