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COMPANY REGISTRATION NUMBER: 5915803
North Down Farm Limited
Filleted Unaudited Financial Statements
31 August 2024
North Down Farm Limited
Financial Statements
Year ended 31 August 2024
Contents
Pages
Statement of financial position
1
Notes to the financial statements
2 to 4
North Down Farm Limited
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
2,735
Current assets
Cash at bank and in hand
1,834
Creditors: amounts falling due within one year
5
( 5,063)
( 7,253)
-------
-------
Net current liabilities
( 5,063)
( 5,419)
-------
-------
Total assets less current liabilities
( 5,063)
( 2,684)
-------
-------
Capital and reserves
Called up share capital
6
100
100
Profit and loss account
( 5,163)
( 2,784)
-------
-------
Shareholders deficit
( 5,063)
( 2,684)
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 April 2025 , and are signed on behalf of the board by:
Mrs T Hodgson
Director
Company registration number: 5915803
North Down Farm Limited
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hamilton House, Hamilton Terrace, Milford Haven, Pembrokeshire, SA73 3JP.
2. Statement of compliance
These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery
-
25% reducing balance
Fixtures and Fittings
-
25% reducing balance
Office Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Tangible assets
Plant and Machinery
Fixtures and Fittings
Office Equipment
Total
£
£
£
£
Cost
At 1 September 2023
7,299
8,367
2,098
17,764
Disposals
( 7,299)
( 8,367)
( 2,098)
( 17,764)
-------
-------
-------
--------
At 31 August 2024
-------
-------
-------
--------
Depreciation
At 1 September 2023
5,994
7,218
1,817
15,029
Disposals
( 5,994)
( 7,218)
( 1,817)
( 15,029)
-------
-------
-------
--------
At 31 August 2024
-------
-------
-------
--------
Carrying amount
At 31 August 2024
-------
-------
-------
--------
At 31 August 2023
1,305
1,149
281
2,735
-------
-------
-------
--------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
5,063
7,253
-------
-------
6. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
7. Related party transactions
The company was under the control of Mrs T Hodgson , the managing director, and members of her close family throughout the current and previous year, by virtue of their 100% interest in the company's issued share capital.