REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements for the Year Ended 31 December 2024 |
for |
Jennings Farms Limited |
REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements for the Year Ended 31 December 2024 |
for |
Jennings Farms Limited |
Jennings Farms Limited (Registered number: 12579720) |
Contents of the Financial Statements |
for the Year Ended 31 December 2024 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Chartered Certified Accountants' Report | 3 |
Profit and Loss Account | 4 |
Balance Sheet | 5 |
Statement of Changes in Equity | 7 |
Notes to the Financial Statements | 8 |
Jennings Farms Limited |
Company Information |
for the Year Ended 31 December 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
30 Bankside Court |
Stationfields |
Kidlington |
Oxford |
OX5 1JE |
Jennings Farms Limited (Registered number: 12579720) |
Report of the Directors |
for the Year Ended 31 December 2024 |
The directors present their report with the financial statements of the company for the year ended 31 December 2024. |
CESSATION OF TRADING |
The company ceased trading on 31 December 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of Commercial property letting. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Chartered Certified Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Jennings Farms Limited |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Jennings Farms Limited for the year ended 31 December 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
This report is made solely to the Board of Directors of Jennings Farms Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Jennings Farms Limited and state those matters that we have agreed to state to the Board of Directors of Jennings Farms Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at |
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. |
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Jennings Farms Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Jennings Farms Limited. You consider that Jennings Farms Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Jennings Farms Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
30 Bankside Court |
Stationfields |
Kidlington |
Oxford |
OX5 1JE |
Date: ............................................. |
Jennings Farms Limited (Registered number: 12579720) |
Profit and Loss Account |
for the Year Ended 31 December 2024 |
31/12/24 | 31/12/23 |
Notes | £ | £ |
TURNOVER |
Cost of sales | ( |
) | ( |
) |
GROSS PROFIT |
Administrative expenses | ( |
) | ( |
) |
(94,438 | ) | 15,708 |
Other operating income |
Gain/loss on revaluation of tangible assets |
- |
(7,188 |
) |
OPERATING PROFIT |
Interest receivable and similar income |
599,252 | 8,520 |
Interest payable and similar expenses | ( |
) |
PROFIT BEFORE TAXATION |
Tax on profit | 4 | ( |
) |
PROFIT FOR THE FINANCIAL YEAR |
Jennings Farms Limited (Registered number: 12579720) |
Balance Sheet |
31 December 2024 |
31/12/24 | 31/12/23 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves |
Retained earnings |
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. |
Jennings Farms Limited (Registered number: 12579720) |
Balance Sheet - continued |
31 December 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Jennings Farms Limited (Registered number: 12579720) |
Statement of Changes in Equity |
for the Year Ended 31 December 2024 |
Called up |
share | Retained | Other | Total |
capital | earnings | reserves | equity |
£ | £ | £ | £ |
Balance at 1 January 2023 |
Changes in equity |
Total comprehensive income | - |
Balance at 31 December 2023 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - | ( |
) |
Balance at 31 December 2024 |
Jennings Farms Limited (Registered number: 12579720) |
Notes to the Financial Statements |
for the Year Ended 31 December 2024 |
1. | STATUTORY INFORMATION |
Jennings Farms Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company has ceased trading and will be wound up on a solvent basis. Therefore the going concern basis is not appropriate and all balance sheet items are measured at realisable value as at the period end. |
The financial statements are prepared in sterling, which is the functional currency of the entity. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date. |
Jennings Farms Limited (Registered number: 12579720) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Parent company |
The company is a wholly owned subsidary of J W Jennings Limited |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TAXATION |
Analysis of the tax (credit)/charge |
The tax (credit)/charge on the profit for the year was as follows: |
31/12/24 | 31/12/23 |
£ | £ |
Current tax: |
UK corporation tax |
Deferred tax | ( |
) | ( |
) |
Tax on profit | ( |
) |
Jennings Farms Limited (Registered number: 12579720) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2024 |
Disposals | ( |
) |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/24 | 31/12/23 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/24 | 31/12/23 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |