Carr Farmers Management Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04128490

CARR FARMERS MANAGEMENT LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2024

CARR FARMERS MANAGEMENT LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		2,835,918		2,706,379

CURRENT ASSETS

Stocks		642,262	680,331
Debtors	6	253,240	263,676
Cash at bank and in hand		700	700
		---------	---------
		896,202	944,707

CREDITORS: amounts falling due within one year	7	610,859		568,524
		---------		---------
NET CURRENT ASSETS			285,343		376,183
			------------		------------
TOTAL ASSETS LESS CURRENT LIABILITIES			3,121,261		3,082,562

CREDITORS: amounts falling due after more than one year	8		690,180		670,844

PROVISIONS	128,277	123,436
	------------	------------
NET ASSETS	2,302,804	2,288,282
	------------	------------

CAPITAL AND RESERVES

Called up share capital	2	2
Profit and loss account	2,302,802	2,288,280
	------------	------------
SHAREHOLDERS FUNDS	2,302,804	2,288,282
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

CARR FARMERS MANAGEMENT LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 17 September 2025 , and are signed on behalf of the board by:

Mr L D Carr	Mr S W Carr
Director	Director

Company registration number: 04128490

CARR FARMERS MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Poplar Farm, Chelveston, Wellingborough, Northamptonshire, NN9 6AR.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis and are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Motor vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 8 (2023: 8 ).

5. TANGIBLE ASSETS

	Freehold property	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2024	2,215,719	973,145	67,315	3,256,179
Additions	6,393	303,600	–	309,993
Disposals	–	( 145,500)	–	( 145,500)
	------------	------------	--------	------------
At 31 December 2024	2,222,112	1,131,245	67,315	3,420,672
	------------	------------	--------	------------
Depreciation
At 1 January 2024	–	496,928	52,872	549,800
Charge for the year	–	106,407	3,611	110,018
Disposals	–	( 75,064)	–	( 75,064)
	------------	------------	--------	------------
At 31 December 2024	–	528,271	56,483	584,754
	------------	------------	--------	------------
Carrying amount
At 31 December 2024	2,222,112	602,974	10,832	2,835,918
	------------	------------	--------	------------
At 31 December 2023	2,215,719	476,217	14,443	2,706,379
	------------	------------	--------	------------

6. DEBTORS

	2024	2023
	£	£
Trade debtors	188,012	198,678
Other debtors	65,228	64,998
	---------	---------
	253,240	263,676
	---------	---------

7. CREDITORS: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	66,227	125,906
Trade creditors	45,439	25,788
Amounts owed to group undertakings and undertakings in which the company has a participating interest	374,259	278,476
Social security and other taxes	18,949	33,320
Other creditors	105,985	105,034
	---------	---------
	610,859	568,524
	---------	---------

The bank loans and overdrafts liability as disclosed above are secured by the company.

Included within other creditors are amounts totalling £82,170 (2023 - £71,650) relating to hire purchase agreements which are secured by the company.

8. CREDITORS: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	567,677	644,201
Other creditors	122,503	26,643
	---------	---------
	690,180	670,844
	---------	---------

The bank loans and overdrafts liability, as disclosed above, are secured by a legal charge over the company's assets. Of the amounts shown above £418,748 (2023 - £450,175) is payable by instalments which are due for payment after more than five years from the reporting date.

Included within other creditors are amounts totalling £122,503 (2023 - £26,643) relating to hire purchase agreements which are secured by the company.