Shutts Farm Machinery Ltd - Filleted accounts

Registered number

08502889

Shutts Farm Machinery Ltd

Filleted Accounts

29 April 2025

Shutts Farm Machinery Ltd
Registered number:		08502889
Balance Sheet
as at 29 April 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		615,548			464,093

Current assets
Stocks		112,000			112,000
Debtors	4	104,883			35,422
Cash at bank and in hand		10,123			1,172
		227,006			148,594

Creditors: amounts falling due within one year	5	(277,736)			(326,789)

Net current liabilities			(50,730)			(178,195)

Total assets less current liabilities			564,818			285,898

Creditors: amounts falling due after more than one year	6		(335,342)			(85,840)



Net assets			229,476			200,058

Capital and reserves
Called up share capital			100			100
Profit and loss account			229,376			199,958

Shareholder's funds			229,476			200,058

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




R J Corbridge
Director
Approved by the board on 29 April 2026

Shutts Farm Machinery Ltd
Notes to the Accounts
for the year ended 29 April 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	over 4 years
	Farm machinery	over 7 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			1		1


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 30 April 2024	115,319		499,948		615,267
	Additions	-		306,401		306,401
	At 29 April 2025	115,319		806,349		921,668

	Depreciation
	At 30 April 2024	-		151,174		151,174
	Charge for the year	-		154,946		154,946
	At 29 April 2025	-		306,120		306,120

	Net book value
	At 29 April 2025	115,319		500,229		615,548
	At 29 April 2024	115,319		348,774		464,093


4	Debtors			2025		2024
£					£

	Trade debtors			104,713		35,252
	Other debtors			170		170
				104,883		35,422


5	Creditors: amounts falling due within one year			2025		2024
£					£

	Bank loans and overdrafts			48,069		98,684
	Obligations under finance lease and hire purchase contracts			35,649		55,563
	Trade creditors			190,393		169,743
	Taxation and social security costs			3,625		2,799
				277,736		326,789


6	Creditors: amounts falling due after one year			2025		2024
£					£

	Bank loans			9,564		9,564
	Obligations under finance lease and hire purchase contracts			11,667		59,816
	Other creditors			314,111		16,460
				335,342		85,840


7	Other information

	Shutts Farm Machinery Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Shutts Farm, Shutts Lane
	Shutts Lane
	Bakewell
	Derbyshire
	DE45 1JA