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Registration number: 00830183

Avon Farmers Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

Avon Farmers Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Avon Farmers Limited

(Registration number: 00830183)
Statement of Financial Position as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

6,407

7,323

Investment property

5

1,489,825

1,489,825

 

1,496,232

1,497,148

Current assets

 

Debtors

6

2,168

2,022

Cash at bank and in hand

 

15,693

28,134

 

17,861

30,156

Creditors: Amounts falling due within one year

7

(603,853)

(629,462)

Net current liabilities

 

(585,992)

(599,306)

Total assets less current liabilities

 

910,240

897,842

Creditors: Amounts falling due after more than one year

7

(2,307)

(7,118)

Provisions for liabilities

(29,112)

(29,342)

Net assets

 

878,821

861,382

Capital and reserves

 

Called up share capital

81,756

81,756

Share premium reserve

3,803

3,803

Revaluation reserve

685,120

685,120

Profit and loss account

108,142

90,703

Shareholders' funds

 

878,821

861,382

 

Avon Farmers Limited

(Registration number: 00830183)
Statement of Financial Position as at 31 January 2025 (continued)

For the financial year ending 31 January 2025 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 their 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 and 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 Statement of Comprehensive Income.

Approved and authorised by the director on 2 June 2025
 


N Girling
Director

 

Avon Farmers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Plym House
3 Longbridge Road
Plymouth
Marsh Mills
Devon
PL6 8LT

Principal activity

The principal activity of the company is that of the rental of owned land and buildings.

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 financial statements are prepared in sterling which is the functional currency of the entity.

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.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for rent under a lease, net of discounts and value added tax.

 

Avon Farmers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

2

Accounting policies (continued)

Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

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 statement of financial position 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

5% straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

 

Avon Farmers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

2

Accounting policies (continued)

Impairment

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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

 

Avon Farmers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

2

Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 February 2024

18,307

18,307

At 31 January 2025

18,307

18,307

Depreciation

At 1 February 2024

10,984

10,984

Charge for the year

916

916

At 31 January 2025

11,900

11,900

Carrying amount

At 31 January 2025

6,407

6,407

At 31 January 2024

7,323

7,323

5

Investment properties

2025
£

At 1 February

1,489,825

At 31 January

1,489,825

There has been no valuation of investment property by an independent valuer.

 

Avon Farmers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

6

Debtors

2025
£

2024
£

Prepayments

2,168

2,022

2,168

2,022

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Loans and borrowings

5,074

5,324

Taxation and social security

6,398

6,754

Accruals and deferred income

2,265

2,580

Other creditors

590,116

614,804

603,853

629,462

The bounce back loan is secured by government guarantee.

Creditors: amounts falling due after more than one year

2025
£

2024
£

Loans and borrowings

2,307

7,118

The bounce back loan is secured by government guarantee.

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Revaluation reserve:

This reserve records the undistributable gains and losses arising on the revaluation of freehold property.

 

Avon Farmers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

9

Related party transactions

Transactions with the director

During the year the directors entered into the following advances and credits with the company:

2025

At 1 February 2024
£

Advances to director
£

Repayments by director
£

At 31 January 2025
£

Director

(614,804)

25,000

(312)

(590,116)

         
       

 

2024

At 1 February 2023
£

Advances to director
£

At 31 January 2024
£

Director

(664,804)

50,000

(614,804)