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Registered number: 01495397
Farmingacre Limited
Directors' Report and
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Company Information 1
Directors' Report 2
Profit and Loss Account 3
Balance Sheet 4—5
Statement of Changes in Equity 6
Notes to the Financial Statements 7—9
Page 1
Company Information
Directors Roy Tucker
Annabel Tucker
Company Number 01495397
Registered Office Nettlestead Place
Maidstone Road
Maidstone
Kent
ME18 5HA
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 31 August 2024.
Directors
The directors who held office during the year were as follows:
Roy Tucker
Annabel Tucker
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to: 
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small Company Rules
This report has 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.
On behalf of the board
Roy Tucker
Director
20/05/2025
Page 2
Page 3
Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 165,328 338,190
Cost of sales (39,822 ) (81,558 )
GROSS PROFIT 125,506 256,632
Administrative expenses (51,539 ) (142,627 )
OPERATING PROFIT 73,967 114,005
Amounts written off investments (107,286 ) (71,377 )
(LOSS)/PROFIT FOR THE FINANCIAL YEAR (33,319 ) 42,628
The notes on pages 7 to 9 form part of these financial statements.
Page 3
Page 4
Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 25,011 30,400
Investments 5 30,000 130,097
55,011 160,497
CURRENT ASSETS
Stocks 6 31,852 35,412
Debtors 7 120,461 217,850
Cash at bank and in hand 18,178 296,080
170,491 549,342
Creditors: Amounts Falling Due Within One Year 8 (72,870 ) (78,781 )
NET CURRENT ASSETS (LIABILITIES) 97,621 470,561
TOTAL ASSETS LESS CURRENT LIABILITIES 152,632 631,058
Creditors: Amounts Falling Due After More Than One Year 9 (375,624 ) (820,731 )
NET LIABILITIES (222,992 ) (189,673 )
CAPITAL AND RESERVES
Called up share capital 10 1,375 1,375
Share premium account 49,000 49,000
Profit and Loss Account (273,367 ) (240,048 )
SHAREHOLDERS' FUNDS (222,992) (189,673)
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Page 5
For the 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.
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 in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors on 20 May 2025 and were signed on its behalf by:
Roy Tucker
Director
20/05/2025
The notes on pages 7 to 9 form part of these financial statements.
Page 5
Page 6
Statement of Changes in Equity
Share Capital Share Premium Profit and Loss Account Total
£ £ £ £
As at 1 September 2022 1,375 49,000 (282,676 ) (232,301)
Profit for the year and total comprehensive income - - 42,628 42,628
As at 31 August 2023 and 1 September 2023 1,375 49,000 (240,048 ) (189,673)
Loss for the year and total comprehensive income - - (33,319 ) (33,319)
As at 31 August 2024 1,375 49,000 (273,367 ) (222,992)
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Page 7
Notes to the Financial Statements
1. General Information
Farmingacre Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01495397 . The registered office is Nettlestead Place, Maidstone Road, Maidstone, Kent, ME18 5HA.
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 derived from the provision of goods and services falling within the Company's ordinary activities excluding value added tax together with the related subsidies with in the CAP regulations.
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:
Leasehold 2% on cost
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
2.4. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. In respect of crops harvested, cost is deemed to be 75% of net realisable value.
2.5. Government Grant
Grants are written off at the same rate as the assets to which they relate.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2023 28,090 70,890 7,300 9,039 115,319
As at 31 August 2024 28,090 70,890 7,300 9,039 115,319
Depreciation
As at 1 September 2023 23,905 45,395 7,294 8,325 84,919
Provided during the period 561 4,649 - 179 5,389
As at 31 August 2024 24,466 50,044 7,294 8,504 90,308
Net Book Value
As at 31 August 2024 3,624 20,846 6 535 25,011
As at 1 September 2023 4,185 25,495 6 714 30,400
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Note: In the year ended 31 August 2021 the Company reallocated equipment with a cost of £47,717 and accumulated depreciation of £34,082 from leased assets to plant and equipment as this equipment is now being used in the Company's own business.  Due to difficulties in applying the accounting software to the transaction, the accounting treatment reflecting the transaction resulted in the original cost and the accumulated depreciation as shown in the account at 31 August 2021 both being understated by £34,082. In order to correct this the comparitive figures for 31 August 2021 have been adjusted so that the original cost of plant and equipment and the accumulated depreciation charge thereon have both been increased by £34,082.  The net book value is unaffected.
5. Investments
Unlisted
£
Cost
As at 1 September 2023 565,763
As at 31 August 2024 565,763
Provision
As at 1 September 2023 435,666
Revaluations 100,097
As at 31 August 2024 535,763
Net Book Value
As at 31 August 2024 30,000
As at 1 September 2023 130,097
6. Stocks
2024 2023
£ £
Stock 31,852 35,412
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 50,341 76,718
Other debtors 70,120 135,641
VAT - 5,491
120,461 217,850
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 21,502 35,656
Corporation tax - 12
Other creditors 3,869 30,350
Directors' loan accounts 47,499 12,763
72,870 78,781
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 375,624 820,000
Government grants after one year - 731
375,624 820,731
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,375 1,375
11. Related Party Transactions
The Company carried out business throughout the year with RC Tucker and AH Tucker, director/controlling shareholder and director of the Company respectively, in their capacity as sole traders.  At the balance sheet date a sum of £22,086 included in other creditors is due to RC Tucker and £19413 is due to AH Tucker.
At the balance sheet date a sum of £315,000 in other creditors due in more than one year is due to RC Tucker and £60,000 is due to AH Tucker.
12. Ultimate Controlling Party
The company's ultimate controlling party is Roy Tucker by virtue of his ownership of 100% of the issued share capital in the company.
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