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CROFTS & FINDLAY (FARMERS) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH SEPTEMBER 2024






CROFTS & FINDLAY (FARMERS) LTD (REGISTERED NUMBER: 12747910)






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

Accountants' Report 7

CROFTS & FINDLAY (FARMERS) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTOR: J J Findlay





REGISTERED OFFICE: Home Farm
Cople Road
Cardington
Bedfordshire
MK44 3SN





REGISTERED NUMBER: 12747910 (England and Wales)





ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

CROFTS & FINDLAY (FARMERS) LTD (REGISTERED NUMBER: 12747910)

BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 521,676 374,290
Investments 5 143,721 148,721
665,397 523,011

CURRENT ASSETS
Stocks 6 534,074 509,649
Debtors 7 173,441 197,674
Cash at bank 20,902 98
728,417 707,421
CREDITORS
Amounts falling due within one year 8 938,238 1,008,271
NET CURRENT LIABILITIES (209,821 ) (300,850 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

455,576

222,161

CREDITORS
Amounts falling due after more than one
year

9

(137,585

)

(30,281

)

PROVISIONS FOR LIABILITIES (124,307 ) (86,652 )
NET ASSETS 193,684 105,228

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 193,584 105,128
193,684 105,228

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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.

CROFTS & FINDLAY (FARMERS) LTD (REGISTERED NUMBER: 12747910)

BALANCE SHEET - continued
30TH SEPTEMBER 2024


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 17th July 2025 and were signed by:





J J Findlay - Director


CROFTS & FINDLAY (FARMERS) LTD (REGISTERED NUMBER: 12747910)

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

1. STATUTORY INFORMATION

Crofts & Findlay (Farmers) Ltd 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
Turnover represents net invoiced sales of crops, excluding value added tax. Other operating income includes rents received for storage units and caravans, wayleave income and subsidy receipts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - straight line over 20 years
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

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.

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.

CROFTS & FINDLAY (FARMERS) LTD (REGISTERED NUMBER: 12747910)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1st October 2023 33,304 605,997 11,567 1,224 652,092
Additions - 390,689 - - 390,689
Disposals - (268,688 ) - - (268,688 )
At 30th September 2024 33,304 727,998 11,567 1,224 774,093
DEPRECIATION
At 1st October 2023 5,620 264,617 6,687 878 277,802
Charge for year 3,294 94,132 1,220 346 98,992
Eliminated on disposal - (124,377 ) - - (124,377 )
At 30th September 2024 8,914 234,372 7,907 1,224 252,417
NET BOOK VALUE
At 30th September 2024 24,390 493,626 3,660 - 521,676
At 30th September 2023 27,684 341,380 4,880 346 374,290

The net book value of assets held under hire purchase & finance lease contracts at the balance sheet date was £380,696 (2023 £248,539).

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st October 2023 148,721
Disposals (5,000 )
At 30th September 2024 143,721
NET BOOK VALUE
At 30th September 2024 143,721
At 30th September 2023 148,721

6. STOCKS
2024 2023
£    £   
Valuation 534,074 509,649

CROFTS & FINDLAY (FARMERS) LTD (REGISTERED NUMBER: 12747910)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 19,981 4,180
Other debtors 4,327 -
VAT 27,729 8,256
Prepayments and accrued income 121,404 185,238
173,441 197,674

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 123
Hire purchase contracts (see note 10) 48,396 43,194
Trade creditors 110,359 75,520
Tax 1,115 70,940
Social security and other taxes 3,573 3,200
Other creditors 69,200 -
Directors' current accounts 626,661 647,705
Accrued expenses 78,934 167,589
938,238 1,008,271

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 137,585 30,281

10. LEASING AGREEMENTS

The company has a lease over farm land for the life of the director. The annual rent due under this agreement is £53,250.

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 185,981 73,475

ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
CROFTS & FINDLAY (FARMERS) LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Crofts & Findlay (Farmers) Ltd for the year ended 30th September 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Crofts & Findlay (Farmers) Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Crofts & Findlay (Farmers) Ltd and state those matters that we have agreed to state to the director of Crofts & Findlay (Farmers) Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Crofts & Findlay (Farmers) Ltd and its director for our work or for this report.

It is your duty to ensure that Crofts & Findlay (Farmers) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Crofts & Findlay (Farmers) Ltd. You consider that Crofts & Findlay (Farmers) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Crofts & Findlay (Farmers) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


17th July 2025