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REGISTERED NUMBER: 01835189 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CAMBRIDGE FARM MACHINERY LIMITED

CAMBRIDGE FARM MACHINERY LIMITED (REGISTERED NUMBER: 01835189)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CAMBRIDGE FARM MACHINERY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J Noble
G H Noble





REGISTERED OFFICE: 63 Church Road
Hauxton
Cambridge
CB22 5HS





BUSINESS ADDRESS: 85 Church Road
Hauxton
Cambridge
Cambridgeshire
CB22 5HS





REGISTERED NUMBER: 01835189 (England and Wales)





ACCOUNTANTS: Thompson Taraz Rand Ltd
Chartered Accountants
10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA

CAMBRIDGE FARM MACHINERY LIMITED (REGISTERED NUMBER: 01835189)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 56,902 49,294

CURRENT ASSETS
Stocks 982,404 916,395
Debtors 6 65,534 202,021
Cash at bank 114,308 96,900
1,162,246 1,215,316
CREDITORS
Amounts falling due within one year 7 (198,191 ) (259,011 )
NET CURRENT ASSETS 964,055 956,305
TOTAL ASSETS LESS CURRENT LIABILITIES 1,020,957 1,005,599

CREDITORS
Amounts falling due after more than one
year

8

(14,422

)

(24,294

)

PROVISIONS FOR LIABILITIES 10 (11,488 ) (7,620 )
NET ASSETS 995,047 973,685

CAPITAL AND RESERVES
Called up share capital 11 103 103
Retained earnings 994,944 973,582
SHAREHOLDERS' FUNDS 995,047 973,685

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

CAMBRIDGE FARM MACHINERY LIMITED (REGISTERED NUMBER: 01835189)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2024 and were signed on its behalf by:





G H Noble - Director


CAMBRIDGE FARM MACHINERY LIMITED (REGISTERED NUMBER: 01835189)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Cambridge Farm Machinery 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
Useful economic lives of tangible fixed assets:
Tangible fixed assets are depreciated over their expected useful lives taking into consideration residual values, where appropriate. The actual lives of the assets and residual values are assessed and amended when necessary to reflect the current estimates based on economic utilisation and physical condition of the assets.

Doubtful debts:
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade debtors , management considers factors including the current credit rating of the debtor, the ageing of the debtor and historical experience regarding payment history.

Slow Moving Stock:
Management apply judgement in evaluating stock movement and possible obsolescence. This judgement is based on managements' knowledge of the stock, customer demand as well as stock age. At each balance sheet date stocks are reviewed for potential impairment and written down where appropriate.

Turnover
Turnover represents the sale of farm machinery, parts and servicing, after discounts, excluding Value Added Tax.

Tangible fixed assets
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 cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.


CAMBRIDGE FARM MACHINERY LIMITED (REGISTERED NUMBER: 01835189)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet 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 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

CAMBRIDGE FARM MACHINERY LIMITED (REGISTERED NUMBER: 01835189)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 339,370
Additions 21,619
At 31 December 2023 360,989
DEPRECIATION
At 1 January 2023 290,076
Charge for year 14,011
At 31 December 2023 304,087
NET BOOK VALUE
At 31 December 2023 56,902
At 31 December 2022 49,294

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 43,270 147,279
Other debtors 22,264 54,742
65,534 202,021

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 9,873 9,873
Trade creditors 13,151 50,779
Taxation and social security 24,448 43,573
Other creditors 150,719 154,786
198,191 259,011

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 9) 14,422 24,294

9. LOANS

Amounts included within bank loans and overdrafts represents the outstanding amount due on a Bounce Back Loan of £50,000.

CAMBRIDGE FARM MACHINERY LIMITED (REGISTERED NUMBER: 01835189)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 11,488 7,620

Deferred
tax
£   
Balance at 1 January 2023 7,620
Charge to Profit and loss account during year 2,155
Impact of rate movement on
opening balance 1,713
Balance at 31 December 2023 11,488

Deferred tax is recognised in respect of the excess of capital allowances over depreciation.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100
1 Ordinary B £1 1 1
1 Ordinary D £1 1 1
1 Ordinary E £1 1 1
103 103

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
J Noble and G H Noble
Balance outstanding at start of year 27,173 32,753
Amounts advanced 5,056 27,173
Amounts repaid (32,229 ) (32,753 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 27,173

13. RELATED PARTY DISCLOSURES

During the year under review the company advanced £5,057 (2022: £27,173) to the directors. The balance outstanding at the year end amounted to nil (2022: £27,173). This loan is repayable on demand and bears interest at 2%. Interest of £272 (2022:£613) has been charged as income to the financial statements.