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REGISTERED NUMBER: 09385791 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

JLC Farming Limited

JLC Farming Limited (Registered number: 09385791)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JLC Farming Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mr R J Proudley
Miss E A Parkes





REGISTERED OFFICE: Marland House
13 Huddersfield Road
Barnsley
South Yorkshire
S70 2LW





REGISTERED NUMBER: 09385791 (England and Wales)





ACCOUNTANTS: Harris & Co Limited
Chartered Accountants
Marland House
13 Huddersfield Road
Barnsley
South Yorkshire
S70 2LW

JLC Farming Limited (Registered number: 09385791)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 314,509 149,491

CURRENT ASSETS
Stocks 70,525 69,105
Debtors 6 46,657 47,112
Cash at bank 10,597 6,796
127,779 123,013
CREDITORS
Amounts falling due within one year 7 132,675 89,842
NET CURRENT (LIABILITIES)/ASSETS (4,896 ) 33,171
TOTAL ASSETS LESS CURRENT
LIABILITIES

309,613

182,662

CREDITORS
Amounts falling due after more than one
year

8

(246,677

)

(126,869

)

PROVISIONS FOR LIABILITIES (9,991 ) (7,149 )
NET ASSETS 52,945 48,644

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 52,943 48,642
SHAREHOLDERS' FUNDS 52,945 48,644

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 January 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.

JLC Farming Limited (Registered number: 09385791)

Balance Sheet - continued
31 January 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:





Mr R J Proudley - Director


JLC Farming Limited (Registered number: 09385791)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

JLC Farming 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 and functional 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 on a going concern basis under the historical cost convention.

Significant judgements and estimates
The principal accounting policies and significant judgements and estimates applied in the preparation of these financial statements are set out below. These policies, judgements and estimates have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents amounts earned on goods and services provided during the year and derives from the provision of goods and services falling within the company's ordinary activities.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

All fixed assets are initially recorded at cost.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


JLC Farming Limited (Registered number: 09385791)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 250,158
Additions 205,596
Disposals (23,000 )
At 31 January 2024 432,754
DEPRECIATION
At 1 February 2023 100,667
Charge for year 29,772
Eliminated on disposal (12,194 )
At 31 January 2024 118,245
NET BOOK VALUE
At 31 January 2024 314,509
At 31 January 2023 149,491

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 21,164 18,541
Other debtors 25,493 28,571
46,657 47,112

JLC Farming Limited (Registered number: 09385791)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 62,753 34,455
Hire purchase contracts 60,146 29,422
Trade creditors 3,739 3,460
Taxation and social security 100 100
Other creditors 5,937 22,405
132,675 89,842

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 26,250 31,096
Hire purchase contracts 179,927 55,773
Other creditors 40,500 40,000
246,677 126,869

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
by instalments 6,865 11,711
6,865 11,711

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2