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REGISTERED NUMBER: 12238067 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 October 2024

for

PYL Court Farm Limited

PYL Court Farm Limited (Registered number: 12238067)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


PYL Court Farm Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: P R Yates
C Yates





REGISTERED OFFICE: Suite 1 Liberty House
South Liberty Lane
Bristol
BS3 2ST





REGISTERED NUMBER: 12238067 (England and Wales)





ACCOUNTANTS: Stanley Joseph Limited
Chartered Accountants
Suite 1
Liberty House
South Liberty Lane
Bristol
BS3 2ST

PYL Court Farm Limited (Registered number: 12238067)

Statement of Financial Position
31 October 2024

31.10.24 31.10.23
Notes £    £   
CURRENT ASSETS
Debtors 4 1,200 1,200
Cash at bank - 108
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,200

1,308

CAPITAL AND RESERVES
Called up share capital 1,200 1,200
Retained earnings - 108
1,200 1,308

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

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

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 8 April 2025 and were signed on its behalf by:




P R Yates - Director


PYL Court Farm Limited (Registered number: 12238067)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

PYL Court Farm 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.

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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Estimates are based on historical experience and other assumptions that are considered reasonable in the circumstances. The actual amount or values may vary in certain instances from the assumptions and estimates made. Changes will be recorded, with corresponding effect in profit or loss, if and when better information is obtained.

Information about assumptions and estimation uncertainties that have a significant risk of resulting in material adjustment within the next financial year are included below.

Critical judgements that management have made in the process of applying accounting policies disclosed herein and that have a significant effect on the amounts recognised in the financial statements relate to the following:

Stocks and work in progress
Management estimates the net realisable values of stock and work in progress, taking into account the most reliable evidence at each reporting date. The future realisation of these inventories may be affected by future technology or other market-driven changes that may reduce future value.

PYL Court Farm Limited (Registered number: 12238067)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like cash and bank balances, trade debtors and creditors, bank overdrafts, finance leases and hire purchase contracts and loans to or from related and third parties.

A financial asset or financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in the profit and loss immediately.

Any reversals of impairment are recognised in the profit and loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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.

PYL Court Farm Limited (Registered number: 12238067)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Other debtors 1,200 1,200