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Registration number: 03422255

Stonebridge Farms Limited
Unaudited Filleted Financial Statements
for the Year Ended 30 September 2024

Stonebridge Farms Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 9

Stonebridge Farms Limited

Company Information

Directors | Mrs P Paisley Mr C W R Paisley

Registered office | Unit 1 Bennett House Norwich Street DEREHAM Norfolk NR19 1BX

Accountants | Fox & Co ( Anglia) Limited Chartered AccountantsUnit 1 Bennett House Norwich Street DEREHAM Norfolk NR19 1BX

Stonebridge Farms Limited

(Registration number: 03422255)
Balance Sheet as at 30 September 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 4 | 346,831 | 321,449
Current assets |  |  |
Debtors | 5 | 6,600 | 12,360
Cash at bank and in hand |  | 41,943 | 73,202
|  | 48,543 | 85,562
Creditors: Amounts falling due within one year | 6 | (125,814) | (134,121)
Net current liabilities |  | (77,271) | (48,559)
Net assets |  | 269,560 | 272,890
Capital and reserves |  |  |
Called up share capital | 7 | 405,000 | 405,000
Retained earnings |  | (135,440) | (132,110)
Shareholders' funds |  | 269,560 | 272,890

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.

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

Approved and authorised by the Board on 31 October 2024 and signed on its behalf by:

......................................... Mr C W R Paisley Director

Stonebridge Farms Limited

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:
Unit 1 Bennett House
Norwich Street
DEREHAM
Norfolk
NR19 1BX
England

The principal place of business is:
Stonebridge Farm
Mattishall
Dereham
Norfolk
NR20 3BZ
England

These financial statements were authorised for issue by the Board on 31 October 2024.

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.

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.

Stonebridge Farms Limited

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

Tax

The tax expense for the period comprises current 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.

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
Buildings | 5% straight line
Plant and machinery | 15% reducing balance
Motor vehicles | 25% reducing balance
Office Equipment | 3 years 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.

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.

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.

Stonebridge Farms Limited

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

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

Stonebridge Farms Limited

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

4 | Tangible assets

| Land and buildings £ | Furniture, fittings and equipment £ | Motor vehicles £ | Other tangible assets £ | Total £
Cost or valuation
At 1 October 2023 | 729,885 | 4,981 | 48,500 | 249,563 | 1,032,929
Additions | 48,696 | - | - | 3,150 | 51,846
At 30 September 2024 | 778,581 | 4,981 | 48,500 | 252,713 | 1,084,775
Depreciation
At 1 October 2023 | 451,629 | 4,356 | 34,916 | 220,579 | 711,480
Charge for the year | 17,936 | 311 | 3,396 | 4,821 | 26,464
At 30 September 2024 | 469,565 | 4,667 | 38,312 | 225,400 | 737,944
Carrying amount
At 30 September 2024 | 309,016 | 314 | 10,188 | 27,313 | 346,831
At 30 September 2023 | 278,256 | 625 | 13,584 | 28,984 | 321,449

Included within the net book value of land and buildings above is £309,016 (2023 - £278,256) in respect of freehold land and buildings.

Stonebridge Farms Limited

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

5 | Debtors

Current | 2024 £ | 2023 £
Trade debtors | 6,600 | 6,600
Other debtors | - | 5,760
| 6,600 | 12,360

6 | Creditors

Creditors: amounts falling due within one year

| 2024 £ | 2023 £
Due within one year |  |
Trade creditors | 225 | 225
Taxation and social security | 7,547 | -
Accruals and deferred income | 605 | 600
Other creditors | 117,437 | 133,296
| 125,814 | 134,121

7 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary of £1 each | 405,000 | 405,000 | 405,000 | 405,000

8 | Dividends

9 | Related party transactions

Stonebridge Farms Limited

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

Transactions with directors

2023 | At 1 October 2022 £ | Repayments by director £ | At 30 September 2023 £
Mr C W R Paisley
Directors Loan Account | 13,320 | (13,320) | -

Stonebridge Farms Limited

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

Directors' remuneration

The directors' remuneration for the year was as follows:

| 2024 £ | 2023 £
Remuneration | 3,500 | 3,850
Contributions paid to money purchase schemes | 10,200 | 10,200
| 13,700 | 14,050

In respect of the highest paid director:

| 2024 £ | 2023 £
Remuneration | 3,500 | 3,850

Loans from related parties

2024 | Key management £ | Total £
At start of period | 133,295 | 133,295
Repaid | (15,859) | (15,859)
At end of period | 117,436 | 117,436

2023 | Key management £ | Total £
Advanced | 133,295 | 133,295
At end of period | 133,295 | 133,295