Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-31falsefalsetrue2023-04-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.The principal activity of the company is of supporting activities for animal production (other than farm animal boarding and care).63true 09132549 2023-04-01 2024-03-31 09132549 2022-04-01 2023-03-31 09132549 2024-03-31 09132549 2023-03-31 09132549 2022-04-01 09132549 c:Director2 2023-04-01 2024-03-31 09132549 d:PlantMachinery 2023-04-01 2024-03-31 09132549 d:PlantMachinery 2024-03-31 09132549 d:PlantMachinery 2023-03-31 09132549 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09132549 d:MotorVehicles 2023-04-01 2024-03-31 09132549 d:MotorVehicles 2024-03-31 09132549 d:MotorVehicles 2023-03-31 09132549 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09132549 d:FurnitureFittings 2023-04-01 2024-03-31 09132549 d:FurnitureFittings 2024-03-31 09132549 d:FurnitureFittings 2023-03-31 09132549 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09132549 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09132549 d:CurrentFinancialInstruments 2024-03-31 09132549 d:CurrentFinancialInstruments 2023-03-31 09132549 d:Non-currentFinancialInstruments 2024-03-31 09132549 d:Non-currentFinancialInstruments 2023-03-31 09132549 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09132549 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09132549 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 09132549 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09132549 d:ShareCapital 2024-03-31 09132549 d:ShareCapital 2023-03-31 09132549 d:CapitalRedemptionReserve 2024-03-31 09132549 d:CapitalRedemptionReserve 2023-03-31 09132549 d:RetainedEarningsAccumulatedLosses 2024-03-31 09132549 d:RetainedEarningsAccumulatedLosses 2023-03-31 09132549 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 09132549 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 09132549 c:FRS102 2023-04-01 2024-03-31 09132549 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09132549 c:FullAccounts 2023-04-01 2024-03-31 09132549 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09132549 d:HirePurchaseContracts d:WithinOneYear 2024-03-31 09132549 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 09132549 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-03-31 09132549 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 09132549 2 2023-04-01 2024-03-31 09132549 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 09132549


MAJOR FARM SERVICES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
MAJOR FARM SERVICES LIMITED
REGISTERED NUMBER: 09132549

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
175,167
110,604

  
175,167
110,604

Current assets
  

Stocks
  
1,000
1,000

Debtors
 5 
161,146
97,539

Cash at bank and in hand
 6 
30,955
850,700

  
193,101
949,239

Creditors: amounts falling due within one year
 7 
(86,901)
(204,594)

Net current assets
  
 
 
106,200
 
 
744,645

Total assets less current liabilities
  
281,367
855,249

Creditors: amounts falling due after more than one year
 8 
(80,091)
(2,213)

Provisions for liabilities
  

Deferred tax
 10 
(35,274)
(27,605)

  
 
 
(35,274)
 
 
(27,605)

Net assets
  
166,002
825,431


Capital and reserves
  

Called up share capital 
  
50
100

Capital redemption reserve
  
50
-

Profit and loss account
  
165,902
825,331

  
166,002
825,431


Page 1

 
MAJOR FARM SERVICES LIMITED
REGISTERED NUMBER: 09132549
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N J Mauger
Director

Date: 5 August 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
MAJOR FARM SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Major Farm Services Limited is a private company limited by shares incorporated in England. The principal place of business is Blackstone Farm, Near Blackthorn, Bicester, Oxfordshire, OX25 1HX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
MAJOR FARM SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
MAJOR FARM SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
straight line
Motor vehicles
-
25%
straight line
Fixtures and fittings
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
MAJOR FARM SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 3).

Page 6

 
MAJOR FARM SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 April 2023
735,089
341,149
12,915
1,089,153


Additions
61,021
89,772
-
150,793


Disposals
(43,300)
-
-
(43,300)



At 31 March 2024

752,810
430,921
12,915
1,196,646



Depreciation


At 1 April 2023
671,405
294,571
12,572
978,548


Charge for the year on owned assets
45,593
30,525
190
76,308


Disposals
(33,377)
-
-
(33,377)



At 31 March 2024

683,621
325,096
12,762
1,021,479



Net book value



At 31 March 2024
69,189
105,825
153
175,167



At 31 March 2023
63,684
46,578
342
110,604


5.


Debtors

2024
2023
£
£



Trade debtors
56,999
2,656

Other debtors
96,169
53,863

Prepayments and accrued income
-
41,020

Tax recoverable
7,978
-

161,146
97,539


Page 7

 
MAJOR FARM SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
30,955
850,700

Less: bank overdrafts
(106)
-

30,849
850,700



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
105
-

Trade creditors
19,647
23,865

Corporation tax
-
85,159

Other taxation and social security
19,159
42,003

Obligations under finance lease and hire purchase contracts
27,175
32,798

Other creditors
15,662
15,663

Accruals and deferred income
5,153
5,106

86,901
204,594


The following liabilities were secured:

2024
2023
£
£



Obligations under finance lease and hire purchase contracts
27,175
32,798

27,175
32,798

Details of security provided:

The hire purchase agreements are secured upon the asset that is financed.

Page 8

 
MAJOR FARM SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
80,091
2,213

80,091
2,213


The following liabilities were secured:

2024
2023
£
£



Oligations under finance lease and hire purchase contracts
80,091
2,213

80,091
2,213

Details of security provided:

The hire purchase agreements are secured upon the asset that is financed.


9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
27,175
32,798

Between 1-5 years
80,091
2,213

107,266
35,011


10.


Deferred taxation




2024
2023


£

£






At beginning of year
(27,605)
(25,072)


Charged to profit or loss
(7,670)
(2,533)



At end of year
(35,275)
(27,605)

Page 9

 
MAJOR FARM SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
10.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(35,275)
(27,605)

(35,275)
(27,605)


11.


Pension commitments

The company contributes to a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently adminstered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £1,131 (2023 £912)


12.


Controlling party

The company was controlled throughout the year by N Mauger by virtue of his shareholding.

 
Page 10