REGISTERED NUMBER: 07645692 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Folkingham Agriservices Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G J F Atkinson

Mrs C L Atkinson

H E Fountaine

REGISTERED OFFICE:

High Park Farm

Kirkby Underwood Road

Aslackby

Sleaford

NG34 0HP

REGISTERED NUMBER:

07645692 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

Northgate House

Northgate

Sleaford

Lincolnshire

NG34 7BZ

FIXED ASSETS

Tangible assets

4

810,467

892,350

CURRENT ASSETS

Stocks

21,700

9,000

Debtors

5

685,216

214,744

Cash at bank

262,570

560,490

969,486

784,234

CREDITORS

Amounts falling due within one year

6

254,982

272,608

NET CURRENT ASSETS

714,504

511,626

TOTAL ASSETS LESS CURRENT LIABILITIES

1,524,971

1,403,976

CREDITORS

Amounts falling due after more than one year

7

(54,039

)

(90,000

)

PROVISIONS FOR LIABILITIES

(195,124

)

(129,279

)

NET ASSETS

1,275,808

1,184,697

CAPITAL AND RESERVES

Called up share capital

8

90

100

Capital redemption reserve

10

-

Retained earnings

1,275,708

1,184,597

SHAREHOLDERS' FUNDS

1,275,808

1,184,697

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

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 Board of Directors and authorised for issue on 1 September 2025 and were signed on its behalf by:

Mrs C L Atkinson - Director

G J F Atkinson - Director

1.	STATUTORY INFORMATION

Folkingham Agriservices 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.

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.

Plant and machinery

-

20% on reducing balance

Computer equipment

-

33% on reducing balance

Motor vehicles

-

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.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

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 5 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

Motor

machinery

equipment

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

1,525,127

755

7,000

1,532,882

Additions

170,113

-

-

170,113

Disposals

(133,500

)

-

-

(133,500

)

At 31 March 2025

1,561,740

755

7,000

1,569,495

DEPRECIATION

At 1 April 2024

634,722

472

5,338

640,532

Charge for year

205,843

93

416

206,352

Eliminated on disposal

(87,856

)

-

-

(87,856

)

At 31 March 2025

752,709

565

5,754

759,028

NET BOOK VALUE

At 31 March 2025

809,031

190

1,246

810,467

At 31 March 2024

890,405

283

1,662

892,350

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

39,335

22,437

Other debtors

645,881

192,307

685,216

214,744

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

108,133

140,427

Trade creditors

51,510

66,129

Taxation and social security

87,449

54,669

Other creditors

7,890

11,383

254,982

272,608

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

54,039

90,000

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

90

Ordinary A shares

1

90

90

10

Ordinary B shares

1

-

10

90

100