Cambridge Farm Machinery Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01835189 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CAMBRIDGE FARM MACHINERY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Noble

G H Noble

REGISTERED OFFICE:

63 Church Road

Hauxton

Cambridge

CB22 5HS

REGISTERED NUMBER:

01835189 (England and Wales)

ACCOUNTANTS:

Thompson Taraz Rand Ltd

Chartered Accountants

10 Jesus Lane

Cambridge

Cambridgeshire

CB5 8BA

FIXED ASSETS

Tangible assets

5

38,431

56,902

CURRENT ASSETS

Stocks

1,149,170

982,404

Debtors

6

40,874

65,534

Cash and cash equivalents

18,103

114,308

1,208,147

1,162,246

CREDITORS

Amounts falling due within one year

7

(238,322

)

(198,191

)

NET CURRENT ASSETS

969,825

964,055

TOTAL ASSETS LESS CURRENT LIABILITIES

1,008,256

1,020,957

CREDITORS

Amounts falling due after more than one year

8

(3,438

)

(14,422

)

PROVISIONS FOR LIABILITIES

10

(8,064

)

(11,488

)

NET ASSETS

996,754

995,047

CAPITAL AND RESERVES

Called up share capital

11

103

Retained earnings

996,651

994,944

SHAREHOLDERS' FUNDS

996,754

995,047

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 Profit and loss account has not been delivered.

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

G H Noble - Director

1.	STATUTORY INFORMATION

Cambridge Farm Machinery 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

Useful economic lives of tangible fixed assets:

Tangible fixed assets are depreciated over their expected useful lives taking into consideration residual values, where appropriate. The actual lives of the assets and residual values are assessed and amended when necessary to reflect the current estimates based on economic utilisation and physical condition of the assets.

Doubtful debts:

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade debtors , management considers factors including the current credit rating of the debtor, the ageing of the debtor and historical experience regarding payment history.

Slow Moving Stock:

Management apply judgement in evaluating stock movement and possible obsolescence. This judgement is based on managements' knowledge of the stock, customer demand as well as stock age. At each balance sheet date stocks are reviewed for potential impairment and written down where appropriate.

Turnover

Turnover represents the sale of farm machinery, parts and servicing, after discounts, excluding Value Added Tax.

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

-

10% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% 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.

Financial instruments

Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 material 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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

COST

At 1 January 2024

and 31 December 2024

185,352

45,109

130,528

360,989

DEPRECIATION

At 1 January 2024

160,375

45,108

98,604

304,087

Charge for year

7,849

-

10,622

18,471

At 31 December 2024

168,224

45,108

109,226

322,558

NET BOOK VALUE

At 31 December 2024

17,128

1

21,302

38,431

At 31 December 2023

24,977

1

31,924

56,902

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

37,995

43,270

Other debtors

2,879

22,264

40,874

65,534

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts (see note 9)

10,617

9,873

Trade creditors

39,629

13,151

Taxation and social security

42,135

24,448

Other creditors

145,941

150,719

238,322

198,191

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Bank loans (see note 9)

3,438

14,422

9.

LOANS

Amounts included within bank loans and overdrafts represents the outstanding amount due on a Bounce Back Loan of £50,000.

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

Deferred tax

8,064

11,488

Deferred

tax

£

Balance at 1 January 2024

11,488

Credit to Profit and loss account during year

(4,278

)

Impact of rate movement on

854

opening balance

Balance at 31 December 2024

8,064

Deferred tax is recognised in respect of the excess of capital allowances over depreciation.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

100

Ordinary

£1

100

1

Ordinary B

£1

1

Ordinary D

£1

1

Ordinary E

£1

1

103

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

J Noble and G H Noble

Balance outstanding at start of year

-

27,173

Amounts advanced

40,850

5,056

Amounts repaid

(40,850

)

(32,229

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

13.	RELATED PARTY DISCLOSURES

During the year under review the company advanced £40,580 (2023: £5,057) to the directors. The balance outstanding at the year end amounted to nil (2023: nil). This loan is repayable on demand and bears interest at 2%. Interest of £nil (2023:£272) has been charged as income to the financial statements.