Firle Farms Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 00447455 (England and Wales)

FIRLE FARMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTOR:

Viscount H N Gage

REGISTERED OFFICE:

The Farm Office

Firle Place

Firle

Lewes

East Sussex

BN8 6LP

REGISTERED NUMBER:

00447455 (England and Wales)

ACCOUNTANTS:

Clark Brownscombe

Chartered Accountants

2 St Andrews Place

Lewes

East Sussex

BN7 1UP

FIXED ASSETS

Tangible assets

4

9,746

12,835

CURRENT ASSETS

Stocks

255,720

142,756

Debtors

5

401,819

404,161

Cash at bank

5

5

657,544

546,922

CREDITORS

Amounts falling due within one year

6

438,028

386,849

NET CURRENT ASSETS

219,516

160,073

TOTAL ASSETS LESS CURRENT LIABILITIES

229,262

172,908

CAPITAL AND RESERVES

Called up share capital

8

99,586

99,586

Retained earnings

129,676

73,322

SHAREHOLDERS' FUNDS

229,262

172,908

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30th June 2023 and were signed by:

Viscount H N Gage - Director

1.	STATUTORY INFORMATION

Firle Farms Limited is a private company, limited by shares , 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

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost, 25% on reducing balance and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st October 2021

200,956

Disposals

(7,793

)

At 30th September 2022

193,163

DEPRECIATION

At 1st October 2021

188,121

Charge for year

623

Eliminated on disposal

(5,327

)

At 30th September 2022

183,417

NET BOOK VALUE

At 30th September 2022

9,746

At 30th September 2021

12,835

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

205,006

218,152

Other debtors

196,813

186,009

401,819

404,161

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

213,705

214,305

Trade creditors

89,334

78,205

Taxation and social security

22,446

5,528

Other creditors

112,543

88,811

438,028

386,849

7.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank overdrafts

213,705

214,305

The overdraft is secured by a legal charge over Place Farmhouse, Firle, Lewes, East Sussex.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

65,765

Ordinary

£1

65,765

65,765

33,821

"A" Ordinary

£1

33,821

33,821

99,586

99,586

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th September 2022 and 30th September 2021:

2022

2021

£

£

Viscount H N Gage

Balance outstanding at start of year

182,933

144,891

Amounts advanced

63,449

53,030

Amounts repaid

(51,112

)

(14,988

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

195,270

182,933

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Firle Farms Limited for the year ended 30th September 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Firle Farms Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Firle Farms Limited and state those matters that we have agreed to state to the director of Firle Farms Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Firle Farms Limited and its director for our work or for this report.

It is your duty to ensure that Firle Farms Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Firle Farms Limited. You consider that Firle Farms Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Firle Farms Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Clark Brownscombe

Chartered Accountants

2 St Andrews Place

Lewes

East Sussex

BN7 1UP

30th June 2023