Joseph Camm Farms Limited - Accounts to registrar (filleted) - small 23.1.2
Joseph Camm Farms Limited - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2022 |
| FOR |
| JOSEPH CAMM FARMS LIMITED |
| JOSEPH CAMM FARMS LIMITED (REGISTERED NUMBER: 00718522) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| JOSEPH CAMM FARMS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 AUGUST 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 29 Arboretum Street |
| Nottingham |
| Nottinghamshire |
| NG1 4JA |
| JOSEPH CAMM FARMS LIMITED (REGISTERED NUMBER: 00718522) |
| BALANCE SHEET |
| 31 AUGUST 2022 |
| 31.8.22 | 31.8.21 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| JOSEPH CAMM FARMS LIMITED (REGISTERED NUMBER: 00718522) |
| BALANCE SHEET - continued |
| 31 AUGUST 2022 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| JOSEPH CAMM FARMS LIMITED (REGISTERED NUMBER: 00718522) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2022 |
| 1. | STATUTORY INFORMATION |
| Joseph Camm Farms Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound. |
| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
| Turnover |
| Turnover comprises the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts together with amounts receivable under the Basic Payment Scheme. |
| Intangible fixed assets |
| Intangible fixed assets are stated at cost less amortisation. Amortisation is calculated on a straight line basis over the following expected useful lives: |
| Sugar Beet quota - 5 years |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Freehold buildings - 2% or 5% on cost |
| Leasehold land and buildings - 5% on cost |
| Plant and machinery - 25% on reducing balance |
| Freehold land is not depreciated |
| Stocks and work in progress |
| Stocks and work in progress are stated at the lower of cost and net realisable value. Cost is determined on a first in first out basis, and includes all direct costs incurred and attributable production overheads. Net realisable value is based on estimated selling price allowing for all further costs of completion and disposal. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| JOSEPH CAMM FARMS LIMITED (REGISTERED NUMBER: 00718522) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme and the pension charge in the profit and loss account represents the amounts payable by the company to the fund in respect of the year. |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at the transaction price. |
| Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses |
| Fixed and current investments |
| Investments are recognised initially at cost and are subsequently measured at fair value through the profit and loss account. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Sugar |
| Beet |
| Quota |
| £ |
| COST |
| At 1 September 2021 |
| and 31 August 2022 |
| AMORTISATION |
| At 1 September 2021 |
| and 31 August 2022 |
| NET BOOK VALUE |
| At 31 August 2022 |
| At 31 August 2021 |
| JOSEPH CAMM FARMS LIMITED (REGISTERED NUMBER: 00718522) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2022 |
| 5. | TANGIBLE FIXED ASSETS |
| Land and | Plant and |
| buildings | machinery | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2021 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 August 2022 |
| DEPRECIATION |
| At 1 September 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 August 2022 |
| NET BOOK VALUE |
| At 31 August 2022 |
| At 31 August 2021 |
| Included in cost of land and buildings is freehold land of £ 819,919 (2021 - £ 819,919 ) which is not depreciated. |
| 6. | STOCKS |
| 31.8.22 | 31.8.21 |
| £ | £ |
| Growing crops |
| Crops in store |
| Sundry stocks |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.22 | 31.8.21 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.22 | 31.8.21 |
| £ | £ |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| JOSEPH CAMM FARMS LIMITED (REGISTERED NUMBER: 00718522) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2022 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.8.22 | 31.8.21 |
| value: | £ | £ |
| NIL | Ordinary | £1 | - | 38,747 |
| (31.8.21 - 38,747 ) |
| A Ordinary | £1 | 24,095 | - |
| B Ordinary | £1 | 7,326 | - |
| C Ordinary | £1 | 7,326 | - |
| 38,747 | 38,747 |
| On 16 August 2022 38,747 Ordinary shares were re-organised into 24,095 A Ordinary shares, 7,326 B Ordinary shares and 7,326 C Ordinary shares. |
| 10. | CAPITAL COMMITMENTS |
| 31.8.22 | 31.8.21 |
| £ | £ |
| Contracted but not provided for in the |
| financial statements |