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REGISTERED NUMBER: 01393468 (England and Wales)










Financial Statements

for the Year Ended 5 April 2024

for

Severals Farm Limited

Severals Farm Limited (Registered number: 01393468)






Contents of the Financial Statements
for the Year Ended 5 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Severals Farm Limited

Company Information
for the Year Ended 5 April 2024







DIRECTORS: Mr R J A Dent
Mr J W Dent
Mr E W G Dent
Mrs G Dent





REGISTERED OFFICE: Suite 32/33
Normanby Gateway
Lysaghts Way
Scunthorpe
North Lincolnshire
DN15 9YG





REGISTERED NUMBER: 01393468 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Suite 32/33 Normany Gateway,
Lysaghts Way,
Scunthorpe
North Lincolnshire
DN15 9YG

Severals Farm Limited (Registered number: 01393468)

Balance Sheet
5 April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,180,301 1,168,626
Investment property 5 306,860 306,860
1,487,161 1,475,486

CURRENT ASSETS
Stocks 97,768 216,356
Debtors 6 13,040 (2,532 )
Cash at bank 439,520 707,354
550,328 921,178
CREDITORS
Amounts falling due within one year 7 (121,791 ) (205,445 )
NET CURRENT ASSETS 428,537 715,733
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,915,698

2,191,219

CREDITORS
Amounts falling due after more than one year 8 (13,091 ) (96,308 )

PROVISIONS FOR LIABILITIES (142,911 ) (139,816 )
NET ASSETS 1,759,696 1,955,095

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 10 1,759,686 1,955,085
SHAREHOLDERS' FUNDS 1,759,696 1,955,095

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 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.

Severals Farm Limited (Registered number: 01393468)

Balance Sheet - continued
5 April 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 29 January 2025 and were signed on its behalf by:





Mr E W G Dent - Director


Severals Farm Limited (Registered number: 01393468)

Notes to the Financial Statements
for the Year Ended 5 April 2024

1. STATUTORY INFORMATION

Severals Farm 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance

INVESTMENT PROPERTY
Investment property is shown at cost, less depreciation charged at a rate of 10% straight line method.

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

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 3 (2023 - 3 ) .

Severals Farm Limited (Registered number: 01393468)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 6 April 2023 558,912 1,389,243 85,088 2,033,243
Additions - 151,540 2,051 153,591
Disposals - (92,500 ) - (92,500 )
At 5 April 2024 558,912 1,448,283 87,139 2,094,334
DEPRECIATION
At 6 April 2023 136,510 661,759 66,348 864,617
Charge for year 4,611 118,753 3,073 126,437
Eliminated on disposal - (77,021 ) - (77,021 )
At 5 April 2024 141,121 703,491 69,421 914,033
NET BOOK VALUE
At 5 April 2024 417,791 744,792 17,718 1,180,301
At 5 April 2023 422,402 727,484 18,740 1,168,626

Freehold property has been included in the balance sheet at cost. Some of the freehold property is made up of two different components: land and buildings. Land is not normally depreciated because it is not expected to wear out and its residual value is likely to be at least equal to its cost. The buildings are maintained in good condition, however, they may depreciate due to their inherent use within the business. Consequently, and on the basis that the directors are unable to fairly separate the land and buildings component in respect of some of the freehold property, depreciation is provided for on these assets on the basis of prudence.

5. INVESTMENT PROPERTY
Total
£   
COST
At 6 April 2023
and 5 April 2024 340,224
DEPRECIATION
At 6 April 2023
and 5 April 2024 33,364
NET BOOK VALUE
At 5 April 2024 306,860
At 5 April 2023 306,860

Severals Farm Limited (Registered number: 01393468)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024

5. INVESTMENT PROPERTY - continued

The freehold investment property is leased to an associated company, namely Severals Ventures Limited, on normal commercial terms.
Investment property has been included in the balance sheet at cost. Cost is made up of two principal components: land and a building. Land is not normally depreciated because it is not expected to wear out and its residual value is likely to be at least equal to its cost. The building is maintained in good condition, however, it may depreciate. Consequently, and on the basis that the directors are unable to fairly separate the land, building and other components, depreciation is provided for on these assets on the basis of prudence.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Severals (1990) Retirement Benefits Scheme (76,696 ) (32,254 )
VAT - 10,547
Directors' current accounts 15,093 -
Tax 37,458 -
Prepayments 37,185 19,175
13,040 (2,532 )

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 10,183 26,908
Other loans (see note 9) 61,333 61,333
Trade creditors 25,790 56,249
Corporation tax - 37,700
Social security and other tax 5,822 4,076
VAT 1,718 -
Severals Ventures Ltd 9,211 11,682
Accruals 7,734 7,162
Directors' current accounts - 335
121,791 205,445

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 13,091 34,975
Other loans (see note 9) - 61,333
13,091 96,308

Severals Farm Limited (Registered number: 01393468)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,183 26,908
Other loans less than 1 yr 61,333 61,333
71,516 88,241

Amounts falling due between one and two years:
Bank and other loans 13,091 21,884
Other loans more than 1 yr - 61,333
13,091 83,217

Amounts falling due between two and five years:
Bank loans - 2-5 years - 13,091

10. RESERVES
Retained
earnings
£   

At 6 April 2023 1,955,085
Deficit for the year (144,641 )
Dividends (50,758 )
At 5 April 2024 1,759,686

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Dividends totalling £50,758 were paid to the directors throughout the year ended 05th April 2024 (2023 : £10,000). The directors owed the Company £15,093 as at 05th April 2024 (The Company owed the directors £335 as at 05th April 2023).