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Registration number: 07736547

L C Farming Services Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

L C Farming Services Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

L C Farming Services Limited

Company Information

Director

Mr L Coulthard

Registered office

8 High Street
Heathfield
East Sussex
TN21 8LS

Accountants

Manningtons
Victoria House The Moor
Hawkhurst
Cranbrook
Kent
TN18 4NR

 

L C Farming Services Limited

(Registration number: 07736547)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

19,854

24,817

Current assets

 

Debtors

5

90,931

30,313

Cash at bank and in hand

 

56

220

 

90,987

30,533

Creditors: Amounts falling due within one year

6

(181,191)

(189,384)

Net current liabilities

 

(90,204)

(158,851)

Total assets less current liabilities

 

(70,350)

(134,034)

Provisions for liabilities

(3,772)

(4,715)

Net liabilities

 

(74,122)

(138,749)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(74,222)

(138,849)

Shareholders' deficit

 

(74,122)

(138,749)

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.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 May 2025
 

.........................................
Mr L Coulthard
Director

 

L C Farming Services 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 & Wales.

The address of its registered office is:
8 High Street
Heathfield
East Sussex
TN21 8LS
England

The principal place of business is:
2 Hither Field
Charing
Ashford
Kent
TN27 0HZ

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.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

L C Farming Services Limited

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

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

Plant and machinery

20% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

L C Farming Services Limited

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2023

170,748

170,748

At 31 August 2024

170,748

170,748

Depreciation

At 1 September 2023

145,931

145,931

Charge for the year

4,963

4,963

At 31 August 2024

150,894

150,894

Carrying amount

At 31 August 2024

19,854

19,854

At 31 August 2023

24,817

24,817

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

31,901

30,225

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

7

58,998

-

Taxation and social security

 

32

88

 

90,931

30,313

 

L C Farming Services Limited

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

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,784

6,009

Accruals and deferred income

1,500

1,513

Other creditors

514

11,890

Director loan account

177,393

169,972

181,191

189,384

7

Related party transactions

Summary of transactions with other related parties

Masterclass Developments Ltd & Phoenix Fencing Ltd
L Coulthard is a director and shareholder

 Provision of farming services
 

Income and receivables from related parties

2024

Other related parties
£

Amounts receivable from related party

58,998

Expenditure with and payables to related parties

2023

Other related parties
£

Amounts payable to related party

11,000