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REGISTERED NUMBER: 04699546 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

RAY DARLEY LIMITED

RAY DARLEY LIMITED (REGISTERED NUMBER: 04699546)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


RAY DARLEY LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: R A Darley
Mrs D Darley





SECRETARY: Mrs D Darley





REGISTERED OFFICE: Low Moor Farm
Rillington
Malton
YO17 8JU





REGISTERED NUMBER: 04699546 (England and Wales)

RAY DARLEY LIMITED (REGISTERED NUMBER: 04699546)

STATEMENT OF FINANCIAL POSITION
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 3,344,081 3,295,727
3,344,081 3,295,727

CURRENT ASSETS
Inventories 163,001 158,506
Debtors 6 191,572 343,360
Cash at bank 325,349 203,325
679,922 705,191
CREDITORS
Amounts falling due within one year 7 815,467 883,550
NET CURRENT LIABILITIES (135,545 ) (178,359 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,208,536

3,117,368

CREDITORS
Amounts falling due after more than one year 8 (915,287 ) (949,671 )

PROVISIONS FOR LIABILITIES (177,608 ) (175,963 )
NET ASSETS 2,115,641 1,991,734

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 2,115,441 1,991,534
2,115,641 1,991,734

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

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

RAY DARLEY LIMITED (REGISTERED NUMBER: 04699546)

STATEMENT OF FINANCIAL POSITION - continued
31 March 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 24 March 2025 and were signed on its behalf by:




R A Darley - Director



Mrs D Darley - Director


RAY DARLEY LIMITED (REGISTERED NUMBER: 04699546)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Ray Darley 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The company has a net asset position and a healthy bank position and the directors are satisfied that there are sufficient resources in place to continue operating for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Significant judgements and estimates
In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

Critical judgements in applying the company's policies
No significant judgements have had to be made by management in preparing these financial statements.

Critical accounting estimates and assumptions
The directors do not consider that any estimates or assumptions used in the preparation of these financial statements have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Revenue
Revenue represents goods and services supplied, excluding value added tax. Revenue is recognised to the extent that the company has obtained the right to consideration through its performance and is measured at the fair value of the right to consideration.

Goodwill
Goodwill is initially measured at cost. After initial recognition, goodwill is measured at cost less any accumulated amortisation and any accumulated impairment losses. Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised.

Property, plant and equipment
Items of property, plant and equipment are initially measured at cost. After initial recognition items of property, plant and equipment are measured at cost less any accumulated depreciation and any accumulated impairment losses.

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

Freehold property- not provided on land
Improvements to property- 2% straight line basis
Leasehold property - over the term of the lease
Tractors and implements- 15% reducing balance basis
Motor vehicles- 25% reducing balance basis
Computer equipment- 33% straight line basis

Inventories
Biological assets, agricultural produce and other inventories are measured at the lower of cost and estimated selling price less costs to complete and sell.

RAY DARLEY LIMITED (REGISTERED NUMBER: 04699546)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade, other accounts receivable and payable and loans to related parties.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised costs using the effective interest method.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Leasing commitments
Operating lease rentals are charged against profits of the period to which they relate.

Pension costs and other post-retirement benefits
Payments to defined contribution pension schemes are charged as an expense in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 60,000
AMORTISATION
At 1 April 2023
and 31 March 2024 60,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

RAY DARLEY LIMITED (REGISTERED NUMBER: 04699546)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


5. PROPERTY, PLANT AND EQUIPMENT
Improvements
Freehold Leasehold to
property property property
£    £    £   
COST
At 1 April 2023 2,588,342 - 11,704
Additions - 41,862 -
Disposals - - -
At 31 March 2024 2,588,342 41,862 11,704
DEPRECIATION
At 1 April 2023 - - 1,972
Charge for year - - 234
Eliminated on disposal - - -
At 31 March 2024 - - 2,206
NET BOOK VALUE
At 31 March 2024 2,588,342 41,862 9,498
At 31 March 2023 2,588,342 - 9,732

Tractors
and Motor Computer
implements vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 1,942,081 54,637 2,514 4,599,278
Additions 188,131 - - 229,993
Disposals (168,000 ) - - (168,000 )
At 31 March 2024 1,962,212 54,637 2,514 4,661,271
DEPRECIATION
At 1 April 2023 1,261,276 37,838 2,465 1,303,551
Charge for year 99,472 4,200 49 103,955
Eliminated on disposal (90,316 ) - - (90,316 )
At 31 March 2024 1,270,432 42,038 2,514 1,317,190
NET BOOK VALUE
At 31 March 2024 691,780 12,599 - 3,344,081
At 31 March 2023 680,805 16,799 49 3,295,727

Included in cost of land and buildings is freehold land of £ 2,588,342 (2023 - £ 2,588,342 ) which is not depreciated.

The net book value of property, plant and equipment includes £ 139,562 (2023 - £ 23,206 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 46,831 242,996
Other debtors 144,741 100,364
191,572 343,360

RAY DARLEY LIMITED (REGISTERED NUMBER: 04699546)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 44,397 33,120
Hire purchase contracts 18,350 9,500
Trade creditors 61,273 65,630
Taxation and social security 54,910 46,910
Other creditors 636,537 728,390
815,467 883,550

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 896,867 949,671
Hire purchase contracts 18,420 -
915,287 949,671

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 702,153 701,147

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 941,264 982,791
Hire purchase contracts 36,770 9,500
978,034 992,291

The loans in respect of the hire purchase agreements are secured against the assets to which they relate.