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COMPANY REGISTRATION NUMBER: 04750512
John Oliver (Moors Farm) Limited
Filleted Unaudited Financial Statements
For the year ended
30 April 2024
John Oliver (Moors Farm) Limited
Financial Statements
Year ended 30 April 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
John Oliver (Moors Farm) Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
217,240
235,809
Current assets
Debtors
6
2,889
10,723
Cash at bank and in hand
57,727
31,592
--------
--------
60,616
42,315
Creditors: amounts falling due within one year
7
127,284
111,537
----------
----------
Net current liabilities
66,668
69,222
----------
----------
Total assets less current liabilities
150,572
166,587
Creditors: amounts falling due after more than one year
8
3,577
23,031
----------
----------
Net assets
146,995
143,556
----------
----------
Capital and reserves
Called up share capital
100
100
Profit and loss account
146,895
143,456
----------
----------
Shareholders funds
146,995
143,556
----------
----------
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 April 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 .
John Oliver (Moors Farm) Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 23 January 2025 , and are signed on behalf of the board by:
Mr J Oliver
Director
Company registration number: 04750512
John Oliver (Moors Farm) Limited
Notes to the Financial Statements
Year ended 30 April 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 Moors Farm, Holme Road, Spaldington, Goole, East Riding of Yorkshire, DN14 7NB.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered. Turnover is recognised on delivery of produce or on provision of service or entitlement to income and is stated net of discounts and Value Added Tax.
(d) Current & deferred tax
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 be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(f) 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:
Land & Buildings
-
5% reducing balance
Plant & Machinery
-
5% straight line
Equipment
-
20% reducing balance
(g) 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. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Land and buildings
Plant and machinery
Equipment
Total
£
£
£
£
Cost
At 1 May 2023
92,759
255,398
348,157
Additions
217
2,850
3,067
--------
----------
-------
----------
At 30 April 2024
92,759
255,615
2,850
351,224
--------
----------
-------
----------
Depreciation
At 1 May 2023
13,914
98,434
112,348
Charge for the year
4,638
16,428
570
21,636
--------
----------
-------
----------
At 30 April 2024
18,552
114,862
570
133,984
--------
----------
-------
----------
Carrying amount
At 30 April 2024
74,207
140,753
2,280
217,240
--------
----------
-------
----------
At 30 April 2023
78,845
156,964
235,809
--------
----------
-------
----------
6. Debtors
2024
2023
£
£
Trade debtors
2,889
10,723
-------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,901
1,520
Corporation tax
5,088
4,168
Bank loans
21,375
20,491
Directors loan account
97,920
85,358
----------
----------
127,284
111,537
----------
----------
Bank loans are secured on land owned by the company.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
3,577
23,031
-------
--------
Bank loans are secured on land owned by the company.
9. Related party transactions
The two directors have a loan account with the company, which was in credit throughout the period. The loans are interest fee and payable on demand. At the year end the balance due to the directors totalled £ 97,920 (2023 £85,358).