ACCOUNTS - Final Accounts preparation

Registered number: 15253450

GILBERTS FARM LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 NOVEMBER 2024


GILBERTS FARM LIMITED REGISTERED NUMBER:15253450

BALANCE SHEET

AS AT 30 NOVEMBER 2024

		2024
Note		£

Fixed assets
Tangible assets	4		476,662
			476,662
Current assets
Debtors: amounts falling due within one year	5	12,072
Cash at bank and in hand	6	16,258
		28,330
Creditors: amounts falling due within one year	7	(517,061)
Net current (liabilities)/assets			(488,731)
Total assets less current liabilities			(12,069)

Net (liabilities)/assets			(12,069)

Capital and reserves
Called up share capital	8	100
Profit and loss account		(12,169)
		(12,069)

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GILBERTS FARM LIMITED REGISTERED NUMBER:15253450

BALANCE SHEET (CONTINUED)

AS AT 30 NOVEMBER 2024

The director considers 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 period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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 profit and loss account 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:

A Gilbert

Director

Date: 29 October 2025

The notes on pages 3 to 6 form part of these financial statements.

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GILBERTS FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 NOVEMBER 2024

1.	General information

Gilberts Farm Limited is a private company, limited by shares, registred in England and Wales, registration number 15253450. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The company was incorporated and commenced its trading on 1 November 2023.
The principal activity of the company is that of the management of fishing lakes.

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 Section 1A of the Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006.

2.2

Going concern

The company has a net deficit of £12,069, included in this deficit is an amount of £10,427 owing to the director by way of a loan account. The director has confirmed that he will continue to support the company for the forseeable future and will not call upon this loan account balance until the relevant funds are available in the company. On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis.

2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from management of fishing lakes is recognised when it is probable the company will receive the rights to the consideration due under the contract.

2.4

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

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GILBERTS FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Other fixed assets

25%

reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6

Debtors

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

2.7

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as other debtors, trade and other creditors, and loans with related parties.

Employees

The average monthly number of employees, including the director, during the period was 1.

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GILBERTS FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 NOVEMBER 2024

4.	Tangible fixed assets

	Freehold land	Other fixed assets	Total
	£	£	£
Cost
Additions	470,497	6,575	477,072
At 30 November 2024	470,497	6,575	477,072
Depreciation
Charge for the period	-	410	410
At 30 November 2024	-	410	410
Net book value
At 30 November 2024	470,497	6,165	476,662

Debtors

					2024
					£


	Other debtors	5,023
	Prepayments	7,049
		12,072

6.	Cash
		2024
		£

	Cash at bank and in hand	16,258

7.	Creditors: amounts falling due within one year
		2024
		£

	Trade creditors	5,415
	Other creditors	509,346
	Accruals	2,300
		517,061

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GILBERTS FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 NOVEMBER 2024

8.	Share capital
		2024
		£

		Allotted, called up and fully paid

		100 ordinary shares of £1.00 each	100

On incorporation, the company issued 100 ordinary shares at a nominal value of £1 each.

9.	Commitments under operating leases
	At 30 November 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
		2024
		£

	Not later than 1 year	8,000
	Later than 1 year and not later than 5 years	7,500
		15,500

10.	Transactions with directors

During the period, the director advanced £10,427 to the company. At the period end, the company owed to the director £10,427. The loan is unsecured, interest free and repayable on demand.

11.	Related party transactions
	Included within creditors at the period end, is a balance of £498,919 due to companies under common control. These loans are interest free and repayable on demand.

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