0 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 31,663 189,608 221,271 2,883 25,999 28,882 192,389 28,780 xbrli:pure xbrli:shares iso4217:GBP 14552856 2024-01-01 2024-12-31 14552856 2024-12-31 14552856 2023-12-31 14552856 2022-12-21 2023-12-31 14552856 2023-12-31 14552856 2022-12-20 14552856 bus:Director1 2024-01-01 2024-12-31 14552856 core:PlantMachinery 2023-12-31 14552856 core:PlantMachinery 2024-12-31 14552856 core:PlantMachinery 2024-01-01 2024-12-31 14552856 core:WithinOneYear 2024-12-31 14552856 core:WithinOneYear 2023-12-31 14552856 core:AfterOneYear 2024-12-31 14552856 core:ShareCapital 2024-12-31 14552856 core:ShareCapital 2023-12-31 14552856 core:RetainedEarningsAccumulatedLosses 2024-12-31 14552856 core:RetainedEarningsAccumulatedLosses 2023-12-31 14552856 core:PlantMachinery 2023-12-31 14552856 bus:SmallEntities 2024-01-01 2024-12-31 14552856 bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 14552856 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 14552856 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 14552856 bus:FullAccounts 2024-01-01 2024-12-31
COMPANY REGISTRATION NUMBER: 14552856
The Fallow Meadow Limited
Filleted Unaudited Financial Statements
31 December 2024
The Fallow Meadow Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
192,389
28,780
Current assets
Debtors
6
6,866
7,269
Cash at bank and in hand
8,341
2,175
--------
-------
15,207
9,444
Prepayments and accrued income
21,026
22,259
Creditors: amounts falling due within one year
7
21,942
106,334
--------
---------
Net current assets/(liabilities)
14,291
( 74,631)
---------
--------
Total assets less current liabilities
206,680
( 45,851)
Creditors: amounts falling due after more than one year
8
330,505
---------
--------
Net liabilities
( 123,825)
( 45,851)
---------
--------
The Fallow Meadow Limited
Statement of Financial Position (continued)
31 December 2024
2024
2023
Note
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 123,827)
( 45,853)
---------
--------
Shareholders deficit
( 123,825)
( 45,851)
---------
--------
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 December 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 13 June 2025 , and are signed on behalf of the board by:
Mr Pritchard
Director
Company registration number: 14552856
The Fallow Meadow Limited
Notes to the Financial Statements
Year ended 31 December 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 Kingfisher House, Hurstwood Grange, Hurstwood Lane, Haywards Heath, West Sussex, RH17 7QX, England.
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.
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:
Plant and machinery
-
20% Reducing balance / Straight line over 10 years
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
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. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: Nil).
5. Tangible assets
Plant and machinery
£
Cost
At 1 January 2024
31,663
Additions
189,608
---------
At 31 December 2024
221,271
---------
Depreciation
At 1 January 2024
2,883
Charge for the year
25,999
---------
At 31 December 2024
28,882
---------
Carrying amount
At 31 December 2024
192,389
---------
At 31 December 2023
28,780
---------
6. Debtors
2024
2023
£
£
Other debtors
6,866
7,269
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
588
2,750
Other creditors
21,354
103,584
--------
---------
21,942
106,334
--------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
330,505
---------
----
A proportion of the directors' investment amounting to £40,000 is to be repaid over a term of 5 years from April 2025 to March 2030 at an interest rate of 7.5%. Otherwise, the directors have decided that their investment in TFML should be treated as a loan with no requirement for interest or capital repayment during the 2025 financial year