BrightAccountsProduction v1.0.0 v1.0.0 2023-04-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is farming. 19 March 2025 2 2 NI668556 2024-03-31 NI668556 2023-03-31 NI668556 2022-03-31 NI668556 2023-04-01 2024-03-31 NI668556 2022-04-01 2023-03-31 NI668556 uk-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI668556 uk-curr:PoundSterling 2023-04-01 2024-03-31 NI668556 uk-bus:AbridgedAccounts 2023-04-01 2024-03-31 NI668556 uk-core:ShareCapital 2024-03-31 NI668556 uk-core:ShareCapital 2023-03-31 NI668556 uk-core:RetainedEarningsAccumulatedLosses 2024-03-31 NI668556 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 NI668556 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-03-31 NI668556 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-03-31 NI668556 uk-bus:FRS102 2023-04-01 2024-03-31 NI668556 uk-core:Goodwill 2023-04-01 2024-03-31 NI668556 uk-core:PlantMachinery 2023-04-01 2024-03-31 NI668556 uk-core:Goodwill 2023-03-31 NI668556 uk-core:Goodwill 2024-03-31 NI668556 2023-04-01 2024-03-31 NI668556 uk-bus:Director1 2023-04-01 2024-03-31 NI668556 uk-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI668556
 
 
PDN Farms Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 March 2024
PDN Farms Ltd
Company Registration Number: NI668556
ABRIDGED BALANCE SHEET
as at 31 March 2024

2024 2023
Notes £ £
 
Fixed Assets
Intangible assets 4 21,415 26,415
Tangible assets 5 47,410 47,960
───────── ─────────
Fixed Assets 68,825 74,375
───────── ─────────
 
Current Assets
Stocks 198,864 79,138
Debtors 127,205 21,770
Cash and cash equivalents 23,394 99,704
───────── ─────────
349,463 200,612
───────── ─────────
Creditors: amounts falling due within one year (89,420) (61,907)
───────── ─────────
Net Current Assets 260,043 138,705
───────── ─────────
Total Assets less Current Liabilities 328,868 213,080
 
Creditors:
amounts falling due after more than one year (36,762) -
───────── ─────────
Net Assets 292,106 213,080
═════════ ═════════
 
Capital and Reserves
Called up share capital 200 200
Retained earnings 291,906 212,880
───────── ─────────
Equity attributable to owners of the company 292,106 213,080
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 19 March 2025 and signed on its behalf by
           
           
________________________________          
Mr. Dermot Nugent          
Director          
           



PDN Farms Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 March 2024

   
1. General Information
 
PDN Farms Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI668556. The registered office of the company is 84 Altaglushan Road, Galbally, Dungannon, Co. Tyrone, BT70 2PL, Northern Ireland which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 March 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Intangible assets
 
Entitlements
Entitlements are valued at cost less accumulated amortisation.
 
Goodwill
Goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 5 years, which is estimated to be the period during which benefits are expected to arise.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 10% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 2, (2023 - 2).
 
  2024 2023
  Number Number
 
Administrative 2 2
  ═════════ ═════════
         
4. Intangible assets
       
  Entitlements Goodwill Total
  £ £ £
Cost
At 1 April 2023 6,324 25,091 31,415
  ───────── ───────── ─────────
 
At 31 March 2024 6,324 25,091 31,415
  ───────── ───────── ─────────
Amortisation
At 1 April 2023 - 5,000 5,000
Charge for financial year - 5,000 5,000
  ───────── ───────── ─────────
At 31 March 2024 - 10,000 10,000
  ───────── ───────── ─────────
Net book value
At 31 March 2024 6,324 15,091 21,415
  ═════════ ═════════ ═════════
At 31 March 2023 6,324 20,091 26,415
  ═════════ ═════════ ═════════
       
5. Tangible assets
  Plant and Total
  machinery  
     
  £ £
Cost
At 1 April 2023 51,645 51,645
Additions 3,300 3,300
  ───────── ─────────
At 31 March 2024 54,945 54,945
  ───────── ─────────
Depreciation
At 1 April 2023 3,685 3,685
Charge for the financial year 3,850 3,850
  ───────── ─────────
At 31 March 2024 7,535 7,535
  ───────── ─────────
Net book value
At 31 March 2024 47,410 47,410
  ═════════ ═════════
At 31 March 2023 47,960 47,960
  ═════════ ═════════
       
6. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 March 2024.
   
7. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.