| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30th September 2024 |
| for |
| AJD Farms Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30th September 2024 |
| for |
| AJD Farms Limited |
| AJD Farms Limited (Registered number: 03270143) |
| Contents of the Financial Statements |
| for the year ended 30th September 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| AJD Farms Limited |
| Company Information |
| for the year ended 30th September 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Regent's Court |
| Princess Street |
| Hull |
| East Yorkshire |
| HU2 8BA |
| AJD Farms Limited (Registered number: 03270143) |
| Balance Sheet |
| 30th September 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Fair value reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| AJD Farms Limited (Registered number: 03270143) |
| Balance Sheet - continued |
| 30th September 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| AJD Farms Limited (Registered number: 03270143) |
| Notes to the Financial Statements |
| for the year ended 30th September 2024 |
| 1. | STATUTORY INFORMATION |
| AJD Farms Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared in accordance with applicable accounting standards including Section 1A of Financial Reporting Standard 102 The Financial Reporting Standard in the UK and Republic of Ireland (FRS102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historic cost convention. |
| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually when the farm products have been delivered. |
| Intangible assets |
| Basic Payment Scheme entitlements are initially recognised at cost and are amortised on a straight line basis over their expected useful life. At the reporting date, the entitlements had been fully amortised. The Basic Payment Scheme commenced in 2015 and ceased during the 2022 accounting period. |
| Entitlements acquired via the ownership of existing land, and therefore have no cost, have been revalued to fair value on the transition to FRS 102 and amortised over their expected useful life, in accordance with the above period of benefit expected from the Basic Payment Scheme. |
| Provision is made for any impairment. |
| Tangible fixed assets |
| Freehold Land | - |
| Plant and machinery | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Stocks |
| Stocks, including biological assets, are stated at the lower of cost and net realisable value. Cost is determined using the first-in, first-out (FIFO) method and represents costs incurred to date to bring growing crops and finished produce to its current state. Net realisable value is the estimated selling price in the ordinary course of business, less applicable variable selling expenses. |
| AJD Farms Limited (Registered number: 03270143) |
| Notes to the Financial Statements - continued |
| for the year ended 30th September 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Current and deferred tax |
| Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current and past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. it is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets and recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities and other future taxable profits. |
| Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. |
| Government grants |
| The company receives government grants in respect of the Basic Payment Scheme, under the Common Agricultural Policy. These grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the performance model. |
| Government grants received in respect of fixed assets are released to the profit and loss account in equal annual amounts over the estimated useful economic lives of the specific asset they relate to. |
| Other government grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate to. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1st October 2023 |
| Disposals | ( |
) |
| At 30th September 2024 |
| AMORTISATION |
| At 1st October 2023 |
| Eliminated on disposal | ( |
) |
| At 30th September 2024 |
| NET BOOK VALUE |
| At 30th September 2024 |
| At 30th September 2023 |
| AJD Farms Limited (Registered number: 03270143) |
| Notes to the Financial Statements - continued |
| for the year ended 30th September 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and |
| Land | machinery | Totals |
| £ | £ | £ |
| COST |
| At 1st October 2023 |
| and 30th September 2024 |
| DEPRECIATION |
| At 1st October 2023 |
| Charge for year |
| At 30th September 2024 |
| NET BOOK VALUE |
| At 30th September 2024 |
| At 30th September 2023 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1st October 2023 |
| and 30th September 2024 |
| NET BOOK VALUE |
| At 30th September 2024 |
| At 30th September 2023 |
| Fair value at 30th September 2024 is represented by: |
| £ |
| Valuation in 2015 | 4,153 |
| Valuation in 2016 | 2,085 |
| Valuation in 2017 | 2,079 |
| Cost | 396,725 |
| 405,042 |
| The directors have assessed the fair value of the investment properties as at 30 September 2024 and consider there to be no material changes from 2023. |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| AJD Farms Limited (Registered number: 03270143) |
| Notes to the Financial Statements - continued |
| for the year ended 30th September 2024 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |