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Registration number: 08016926

Beech Farm Ltd

Annual Report and Unaudited Financial Statements Year Ended 30 April 2024

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Chartered Accountants

 

Beech Farm Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Beech Farm Ltd

Company Information

Directors

Mr S L Neads

Mrs C Neads

Mrs P C Reading

Registered office

Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

Accountants

Edwards and Keeping Limited
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Beech Farm Ltdfor the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Beech Farm Ltd for the year ended 30 April 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Beech Farm Ltd, as a body, in accordance with the terms of our engagement letter dated 24 January 2020. Our work has been undertaken solely to prepare for your approval the accounts of Beech Farm Ltd and state those matters that we have agreed to state to the Board of Directors of Beech Farm Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Beech Farm Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Beech Farm Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Beech Farm Ltd. You consider that Beech Farm Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Beech Farm Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






Edwards and Keeping Limited
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

30 January 2025

 

Beech Farm Ltd

(Registration number: 08016926)
Balance Sheet as at 30 April 2024

Note

2024

2023

   

£

£

£

£

Fixed assets

   

 

Tangible assets

5

 

459,392

 

459,839

Current assets

   

 

Stocks

6

186,290

 

186,290

 

Debtors

7

10,390

 

3,388

 

Cash at bank and in hand

 

17,023

 

26,792

 

 

213,703

 

216,470

 

Creditors: Amounts falling due within one year

8

(291,809)

 

(317,912)

 

Net current liabilities

   

(78,106)

 

(101,442)

Net assets

   

381,286

 

358,397

Capital and reserves

   

 

Called up share capital

2

 

2

 

Retained earnings

381,284

 

358,395

 

Total equity

   

381,286

 

358,397

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 January 2025 and signed on its behalf by:
 



Mr S L Neads
Director

 

Beech Farm Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA
England

The principal place of business is:
Beech Farm
Grayswood
Haslemere
Surrey
GU27 2DF

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

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 sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Beech Farm Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

House improvements

Not depreciated

Stables

Not depreciated

Equipment

20% reducing balance basis

Motor vehicles

20% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Beech Farm Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 3).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

23,397

21,691

 

Beech Farm Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024

5

Tangible assets

House Improvements
£

Stables
 £

Equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

107,998

265,076

179,149

105,468

657,691

Additions

-

-

22,950

-

22,950

At 30 April 2024

107,998

265,076

202,099

105,468

680,641

Depreciation

At 1 May 2023

-

-

138,660

59,192

197,852

Charge for the year

-

-

12,688

10,709

23,397

At 30 April 2024

-

-

151,348

69,901

221,249

Carrying amount

At 30 April 2024

107,998

265,076

50,751

35,567

459,392

At 30 April 2023

107,998

265,076

40,489

46,276

459,839

 

Beech Farm Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024

6

Stocks

2024
£

2023
£

Other inventories

186,290

186,290

7

Debtors

Current

2024
£

2023
£

Trade debtors

7,000

-

Prepayments

3,390

3,388

 

10,390

3,388

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,693

5,946

Taxation and social security

22,302

11,547

Accruals and deferred income

1,828

1,582

Other creditors

265,986

298,837

291,809

317,912