1 October 2023 false No description of principal activity Taxfiler 2024.6 true 04675028business:PrivateLimitedCompanyLtd2023-10-012024-09-30 046750282023-09-30 046750282023-10-012024-09-30 04675028business:AuditExemptWithAccountantsReport2023-10-012024-09-30 04675028business:FilletedAccounts2023-10-012024-09-30 046750282024-09-30 04675028business:Director12023-10-012024-09-30 04675028business:Director22023-10-012024-09-30 04675028business:Director32023-10-012024-09-30 04675028business:RegisteredOffice2023-10-012024-09-30 046750282023-09-30 04675028core:WithinOneYear2024-09-30 04675028core:WithinOneYear2023-09-30 04675028core:AfterOneYear2024-09-30 04675028core:AfterOneYear2023-09-30 04675028core:ShareCapitalcore:PreviouslyStatedAmount2024-09-30 04675028core:ShareCapitalcore:PreviouslyStatedAmount2023-09-30 04675028core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-09-30 04675028core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-09-30 04675028core:PreviouslyStatedAmount2024-09-30 04675028core:PreviouslyStatedAmount2023-09-30 04675028business:SmallEntities2023-10-012024-09-30 04675028countries:EnglandWales2023-10-012024-09-30 04675028core:PlantMachinery2023-10-012024-09-30 04675028core:MotorVehicles2023-10-012024-09-30 04675028core:LandBuildings2023-09-30 04675028core:PlantMachinery2023-09-30 04675028core:MotorVehicles2023-09-30 04675028core:LandBuildings2023-10-012024-09-30 04675028core:LandBuildings2024-09-30 04675028core:PlantMachinery2024-09-30 04675028core:MotorVehicles2024-09-30 04675028core:AfterOneYear2023-10-012024-09-30 04675028core:OtherProvisionsContingentLiabilities2023-09-30 04675028core:OtherProvisionsContingentLiabilities2023-10-012024-09-30 04675028core:OtherProvisionsContingentLiabilities2024-09-30 04675028business:OrdinaryShareClass12023-10-012024-09-30 04675028business:OrdinaryShareClass12022-10-012023-09-30 046750282022-10-012023-09-30 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 04675028 (England and Wales)
Dullam & Co (Farmers) Ltd Unaudited accounts for the year ended 30 September 2024
Dullam & Co (Farmers) Ltd Unaudited accounts Contents
Page
- 2 -
Dullam & Co (Farmers) Ltd Company Information for the year ended 30 September 2024
Directors
R Dullam P Dullam J Dullam
Company Number
04675028 (England and Wales)
Registered Office
Garliford Bungalow Bishops Nympton South Molton Devon EX36 3QX
Accountants
JD Accountants (South West) Ltd Suite 2, Riverside Court Castle Street Barnstaple Devon EX31 1DR
- 3 -
Dullam & Co (Farmers) Ltd Statement of financial position as at 30 September 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
35,015 
33,866 
Current assets
Inventories
149,800 
102,000 
Debtors
42,630 
25,866 
Cash at bank and in hand
1,536 
1,821 
193,966 
129,687 
Creditors: amounts falling due within one year
(72,830)
(67,429)
Net current assets
121,136 
62,258 
Total assets less current liabilities
156,151 
96,124 
Creditors: amounts falling due after more than one year
(408,063)
(365,915)
Net liabilities
(251,912)
(269,791)
Capital and reserves
Called up share capital
75 
75 
Profit and loss account
(251,987)
(269,866)
Shareholders' funds
(251,912)
(269,791)
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by
R Dullam Director Company Registration No. 04675028
- 4 -
Dullam & Co (Farmers) Ltd Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
Dullam & Co (Farmers) Ltd is a private company, limited by shares, registered in England and Wales, registration number 04675028. The registered office is Garliford Bungalow, Bishops Nympton, South Molton, Devon, EX36 3QX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% Reducing Balance
Motor vehicles
10% Reducing Balance
Going concern
The company's accounts have been prepared on a going concern basis. The company accounts do show net current liabilities of £251,912 (2023 - £269,791). Having reviewed the financial position for the next twelve months, the directors have committed to acting in the best interest of the company first and foremost. At the same time, the directors have committed to not drawing from the company any part of the directors' loan account and are making refinancing arrangements. As a result, the directors believe that the preparation of the company's accounts on a going concern basis continues to be appropriate.
Prior Year Adjustment
The company and its directors have provided for an adjustment to prior years for an overstatement of rental for land used in the business, which has become apparent on the provision of a copy of the tenancy agreement.
- 5 -
Dullam & Co (Farmers) Ltd Notes to the Accounts for the year ended 30 September 2024
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 October 2023
6,236 
22,562 
41,185 
69,983 
Additions
- 
4,929 
- 
4,929 
Disposals
- 
(1,068)
- 
(1,068)
At 30 September 2024
6,236 
26,423 
41,185 
73,844 
Depreciation
At 1 October 2023
- 
9,919 
26,198 
36,117 
Charge for the year
- 
1,690 
1,499 
3,189 
On disposals
- 
(477)
- 
(477)
At 30 September 2024
- 
11,132 
27,697 
38,829 
Net book value
At 30 September 2024
6,236 
15,291 
13,488 
35,015 
At 30 September 2023
6,236 
12,643 
14,987 
33,866 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
1,830 
4,666 
Trade debtors
40,800 
21,200 
42,630 
25,866 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
395 
1,247 
Trade creditors
47,691 
50,774 
Other creditors
2,840 
9,239 
Loans from directors
15,210 
1,006 
Accruals
6,694 
5,163 
72,830 
67,429 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
390,146 
365,915 
Obligations under finance leases and hire purchase contracts
17,917 
- 
408,063 
365,915 
The bank finance and loans are secured with personal guarantees that have been provided by the directors. Of the amounts detailed, £17,917 represents amounts advanced to the company as part of the sale and lease-back of equipment finance arrangement it has entered into. This has been included as a creditor to accurately reflect the substance of the underlying transaction.
- 6 -
Dullam & Co (Farmers) Ltd Notes to the Accounts for the year ended 30 September 2024
8
Provisions for liabilities
£ 
At 1 October 2023
- 
Provisions made during the period
35,090 
Provisions used
(35,090)
At 30 September 2024
- 
The company and its directors have provided for an adjustment to prior years for an overstatement of rental for land used in the business, which has become apparent on the provision of a copy of the tenancy agreement.
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
75 Ordinary shares of £1 each
75 
75 
10
Average number of employees
During the year the average number of employees was 3 (2023: 3).
- 7 -