REGISTERED NUMBER: 12454407 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2025

for

Folly Fields Farm Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K B Davis

Mrs E H Davis

J D Newbold

Mrs H B Newbold

REGISTERED OFFICE:

Folly Fields Farm

Wicken

Milton Keynes

Buckinghamshire

MK19 6BH

REGISTERED NUMBER:

12454407 (England and Wales)

ACCOUNTANTS:

Butler & Co Alresford Limited

Chartered Accountants

The Old Stables

Sutton Manor Farm

Bishops Sutton

Alresford

Hampshire

SO24 0AA

FIXED ASSETS

Tangible assets

4

198,308

187,906

CURRENT ASSETS

Stocks

5

8,438

8,438

Debtors

6

27,485

9,506

Cash at bank

19,441

16,301

55,364

34,245

CREDITORS

Amounts falling due within one year

7

93,372

66,179

NET CURRENT LIABILITIES

(38,008

)

(31,934

)

TOTAL ASSETS LESS CURRENT LIABILITIES

160,300

155,972

CREDITORS

Amounts falling due after more than one year

8

(39,124

)

(27,575

)

PROVISIONS FOR LIABILITIES

9

-

(1,201

)

NET ASSETS

121,176

127,196

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

121,076

127,096

121,176

127,196

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 14 October 2025 and were signed on its behalf by:

Mrs H B Newbold - Director

1.	STATUTORY INFORMATION

Folly Fields Farm 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.

Barn and fencing

-

not provided

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% 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.

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 4 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Barn and

Plant and

and

fencing

machinery

fittings

£

£

£

COST

At 1 March 2024

155,042

62,365

17,319

Additions

27,093

-

5,625

At 28 February 2025

182,135

62,365

22,944

DEPRECIATION

At 1 March 2024

-

40,929

12,413

Charge for year

-

12,471

4,029

At 28 February 2025

-

53,400

16,442

NET BOOK VALUE

At 28 February 2025

182,135

8,965

6,502

At 29 February 2024

155,042

21,436

4,906

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 March 2024

27,000

11,228

272,954

Additions

-

1,059

33,777

At 28 February 2025

27,000

12,287

306,731

DEPRECIATION

At 1 March 2024

21,600

10,106

85,048

Charge for year

5,400

1,475

23,375

At 28 February 2025

27,000

11,581

108,423

NET BOOK VALUE

At 28 February 2025

-

706

198,308

At 29 February 2024

5,400

1,122

187,906

5.

STOCKS

2025

2024

£

£

Sheep valuation

8,438

8,438

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

22,315

7,273

Other debtors

-

100

VAT

3,665

2,133

Deferred tax asset

1,505

-

27,485

9,506

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Tax

4,176

9,923

Social security and other taxes

1,052

332

DDWF Ltd loan

6,750

9,000

Bounce Back loan

6,000

6,000

Other bank loans

12,000

-

Directors' current accounts

62,019

39,274

Accrued expenses

1,375

1,650

93,372

66,179

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bounce Back loan

18,032

27,575

Other bank loans

21,092

-

39,124

27,575

9.	PROVISIONS FOR LIABILITIES

2024

£

Deferred tax

1,201

Deferred

tax

£

Balance at 1 March 2024

1,201

Accelerated capital allowances

(2,706

)

Balance at 28 February 2025

(1,505

)

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £14,000 (2024 - £6,000) were paid to the directors .

Mrs Helen Newbold

A director and shareholder of the company.

Mrs Newbold has made available a directors loan facility to the company. The balance owed at the year end was £52,165 (2024: £29,367). This balance is given interest free and is unsecured.

Mr Keith Davis

A director and shareholder of the company.

Mr Keith Davis, a director of the company, made available freehold land on which the company traded, during the period under review. No charge was made for provision of the freehold land. Mr Davis has confirmed that he will continue to support the company for at least twelve months beyond the approval date of these financial statements, and will not withdraw the land provision during this time.

Mr Davis has made available a directors loan facility to the company. The balance owed at the year end was £9,855 (2024: £9,907). This balance is given interest free and is unsecured.