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COMPANY REGISTRATION NUMBER: 01710157
Dacre Agriculture Limited
Filleted Unaudited Financial Statements
31 March 2024
Dacre Agriculture Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
5,970
7,946
Current assets
Stocks
3,700
3,700
Debtors
6
10,901
6,556
Cash at bank and in hand
4,492
27,240
--------
--------
19,093
37,496
Creditors: amounts falling due within one year
7
97,690
88,320
--------
--------
Net current liabilities
78,597
50,824
--------
--------
Total assets less current liabilities
( 72,627)
( 42,878)
Creditors: amounts falling due after more than one year
8
20,000
30,000
--------
--------
Net liabilities
( 92,627)
( 72,878)
--------
--------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
( 93,627)
( 73,878)
--------
--------
Shareholders deficit
( 92,627)
( 72,878)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Dacre Agriculture Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 10 March 2025 , and are signed on behalf of the board by:
Mr. R. Dacre
Director
Company registration number: 01710157
Dacre Agriculture Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Box Hedge Works, Astwood Road, Bourne End, Cranfield, Bedfordshire, MK43 0AT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have prepared the accounts on a going concern basis. The shareholders have resolved that they will support the operational requirements of the company for the foreseeable future.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, except deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & machinery
-
15% reducing balance
Fixtures & fittings
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023 and 31 March 2024
1,280
521
15,800
17,601
-------
----
--------
--------
Depreciation
At 1 April 2023
1,236
396
8,023
9,655
Charge for the year
7
25
1,944
1,976
-------
----
--------
--------
At 31 March 2024
1,243
421
9,967
11,631
-------
----
--------
--------
Carrying amount
At 31 March 2024
37
100
5,833
5,970
-------
----
--------
--------
At 31 March 2023
44
125
7,777
7,946
-------
----
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
6,425
1,143
Other debtors
4,476
5,413
--------
-------
10,901
6,556
--------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
7,090
3,964
Social security and other taxes
66
Other creditors
80,534
74,356
--------
--------
97,690
88,320
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
20,000
30,000
--------
--------