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REGISTERED NUMBER: 06283087 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Bills Farm Services Limited

Bills Farm Services Limited (Registered number: 06283087)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bills Farm Services Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: P A Bills
T C Bills
M A Bills





REGISTERED OFFICE: I.C. Fields Farm
Rogues Lane
Hinckley
Leicestershire
LE10 3DX





REGISTERED NUMBER: 06283087 (England and Wales)





ACCOUNTANTS: Geoff Cowley & Co Ltd
Willow Park
Upton Lane
Stoke Golding
Nuneaton
Warwickshire
CV13 6EU

Bills Farm Services Limited (Registered number: 06283087)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 335,488 238,943

CURRENT ASSETS
Stocks 76,336 44,593
Debtors 5 96,709 62,470
Cash at bank 4 54
173,049 107,117
CREDITORS
Amounts falling due within one year 6 359,242 292,972
NET CURRENT LIABILITIES (186,193 ) (185,855 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

149,295

53,088

CREDITORS
Amounts falling due after more than one
year

7

200,479

119,167
NET LIABILITIES (51,184 ) (66,079 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (51,284 ) (66,179 )
SHAREHOLDERS' FUNDS (51,184 ) (66,079 )

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

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

Bills Farm Services Limited (Registered number: 06283087)

Balance Sheet - continued
30 June 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 18 March 2025 and were signed on its behalf by:





P A Bills - Director


Bills Farm Services Limited (Registered number: 06283087)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

Bills Farm Services 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% 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.

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.

Bills Farm Services Limited (Registered number: 06283087)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The financial statements have been prepared on a going concern basis despite the company having negative net current liabilities of £161,007 (2021:£176,815) and negative net assets of £44,425 (2021:£100,189).

The directors / shareholders have considered the underlying trading position and future cash requirement of the company. The directors / shareholders of the company have also indicated their willingness to provide financial support if required to enable the company to continue to trade. The directors therefore consider it appropriate to prepare the financial statements on a going concern basis, as the company will continue to trade for the next twelve months.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 July 2023 448,503 5,461 746 454,710
Additions 206,800 - - 206,800
Disposals (77,755 ) - - (77,755 )
At 30 June 2024 577,548 5,461 746 583,755
DEPRECIATION
At 1 July 2023 213,257 1,894 616 215,767
Charge for year 70,681 892 43 71,616
Eliminated on disposal (39,116 ) - - (39,116 )
At 30 June 2024 244,822 2,786 659 248,267
NET BOOK VALUE
At 30 June 2024 332,726 2,675 87 335,488
At 30 June 2023 235,246 3,567 130 238,943

Bills Farm Services Limited (Registered number: 06283087)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:
Plant and
machinery
£   
COST
At 1 July 2023
and 30 June 2024 233,355
DEPRECIATION
At 1 July 2023
and 30 June 2024 81,982
NET BOOK VALUE
At 30 June 2024 151,373
At 30 June 2023 151,373

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 96,709 62,470

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 69,211 37,901
Finance leases 56,545 42,943
Trade creditors 107,337 81,171
Taxation and social security 99,168 94,661
Other creditors 26,981 36,296
359,242 292,972

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Finance leases 200,479 119,167