ACCOUNTS - Final Accounts preparation

Registered number: 12752006

VALE FARM BARNS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024


VALE FARM BARNS LIMITED REGISTERED NUMBER:12752006

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£


Current assets
Work in progress		1,434,218		1,024,747
Debtors	4	209,183		96,747
Cash at bank and in hand		238,950		3,990
		1,882,351		1,125,484
Creditors: amounts falling due within one year	5	(1,737,936)		(822,633)
Net current assets			144,415		302,851

Net assets			144,415		302,851

Capital and reserves
Called up share capital	10	10
Profit and loss account	144,405	302,841
	144,415	302,851

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VALE FARM BARNS LIMITED REGISTERED NUMBER:12752006

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 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 income statement 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:

................................................

J E Gunns

Director

Date: 26 September 2025

The notes on pages 3 to 5 form part of these financial statements.

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VALE FARM BARNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Vale Farm Barns Limited is a private company, limited by shares, and incorporated in England and Wales. The Company's registered number is 12752006 and registered office address is Airfield Industrial Estate, Mile Road, Shipdham, Norfolk, IP25 7SD.

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 financial statements are presented in sterling, which is the functional currency of the Company, and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years unless otherwise stated.

2.2

Going concern

The directors have considered the Company's position at the time of signing the financial statements. In assessing the appropriateness of the going concern basis, the directors have reviewed future trading expectations and considered the Company's trading performance since the year end.
The directors expect the Company to have adequate resources to continue in operational existence for the foreseeable future and at least twelve months from the date of signing these financial statements. The directors therefore continue to adopt the going concern basis of accounting in preparing the Company's financial statements.

2.3

Interest income

Interest income is recognised in the Income Statement using the effective interest method.

2.4

Finance costs

Finance costs are charged to the Income Statement 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.

2.5

Borrowing costs

All borrowing costs are recognised in the Income Statement in the year in which they are incurred.

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VALE FARM BARNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Taxation

Tax is recognised in the Income Statement 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 reporting date in the countries where the Company operates and generates income.

2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

2.8

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.

2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment.

2.10

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.

2.11

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.

Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 1).

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VALE FARM BARNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Trade debtors	3,061	-
Other debtors	205,189	89,513
Prepayments	933	7,234
	209,183	96,747

Other debtors includes amounts owed by directors of £169,972 (2023 - £73,455). These loans are repayable on demand and interest is charged in line with the official rate of interest.

5.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Other loans	1,000,000	-
Trade creditors	5,550	10,305
Amounts owed to group undertakings	70,602	-
Corporation tax	57,339	91,217
Other taxation and social security	2,907	636
Other creditors	592,806	716,675
Accruals and deferred income	8,732	3,800
	1,737,936	822,633

Other loans of £1,000,000 (2023 - £Nil) are secured against the assets of the company. There are no set repayment terns and interest is charged at a rate of 7.5%.

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