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REGISTERED NUMBER: 08748147














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

LINGY MOOR FARMING LTD

LINGY MOOR FARMING LTD (REGISTERED NUMBER: 08748147)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LINGY MOOR FARMING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: R T Barker
C P Barker
H R Barker
Mrs J Barker





REGISTERED OFFICE: North Lingy Moor Farm
Moulton
North Yorkshire
DL10 6QN





REGISTERED NUMBER: 08748147





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

LINGY MOOR FARMING LTD (REGISTERED NUMBER: 08748147)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,115,717 960,902
Investment property 5 974,584 974,584
2,090,301 1,935,486

CURRENT ASSETS
Stocks 602,110 423,751
Debtors 6 145,051 177,941
Cash at bank 4,672 -
751,833 601,692
CREDITORS
Amounts falling due within one year 7 752,551 704,873
NET CURRENT LIABILITIES (718 ) (103,181 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,089,583

1,832,305

CREDITORS
Amounts falling due after more than one
year

8

(1,167,362

)

(1,084,421

)

PROVISIONS FOR LIABILITIES (151,378 ) (98,500 )
NET ASSETS 770,843 649,384

CAPITAL AND RESERVES
Called up share capital 10 4,200 4,200
Retained earnings 766,643 645,184
770,843 649,384

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.

LINGY MOOR FARMING LTD (REGISTERED NUMBER: 08748147)

BALANCE SHEET - continued
31 OCTOBER 2024


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 17 March 2025 and were signed on its behalf by:





H R Barker - Director


LINGY MOOR FARMING LTD (REGISTERED NUMBER: 08748147)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Lingy Moor Farming Ltd is a private company, limited by shares , registered in Not specified/Other. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold land and buildings - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Freehold land is currently depreciated at 0%.

The company establishes £1,000 as the threshold amount for minimum capitalisation.

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

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.

LINGY MOOR FARMING LTD (REGISTERED NUMBER: 08748147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Freehold Fixtures
land and Plant and and
buildings machinery fittings
£    £    £   
COST
At 1 November 2023 658,304 738,189 34,001
Additions 143,524 104,425 -
Disposals - (13,398 ) -
At 31 October 2024 801,828 829,216 34,001
DEPRECIATION
At 1 November 2023 75,933 376,959 17,599
Charge for year 13,166 68,427 7,060
Eliminated on disposal - (9,209 ) -
At 31 October 2024 89,099 436,177 24,659
NET BOOK VALUE
At 31 October 2024 712,729 393,039 9,342
At 31 October 2023 582,371 361,230 16,402

LINGY MOOR FARMING LTD (REGISTERED NUMBER: 08748147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2023 10,775 266 1,441,535
Additions - - 247,949
Disposals - - (13,398 )
At 31 October 2024 10,775 266 1,676,086
DEPRECIATION
At 1 November 2023 9,966 176 480,633
Charge for year 202 90 88,945
Eliminated on disposal - - (9,209 )
At 31 October 2024 10,168 266 560,369
NET BOOK VALUE
At 31 October 2024 607 - 1,115,717
At 31 October 2023 809 90 960,902

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 November 2023 151,500
Additions 42,500
At 31 October 2024 194,000
DEPRECIATION
At 1 November 2023 54,355
Charge for year 18,821
At 31 October 2024 73,176
NET BOOK VALUE
At 31 October 2024 120,824
At 31 October 2023 97,145

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 974,584
NET BOOK VALUE
At 31 October 2024 974,584
At 31 October 2023 974,584

LINGY MOOR FARMING LTD (REGISTERED NUMBER: 08748147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

5. INVESTMENT PROPERTY - continued

It is the opinion of the directors that the value of the investment property at the period end date is a true reflection of the fair value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 85,831 112,338
Other debtors 59,220 65,603
145,051 177,941

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts 395,678 339,163
Hire purchase contracts 32,640 22,475
Trade creditors 125,077 53,672
Taxation and social security 54,100 62,430
Other creditors 145,056 227,133
752,551 704,873

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
as restated
£    £   
Bank loans 1,120,937 1,058,509
Hire purchase contracts 17,758 25,912
Other creditors 28,667 -
1,167,362 1,084,421

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
as restated
£    £   
Bank loans 1,205,453 1,150,942
Hire purchase contracts 50,398 48,387
1,255,851 1,199,329

The hire purhase debt is secured on the assets themselves.

The bank loan debt is secured by way of debenture and a freehold 1st legal charge.

LINGY MOOR FARMING LTD (REGISTERED NUMBER: 08748147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
Value: £ £
1,000 A Ordinary £1 1,000 1,000
1,000 B Ordinary £1 1,000 1,000
1,000 C Ordinary £1 1,000 1,000
1,000 D Ordinary £1 1,000 1,000
100 E Ordinary £1 100 100
100 F Ordinary £1 100 100
4,200 4,200

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
as restated
£    £   
H R Barker and Mrs J Barker
Balance outstanding at start of year 1,174 1,376
Amounts advanced - 42,812
Amounts repaid (1,174 ) (43,014 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,174

The directors have provided a personal guarantee for an amount up to £1,417,650 over the bank loans.

12. RELATED PARTY DISCLOSURES

At the balance sheet date, £14,000 (2023: £Nil) was due from a company in which a director is also a director.

During the year the directors made an interest free loan to the company. The balance as at 31 October 2024 was £118,182 (2023: £185,868).