IRIS Accounts Production v24.3.2.46 05773242 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh057732422023-04-30057732422024-04-30057732422023-05-012024-04-30057732422022-04-30057732422022-05-012023-04-30057732422023-04-3005773242ns15:EnglandWales2023-05-012024-04-3005773242ns14:PoundSterling2023-05-012024-04-3005773242ns10:Director12023-05-012024-04-3005773242ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3005773242ns10:SmallEntities2023-05-012024-04-3005773242ns10:AuditExemptWithAccountantsReport2023-05-012024-04-3005773242ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3005773242ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3005773242ns10:FullAccounts2023-05-012024-04-300577324212023-05-012024-04-3005773242ns10:Director22023-05-012024-04-3005773242ns10:Director32023-05-012024-04-3005773242ns10:CompanySecretary12023-05-012024-04-3005773242ns10:RegisteredOffice2023-05-012024-04-3005773242ns5:CurrentFinancialInstruments2024-04-3005773242ns5:CurrentFinancialInstruments2023-04-3005773242ns5:Non-currentFinancialInstruments2024-04-3005773242ns5:Non-currentFinancialInstruments2023-04-3005773242ns5:ShareCapital2024-04-3005773242ns5:ShareCapital2023-04-3005773242ns5:RetainedEarningsAccumulatedLosses2024-04-3005773242ns5:RetainedEarningsAccumulatedLosses2023-04-3005773242ns5:NetGoodwill2023-05-012024-04-3005773242ns5:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3005773242ns5:PlantMachinery2023-05-012024-04-3005773242ns5:MotorVehicles2023-05-012024-04-3005773242ns5:ComputerEquipment2023-05-012024-04-3005773242ns5:NetGoodwill2023-04-3005773242ns5:ComputerSoftware2023-04-3005773242ns5:ComputerSoftware2023-05-012024-04-3005773242ns5:NetGoodwill2024-04-3005773242ns5:ComputerSoftware2024-04-3005773242ns5:NetGoodwill2023-04-3005773242ns5:ComputerSoftware2023-04-3005773242ns5:LandBuildings2023-04-3005773242ns5:PlantMachinery2023-04-3005773242ns5:MotorVehicles2023-04-3005773242ns5:ComputerEquipment2023-04-3005773242ns5:LandBuildings2023-05-012024-04-3005773242ns5:LandBuildings2024-04-3005773242ns5:PlantMachinery2024-04-3005773242ns5:MotorVehicles2024-04-3005773242ns5:ComputerEquipment2024-04-3005773242ns5:LandBuildings2023-04-3005773242ns5:PlantMachinery2023-04-3005773242ns5:MotorVehicles2023-04-3005773242ns5:ComputerEquipment2023-04-3005773242ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3005773242ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-30
REGISTERED NUMBER: 05773242 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

FARMHOUSE FAYRE (NEWPORT) LIMITED

FARMHOUSE FAYRE (NEWPORT) LIMITED (REGISTERED NUMBER: 05773242)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

FARMHOUSE FAYRE (NEWPORT) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: P G Morris
D R Morris
Mrs C M Morris



SECRETARY: P G Morris



REGISTERED OFFICE: East Quay
Kite Hill
Wootton Bridge
Isle of Wight
PO33 4LA



REGISTERED NUMBER: 05773242 (England and Wales)



ACCOUNTANTS: Harrison Black Limited
East Quay
Kite Hill
Wootton Bridge
Isle of Wight
PO33 4LA



BANKERS: Natwest
101 St James Street
Newport
Isle of Wight
PO30 5WA

FARMHOUSE FAYRE (NEWPORT) LIMITED (REGISTERED NUMBER: 05773242)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,071 1,930
Tangible assets 5 384,547 374,151
385,618 376,081

CURRENT ASSETS
Stocks 6 70,000 68,000
Debtors 7 106,675 108,972
Cash at bank and in hand 41,189 32,230
217,864 209,202
CREDITORS
Amounts falling due within one year 8 981,055 956,090
NET CURRENT LIABILITIES (763,191 ) (746,888 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(377,573

)

(370,807

)

CREDITORS
Amounts falling due after more than one
year

9

12,217

22,421
NET LIABILITIES (389,790 ) (393,228 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (389,791 ) (393,229 )
SHAREHOLDERS' FUNDS (389,790 ) (393,228 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

FARMHOUSE FAYRE (NEWPORT) LIMITED (REGISTERED NUMBER: 05773242)

BALANCE SHEET - continued
30 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 31 January 2025 and were signed on its behalf by:





P G Morris - Director


FARMHOUSE FAYRE (NEWPORT) LIMITED (REGISTERED NUMBER: 05773242)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Farmhouse Fayre (Newport) 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.

Going concern basis of preparing the financial statements
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the directors that they will continue to give financial support to the company for twelve months from the date of signing these financial statements.

On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

Turnover
The company operates a fruit and vegetable shop where sale of goods are recognised at the point of delivery. Retail sales are usually by cash, payment cards or on credit. Revenue is measured at the fair value of the consideration received, net of any sales returns and value added tax. The company recognises income when the significant risks and rewards of ownership have been transferred to the buyer and the amount of revenue can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

FARMHOUSE FAYRE (NEWPORT) LIMITED (REGISTERED NUMBER: 05773242)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant & machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Tangible fixed assets are stated at cost or valuation less any accumulated depreciation and any accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

No depreciation is provided on the freehold property as the company follows a programme of regular refurbishment and maintenance of its property, which includes the reinstatement of the fabric of the building, where necessary, in order to maintain it to a high standard. Accordingly, in the opinion of the directors, the cost less residual value would result in no requirement for depreciation.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, cost of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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

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.

FARMHOUSE FAYRE (NEWPORT) LIMITED (REGISTERED NUMBER: 05773242)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Leases that do not transfer all the risks and rewards are classified as operating leases. Rental payments under operating leases are charged to the income statement on a straight line basis over the term of the lease.

Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to income and expenditure account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.

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 in which they relate. Once the contributions have been paid the company has no further payment obligations. Amounts not paid at the year end are shown in other creditors. The assets of the plan are held separately from the company in independently administered funds.

Employment benefits
Short term benefits, including holiday pay, are recognised in the period in which the service is received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Website
Goodwill costs Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 95,000 4,294 99,294
AMORTISATION
At 1 May 2023 95,000 2,364 97,364
Amortisation for year - 859 859
At 30 April 2024 95,000 3,223 98,223
NET BOOK VALUE
At 30 April 2024 - 1,071 1,071
At 30 April 2023 - 1,930 1,930

FARMHOUSE FAYRE (NEWPORT) LIMITED (REGISTERED NUMBER: 05773242)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. TANGIBLE FIXED ASSETS
Freehold Plant & Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 338,025 150,148 66,433 11,525 566,131
Additions - - 22,000 - 22,000
At 30 April 2024 338,025 150,148 88,433 11,525 588,131
DEPRECIATION
At 1 May 2023 - 122,446 61,149 8,385 191,980
Charge for year - 4,155 6,821 628 11,604
At 30 April 2024 - 126,601 67,970 9,013 203,584
NET BOOK VALUE
At 30 April 2024 338,025 23,547 20,463 2,512 384,547
At 30 April 2023 338,025 27,702 5,284 3,140 374,151

6. STOCKS
2024 2023
£    £   
Stock 70,000 68,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 91,054 97,308
Other debtors 15,621 11,664
106,675 108,972

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,149 9,876
Trade creditors 185,662 172,633
Taxation and social security 32,782 31,057
Other creditors 752,462 742,524
981,055 956,090

FARMHOUSE FAYRE (NEWPORT) LIMITED (REGISTERED NUMBER: 05773242)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 12,217 22,421

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
FARMHOUSE FAYRE (NEWPORT) LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Farmhouse Fayre (Newport) Limited for the year ended 30 April 2024 on pages three to ten 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Farmhouse Fayre (Newport) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Farmhouse Fayre (Newport) Limited and state those matters that we have agreed to state to the Board of Directors of Farmhouse Fayre (Newport) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Farmhouse Fayre (Newport) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Farmhouse Fayre (Newport) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Farmhouse Fayre (Newport) Limited. You consider that Farmhouse Fayre (Newport) Limited 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 financial statements of Farmhouse Fayre (Newport) Limited. 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 financial statements.






Harrison Black Limited
East Quay
Kite Hill
Wootton Bridge
Isle of Wight
PO33 4LA


31 January 2025