Firs Farm Turbine Limited

FIRS FARM TURBINE LIMITED - Company Information

2021-06-012022-05-312022-05-31false09195872Firs Farm Turbine Limited2023-02-1635110iso4217:GBPxbrli:pure091958722021-06-01091958722022-05-31091958722021-06-012022-05-31091958722020-06-01091958722021-05-31091958722020-06-012021-05-3109195872bus:SmallEntities2021-06-012022-05-3109195872bus:AuditExempt-NoAccountantsReport2021-06-012022-05-3109195872bus:FullAccounts2021-06-012022-05-3109195872bus:PrivateLimitedCompanyLtd2021-06-012022-05-3109195872core:WithinOneYear2022-05-3109195872core:AfterOneYear2022-05-3109195872core:WithinOneYear2021-05-3109195872core:AfterOneYear2021-05-3109195872core:ShareCapital2022-05-3109195872core:SharePremium2022-05-3109195872core:RevaluationReserve2022-05-3109195872core:OtherReservesSubtotal2022-05-3109195872core:RetainedEarningsAccumulatedLosses2022-05-3109195872core:ShareCapital2021-05-3109195872core:SharePremium2021-05-3109195872core:RevaluationReserve2021-05-3109195872core:OtherReservesSubtotal2021-05-3109195872core:RetainedEarningsAccumulatedLosses2021-05-3109195872core:LandBuildings2022-05-3109195872core:PlantMachinery2022-05-3109195872core:Vehicles2022-05-3109195872core:FurnitureFittings2022-05-3109195872core:OfficeEquipment2022-05-3109195872core:NetGoodwill2022-05-3109195872core:IntangibleAssetsOtherThanGoodwill2022-05-3109195872core:ListedExchangeTraded2022-05-3109195872core:UnlistedNon-exchangeTraded2022-05-3109195872core:LandBuildings2021-05-3109195872core:PlantMachinery2021-05-3109195872core:Vehicles2021-05-3109195872core:FurnitureFittings2021-05-3109195872core:OfficeEquipment2021-05-3109195872core:NetGoodwill2021-05-3109195872core:IntangibleAssetsOtherThanGoodwill2021-05-3109195872core:ListedExchangeTraded2021-05-3109195872core:UnlistedNon-exchangeTraded2021-05-3109195872core:LandBuildings2021-06-012022-05-3109195872core:PlantMachinery2021-06-012022-05-3109195872core:Vehicles2021-06-012022-05-3109195872core:FurnitureFittings2021-06-012022-05-3109195872core:OfficeEquipment2021-06-012022-05-3109195872core:NetGoodwill2021-06-012022-05-3109195872core:IntangibleAssetsOtherThanGoodwill2021-06-012022-05-3109195872core:ListedExchangeTraded2021-06-012022-05-3109195872core:UnlistedNon-exchangeTraded2021-06-012022-05-3109195872core:MoreThanFiveYears2021-06-012022-05-3109195872core:Non-currentFinancialInstruments2022-05-3109195872core:Non-currentFinancialInstruments2021-05-3109195872dpl:CostSales2021-06-012022-05-3109195872dpl:DistributionCosts2021-06-012022-05-3109195872dpl:AdministrativeExpenses2021-06-012022-05-3109195872core:LandBuildings2021-06-012022-05-3109195872core:PlantMachinery2021-06-012022-05-3109195872core:Vehicles2021-06-012022-05-3109195872core:FurnitureFittings2021-06-012022-05-3109195872core:OfficeEquipment2021-06-012022-05-3109195872core:NetGoodwill2021-06-012022-05-3109195872core:IntangibleAssetsOtherThanGoodwill2021-06-012022-05-3109195872dpl:GroupUndertakings2021-06-012022-05-3109195872dpl:ParticipatingInterests2021-06-012022-05-3109195872dpl:GroupUndertakingscore:ListedExchangeTraded2021-06-012022-05-3109195872core:ListedExchangeTraded2021-06-012022-05-3109195872dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-06-012022-05-3109195872core:UnlistedNon-exchangeTraded2021-06-012022-05-3109195872dpl:CostSales2020-06-012021-05-3109195872dpl:DistributionCosts2020-06-012021-05-3109195872dpl:AdministrativeExpenses2020-06-012021-05-3109195872core:LandBuildings2020-06-012021-05-3109195872core:PlantMachinery2020-06-012021-05-3109195872core:Vehicles2020-06-012021-05-3109195872core:FurnitureFittings2020-06-012021-05-3109195872core:OfficeEquipment2020-06-012021-05-3109195872core:NetGoodwill2020-06-012021-05-3109195872core:IntangibleAssetsOtherThanGoodwill2020-06-012021-05-3109195872dpl:GroupUndertakings2020-06-012021-05-3109195872dpl:ParticipatingInterests2020-06-012021-05-3109195872dpl:GroupUndertakingscore:ListedExchangeTraded2020-06-012021-05-3109195872core:ListedExchangeTraded2020-06-012021-05-3109195872dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2020-06-012021-05-3109195872core:UnlistedNon-exchangeTraded2020-06-012021-05-3109195872core:NetGoodwill2022-05-3109195872core:IntangibleAssetsOtherThanGoodwill2022-05-3109195872core:LandBuildings2022-05-3109195872core:PlantMachinery2022-05-3109195872core:Vehicles2022-05-3109195872core:FurnitureFittings2022-05-3109195872core:OfficeEquipment2022-05-3109195872core:AfterOneYear2022-05-3109195872core:WithinOneYear2022-05-3109195872core:ListedExchangeTraded2022-05-3109195872core:UnlistedNon-exchangeTraded2022-05-3109195872core:ShareCapital2022-05-3109195872core:SharePremium2022-05-3109195872core:RevaluationReserve2022-05-3109195872core:OtherReservesSubtotal2022-05-3109195872core:RetainedEarningsAccumulatedLosses2022-05-3109195872core:NetGoodwill2021-05-3109195872core:IntangibleAssetsOtherThanGoodwill2021-05-3109195872core:LandBuildings2021-05-3109195872core:PlantMachinery2021-05-3109195872core:Vehicles2021-05-3109195872core:FurnitureFittings2021-05-3109195872core:OfficeEquipment2021-05-3109195872core:AfterOneYear2021-05-3109195872core:WithinOneYear2021-05-3109195872core:Liste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Registered Number
09195872
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2022

Firs Farm Turbine Limited

Company Information
for the year from 1 June 2021 to 31 May 2022


Directors	Ray Fawkes
	Stephen David Milner


Registered Address	Unit 14 Follifoot Ridge Business Park Pannal Road
	Follifoot
	Harrogate
	HG3 1DP


Registered Number	09195872 (England and Wales)

Firs Farm Turbine Limited

Statement of Financial Position
31 May 2022

	Notes	2022		2021
		£	£	£	£
Fixed assets
Tangible assets	4		381,875		411,250
			381,875		411,250
Current assets
Debtors	5	15,346		9,270
Cash at bank and on hand		35,358		42,620
		50,704		51,890
Creditors amounts falling due within one year	6	(178,817)		(205,214)
Net current assets (liabilities)			(128,113)		(153,324)
Total assets less current liabilities			253,762		257,926
Creditors amounts falling due after one year	7		(153,275)		(170,775)
Provisions for liabilities	8		(61,271)		(64,375)
Net assets			39,216		22,776
Capital and reserves
Called up share capital			20		20
Profit and loss account			39,196		22,756
Shareholders' funds			39,216		22,776

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 16 February 2023, and are signed on its behalf by:

Stephen David Milner
Director
Registered Company No. 09195872

Firs Farm Turbine Limited

Notes to the Financial Statements
for the year ended 31 May 2022

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Property, plant and equipment policy

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Plant and machinery	20

	Deferred tax policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

3.	Employee information


		2022		2021
	Average number of employees during the year	2		2

4.	Property, plant and equipment

	Plant & machinery	Total
	£	£
Cost or valuation
At 01 June 21	587,500	587,500
At 31 May 22	587,500	587,500
Depreciation and impairment
At 01 June 21	176,250	176,250
Charge for year	29,375	29,375
At 31 May 22	205,625	205,625
Net book value
At 31 May 22	381,875	381,875
At 31 May 21	411,250	411,250

5.	Debtors

	2022	2021
	£	£
Prepayments and accrued income	15,346	9,270
Total	15,346	9,270


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

6.	Creditors within one year

	2022	2021
	£	£
Trade creditors / trade payables	-	2,522
Taxation and social security	8,008	15,114
Other creditors	153,275	170,775
Accrued liabilities and deferred income	17,534	16,803
Total	178,817	205,214


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

7.	Creditors after one year

	2022	2021
	£	£
Other creditors	153,275	170,775
Total	153,275	170,775

8.	Provisions for liabilities

	2022	2021
	£	£
Other provisions	61,271	64,375
Total	61,271	64,375