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REGISTERED NUMBER: 08348811 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

BILLINGTON FARMING LIMITED

BILLINGTON FARMING LIMITED (REGISTERED NUMBER: 08348811)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


BILLINGTON FARMING LIMITED (REGISTERED NUMBER: 08348811)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 23,108 20,184
Tangible assets 5 1,189,309 1,205,071
Investments 6 1 1
1,212,418 1,225,256

CURRENT ASSETS
Stocks 254,878 248,390
Debtors 7 189,873 204,160
Cash at bank and in hand 335,855 189,848
780,606 642,398
CREDITORS
Amounts falling due within one year 8 574,581 679,497
NET CURRENT ASSETS/(LIABILITIES) 206,025 (37,099 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,418,443

1,188,157

PROVISIONS FOR LIABILITIES 109,165 84,630
NET ASSETS 1,309,278 1,103,527

BILLINGTON FARMING LIMITED (REGISTERED NUMBER: 08348811)

BALANCE SHEET - continued
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 100 3
Retained earnings 1,309,178 1,103,524
SHAREHOLDERS' FUNDS 1,309,278 1,103,527

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 December 2024 and were signed on its behalf by:




D Billington - Director Mrs J A Billington - Director




P D Billington - Director


BILLINGTON FARMING LIMITED (REGISTERED NUMBER: 08348811)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Billington Farming Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08348811

Registered office: Broad Oak Farm
Siddington
Macclesfield
Cheshire
SK11 9JR

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Entitlements are being amortised evenly over their estimated useful life of six years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Tractors - 15% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

BILLINGTON FARMING LIMITED (REGISTERED NUMBER: 08348811)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statement when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors , bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


BILLINGTON FARMING LIMITED (REGISTERED NUMBER: 08348811)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

BILLINGTON FARMING LIMITED (REGISTERED NUMBER: 08348811)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


4. INTANGIBLE FIXED ASSETS
Entitlement
£   
COST
At 1 October 2023 30,276
Additions 9,564
At 30 September 2024 39,840
AMORTISATION
At 1 October 2023 10,092
Amortisation for year 6,640
At 30 September 2024 16,732
NET BOOK VALUE
At 30 September 2024 23,108
At 30 September 2023 20,184

5. TANGIBLE FIXED ASSETS
Milk Herd Plant and
quota account machinery Tractors Totals
£    £    £    £    £   
COST
At 1 October 2023 2,428 759,650 451,301 132,500 1,345,879
Additions - - 50,950 - 50,950
Disposals - (7,000 ) (5,400 ) - (12,400 )
At 30 September 2024 2,428 752,650 496,851 132,500 1,384,429
DEPRECIATION
At 1 October 2023 2,428 - 110,195 28,185 140,808
Charge for year - - 38,665 15,647 54,312
At 30 September 2024 2,428 - 148,860 43,832 195,120
NET BOOK VALUE
At 30 September 2024 - 752,650 347,991 88,668 1,189,309
At 30 September 2023 - 759,650 341,106 104,315 1,205,071

BILLINGTON FARMING LIMITED (REGISTERED NUMBER: 08348811)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


6. FIXED ASSET INVESTMENTS
Other
investment
£   
COST
At 1 October 2023
and 30 September 2024 1
NET BOOK VALUE
At 30 September 2024 1
At 30 September 2023 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 184,447 184,686
Other debtors 5,426 19,474
189,873 204,160

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts 1,266 16,452
Trade creditors 49,993 62,847
Taxation and social security 127,851 111,715
Other creditors 395,471 488,483
574,581 679,497

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
100 Ordinary £1 100 3

97 Ordinary shares of £1 were issued during the year for cash of £ 97 .