Registered number
06470595
Poppyfields (Norfolk) Limited
Filleted Accounts
30 June 2024
Poppyfields (Norfolk) Limited
Registered number: 06470595
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 266 766
Current assets
Stocks 102,146 229,371
Debtors 4 20,605 6,075
Cash at bank and in hand 411,655 135,181
534,406 370,627
Creditors: amounts falling due within one year 5 (56,131) (14,593)
Net current assets 478,275 356,034
Total assets less current liabilities 478,541 356,800
Provisions for liabilities (51) (146)
Net assets 478,490 356,654
Capital and reserves
Called up share capital 2 2
Profit and loss account 478,488 356,652
Shareholders' funds 478,490 356,654
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T.J.Harper
Director
Approved by the board on 15 March 2025
Poppyfields (Norfolk) Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Fixtures and equipment over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Fixtures and equipment
£
Cost
At 1 July 2023 2,067
At 30 June 2024 2,067
Depreciation
At 1 July 2023 1,301
Charge for the year 500
At 30 June 2024 1,801
Net book value
At 30 June 2024 266
At 30 June 2023 766
4 Debtors 2024 2023
£ £
Other debtors 20,605 6,075
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 55,401 13,850
Other creditors 730 743
56,131 14,593
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
T.J.Harper
Directors account (57) 53,025 (32,612) 20,356
(57) 53,025 (32,612) 20,356
7 Controlling party
The ultimate controlling party is T.J.Harper.
8 Other information
Poppyfields (Norfolk) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Manor Farm
Manor Farm Road
East Somerton
Great Yarmouth
NR29 4DY
Poppyfields (Norfolk) Limited 06470595 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts July 2024 T.J.Harper No description of principal activity 06470595 2022-07-01 2023-06-30 06470595 core:WithinOneYear 2023-06-30 06470595 core:ShareCapital 2023-06-30 06470595 core:RetainedEarningsAccumulatedLosses 2023-06-30 06470595 2023-07-01 2024-06-30 06470595 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06470595 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 06470595 bus:Director40 2023-07-01 2024-06-30 06470595 1 2023-07-01 2024-06-30 06470595 2 2023-07-01 2024-06-30 06470595 core:PlantMachinery 2023-07-01 2024-06-30 06470595 bus:Director1 2023-07-01 2024-06-30 06470595 bus:Director1 1 2023-07-01 2024-06-30 06470595 countries:England 2023-07-01 2024-06-30 06470595 bus:FRS102 2023-07-01 2024-06-30 06470595 bus:FilletedAccounts 2023-07-01 2024-06-30 06470595 2024-06-30 06470595 core:WithinOneYear 2024-06-30 06470595 core:ShareCapital 2024-06-30 06470595 core:RetainedEarningsAccumulatedLosses 2024-06-30 06470595 core:PlantMachinery 2024-06-30 06470595 bus:Director1 1 2024-06-30 06470595 2023-06-30 06470595 core:PlantMachinery 2023-06-30 06470595 bus:Director1 1 2023-06-30 iso4217:GBP xbrli:pure