Registered number
07825829
Ritoweg Farm Ltd
Filleted Accounts
31 October 2024
Ritoweg Farm Ltd
Registered number: 07825829
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 38,217 47,366
Current assets
Stocks 7,000 7,000
Debtors 4 971 1,227
Cash at bank and in hand 24,742 43,920
32,713 52,147
Creditors: amounts falling due within one year 5 (294,580) (308,317)
Net current liabilities (261,867) (256,170)
Net liabilities (223,650) (208,804)
Capital and reserves
Called up share capital 53 53
Profit and loss account (223,703) (208,857)
Shareholders' funds (223,650) (208,804)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs T Thomas
Director
Approved by the board on 30 January 2025
Ritoweg Farm Ltd
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2023 133,293 42,099 175,392
Additions 407 - 407
At 31 October 2024 133,700 42,099 175,799
Depreciation
At 1 November 2023 109,762 18,264 128,026
Charge for the year 4,787 4,769 9,556
At 31 October 2024 114,549 23,033 137,582
Net book value
At 31 October 2024 19,151 19,066 38,217
At 31 October 2023 23,531 23,835 47,366
4 Debtors 2024 2023
£ £
Trade debtors 971 1,227
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 18,750 17,438
Taxation and social security costs (1,255) 1,001
Other creditors 277,085 289,878
294,580 308,317
6 Other information
Ritoweg Farm Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Ritoweg Farm
Headcorn Road
Smarden
Kent
TN27 8PN
Ritoweg Farm Ltd 07825829 false 2023-11-01 2024-10-31 2024-10-31 VT Final Accounts July 2024 Mrs T Thomas No description of principal activity 07825829 2022-11-01 2023-10-31 07825829 core:WithinOneYear 2023-10-31 07825829 core:ShareCapital 2023-10-31 07825829 core:RetainedEarningsAccumulatedLosses 2023-10-31 07825829 2023-11-01 2024-10-31 07825829 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 07825829 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 07825829 bus:Director40 2023-11-01 2024-10-31 07825829 1 2023-11-01 2024-10-31 07825829 2 2023-11-01 2024-10-31 07825829 core:PlantMachinery 2023-11-01 2024-10-31 07825829 core:Vehicles 2023-11-01 2024-10-31 07825829 countries:England 2023-11-01 2024-10-31 07825829 bus:FRS102 2023-11-01 2024-10-31 07825829 bus:FilletedAccounts 2023-11-01 2024-10-31 07825829 2024-10-31 07825829 core:WithinOneYear 2024-10-31 07825829 core:ShareCapital 2024-10-31 07825829 core:RetainedEarningsAccumulatedLosses 2024-10-31 07825829 core:PlantMachinery 2024-10-31 07825829 core:Vehicles 2024-10-31 07825829 2023-10-31 07825829 core:PlantMachinery 2023-10-31 07825829 core:Vehicles 2023-10-31 iso4217:GBP xbrli:pure