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Registration number: 00671336

East Stoke Farm Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

East Stoke Farm Limited

Contents

Statement of Financial Position

1

Statement of Changes in Equity

2

Notes to the Unaudited Financial Statements

3 to 7

 

East Stoke Farm Limited

(Registration number: 00671336)
Statement of Financial Position as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

152,553

170,780

Current assets

 

Stocks

21,730

27,368

Debtors

5

22,949

16,270

Cash at bank and in hand

 

89,778

120,090

 

134,457

163,728

Creditors: Amounts falling due within one year

6

(15,952)

(26,581)

Net current assets

 

118,505

137,147

Total assets less current liabilities

 

271,058

307,927

Provisions for liabilities

(15,602)

(18,985)

Net assets

 

255,456

288,942

Capital and reserves

 

Called up share capital

9,003

9,003

Profit and loss account

246,453

279,939

Shareholders' funds

 

255,456

288,942

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 Statement of Comprehensive Income.

Approved and authorised by the Board on 27 June 2025 and signed on its behalf by:
 


N.J Hill
Director

 

East Stoke Farm Limited

Statement of Changes in Equity for the Year Ended 30 September 2024

Share capital
£

Profit and loss account
£

Total
£

At 1 October 2023

9,003

279,939

288,942

Loss for the year

-

(6,486)

(6,486)

Dividends

-

(27,000)

(27,000)

At 30 September 2024

9,003

246,453

255,456

Share capital
£

Profit and loss account
£

Total
£

At 30 September 2022

9,003

278,488

287,491

Profit for the year

-

16,701

16,701

Dividends

-

(15,250)

(15,250)

At 30 September 2023

9,003

279,939

288,942

 

East Stoke Farm 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 and Wales.

The address of its registered office is:
7 Castle Street
Bridgwater
Somerset
TA6 3DD

Principal activity

The principal activity of the company is mixed farming.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

 

East Stoke Farm Limited

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

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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.

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 statement of financial position 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.

 

East Stoke Farm Limited

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

2

Accounting policies (continued)

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 and machinery

10% reducing balance

Tractors

20% reducing balance

Land is not depreciated and limited depreciation of 2% straight line is provided on farm buildings as considered appropriate by the directors.

Impairment

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

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

 

East Stoke Farm Limited

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

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Tractors
£

Total
£

Cost or valuation

At 1 October 2023

73,820

363,041

203,033

639,894

Disposals

-

(38,942)

(34,174)

(73,116)

At 30 September 2024

73,820

324,099

168,859

566,778

Depreciation

At 1 October 2023

2,961

281,089

185,064

469,114

Charge for the year

423

7,533

3,588

11,544

Eliminated on disposal

-

(32,286)

(34,147)

(66,433)

At 30 September 2024

3,384

256,336

154,505

414,225

Carrying amount

At 30 September 2024

70,436

67,763

14,354

152,553

At 30 September 2023

70,859

81,952

17,969

170,780

5

Debtors

2024
£

2023
£

Trade debtors

17,900

12,170

Other debtors

5,049

4,100

22,949

16,270

 

East Stoke Farm Limited

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

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

10,526

3,146

Taxation and social security

2,109

18,017

Accruals and deferred income

335

-

Other creditors

2,982

5,418

15,952

26,581

The company has granted a fixed and floating charge on its assets to secure the bank indebtedness.

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8

Related party transactions

Transactions with directors

2024

At 1 October 2023
£

Advances to director
£

Repayments by director
£

At 30 September 2024
£

Directors' advances and credits- repayable on demand and interest charged at HMRC's official rate

-

(14,353)

14,353

-