2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2024 - FRS102_2024 20,000 20,000 xbrli:pure xbrli:shares iso4217:GBP 06684470 2023-10-01 2024-09-30 06684470 2024-09-30 06684470 2023-09-30 06684470 2022-10-01 2023-09-30 06684470 2023-09-30 06684470 2022-09-30 06684470 core:PlantMachinery 2023-10-01 2024-09-30 06684470 bus:Director1 2023-10-01 2024-09-30 06684470 core:WithinOneYear 2024-09-30 06684470 core:WithinOneYear 2023-09-30 06684470 core:NetGoodwill 2024-09-30 06684470 core:PlantMachinery 2023-09-30 06684470 core:PlantMachinery 2024-09-30 06684470 core:AfterOneYear 2024-09-30 06684470 core:AfterOneYear 2023-09-30 06684470 core:ShareCapital 2024-09-30 06684470 core:ShareCapital 2023-09-30 06684470 core:RetainedEarningsAccumulatedLosses 2024-09-30 06684470 core:RetainedEarningsAccumulatedLosses 2023-09-30 06684470 core:PlantMachinery 2023-09-30 06684470 bus:SmallEntities 2023-10-01 2024-09-30 06684470 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 06684470 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 06684470 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 06684470 bus:FullAccounts 2023-10-01 2024-09-30 06684470 core:NetGoodwill 2023-10-01 2024-09-30 06684470 core:OfficeEquipment 2023-10-01 2024-09-30 06684470 core:OfficeEquipment 2023-09-30 06684470 core:OfficeEquipment 2024-09-30 06684470 core:WithinOneYear 2023-10-01 2024-09-30 06684470 core:AfterOneYear 2023-10-01 2024-09-30 06684470 core:KeyManagementIndividualGroup1 2023-10-01 2024-09-30 06684470 core:KeyManagementIndividualGroup1 2024-09-30
COMPANY REGISTRATION NUMBER: 06684470
J H Farming Ltd
Filleted Unaudited Financial Statements
For the year ended
30 September 2024
J H Farming Ltd
Financial Statements
Year ended 30 September 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
J H Farming Ltd
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
6
144,479
226,320
Current assets
Stocks
2,940
2,708
Debtors
7
480,050
669,833
Cash at bank and in hand
76,613
14,569
----------
----------
559,603
687,110
Creditors: amounts falling due within one year
8
160,932
188,056
----------
----------
Net current assets
398,671
499,054
----------
----------
Total assets less current liabilities
543,150
725,374
Creditors: amounts falling due after more than one year
9
58,256
91,527
Provisions
Taxation including deferred tax
36,120
56,580
----------
----------
Net assets
448,774
577,267
----------
----------
J H Farming Ltd
Statement of Financial Position (continued)
30 September 2024
2024
2023
Note
£
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
448,674
577,167
----------
----------
Shareholders funds
448,774
577,267
----------
----------
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 income and retained earnings has not been delivered.
For the 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 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 27 June 2025 , and are signed on behalf of the board by:
J P Fenton
Director
Company registration number: 06684470
J H Farming Ltd
Notes to the Financial Statements
Year ended 30 September 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 Springwell House, Elmswell, Driffield, East Yorkshire, YO25 3EL.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity. (b) Going concern The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis. (c) Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for farm contracting services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. (d) Current & deferred tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. (e) Amortisation Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 5 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates. (f) Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. (g) 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 & machinery - 15% straight line
Equipment - 15% straight line
(h) 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.
(i) Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
(j) Financial instruments
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 entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Intangible assets
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
20,000
--------
Amortisation
At 1 October 2023 and 30 September 2024
20,000
--------
Carrying amount
At 30 September 2024
--------
At 30 September 2023
--------
6. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 October 2023
1,274,979
1,711
1,276,690
Additions
541
541
-------------
-------
-------------
At 30 September 2024
1,275,520
1,711
1,277,231
-------------
-------
-------------
Depreciation
At 1 October 2023
1,048,659
1,711
1,050,370
Charge for the year
82,382
82,382
-------------
-------
-------------
At 30 September 2024
1,131,041
1,711
1,132,752
-------------
-------
-------------
Carrying amount
At 30 September 2024
144,479
144,479
-------------
-------
-------------
At 30 September 2023
226,320
226,320
-------------
-------
-------------
7. Debtors
2024
2023
£
£
Trade debtors
451,741
638,715
Corporation tax repayable
5,816
5,816
Other debtors
22,493
25,302
----------
----------
480,050
669,833
----------
----------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,001
10,000
Trade creditors
54,445
64,430
Accruals
5,293
5,162
Social security and other taxes
12,871
316
Obligations under finance leases and hire purchase contracts
23,271
22,461
Director loan accounts
53,603
85,687
Other creditors
1,448
----------
----------
160,932
188,056
----------
----------
Hire purchase liabilities are secured on the associated asset.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
9,167
19,167
Obligations under finance leases and hire purchase contracts
49,089
72,360
--------
--------
58,256
91,527
--------
--------
Hire purchase liabilities are secured on the associated asset.
10. Related party transactions
During the year the directors made available loans to the company. The loan is interest free and repayable on demand. The balance at 30 September 2024 was £ 53,603 (2023: £85,687).