IRIS Accounts Production v24.3.2.46 12579720 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh125797202023-12-31125797202024-12-31125797202024-01-012024-12-31125797202022-12-31125797202023-01-012023-12-31125797202023-12-3112579720ns15:EnglandWales2024-01-012024-12-3112579720ns14:PoundSterling2024-01-012024-12-3112579720ns10:Director12024-01-012024-12-3112579720ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3112579720ns10:SmallEntities2024-01-012024-12-3112579720ns10:AuditExemptWithAccountantsReport2024-01-012024-12-3112579720ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3112579720ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3112579720ns10:FullAccounts2024-01-012024-12-3112579720ns10:Director22024-01-012024-12-3112579720ns10:Director32024-01-012024-12-3112579720ns10:Director42024-01-012024-12-3112579720ns10:Director52024-01-012024-12-3112579720ns10:RegisteredOffice2024-01-012024-12-3112579720ns5:CurrentFinancialInstruments2024-12-3112579720ns5:CurrentFinancialInstruments2023-12-3112579720ns5:ShareCapital2024-12-3112579720ns5:ShareCapital2023-12-3112579720ns5:FurtherSpecificReserve1ComponentTotalEquity2024-12-3112579720ns5:FurtherSpecificReserve1ComponentTotalEquity2023-12-3112579720ns5:RetainedEarningsAccumulatedLosses2024-12-3112579720ns5:RetainedEarningsAccumulatedLosses2023-12-3112579720ns5:ShareCapital2022-12-3112579720ns5:RetainedEarningsAccumulatedLosses2022-12-3112579720ns5:FurtherSpecificReserve1ComponentTotalEquity2022-12-3112579720ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-3112579720ns5:FurtherSpecificReserve1ComponentTotalEquity2023-01-012023-12-3112579720ns5:RetainedEarningsAccumulatedLosses2024-01-012024-12-3112579720ns5:FurtherSpecificReserve1ComponentTotalEquity2024-01-012024-12-3112579720ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3112579720ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-31
REGISTERED NUMBER: 12579720 (England and Wales)















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: Ms C M Clements
Ms M L Jennings
J M Jennings
Prof R K H Mumby-Croft
L McCormick





REGISTERED OFFICE: Whiteacres Wheatley Road,
Garsington,
Oxford
Oxfordshire
OX44 9DU





REGISTERED NUMBER: 12579720 (England and Wales)





ACCOUNTANTS: Chapman Robinson and Moore Limited
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.

Ms C M Clements
Ms M L Jennings
J M Jennings
Prof R K H Mumby-Croft
L McCormick

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:





Ms M L Jennings - Director


9 April 2025

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.






Chapman Robinson and Moore Limited
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 132,395 179,851

Cost of sales (117,842 ) (126,764 )
GROSS PROFIT 14,553 53,087

Administrative expenses (108,991 ) (37,379 )
(94,438 ) 15,708

Other operating income 688,343 -
Gain/loss on revaluation of tangible
assets

-

(7,188

)
OPERATING PROFIT 593,905 8,520

Interest receivable and similar income 5,347 -
599,252 8,520

Interest payable and similar expenses (92 ) -
PROFIT BEFORE TAXATION 599,160 8,520

Tax on profit 4 30,774 (1,371 )
PROFIT FOR THE FINANCIAL YEAR 629,934 7,149

Jennings Farms Limited (Registered number: 12579720)

Balance Sheet
31 December 2024

31/12/24 31/12/23
Notes £    £   
FIXED ASSETS
Investment property 5 - 3,490,000

CURRENT ASSETS
Debtors 6 829,058 8,506
Cash at bank and in hand 425,204 49,285
1,254,262 57,791
CREDITORS
Amounts falling due within one year 7 (1,254,162 ) (11,054 )
NET CURRENT ASSETS 100 46,737
TOTAL ASSETS LESS CURRENT
LIABILITIES

100

3,536,737

PROVISIONS FOR LIABILITIES - (614,435 )
NET ASSETS 100 2,922,302

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves - 1,025,073
Retained earnings - 1,897,129
100 2,922,302

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

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

Jennings Farms Limited (Registered number: 12579720)

Balance Sheet - continued
31 December 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2025 and were signed on its behalf by:





Ms M L Jennings - Director


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 100 1,889,980 1,025,073 2,915,153

Changes in equity
Total comprehensive income - 7,149 - 7,149
Balance at 31 December 2023 100 1,897,129 1,025,073 2,922,302

Changes in equity
Dividends - (3,552,136 ) - (3,552,136 )
Total comprehensive income - 1,655,007 (1,025,073 ) 629,934
Balance at 31 December 2024 100 - - 100

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 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.

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 (2023 - 5 ) .

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 583,661 3,168

Deferred tax (614,435 ) (1,797 )
Tax on profit (30,774 ) 1,371

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 3,490,000
Disposals (3,490,000 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 3,490,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade debtors - 3,771
Other debtors 829,058 4,735
829,058 8,506

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade creditors - 3,591
Amounts owed to group undertakings 123,793 -
Taxation and social security 723,973 5,023
Other creditors 406,396 2,440
1,254,162 11,054