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Company No: 07892555 (England and Wales)

FARM TECH SUPPLIES LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

FARM TECH SUPPLIES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

Contents

FARM TECH SUPPLIES LTD

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
FARM TECH SUPPLIES LTD

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
DIRECTORS F Baldwin
H Lloyd -Bisley
REGISTERED OFFICE Delta Court Blacknest Industrial Estate
Blacknest Road
Alton
GU34 4PX
United Kingdom
COMPANY NUMBER 07892555 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
Wey Court West
Union Road
Farnham
Surrey
GU9 7PT
FARM TECH SUPPLIES LTD

BALANCE SHEET

AS AT 31 DECEMBER 2024
FARM TECH SUPPLIES LTD

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 142,959 116,695
142,959 116,695
Current assets
Stocks 4 1,202,519 1,091,007
Debtors 5 209,529 69,554
Cash at bank and in hand 6 141,570 245,636
1,553,618 1,406,197
Creditors: amounts falling due within one year 7 ( 336,169) ( 364,059)
Net current assets 1,217,449 1,042,138
Total assets less current liabilities 1,360,408 1,158,833
Creditors: amounts falling due after more than one year 8 ( 20,698) ( 60,698)
Net assets 1,339,710 1,098,135
Capital and reserves
Called-up share capital 9 5,000 5,000
Profit and loss account 1,334,710 1,093,135
Total shareholders' funds 1,339,710 1,098,135

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Farm Tech Supplies Ltd (registered number: 07892555) were approved and authorised for issue by the Board of Directors on 20 May 2025. They were signed on its behalf by:

H Lloyds -bisley
Director
FARM TECH SUPPLIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
FARM TECH SUPPLIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Farm Tech Supplies Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Delta Court Blacknest Industrial Estate, Blacknest Road, Alton, GU34 4PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 5 years straight line
Plant and machinery 5 years straight line
Vehicles 5 years straight line
Fixtures and fittings 5 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the has a present obligation (legal or constructive) as a result of a past event, it is probable that the will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 12 11

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 January 2024 6,805 33,728 178,274 32,462 251,269
Additions 7,307 0 72,566 3,581 83,454
Disposals 0 0 ( 61,035) 0 ( 61,035)
At 31 December 2024 14,112 33,728 189,805 36,043 273,688
Accumulated depreciation
At 01 January 2024 2,775 13,759 96,598 21,442 134,574
Charge for the financial year 1,055 4,204 22,300 4,462 32,021
Disposals 0 0 ( 35,866) 0 ( 35,866)
At 31 December 2024 3,830 17,963 83,032 25,904 130,729
Net book value
At 31 December 2024 10,282 15,765 106,773 10,139 142,959
At 31 December 2023 4,030 19,969 81,676 11,020 116,695

4. Stocks

2024 2023
£ £
Stocks 1,202,519 1,091,007

5. Debtors

2024 2023
£ £
Trade debtors 190,926 69,554
Prepayments 14,403 0
Other debtors 4,200 0
209,529 69,554

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 141,570 245,636

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 40,000 40,000
Trade creditors 137,362 69,997
Accruals 77,403 122,739
Taxation and social security 79,527 88,891
Obligations under finance leases and hire purchase contracts 0 42,432
Other creditors 1,877 0
336,169 364,059

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 20,698 60,698

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
5,000 Ordinary shares of £ 1.00 each 5,000 5,000