General Information
JDB Farming Limited is a private company, limited by shares, registered in England, registration number 11790443, registration address 1a Sandringham Drive, Spondon, Derby, Derbyshire, DE21 7QL.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
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).
Going concern basis
The directors believe that they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements. Where the company does not have adequate resources, the director will personally fund the company to enable it to continue trading.
Turnover
Turnover comprises the invoiced value of goods and livestock sold, services supplied by the company and other farming receipts. Turnover is shown net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Plant and Machinery |
25% Reducing Balance
|
| Fixtures and Fittings |
15% Reducing Balance
|
Stocks
Stock has been valued at the lower of cost and net realisable value. Cost is determined on a first in, first out (FIFO) basis. Purchased livestock is value at cost of purchase plus cost of rearing to the valuation date or maturity, if earlier. Where it is not possible to value the livestock, a deemed cost has been used. The deemed cost is a percentage of a reasonable estimate of the open market value. The percentage in the case of livestock being:
Cattle 60% of open market value
Borrowing costs
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
|
| 2. |
Average number of employees Average number of employees during the period was 0 (2025 : 0). |
| 3. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Fixtures and Fittings |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 February 2025 |
5,810 |
|
159 |
|
5,969 |
| Additions |
- |
|
- |
|
- |
| Disposals |
- |
|
- |
|
- |
| At 31 January 2026 |
5,810 |
|
159 |
|
5,969 |
| Depreciation |
| At 01 February 2025 |
4,240 |
|
81 |
|
4,321 |
| Charge for year |
392 |
|
12 |
|
404 |
| On disposals |
- |
|
- |
|
- |
| At 31 January 2026 |
4,632 |
|
93 |
|
4,725 |
| Net book values |
| Closing balance as at 31 January 2026 |
1,178 |
|
66 |
|
1,244 |
| Opening balance as at 01 February 2025 |
1,570 |
|
78 |
|
1,648 |
|
| 4. |
Stocks
|
2026
£ |
|
2025
£ |
| Stocks |
- |
|
2,829 |
|
- |
|
2,829 |
|
| 5. |
Creditors: amount falling due within one year
|
2026
£ |
|
2025
£ |
| Bank Loans & Overdrafts |
836 |
|
2,492 |
| Accrued Expenses |
181 |
|
314 |
| Directors' Current Accounts |
27,244 |
|
26,410 |
|
28,261 |
|
29,216 |
The Bounce Back Loan is 100% Government guaranteed. Amounts loaned to the company from the director are interest free and repayable on demand. |
| 6. |
Creditors: amount falling due after more than one year
|
2026
£ |
|
2025
£ |
| Bank Loans & Overdrafts |
- |
|
836 |
|
- |
|
836 |
The Bounce Back Loan is 100% Government guaranteed.
|
| 7. |
Share Capital
Allotted, called up and fully paid
|
2026
£ |
|
2025
£ |
|
100
Class A shares of £1.00 each |
100 |
|
100 |
|
100 |
|
100 |
|
2
|