Perry's Bridge Farm Limited Filleted accounts for Companies House (small and micro)

PERRY'S BRIDGE FARM LIMITED - Company Information

4 false false false false false false false false false true false false false false false false No description of principal activity 2021-06-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 05817551 2021-06-01 2022-05-31 05817551 2022-05-31 05817551 2021-05-31 05817551 2020-06-01 2021-05-31 05817551 2021-05-31 05817551 core:PlantMachinery 2021-06-01 2022-05-31 05817551 core:MotorVehicles 2021-06-01 2022-05-31 05817551 bus:OrdinaryShareClass1 2021-06-01 2022-05-31 05817551 bus:Director2 2021-06-01 2022-05-31 05817551 core:PlantMachinery 2021-05-31 05817551 core:MotorVehicles 2021-05-31 05817551 core:PlantMachinery 2022-05-31 05817551 core:MotorVehicles 2022-05-31 05817551 core:WithinOneYear 2022-05-31 05817551 core:WithinOneYear 2021-05-31 05817551 core:AfterOneYear 2022-05-31 05817551 core:AfterOneYear 2021-05-31 05817551 core:ShareCapital 2022-05-31 05817551 core:ShareCapital 2021-05-31 05817551 core:RetainedEarningsAccumulatedLosses 2022-05-31 05817551 core:RetainedEarningsAccumulatedLosses 2021-05-31 05817551 core:PlantMachinery 2021-05-31 05817551 core:MotorVehicles 2021-05-31 05817551 bus:SmallEntities 2021-06-01 2022-05-31 05817551 bus:AuditExemptWithAccountantsReport 2021-06-01 2022-05-31 05817551 bus:FullAccounts 2021-06-01 2022-05-31 05817551 bus:SmallCompaniesRegimeForAccounts 2021-06-01 2022-05-31 05817551 bus:PrivateLimitedCompanyLtd 2021-06-01 2022-05-31 05817551 bus:OrdinaryShareClass1 2022-05-31 05817551 bus:OrdinaryShareClass1 2021-05-31

COMPANY REGISTRATION NUMBER: 05817551

Perry's Bridge Farm Limited

Filleted Unaudited Financial Statements

31 May 2022

Perry's Bridge Farm Limited

Statement of Financial Position

31 May 2022

	2022		2021
Note	£	£	£

Fixed assets

Tangible assets	5		161,501	184,137

Current assets

Stocks		39,216	4,300
Debtors	6	41,032	44,703
Cash at bank and in hand		80,794	141,135
		---------	---------
		161,042	190,138

Creditors: amounts falling due within one year	7	54,445		95,176
		---------		---------
Net current assets			106,597	94,962
			---------	---------
Total assets less current liabilities			268,098	279,099

Creditors: amounts falling due after more than one year	8		67,972	80,539

Provisions

Taxation including deferred tax	10,459	11,761
	---------	---------
Net assets	189,667	186,799
	---------	---------

Capital and reserves

Called up share capital	9	2	2
Profit and loss account		189,665	186,797
		---------	---------
Shareholders funds		189,667	186,799
		---------	---------

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

For the financial year ended 31 May 2022, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies and the members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Perry's Bridge Farm Limited

Statement of Financial Position (continued)

31 May 2022

These financial statements were approved by the board of directors and authorised for issue on 13 February 2023 , and are signed on behalf of the board by:

Mrs R M Sharp
Director

Company registration number: 05817551

Perry's Bridge Farm Limited

Notes to the Financial Statements

Year ended 31 May 2022

1. General information

The address of the registered office is 6 The Linen Yard, South Street, Crewkerne, Somerset, TA18 8AB. The principal place of business is Perry Hill, Lydford on Fosse, Somerton, Somerset, TA11 7BF.

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. 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.

Income tax

Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences to the extent that it is foreseen that a net liability will arise or a net asset will be recovered.

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:

Equipment	-	25% reducing balance
Motor Vehicles	-	25% reducing balance
Poultry House	-	5% straight line

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.

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 and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2021: 4 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 June 2021	168,356	72,967	283,575	524,898
Additions	4,175	–	–	4,175
Disposals	–	( 16,500)	–	( 16,500)
	---------	--------	---------	---------
At 31 May 2022	172,531	56,467	283,575	512,573
	---------	--------	---------	---------
Depreciation
At 1 June 2021	129,357	47,469	163,935	340,761
Charge for the year	6,836	6,222	13,136	26,194
Disposals	–	( 15,883)	–	( 15,883)
	---------	--------	---------	---------
At 31 May 2022	136,193	37,808	177,071	351,072
	---------	--------	---------	---------
Carrying amount
At 31 May 2022	36,338	18,659	106,504	161,501
	---------	--------	---------	---------
At 31 May 2021	38,999	25,498	119,640	184,137
	---------	--------	---------	---------

6. Debtors

	2022	2021
	£	£
Trade debtors	33,383	29,062
Other debtors	7,649	15,641
	--------	--------
	41,032	44,703
	--------	--------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	13,091	10,266
Trade creditors	28,376	70,348
Corporation tax	5,848	9,039
Social security and other taxes	33	148
Other creditors	7,097	5,375
	--------	--------
	54,445	95,176
	--------	--------

8. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Bank loans and overdrafts	67,972	80,539
	--------	--------

Bank borrowing is secured on freehold land owned by the directors. Interest is charged at 2.5% on the outstanding balance on a daily basis. Of the bank loan, £23,701 repayable by instalments is due after more than 5 years.

9. Called up share capital

Issued, called up and fully paid

	2022		2021
	No.	£	No.	£
Ordinary shares of £ 1 each	2	2	2	2
	----	----	----	----