Low Carbon Farming 3 Limited Filleted accounts for Companies House (small and micro)

LOW CARBON FARMING 3 LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 11093451

LOW CARBON FARMING 3 LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 August 2020

LOW CARBON FARMING 3 LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2020

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

LOW CARBON FARMING 3 LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	Mr A J Allen
	Mr O M L Soper
	Mr S A Turner

Registered office	8-9 Ship Street
	Brighton
	East Sussex
	BN1 1AD

Accountants	UHY Hacker Young
	Chartered accountants
	168 Church Road
	Hove
	BN3 2DL

LOW CARBON FARMING 3 LIMITED

STATEMENT OF FINANCIAL POSITION

31 August 2020

	2020	2019
Note	£	£

Current assets

Stocks		211,665	215,189
Debtors	4	16	16
Cash at bank and in hand		2,373	1,502
		----------	----------
		214,054	216,707

Creditors: amounts falling due within one year	5	216,070	218,157
		----------	----------
Net current liabilities		2,016	1,450
		-------	-------
Total assets less current liabilities		( 2,016)	( 1,450)
		-------	-------
Net liabilities		( 2,016)	( 1,450)
		-------	-------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 2,116)	( 1,550)
	-------	-------
Shareholders deficit	( 2,016)	( 1,450)
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 August 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 year in question 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 .

LOW CARBON FARMING 3 LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 August 2020

These financial statements were approved by the board of directors and authorised for issue on 30 April 2021 , and are signed on behalf of the board by:

Mr A J Allen

Director

Company registration number: 11093451

LOW CARBON FARMING 3 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8-9 Ship Street, Brighton, BN1 1AD, East Sussex.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared under the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon the continuing support of the associated companies

If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of the assets to their recoverable amounts and to provide for further liabilities that might arise. The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

4. Debtors

	2020	2019
	£	£
Other debtors	16	16
	----	----

5. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	–	3,082
Amounts owed to group undertakings and undertakings in which the company has a participating interest	215,564	206,641
Social security and other taxes	–	7,934
Other creditors	506	500
	----------	----------
	216,070	218,157
	----------	----------

6. Holding company

The company was under the control of the directors throughout the previous and current period. Low Carbon Farming Ltd owed 84% of the shares in the company. As at 31 August 2019 the company owed Low Carbon Farming Ltd £215,564 (2019: £206,641).

7. Controlling party

The company is subsidiary of Low Carbon Farming Limited, a company registered in England and Wales. Low Carbon Farming Ltd owed 84% of the shares. The registered office of this company is 8-9 Ship Street, Brighton, East Sussex BN1 1AD.