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Registration number: 00442883

Elmdon Farms Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Elmdon Farms Limited
(Registration number: 00442883)

Contents

Company Information

1

Profit and Loss Account and Statement of Retained Earnings

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 11

 

Elmdon Farms Limited
(Registration number: 00442883)

Company Information

Directors

Mr Richard James Cross

Mr Peter Campbell Bennett

Mr Patrick Alexander Beddows

Company secretary

Mr Richard James Cross

Registered office

Lendon Lodge
Wenden Lofts
Saffron Walden
Essex
CB11 4UN

Registered number

00442883

Accountants

Evolve Tax & Accountancy LLP
Chartered Certified Accountants
Baythorne Hall
Baythorne End
Halstead
Essex
CO9 4AH

 

Elmdon Farms Limited
(Registration number: 00442883)

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 30 September 2024

Note

2024
£

2023
£

Turnover

 

865,488

823,519

Cost of sales

 

(421,535)

(448,350)

Gross profit

 

443,953

375,169

Administrative expenses

 

(488,381)

(472,613)

Other operating income

 

70,919

43,880

Operating profit/(loss)

 

26,491

(53,564)

Loss on financial assets at fair value through profit and loss account

 

(1,949)

(11,210)

Other interest receivable and similar income

 

26,163

16,327

Interest payable and similar charges

 

(4,491)

(6,190)

 

19,723

(1,073)

Profit/(loss) before tax

46,214

(54,637)

Taxation

 

3,825

10,114

Profit/(loss) for the financial year

 

50,039

(44,523)

Retained earnings brought forward

 

2,142,073

2,177,405

Transferred to fair value reserve

 

1,960

9,192

Retained earnings carried forward

 

2,194,072

2,142,074

 

Elmdon Farms Limited
(Registration number: 00442883)

Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

394,308

461,987

Other financial assets

5

42,947

44,896

 

437,255

506,883

Current assets

 

Stocks

6

460,596

653,741

Debtors

7

305,229

206,653

Cash at bank and in hand

 

1,281,886

1,373,057

 

2,047,711

2,233,451

Creditors: Amounts falling due within one year

8

(205,942)

(387,523)

Net current assets

 

1,841,769

1,845,928

Total assets less current liabilities

 

2,279,024

2,352,811

Creditors: Amounts falling due after more than one year

8

-

(120,000)

Provisions for liabilities

(24,909)

(28,734)

Net assets

 

2,254,115

2,204,077

Capital and Reserves

 

Called up share capital

27,000

27,000

Fair value reserve

31,093

35,003

Retained Earnings

2,196,022

2,142,074

Shareholders' funds

 

2,254,115

2,204,077

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Elmdon Farms Limited
(Registration number: 00442883)

Balance Sheet as at 30 September 2024

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 June 2025 and signed on its behalf by:
 

.........................................
Mr Richard James Cross
Company secretary and director

 

Elmdon Farms Limited
(Registration number: 00442883)

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
Lendon Lodge
Wenden Lofts
Saffron Walden
Essex
CB11 4UN

These financial statements were authorised for issue by the Board on 18 June 2025.

2

Accounting policies

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).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

 

Elmdon Farms Limited
(Registration number: 00442883)

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Going concern

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

Tax

The tax expense for the period comprises current and 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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 & Machinery

10% Straight Line

Motor Vehicles

10% Straight Line

Property Improvements

10% Straight Line

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.

 

Elmdon Farms Limited
(Registration number: 00442883)

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 profit and loss account 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.

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.

 

Elmdon Farms Limited
(Registration number: 00442883)

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

4

Tangible Assets

Land and buildings
£

Plant and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

1,183,796

396,638

218,201

1,798,635

Disposals

-

(55,899)

(13,570)

(69,469)

At 30 September 2024

1,183,796

340,739

204,631

1,729,166

Depreciation

At 1 October 2023

1,093,198

166,324

77,126

1,336,648

Charge for the year

18,032

28,910

17,934

64,876

Eliminated on disposal

-

(53,096)

(13,570)

(66,666)

At 30 September 2024

1,111,230

142,138

81,490

1,334,858

Carrying amount

At 30 September 2024

72,566

198,601

123,141

394,308

At 30 September 2023

90,598

230,314

141,075

461,987

Included within the net book value of land and buildings above is £72,567 (2023 - £90,598) in respect of freehold land and buildings.
 

 

Elmdon Farms Limited
(Registration number: 00442883)

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 October 2023

44,896

44,896

Fair value adjustments

(1,949)

(1,949)

At 30 September 2024

42,947

42,947

Impairment

Carrying amount

At 30 September 2024

42,947

42,947

6

Stocks

2024
£

2023
£

Raw materials and consumables

59,670

127,340

Finished goods and goods for resale

10,360

8,150

Other inventories

390,566

518,251

460,596

653,741

7

Debtors

The directors have reviewed trade debtors for impairment and consider the impairment losses to be provided for the year are £Nil (2023 - £Nil)

All amounts are due within one year.

Current

2024
£

2023
£

Trade Debtors

54,698

4,291

Prepayments

9,626

79,470

Other debtors

240,905

122,892

 

305,229

206,653

 

Elmdon Farms Limited
(Registration number: 00442883)

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade Creditors

49,757

135,367

Accruals and deferred income

156,185

252,156

205,942

387,523

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

-

120,000

9

Reserves

Deferred tax is calculated at the prevailing corporation tax rate on amounts credited to the fair value reserve in respect of unrecognised gains on investment assets.

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

-

120,000

11

Related party transactions

Interest is applied at 1% over base rate for loans to and from Directors. Amounts owing are repayable on demand.

 

Elmdon Farms Limited
(Registration number: 00442883)

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Transactions with directors

2024

At 1 October 2023
£

Advances to director
£

Repayments by director
£

At 30 September 2024
£

Mr Richard James Cross

Loan to Director

(120,000)

280,000

(3,616)

156,384