Old Helyers Farm Ltd Filleted accounts for Companies House (small and micro)

OLD HELYERS FARM LTD - Company Information

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COMPANY REGISTRATION NUMBER: 12922833

Old Helyers Farm Ltd

Filleted Unaudited Financial Statements

31 October 2021

Old Helyers Farm Ltd

Statement of Financial Position

31 October 2021

	31 Oct 21
Note	£

Fixed assets

Tangible assets	4	136,717
Investments	5	574,906
		---------
		711,623

Current assets

Debtors	6	305,313
Cash at bank and in hand		7,331
		---------
		312,644

Creditors: amounts falling due within one year	7	573,784
		---------
Net current liabilities		261,140
		---------
Total assets less current liabilities		450,483
		---------
Net assets		450,483
		---------

Capital and reserves

Called up share capital	500,000
Profit and loss account	( 49,517)
	---------
Shareholders funds	450,483
	---------

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 comprehensive income has not been delivered.

For the period ending 31 October 2021 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 period 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 .

Old Helyers Farm Ltd

Statement of Financial Position (continued)

31 October 2021

These financial statements were approved by the board of directors and authorised for issue on 26 January 2022 , and are signed on behalf of the board by:

Mr R Davison

Director

Company registration number: 12922833

Old Helyers Farm Ltd

Accounting Policies

Period from 2 October 2020 to 31 October 2021

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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:

	Plant and machinery	-	Over two to ten years

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy). 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. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Old Helyers Farm Ltd

Notes to the Financial Statements

Period from 2 October 2020 to 31 October 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Wealden House, 33 High Street, Steyning, West Sussex, BN44 3YE, United Kingdom.

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. Employee numbers

The average number of persons employed by the company during the period amounted to 1 .

4. Tangible assets

	Freehold property	Plant and machinery	Total
	£	£	£
Cost
At 2 October 2020	–	–	–
Additions	90,941	51,607	142,548
	--------	--------	---------
At 31 October 2021	90,941	51,607	142,548
	--------	--------	---------
Depreciation
At 2 October 2020	–	–	–
Charge for the period	–	5,831	5,831
	--------	--------	---------
At 31 October 2021	–	5,831	5,831
	--------	--------	---------
Carrying amount
At 31 October 2021	90,941	45,776	136,717
	--------	--------	---------

5. Investments

	Shares in group undertakings
	£
Cost
At 2 October 2020	–
Additions	574,906
	---------
At 31 October 2021	574,906
	---------
Impairment
At 2 October 2020 and 31 October 2021	–
	---------

Carrying amount
At 31 October 2021	574,906
	---------

6. Debtors

	31 Oct 21
	£
Other debtors	305,313
	---------

7. Creditors: amounts falling due within one year

	31 Oct 21
	£
Other creditors	573,784
	---------