REGISTERED NUMBER: 00617839 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MARTIN AINSCOUGH FARMS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M J Ainscough

Mrs M E Ainscough

Mrs H M Ainscough

SECRETARY:

Mrs M E Ainscough

REGISTERED OFFICE:

Woodlands

Parbold

Wigan

Lancashire

WN8 7AN

REGISTERED NUMBER:

00617839 (England and Wales)

ACCOUNTANTS:

Fairhurst Accountants Ltd

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Tangible assets

4

629,112

803,158

CURRENT ASSETS

Stocks

163,159

148,911

Debtors

5

60,578

83,234

Cash at bank and in hand

22,765

27,187

246,502

259,332

CREDITORS

Amounts falling due within one year

6

774,763

787,309

NET CURRENT LIABILITIES

(528,261

)

(527,977

)

TOTAL ASSETS LESS CURRENT LIABILITIES

100,851

275,181

CREDITORS

Amounts falling due after more than one year

7

162,284

33,968

NET (LIABILITIES)/ASSETS

(61,433

)

241,213

CAPITAL AND RESERVES

Called up share capital

46,650

46,650

Share premium

337,350

337,350

Retained earnings

(445,433

)

(142,787

)

SHAREHOLDERS' FUNDS

(61,433

)

241,213

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

M J Ainscough - Director

1.	STATUTORY INFORMATION

Martin Ainscough Farms 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.

Turnover represents the net invoiced value of goods sold.

Tangible fixed assets

Tangible fixed assets are included at cost or valuation less depreciation and impairment.

Depreciation is provided at the following rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold buildings

-

5% on reducing balance

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Impairment of assets

At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Stocks

The company has elected for the herd basis, thereby excluding from trading stock the mature animals in the production herd and treating them as fixed assets. Immature animals remain in trading stock.

Financial instruments

Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Short term trade creditors are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.

Amounts due to and from related undertakings, included directors, are repayable on demand and are measured at the undiscounted amount due. Other liabilities shall be measured at amortised cost using the effective interest rate.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 4 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Beef herd

Land and

and sheep

Plant and

Buildings

flock

machinery

£

£

£

COST

At 1 January 2024

239,890

297,140

1,229,442

Disposals

-

(101,606

)

-

At 31 December 2024

239,890

195,534

1,229,442

DEPRECIATION

At 1 January 2024

184,183

-

814,068

Charge for year

2,710

-

51,095

Eliminated on disposal

-

-

-

At 31 December 2024

186,893

-

865,163

NET BOOK VALUE

At 31 December 2024

52,997

195,534

364,279

At 31 December 2023

55,707

297,140

415,374

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

95,963

11,311

1,873,746

Disposals

(17,600

)

-

(119,206

)

At 31 December 2024

78,363

11,311

1,754,540

DEPRECIATION

At 1 January 2024

62,316

10,021

1,070,588

Charge for year

5,112

323

59,240

Eliminated on disposal

(4,400

)

-

(4,400

)

At 31 December 2024

63,028

10,344

1,125,428

NET BOOK VALUE

At 31 December 2024

15,335

967

629,112

At 31 December 2023

33,647

1,290

803,158

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

36,959

19,600

Other debtors

23,619

63,634

60,578

83,234

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

32,100

54,846

Trade creditors

41,748

44,922

Amounts owed to related undertakings

113,597

146,597

Taxation and social security

1,510

3,378

Other creditors

585,808

537,566

774,763

787,309

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

2,284

33,968

Other creditors

160,000

-

162,284

33,968

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase

34,384

88,814

Hire purchase contracts are secured on the assets concerned.

9.	RELATED PARTY DISCLOSURES