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REGISTERED NUMBER: 12689518 (England and Wales)















JCC FARMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






JCC FARMS LIMITED (REGISTERED NUMBER: 12689518)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


JCC FARMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: C R Ireland
J W Ireland





REGISTERED OFFICE: Ermine Street Farm
Ancaster
Grantham
Lincolnshire
NG32 3RN





REGISTERED NUMBER: 12689518 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF

JCC FARMS LIMITED (REGISTERED NUMBER: 12689518)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 4 2,532,834 2,614,640

CURRENT ASSETS
Inventories 111,221 251,121
Debtors 5 48,273 11,285
Cash at bank 377,969 176,278
537,463 438,684
CREDITORS
Amounts falling due within one year 6 1,320,318 1,527,632
NET CURRENT LIABILITIES (782,855 ) (1,088,948 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,749,979 1,525,692

CREDITORS
Amounts falling due after more than one year 7 (1,143,316 ) (1,233,355 )

PROVISIONS FOR LIABILITIES (124,128 ) (45,196 )
NET ASSETS 482,535 247,141

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 482,435 247,041
SHAREHOLDERS' FUNDS 482,535 247,141

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:



J W Ireland - Director


JCC FARMS LIMITED (REGISTERED NUMBER: 12689518)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

JCC 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue
Revenue represents net invoiced sales of goods and services, excluding value added tax. Sales of chickens are recognised upon despatch.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Straight line over 15 years
Plant and machinery etc - 33% on cost, 25% on reducing balance and 20% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

Financial instruments
The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts 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 initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


JCC FARMS LIMITED (REGISTERED NUMBER: 12689518)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 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 statement of financial position 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.

Hire purchase and leasing commitments
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 4 (2023 - 4 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 2,724,581 41,856 2,766,437
DEPRECIATION
At 1 October 2023 141,382 10,415 151,797
Charge for year 74,805 7,001 81,806
At 30 September 2024 216,187 17,416 233,603
NET BOOK VALUE
At 30 September 2024 2,508,394 24,440 2,532,834
At 30 September 2023 2,583,199 31,441 2,614,640

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 33,604 950
VAT 8,823 5,159
Prepayments and accrued income 5,846 5,176
48,273 11,285

JCC FARMS LIMITED (REGISTERED NUMBER: 12689518)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 86,475 81,509
Trade creditors 33,989 232,123
Social security and other taxes - 2,725
Other creditors 1,193,845 1,205,182
Accrued expenses 6,009 6,093
1,320,318 1,527,632

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans due in 1 to 2 years 86,476 81,509
Bank loans - 2-5 years 259,428 244,526
Bank loans 797,412 907,320
1,143,316 1,233,355

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 797,412 907,320

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,229,791 1,314,864

The bank loans and overdrafts are secured by a fixed charge over the company's freehold property and book debts together with a floating charge over all other assets.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
80 A Ordinary 1 80 80
20 B Ordinary 1 20 20
100 100

10. GOING CONCERN

The directors consider the company can continue trading as a going concern through the continued provision of related party borrowing and the support thereof.