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Registered number: 12588980
Jb Farming Essex Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Alan Stanton & Co Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12588980
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 141,408 113,728
141,408 113,728
CURRENT ASSETS
Stocks 5 82,000 85,956
Debtors 6 2,000 13,029
Cash at bank and in hand 3,549 3,195
87,549 102,180
Creditors: Amounts Falling Due Within One Year 7 (139,415 ) (155,786 )
NET CURRENT ASSETS (LIABILITIES) (51,866 ) (53,606 )
TOTAL ASSETS LESS CURRENT LIABILITIES 89,542 60,122
Creditors: Amounts Falling Due After More Than One Year 8 (55,561 ) (19,217 )
NET ASSETS 33,981 40,905
CAPITAL AND RESERVES
Called up share capital 10 30 30
Profit and Loss Account 33,951 40,875
SHAREHOLDERS' FUNDS 33,981 40,905
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For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Bret Marshall
Director
15/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Jb Farming Essex Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12588980 . The registered office is Fleet House Manor Trading Estate, Unit 3, Benfleet, Essex, SS7 4FH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. The company only remains a going concern by the continued support of the director, the main creditor of the company.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Straight Line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 June 2023 193,975
Additions 101,565
As at 31 May 2024 295,540
Depreciation
As at 1 June 2023 80,247
Provided during the period 73,885
As at 31 May 2024 154,132
Net Book Value
As at 31 May 2024 141,408
As at 1 June 2023 113,728
5. Stocks
2024 2023
£ £
Materials 82,000 85,956
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,620 7,746
VAT 380 5,283
2,000 13,029
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 41,915 59,286
Trade creditors 15,589 8,998
Bank loans and overdrafts - 12,017
Accruals and deferred income 1,000 1,000
Directors' loan accounts 80,911 74,485
139,415 155,786
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 55,561 19,217
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9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 41,915 59,286
Later than one year and not later than five years 55,561 19,217
97,476 78,503
97,476 78,503
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 30 30
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