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Registration number: 09724159

Ring House Farm Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Ring House Farm Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Ring House Farm Limited

Company Information

Directors

Mr G Thomas

Mrs MH Thomas

Mr CG Thomas

Registered office

St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA

Accountants

Young & Co
Chartered Accountants
St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA

 

Ring House Farm Limited

(Registration number: 09724159)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

166,274

179,691

Current assets

 

Debtors

5

42,502

5,712

Cash at bank and in hand

 

22,817

21,900

 

65,319

27,612

Creditors: Amounts falling due within one year

6

(125,140)

(108,457)

Net current liabilities

 

(59,821)

(80,845)

Total assets less current liabilities

 

106,453

98,846

Creditors: Amounts falling due after more than one year

6

(63,898)

(75,732)

Provisions for liabilities

(27,376)

(10,557)

Net assets

 

15,179

12,557

Capital and reserves

 

Called up share capital

7

300

300

Retained earnings

14,879

12,257

Shareholders' funds

 

15,179

12,557

For the financial year ending 31 August 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.

 

Ring House Farm Limited

(Registration number: 09724159)
Balance Sheet as at 31 August 2024
(continued)

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 May 2025 and signed on its behalf by:
 

.........................................
Mr G Thomas
Director

 

Ring House Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA
England

The principal place of business is:
Ring House
Fownhope
Hereford
HR1 4PJ

These financial statements were authorised for issue by the Board on 1 May 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.

 

Ring House Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
(continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

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

Freehold land

Nil

Plant and machinery

5% of cost per annum

 

Ring House Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
(continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

The company had total commitments under non-cancellable operating leases over the remaining life of those leases, which are not included in the balance sheet, amount to £19,200 (2023 - £20,800).

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

 

Ring House Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
(continued)

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 September 2023

10,448

268,337

278,785

At 31 August 2024

10,448

268,337

278,785

Depreciation

At 1 September 2023

-

99,094

99,094

Charge for the year

-

13,417

13,417

At 31 August 2024

-

112,511

112,511

Carrying amount

At 31 August 2024

10,448

155,826

166,274

At 31 August 2023

10,448

169,243

179,691

Included within the net book value of land and buildings above is £10,448 (2023 - £10,448) in respect of freehold land and buildings.
 

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

10

29,192

-

Prepayments

 

13,310

4,891

Other debtors

 

-

821

   

42,502

5,712

 

Ring House Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
(continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

21,377

9,444

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

-

6,000

Taxation and social security

 

16,903

1,700

Accruals and deferred income

 

56,672

57,208

Other creditors

 

30,188

34,105

 

125,140

108,457

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

63,898

75,732

 

Ring House Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
(continued)

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

100

100

100

100

Ordinary B shares of £1 each

100

100

100

100

Ordinary C shares of £1 each

100

100

100

100

300

300

300

300

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

63,898

75,732

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £19,200 (2023 - £20,800).

 

Ring House Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
(continued)

10

Related party transactions

Loans to related parties

2024

Other related parties
£

Total
£

At start of period

(6,000)

(6,000)

Advanced

93,600

93,600

Repaid

(58,408)

(58,408)

At end of period

29,192

29,192

2023

Other related parties
£

Total
£

Repaid

(6,000)

(6,000)

At end of period

(6,000)

(6,000)

Terms of loans to related parties

The loan to related party is interest free, unsecured and have no fixed repayment terms.