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
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
Dullam & Co (Farmers) Ltd
Statement of financial position
as at 30 September 2024
Tangible assets
35,015
33,866
Inventories
149,800
102,000
Cash at bank and in hand
1,536
1,821
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)
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
Dullam & Co (Farmers) Ltd
Notes to the Accounts
for the year ended 30 September 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
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.
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.
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
Disposals
-
(1,068)
-
(1,068)
At 30 September 2024
6,236
26,423
41,185
73,844
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
At 30 September 2024
6,236
15,291
13,488
35,015
At 30 September 2023
6,236
12,643
14,987
33,866
Amounts falling due within one year
Trade debtors
40,800
21,200
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
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
-
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.
Dullam & Co (Farmers) Ltd
Notes to the Accounts
for the year ended 30 September 2024
8
Provisions for liabilities
£
Provisions made during the period
35,090
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.
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).