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REGISTERED NUMBER: 02194034 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

NATIONS FARM LIMITED

NATIONS FARM LIMITED (REGISTERED NUMBER: 02194034)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

NATIONS FARM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: G L Gamblin
C P Gamblin
Mrs A L Gamblin
Mrs A H Gamblin





SECRETARY: G L Gamblin





REGISTERED OFFICE: Nations Farm
Curdridge Lane
Curdridge
Southampton
Hampshire
SO32 2BH





REGISTERED NUMBER: 02194034 (England and Wales)





ACCOUNTANTS: Rothmans LLP
Avebury House
St Peter Street
Winchester
Hampshire
SO23 8BN

NATIONS FARM LIMITED (REGISTERED NUMBER: 02194034)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,993 7,443
Investment property 5 1,770,001 1,770,001
1,776,994 1,777,444

CURRENT ASSETS
Debtors 6 39,238 43,406
Cash at bank 45,543 15,482
84,781 58,888
CREDITORS
Amounts falling due within one year 7 9,407 15,218
NET CURRENT ASSETS 75,374 43,670
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,852,368

1,821,114

PROVISIONS FOR LIABILITIES 321,367 321,447
NET ASSETS 1,531,001 1,499,667

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 1,362,176 1,362,176
Retained earnings 168,725 137,391
SHAREHOLDERS' FUNDS 1,531,001 1,499,667

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

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

NATIONS FARM LIMITED (REGISTERED NUMBER: 02194034)

BALANCE SHEET - continued
31 DECEMBER 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:





C P Gamblin - Director


NATIONS FARM LIMITED (REGISTERED NUMBER: 02194034)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Nations Farm 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant and machinery - 15% reducing balance
Computer equipment - 25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Investment property
Investment property is shown at most recent valuation. Any aggregate amount such as unrealised loss or gains was transfered to the fair value reserve.

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.


NATIONS FARM LIMITED (REGISTERED NUMBER: 02194034)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 20,155
Additions 708
Disposals (155 )
At 31 December 2024 20,708
DEPRECIATION
At 1 January 2024 12,712
Charge for year 1,151
Eliminated on disposal (148 )
At 31 December 2024 13,715
NET BOOK VALUE
At 31 December 2024 6,993
At 31 December 2023 7,443

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024
and 31 December 2024 1,770,001
NET BOOK VALUE
At 31 December 2024 1,770,001
At 31 December 2023 1,770,001

NATIONS FARM LIMITED (REGISTERED NUMBER: 02194034)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


5. INVESTMENT PROPERTY - continued

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2023 20,000
Valuation in 2021 100,000
Valuation in 2019 150,000
Valuation in 2017 72,216
Cost 1,427,785
1,770,001

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 98,775 98,775
Aggregate depreciation (28,397 ) (28,397 )

Investment property was valued on an open market basis on 31 December 2024 by the Directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 360
Other debtors 39,238 43,046
39,238 43,406

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 57 804
Taxation and social security 5,728 6,249
Other creditors 3,622 8,165
9,407 15,218

8. RESERVES
Fair
value
reserve
£   
At 1 January 2024
and 31 December 2024 1,362,176

NATIONS FARM LIMITED (REGISTERED NUMBER: 02194034)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
G L Gamblin
Balance outstanding at start of year (126 ) (126 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (126 ) (126 )

C P Gamblin
Balance outstanding at start of year (94 ) (94 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (94 ) (94 )

This loan has been provided interest free and is repayable on demand.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
NATIONS FARM 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 Nations Farm Limited for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes 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 Nations Farm 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 Nations Farm Limited and state those matters that we have agreed to state to the Board of Directors of Nations Farm 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 Nations Farm Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Nations Farm 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 Nations Farm Limited. You consider that Nations Farm 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 Nations Farm 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.






Rothmans LLP
Avebury House
St Peter Street
Winchester
Hampshire
SO23 8BN


21 March 2025