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REGISTERED NUMBER: 04925379 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

The Farmgate Limited

The Farmgate Limited (Registered number: 04925379)






Contents of the Financial Statements
for the year ended 31 October 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


The Farmgate Limited

Company Information
for the year ended 31 October 2024







DIRECTOR: Mr G W Tindall





REGISTERED OFFICE: 3 Railway Court
Ten Pound Walk
Doncaster
South Yorkshire
DN4 5FB





REGISTERED NUMBER: 04925379 (England and Wales)





ACCOUNTANTS: Royston Parkin Limited
2 President Buildings
Savile Street East
Sheffield
South Yorkshire
S4 7UQ

The Farmgate Limited (Registered number: 04925379)

Statement of Financial Position
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 231,342 237,283
Investment property 6 60,000 60,000
291,342 297,283

CURRENT ASSETS
Inventories 6,000 6,000
Debtors 7 4,209 7,512
Cash at bank and in hand 55,591 48,251
65,800 61,763
CREDITORS
Amounts falling due within one year 8 187,662 121,217
NET CURRENT LIABILITIES (121,862 ) (59,454 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

169,480

237,829

CREDITORS
Amounts falling due after more than
one year

9

(5,833

)

(15,833

)

PROVISIONS FOR LIABILITIES 10 (10,746 ) (9,822 )
NET ASSETS 152,901 212,174

The Farmgate Limited (Registered number: 04925379)

Statement of Financial Position - continued
31 October 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 11 14,499 14,499
Retained earnings 138,400 197,673
152,901 212,174

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 9 July 2025 and were signed by:





Mr G W Tindall - Director


The Farmgate Limited (Registered number: 04925379)

Notes to the Financial Statements
for the year ended 31 October 2024

1. STATUTORY INFORMATION

The Farmgate Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

Turnover is that of retail sales from supermarket, florist, cafe and pet shop.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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


The Farmgate Limited (Registered number: 04925379)

Notes to the Financial Statements - continued
for the year ended 31 October 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 21 (2023 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 14,000
AMORTISATION
At 1 November 2023
and 31 October 2024 14,000
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

The Farmgate Limited (Registered number: 04925379)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

5. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
Freehold to and Motor
property property fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2023 155,000 30,590 35,524 107,143 328,257
Additions - - 1,300 6,100 7,400
At 31 October 2024 155,000 30,590 36,824 113,243 335,657
DEPRECIATION
At 1 November 2023 - - 21,241 69,733 90,974
Charge for year - - 3,734 9,607 13,341
At 31 October 2024 - - 24,975 79,340 104,315
NET BOOK VALUE
At 31 October 2024 155,000 30,590 11,849 33,903 231,342
At 31 October 2023 155,000 30,590 14,283 37,410 237,283

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 60,000
NET BOOK VALUE
At 31 October 2024 60,000
At 31 October 2023 60,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,580 7,500
Directors' current accounts - 12
Prepayments 629 -
4,209 7,512

The Farmgate Limited (Registered number: 04925379)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 38,430 53,428
Amounts owed to group undertakings 737 891
Social security and other taxes 169 2,508
VAT 114,621 47,453
Other creditors 11,000 -
Pension 24 198
Directors' current accounts 61 -
Accrued expenses 12,620 6,739
187,662 121,217

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 5,833 10,000
Bank loans - 2-5 years - 5,833
5,833 15,833

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 10,746 9,822

Deferred
tax
£   
Balance at 1 November 2023 9,822
Provided during year 924
Balance at 31 October 2024 10,746

11. RESERVES
Revaluation
reserve
£   
At 1 November 2023
and 31 October 2024 14,499

The Farmgate Limited (Registered number: 04925379)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
£    £   
Mr G W Tindall
Balance outstanding at start of year 11 26,865
Amounts advanced 23,740 26,366
Amounts repaid (23,812 ) (53,220 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (61 ) 11

The loans to and from the directors are interest free with no fixed repayment date.