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REGISTERED NUMBER: 00661803 (England and Wales)















Unaudited Financial Statements

for the period

1 August 2023 to 31 March 2024

for

KITTS END FARM (DAIRIES) LIMITED

KITTS END FARM (DAIRIES) LIMITED (REGISTERED NUMBER: 00661803)

Contents of the Financial Statements
for the period 1 August 2023 to 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KITTS END FARM (DAIRIES) LIMITED

Company Information
for the period 1 August 2023 to 31 March 2024







Directors: C R White
Mrs J A White
A B J White





Secretary: Mrs J A White





Registered office: Kitts End Farm
Kitts End Road
Hadley Wood
Barnet
Herts.
EN5 4RL





Registered number: 00661803 (England and Wales)





Accountants: Duncan & Toplis Limited
3rd Floor, Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ

KITTS END FARM (DAIRIES) LIMITED (REGISTERED NUMBER: 00661803)

Balance Sheet
31 March 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 544,163 550,527
Investments 5 70 70
544,233 550,597

Current assets
Stocks 19,620 53,545
Debtors 6 108,263 71,532
Cash at bank 45,770 43,888
173,653 168,965
Creditors
Amounts falling due within one year 7 57,399 66,774
Net current assets 116,254 102,191
Total assets less current liabilities 660,487 652,788

Creditors
Amounts falling due after more than one year 8 (11,463 ) (16,381 )

Provisions for liabilities (12,623 ) (12,242 )
Net assets 636,401 624,165

Capital and reserves
Called up share capital 9 100 100
Other reserves 670 670
Retained earnings 635,631 623,395
Shareholders' funds 636,401 624,165

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 February 2025 and were signed on its behalf by:





Mrs J A White - Director


KITTS END FARM (DAIRIES) LIMITED (REGISTERED NUMBER: 00661803)

Notes to the Financial Statements
for the period 1 August 2023 to 31 March 2024


1. Statutory information

Kitts End Farm (Dairies) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover represents the company's share of crop profit produce proceeds and a management charge arising from land managed on its behalf plus the value of sundry sales excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 5% on cost
Plant and machinery - 15% on reducing balance and 10% on reducing balance

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

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


KITTS END FARM (DAIRIES) LIMITED (REGISTERED NUMBER: 00661803)

Notes to the Financial Statements - continued
for the period 1 August 2023 to 31 March 2024


2. Accounting policies - continued
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 period 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.

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 period was 3 (2023 - 3 ) .

4. Tangible fixed assets
Leasehold Improvements Plant and Motor
interest to property machinery vehicles Totals
£ £ £ £ £
Cost
At 1 August 2023 415,000 145,142 42,748 68,925 671,815
Additions - - - 69 69
At 31 March 2024 415,000 145,142 42,748 68,994 671,884
Depreciation
At 1 August 2023 - 22,570 39,363 59,355 121,288
Charge for period - 4,838 628 967 6,433
At 31 March 2024 - 27,408 39,991 60,322 127,721
Net book value
At 31 March 2024 415,000 117,734 2,757 8,672 544,163
At 31 July 2023 415,000 122,572 3,385 9,570 550,527

5. Fixed asset investments
Other
investments
£
Cost
At 1 August 2023
and 31 March 2024 70
Net book value
At 31 March 2024 70
At 31 July 2023 70

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 107,487 71,096
Other debtors 776 436
108,263 71,532

KITTS END FARM (DAIRIES) LIMITED (REGISTERED NUMBER: 00661803)

Notes to the Financial Statements - continued
for the period 1 August 2023 to 31 March 2024


7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 7,499 7,633
Taxation and social security 27,333 18,794
Other creditors 22,567 40,347
57,399 66,774

8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 11,463 16,381

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary 1 100 100

10. Ultimate controlling party

The company was controlled throughout the period by the directors.