Rays Farm Business Units Limited Filleted accounts for Companies House (small and micro)
Rays Farm Business Units Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
06373783
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Statement of Financial Position |
2022 |
2021 |
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Note |
£ |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Cash at bank and in hand |
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Creditors: amounts falling due within one year |
6 |
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--------- |
--------- |
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Net current liabilities |
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--------- |
--------- |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
7 |
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--------- |
--------- |
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Net assets |
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--------- |
--------- |
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Capital and reserves
Called up share capital |
8 |
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Profit and loss account |
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--------- |
--------- |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
8 December 2022
, and are signed on behalf of the board by:
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Director |
Director |
Company registration number:
06373783
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Notes to the Financial Statements |
Year ended 31 March 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Phillows Farm, Hammonds Road, Little Baddow, Chelmsford, Essex, CM3 4BG.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Revenue recognition
Income tax
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & fittings |
- |
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Equipment |
- |
10% straight line |
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Investment property
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Average number of employees
The average number of employees during the year was 2 (2021: 2).
5.
Tangible assets
Land and buildings |
Fixtures and fittings |
Equipment |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 April 2021 |
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1,175 |
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Additions |
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– |
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-------- |
------- |
--------- |
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At 31 March 2022 |
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1,175 |
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-------- |
------- |
--------- |
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Depreciation |
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At 1 April 2021 |
– |
|
353 |
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Charge for the year |
– |
|
117 |
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--------- |
-------- |
------- |
--------- |
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At 31 March 2022 |
– |
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470 |
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-------- |
------- |
--------- |
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Carrying amount |
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At 31 March 2022 |
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705 |
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------- |
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At 31 March 2021 |
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822 |
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The directors have revalued the freehold property on an open market basis and in their opinion the freehold investment property is as stated in the financial statements. The historical cost of the Investment Property is £502,507 (2021: £502,399).
6.
Creditors:
amounts falling due within one year
2022 |
2021 |
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£ |
£ |
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Bank loans and overdrafts |
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Accruals and deferred income |
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Corporation tax |
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Director loan accounts |
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Other creditors |
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--------- |
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7.
Creditors:
amounts falling due after more than one year
2022 |
2021 |
|
£ |
£ |
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Bank loans and overdrafts |
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-------- |
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Included within creditors: amounts falling due after more than one year is an amount of £Nil (2021: £9,975) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
8.
Called up share capital
Issued, called up and fully paid
2022 |
2021 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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9.
Related party transactions
Loans repaid/ (Additional loans) | Balance at 31 Mar Dr/(Cr) | ||
£ | £ | ||
Directors | |||
31 March 2022 | 12,390 | (78,227) | |
31 March 2021 | (82,915) | (90,617) | |
Other related parties | |||
31 March 2022 | – | (75,328) | |
31 March 2021 | – | (75,328) | |