Company No: 12357662 (England and Wales)

Contents

• Company Information
• Accountant's Report
• Statement of Financial Position
• Notes to the Unaudited Financial Statements

DIRECTORS	Mr J M Peacock
	Ms A J Peacock
REGISTERED OFFICE	The Pottery
	Moorhaven Village
	Ivybridge
	Devon
	PL21 0HB
	United Kingdom
COMPANY NUMBER	12357662(England and Wales)
CHARTERED ACCOUNTANTS	Bishop Fleming LLP
	Salt Quay House
	4 North East Quay
	Sutton Harbour
	Plymouth
	PL4 0BN

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Moorhaven Farms Limited for the financial period ended 31 March 2020 which comprises the Statement of Financial Position and the related notes 1 to 7 from the Company’s accounting records and from information and explanations you have given us.

We are subject to the ethical and other professional requirements of the Institute of Chartered Accountants in England and Wales (ICAEW) which are detailed at _http://www.icaew.com/en/members/regulations-standards-and-guidance/_.

It is your duty to ensure that Moorhaven Farms Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Moorhaven Farms Limited. You consider that Moorhaven Farms Limited is exempt from the statutory audit requirement for the financial period.

We have not been instructed to carry out an audit or a review of the financial statements of Moorhaven Farms Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Board of Directors of Moorhaven Farms Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Moorhaven Farms Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Moorhaven Farms Limited and its Board of Directors as a body for our work or for this report.

Bishop Fleming LLP
Chartered Accountants

Salt Quay House
4 North East Quay
Sutton Harbour
Plymouth
PL4 0BN

26 March 2021

		2020
	Note	£
Current assets
Stocks	3	69,300
Debtors	4	3,335
Cash at bank and in hand		32,868
		105,503
Creditors
Amounts falling due within one year	5	( 139,296)
Net current liabilities		(33,793)
Total assets less current liabilities		(33,793)
Net liabilities		( 33,793)
Capital and reserves
Called-up share capital	6	1
Profit and loss account		( 33,794 )
Total shareholder's deficit		( 33,793)

For the financial period ending 31 March 2020 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Moorhaven Farms Limited (registered number: 12357662) were approved and authorised for issue by the Board of Directors on 25 March 2021. They were signed on its behalf by:

Ms A J Peacock Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period.

General information and basis of accounting

Moorhaven Farms Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Pottery, Moorhaven Village, Ivybridge, Devon, PL21 0HB, United Kingdom. The company's registered number is 12357662

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

The functional currency of Moorhaven Farms Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

	2020
	Number
Monthly average number of persons employed by the Company during the period, including directors	2

3. Stocks

	2020
	£
Work in progress (secured)	69,300
	69,300

4. Debtors

	2020
	£
Other debtors	3,335
	3,335

5. Creditors: amounts falling due within one year

	2020
	£
Trade creditors	4,297
Amounts owed to Group undertakings	134,999
	139,296

6. Called-up share capital and reserves

	2020
	£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1
	1

On incorporation, the company issued 1 ordinary share with the nominal value of £1.

7. Related party transactions

As the Company is a wholly owned subsidiary of Moorhaven Holdings Limited, the company has taken advantage of the exemption contained in s. 1AC.35 of FRS102, and not disclosed transactions or balances with wholly owned subsidiaries which form part of the group.