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REGISTERED NUMBER: 06779267 (England and Wales)















GOFARM LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025






GOFARM LIMITED (REGISTERED NUMBER: 06779267)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GOFARM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2025







DIRECTORS: G M Morgan
J M Morgan
R D B Morgan





SECRETARY: G M Morgan





REGISTERED OFFICE: Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU





REGISTERED NUMBER: 06779267 (England and Wales)





ACCOUNTANTS: Green & Co
Chartered Certified Accountants
Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU

GOFARM LIMITED (REGISTERED NUMBER: 06779267)

BALANCE SHEET
31ST MARCH 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 251,941 326,290

CURRENT ASSETS
Stocks 902,125 794,115
Debtors 5 138,943 121,698
Cash at bank 21,339 15,812
1,062,407 931,625
CREDITORS
Amounts falling due within one year 6 729,989 659,500
NET CURRENT ASSETS 332,418 272,125
TOTAL ASSETS LESS CURRENT
LIABILITIES

584,359

598,415

CREDITORS
Amounts falling due after more than one
year

7

(241,465

)

(312,806

)

PROVISIONS FOR LIABILITIES (62,985 ) (36,384 )
NET ASSETS 279,909 249,225

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 279,809 249,125
SHAREHOLDERS' FUNDS 279,909 249,225

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

GOFARM LIMITED (REGISTERED NUMBER: 06779267)

BALANCE SHEET - continued
31ST MARCH 2025


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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26th August 2025 and were signed on its behalf by:





G M Morgan - Director


GOFARM LIMITED (REGISTERED NUMBER: 06779267)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025

1. STATUTORY INFORMATION

GOFarm 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance

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 Profit and Loss, 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.

GOFARM LIMITED (REGISTERED NUMBER: 06779267)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2025

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 7 (2024 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1st April 2024 922,719
Additions 9,632
At 31st March 2025 932,351
DEPRECIATION
At 1st April 2024 596,429
Charge for year 83,981
At 31st March 2025 680,410
NET BOOK VALUE
At 31st March 2025 251,941
At 31st March 2024 326,290

Included in plant and machinery are assets under hire purchase agreements with a net book value of £205,997 (2024: £274,662). Depreciation of £68,666 (2024: £91,554) was charged on these assets.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 129,243 110,902
VAT 9,700 10,796
138,943 121,698

GOFARM LIMITED (REGISTERED NUMBER: 06779267)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2025

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 10,000 10,133
Hire purchase contracts 52,134 54,311
Trade creditors 104,138 57,529
Corporation Tax 14,361 -
Social security and other taxes 2,781 2,677
Other creditors 100,000 100,000
Directors' loan accounts 442,236 430,545
Accrued expenses 4,339 4,305
729,989 659,500

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2025 2024
£    £   
Bank loans - 1-2 years 10,386 10,386
Bank loans - 2-5 years - 10,315
Hire purchase contracts 231,079 292,105
241,465 312,806

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
100 ORD £1 100 100

9. RELATED PARTY DISCLOSURES

The company owed £442,236 (2024 - £430,545) to W B and T M Morgan a partnership in which all the directors are partners.