Company registration number 08768182 (England and Wales)
MEADOW AGRICULTURE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
MEADOW AGRICULTURE LIMITED
COMPANY INFORMATION
Directors
K E Cressey
T R Cressey
C E H Holehouse
R P Holehouse
Company number
08768182
Registered office
Fernwood House
Fernwood Drive
Main Road
Watnall
Nottingham
NG16 1LA
Accountants
UHY Hacker Young
14 Park Row
Nottingham
NG1 6GR
MEADOW AGRICULTURE LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MEADOW AGRICULTURE LIMITED FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Meadow Agriculture Limited for the year ended 30 September 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Meadow Agriculture Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Meadow Agriculture Limited and state those matters that we have agreed to state to the Board of Directors of Meadow Agriculture Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Meadow Agriculture Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Meadow Agriculture Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Meadow Agriculture Limited. You consider that Meadow Agriculture Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Meadow Agriculture Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
UHY Hacker Young
2 May 2025
Chartered Accountants
MEADOW AGRICULTURE LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,136,303
6,158,477
Current assets
Stocks
4
66,345
202,586
Debtors
5
29,518
83,745
Cash at bank and in hand
295,968
263,412
391,831
549,743
Creditors: amounts falling due within one year
6
(1,031,010)
(1,038,296)
Net current liabilities
(639,179)
(488,553)
Net assets
5,497,124
5,669,924
Capital and reserves
Called up share capital
4
4
Profit and loss reserves
5,497,120
5,669,920
Total equity
5,497,124
5,669,924
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
MEADOW AGRICULTURE LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
30 September 2024
2024
2023
Notes
£
£
£
£
Fixed assets
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 30 April 2025 and are signed on its behalf by:
K E Cressey
C E H Holehouse
Director
Director
Company Registration No. 08768182
MEADOW AGRICULTURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
1
Accounting policies
Company information
Meadow Agriculture Limited is a private company limited by shares incorporated in England and Wales. The registered office is Fernwood House, Fernwood Drive, Main Road, Watnall, Nottingham, NG16 1LA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised, and shown net of VAT, when the significant risks and rewards of ownership of goods have transferred to the buyer, this is usually at the point that the customer has signed for delivery of the goods.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
No depreciation charged on land
Plant and equipment
20% on cost and 4% on cost
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.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
MEADOW AGRICULTURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
4
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 October 2023
4,556,613
2,140,370
6,696,983
Additions
68,170
68,170
At 30 September 2024
4,556,613
2,208,540
6,765,153
Depreciation and impairment
At 1 October 2023
538,506
538,506
Depreciation charged in the year
90,344
90,344
At 30 September 2024
628,850
628,850
Carrying amount
At 30 September 2024
4,556,613
1,579,690
6,136,303
At 30 September 2023
4,556,613
1,601,864
6,158,477
4
Stocks
2024
2023
£
£
Stocks
66,345
202,586
MEADOW AGRICULTURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1
54,320
Corporation tax recoverable
12,500
12,500
Other debtors
17,017
16,925
29,518
83,745
6
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
1,000,000
1,000,000
Other creditors
31,010
38,296
1,031,010
1,038,296
7
Related party transactions
As at the balance sheet date the total amount owed to a connected company by Meadow Agriculture Limited was £1,000,000 (2023 - £1,000,000) and is included within other creditors falling due within one year.
One of the directors owns a parcel of land personally which is farmed by Meadow Agriculture Limited and for which no rent is charged by the director.