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COMPANY REGISTRATION NUMBER: NI607410
Bramble Farm Ltd
Filleted Unaudited Financial Statements
31 October 2024
Bramble Farm Ltd
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
987,545
1,012,067
Current assets
Debtors
6
1,057
Cash at bank and in hand
118,826
77,253
---------
--------
119,883
77,253
Creditors: amounts falling due within one year
7
297,721
395,090
---------
---------
Net current liabilities
177,838
317,837
---------
------------
Total assets less current liabilities
809,707
694,230
Creditors: amounts falling due after more than one year
8
300,845
223,753
Provisions
Taxation including deferred tax
43,308
35,063
---------
---------
Net assets
465,554
435,414
---------
---------
Capital and reserves
Called up share capital
200
200
Profit and loss account
465,354
435,214
---------
---------
Shareholders funds
465,554
435,414
---------
---------
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 comprehensive income has not been delivered.
For the year ending 31 October 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 .
Bramble Farm Ltd
Statement of Financial Position (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 10 April 2025 , and are signed on behalf of the board by:
Mrs H Morrison
Mr A Morrison
Director
Director
Company registration number: NI607410
Bramble Farm Ltd
Notes to the Financial Statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 6 Balladoogh Lane, Cookstown, Co Tyrone, BT80 9JH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
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.
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current 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 at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Land and buildings
-
4% straight line
Plant and machinery
-
10% reducing balance
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 3 ).
5. Tangible assets
Land and buildings
Plant and machinery
Total
£
£
£
Cost
At 1 November 2023
899,479
323,344
1,222,823
Additions
23,715
7,940
31,655
---------
---------
------------
At 31 October 2024
923,194
331,284
1,254,478
---------
---------
------------
Depreciation
At 1 November 2023
71,958
138,798
210,756
Charge for the year
36,928
19,249
56,177
---------
---------
------------
At 31 October 2024
108,886
158,047
266,933
---------
---------
------------
Carrying amount
At 31 October 2024
814,308
173,237
987,545
---------
---------
------------
At 31 October 2023
827,521
184,546
1,012,067
---------
---------
------------
6. Debtors
2024
2023
£
£
Other debtors
1,057
-------
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
94,278
102,865
Trade creditors
49,365
5,342
Social security and other taxes
53,796
55,949
Other creditors
100,282
230,934
---------
---------
297,721
395,090
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
300,845
223,753
---------
---------
9. Directors' advances, credits and guarantees
During the year, the directors withdrew a total of £130,652 from the company. The closing balance at the 31 October 2024 of £100,282. (2023: £230,934)