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Registered number: 00415543
Moortown Farms Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Hub Accountants Limited
Chartered Accountants
1C Fridays Court
3-5 High Street
Ringwood
Hampshire
BH24 1AB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 00415543
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 324,324 287,382
324,324 287,382
CURRENT ASSETS
Debtors 5 693,085 698,251
Cash at bank and in hand 92,561 100,178
785,646 798,429
Creditors: Amounts Falling Due Within One Year 6 (41,920 ) (41,445 )
NET CURRENT ASSETS (LIABILITIES) 743,726 756,984
TOTAL ASSETS LESS CURRENT LIABILITIES 1,068,050 1,044,366
Creditors: Amounts Falling Due After More Than One Year 7 (318,957 ) (295,057 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (34,733 ) (31,650 )
NET ASSETS 714,360 717,659
CAPITAL AND RESERVES
Called up share capital 9 30 30
Profit and Loss Account 714,330 717,629
SHAREHOLDERS' FUNDS 714,360 717,659
Page 1
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For the year ending 31 March 2025 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Richard Pierson
Director
2nd May 2025
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Moortown Farms Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00415543 . The registered office is First Floor, 2A Highfield Road, Ringwood, BH24 1RQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents amounts receivable for storage and hire income net of VAT.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Nil
Leasehold 15% Reducing balance
Plant & Machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
Computer Equipment 33.33% Straight line basis
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2024: 3)
3 3
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 April 2024 160,783 99,417 246,298 825
Additions - - 70,837 16,148
As at 31 March 2025 160,783 99,417 317,135 16,973
...CONTINUED
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Depreciation
As at 1 April 2024 - 70,504 164,636 629
Provided during the period - 4,303 38,125 4,086
As at 31 March 2025 - 74,807 202,761 4,715
Net Book Value
As at 31 March 2025 160,783 24,610 114,374 12,258
As at 1 April 2024 160,783 28,913 81,662 196
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2024 35,996 1,021 544,340
Additions - 373 87,358
As at 31 March 2025 35,996 1,394 631,698
Depreciation
As at 1 April 2024 20,810 379 256,958
Provided during the period 3,796 106 50,416
As at 31 March 2025 24,606 485 307,374
Net Book Value
As at 31 March 2025 11,390 909 324,324
As at 1 April 2024 15,186 642 287,382
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 9,758 8,445
Prepayments and accrued income 123 102
9,881 8,547
Due after more than one year
Amounts owed by group undertakings 683,204 689,704
693,085 698,251
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6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 2,629 2,629
Corporation tax 8,625 25,119
VAT 5,152 9,119
Accruals and deferred income 1,630 1,630
Directors' loan accounts 23,884 2,948
41,920 41,445
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 355 3,155
Amounts owed to group undertakings 318,602 291,902
318,957 295,057
8. Secured Creditors
Hire purchase liabilities are secured against the assets to which they relate.
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 2,984 5,880
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 30 30
10. Dividends
2025 2024
£ £
On equity shares:
Interim dividend paid 73,200 52,400
11. Related Party Transactions
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.
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12. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is RSCP Limited, a company incorporated in England which owns 100% of the share capital.
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