United Potato Farmers Limited 06824720 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is as a potato merchant. Digita Accounts Production Advanced 6.30.9574.0 true 06824720 2023-08-01 2024-07-31 06824720 2024-07-31 06824720 core:CurrentFinancialInstruments 2024-07-31 06824720 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 06824720 core:FurnitureFittingsToolsEquipment 2024-07-31 06824720 bus:SmallEntities 2023-08-01 2024-07-31 06824720 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 06824720 bus:FilletedAccounts 2023-08-01 2024-07-31 06824720 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 06824720 bus:RegisteredOffice 2023-08-01 2024-07-31 06824720 bus:Director3 2023-08-01 2024-07-31 06824720 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 06824720 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 06824720 core:OfficeEquipment 2023-08-01 2024-07-31 06824720 core:PlantMachinery 2023-08-01 2024-07-31 06824720 countries:EnglandWales 2023-08-01 2024-07-31 06824720 2023-07-31 06824720 core:FurnitureFittingsToolsEquipment 2023-07-31 06824720 2022-08-01 2023-07-31 06824720 2023-07-31 06824720 core:CurrentFinancialInstruments 2023-07-31 06824720 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 06824720 core:FurnitureFittingsToolsEquipment 2023-07-31 iso4217:GBP xbrli:pure

Registration number: 06824720

United Potato Farmers Limited

Annual Report and Unaudited Financial Statements

for the year ended 31 July 2024

 

United Potato Farmers Limited

(Registration number: 06824720)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

368

726

Current assets

 

Debtors

5

684,600

531,002

Cash at bank and in hand

 

131,387

39,921

 

815,987

570,923

Creditors: Amounts falling due within one year

6

(647,543)

(439,921)

Net current assets

 

168,444

131,002

Net assets

 

168,812

131,728

Capital and reserves

 

Called up share capital

6

6

Capital redemption reserve

4

4

Retained earnings

168,802

131,718

Shareholders' funds

 

168,812

131,728

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 9 April 2025 and signed on its behalf by:
 

 

United Potato Farmers Limited

(Registration number: 06824720)
Balance Sheet as at 31 July 2024

.........................................
I R McCartney
Director

 

United Potato Farmers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Estate Office
Hutton Wandesley
YORK
YO26 7LL

These financial statements were authorised for issue by the Board on 9 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The accounts are prepared in UK Sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

United Potato Farmers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

over 3 years

Plant & Machinery

over 3 years

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

United Potato Farmers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Office Equipment and Plant & Machinery
 £

Total
£

Cost or valuation

At 1 August 2023

72,160

72,160

At 31 July 2024

72,160

72,160

Depreciation

At 1 August 2023

71,434

71,434

Charge for the year

358

358

At 31 July 2024

71,792

71,792

Carrying amount

At 31 July 2024

368

368

At 31 July 2023

726

726

5

Debtors

Current

2024
£

2023
£

Trade debtors

676,328

523,121

Prepayments

2,765

2,669

Other debtors

5,507

5,212

 

684,600

531,002

 

United Potato Farmers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

636,358

437,715

Taxation and social security

9,361

678

Accruals and deferred income

1,575

1,500

Other creditors

249

28

647,543

439,921