Company registration number 13492996 (England and Wales)
NANT HELYG FARM LIMITED
Unaudited Financial Statements
for the Year Ended 31 July 2024
NANT HELYG FARM LIMITED
CONTENTS
Page
Company Information
1
Balance sheet
2
Notes to the financial statements
3 - 5
NANT HELYG FARM LIMITED
Company Information
- 1 -
Directors
Mr C J Duffy
Mrs N K Duffy
Company number
13492996
Registered office
20-22 Wenlock Road
London
UK
N1 7GU
Accountants
Mitchell Associates Ltd
St Davids House
48 Free Street
Brecon
Powys
UK
LD3 7BN
NANT HELYG FARM LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
43,543
21,571
Current assets
Stocks
11,250
-
Debtors
2,463
1,225
Cash at bank and in hand
474
32,477
14,187
33,702
Creditors: amounts falling due within one year
4
(151,854)
(109,480)
Net current liabilities
(137,667)
(75,778)
Net liabilities
(94,124)
(54,207)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(94,126)
(54,209)
Total equity
(94,124)
(54,207)

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

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 17 April 2025 and are signed on its behalf by:
Mr C J Duffy
Director
Company registration number 13492996 (England and Wales)
NANT HELYG FARM LIMITED
Notes to the Financial Statements
For the Year Ended 31 July 2024
- 3 -
1
Accounting policies
Company information

Nant Helyg Farm Limited is a private company limited by shares incorporated in England and Wales. The registered office is 20-22 Wenlock Road, London, UK, N1 7GU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

1.3
Turnover

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

 

The company recognises Turnover when:

The amount of Turnover 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.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Property improvements
20% reducing balance
Plant and equipment
25% reducing balance
Computers
20% reducing balance
Motor vehicles
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

NANT HELYG FARM LIMITED
Notes to the Financial Statements
For the Year Ended 31 July 2024
1
Accounting policies
- 4 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.10
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

NANT HELYG FARM LIMITED
Notes to the Financial Statements
For the Year Ended 31 July 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Property improvements
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 August 2023
12,820
9,213
158
5,000
27,191
Additions
8,470
16,525
-
0
7,500
32,495
Disposals
-
0
-
0
-
0
(5,000)
(5,000)
At 31 July 2024
21,290
25,738
158
7,500
54,686
Depreciation and impairment
At 1 August 2023
641
3,304
8
1,667
5,620
Depreciation charged in the year
3,283
3,502
30
375
7,190
Eliminated in respect of disposals
-
0
-
0
-
0
(1,667)
(1,667)
At 31 July 2024
3,924
6,806
38
375
11,143
Carrying amount
At 31 July 2024
17,366
18,932
120
7,125
43,543
At 31 July 2023
12,179
5,909
150
3,333
21,571
4
Creditors: amounts falling due within one year
2024
2023
£
£
Other borrowings
6,999
-
0
Trade creditors
1,398
-
0
Other creditors
139,662
106,515
Accruals and deferred income
3,795
2,965
151,854
109,480
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