Difuria Farming Limited 10232934 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is Farming Digita Accounts Production Advanced 6.30.9574.0 true 10232934 2023-07-01 2024-06-30 10232934 2024-06-30 10232934 core:RetainedEarningsAccumulatedLosses 2024-06-30 10232934 core:ShareCapital 2024-06-30 10232934 core:CurrentFinancialInstruments 2024-06-30 10232934 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 10232934 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 10232934 core:PlantMachinery 2024-06-30 10232934 bus:SmallEntities 2023-07-01 2024-06-30 10232934 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 10232934 bus:FilletedAccounts 2023-07-01 2024-06-30 10232934 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 10232934 bus:Director2 2023-07-01 2024-06-30 10232934 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10232934 core:LandBuildings 2023-07-01 2024-06-30 10232934 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10232934 core:PlantMachinery 2023-07-01 2024-06-30 10232934 countries:AllCountries 2023-07-01 2024-06-30 10232934 2023-06-30 10232934 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 10232934 core:PlantMachinery 2023-06-30 10232934 2022-07-01 2023-06-30 10232934 2023-06-30 10232934 core:RetainedEarningsAccumulatedLosses 2023-06-30 10232934 core:ShareCapital 2023-06-30 10232934 core:CurrentFinancialInstruments 2023-06-30 10232934 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 10232934 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 10232934 core:PlantMachinery 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 10232934

Difuria Farming Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Difuria Farming Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Difuria Farming Limited

(Registration number: 10232934)

Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

318,551

305,304

Current assets

 

Debtors

4

22,946

27,801

Cash at bank and in hand

 

59,472

212,260

 

82,418

240,061

Creditors: Amounts falling due within one year

5

(234,629)

(459,562)

Net current liabilities

 

(152,211)

(219,501)

Total assets less current liabilities

 

166,340

85,803

Provisions for liabilities

(9,388)

(6,076)

Net assets

 

156,952

79,727

Capital and reserves

 

Called up share capital

100

100

Retained earnings

156,852

79,627

Shareholders' funds

 

156,952

79,727

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 26 March 2025 and signed on its behalf by:
 

.........................................

Mr S Difuria

Director

 

Difuria Farming Limited

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

1

Accounting policies

Statutory information

Difuria Farming Limited is a private company, limited by shares, domiciled in England and Wales, company number 10232934. The registered office is at Paddock Farm, Wood Lane, Beckingham, Doncaster, DN10 4NR.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover represents amounts chargeable in respect of rental income and revenues receivable from farming operations.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Difuria Farming Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

1

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land

Not depreciated

Plant and Machinery

20% Reducing Balance

Investment property

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRS 102 1A, as follows:

No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Difuria Farming Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

3

Tangible assets

Land
£

Plant and machinery
£

Total
£

Cost

At 1 July 2023

280,998

37,474

318,472

Additions

-

18,400

18,400

At 30 June 2024

280,998

55,874

336,872

Depreciation

At 1 July 2023

-

13,168

13,168

Charge for the year

-

5,153

5,153

At 30 June 2024

-

18,321

18,321

Carrying amount

At 30 June 2024

280,998

37,553

318,551

At 30 June 2023

280,998

24,306

305,304

4

Debtors

2024
£

2023
£

Trade debtors

19,271

27,801

Prepayments

3,675

-

 

22,946

27,801

 

Difuria Farming Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

5

Creditors

2024
£

2023
£

Due within one year

Trade creditors

325

15,743

Taxation and social security

25,027

8,800

Accruals and deferred income

16,307

2,050

Other creditors

192,970

432,969

234,629

459,562