Ouse Bridge Farms Limited - Accounts to registrar (filleted) - small 23.2.5
Ouse Bridge Farms Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 December 2023 |
| for |
| Ouse Bridge Farms Limited |
| Ouse Bridge Farms Limited (Registered number: 02190310) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Ouse Bridge Farms Limited |
| Company Information |
| for the Year Ended 31 December 2023 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| Chartered Accountants |
| 22-26 King Street |
| King's Lynn |
| Norfolk |
| PE30 1HJ |
| Ouse Bridge Farms Limited (Registered number: 02190310) |
| Balance Sheet |
| 31 December 2023 |
| 31.12.23 | 31.12.22 |
| Notes | £ | £ |
| Fixed assets |
| Intangible assets | 5 |
| Tangible assets | 6 |
| Investments | 7 |
| Current assets |
| Stocks |
| Debtors | 8 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 9 | ( |
) | ( |
) |
| Net current assets |
| Total assets less current liabilities |
| Provisions for liabilities | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital | 8 | 8 |
| Share premium | 10 | 24 | 24 |
| Capital redemption reserve | 10 | 100 | 100 |
| Retained earnings | 10 | 1,381,479 | 1,288,477 |
| 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. |
| Ouse Bridge Farms Limited (Registered number: 02190310) |
| Balance Sheet - continued |
| 31 December 2023 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Ouse Bridge Farms Limited (Registered number: 02190310) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2023 |
| 1. | Statutory information |
| Ouse Bridge Farms Limited is a |
| 2. | Statement of compliance |
| 3. | Accounting policies |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Plant and machinery - 25% p.a. reducing balance |
| Motor vehicles - 25% p.a. reducing balance |
| Government grants |
| Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates to. The deferred element of grants is included in creditors as deferred income. |
| Grants of revenue nature are recognised in the statement of Income and Retained Earnings in the same period as the related expenditure. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| The deemed cost of harvested crops is based on 75% of its expected sales value in accordance with BEN19. |
| Ouse Bridge Farms Limited (Registered number: 02190310) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2023 |
| 3. | Accounting policies - continued |
| Financial instruments |
| The company classifies its financial instruments in the following categories: measured at amortised cost; and measured at fair value through profit and loss. The classification is determined at initial recognition and depends on the purpose for which the financial instruments are required. |
| Measured at amortised cost includes non-derivative financial assets and liabilities with fixed or determinable payments that are not quoted in an active market. Financial assets are included in current assets, except where the maturity date is more than 12 months after the end of the reporting period. They are initially recorded at fair value and subsequently recorded at amortised cost. Financial liabilities are included in current liabilities, except where the maturity date is more than 12 months after the end of the reporting period. They are initially measured at original cost, less amortisation or provisions raised. |
| Measured at fair value through profit and loss includes financial assets and liabilities. They are classified according to maturity date, within current and non-current assets and liabilities respectively. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The Company operates a defined contribution plan for its employees. A defined contribution plan is a |
| pension plan under which the Company pays fixed contributions into a separate entity. Once the |
| contributions have been paid the Company has no further payment obligations. |
| The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid |
| are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately |
| from the Company in independently administered funds. |
| Ouse Bridge Farms Limited (Registered number: 02190310) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2023 |
| 3. | Accounting policies - continued |
| Valuation of investments |
| Investments in listed company shares are remeasured to the market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period. |
| 4. | Employees and directors |
| The average number of employees during the year was |
| 5. | Intangible fixed assets |
| Entitlements |
| £ |
| Cost |
| At 1 January 2023 |
| and 31 December 2023 |
| Amortisation |
| At 1 January 2023 |
| Amortisation for year |
| At 31 December 2023 |
| Net book value |
| At 31 December 2023 |
| At 31 December 2022 |
| 6. | Tangible fixed assets |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| Cost |
| At 1 January 2023 |
| Disposals | ( |
) | ( |
) |
| At 31 December 2023 |
| Depreciation |
| At 1 January 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2023 |
| Net book value |
| At 31 December 2023 |
| At 31 December 2022 |
| Ouse Bridge Farms Limited (Registered number: 02190310) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2023 |
| 7. | Fixed asset investments |
| Other |
| investments |
| £ |
| Cost or valuation |
| At 1 January 2023 |
| Additions |
| Disposals | ( |
) |
| Revaluations |
| At 31 December 2023 |
| Net book value |
| At 31 December 2023 |
| At 31 December 2022 |
| Cost or valuation at 31 December 2023 is represented by: |
| Other |
| investments |
| £ |
| Valuation in 2022 | 222,810 |
| Valuation in 2023 | 15,514 |
| 238,324 |
| 8. | Debtors: amounts falling due within one year |
| 31.12.23 | 31.12.22 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 9. | Creditors: amounts falling due within one year |
| 31.12.23 | 31.12.22 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Ouse Bridge Farms Limited (Registered number: 02190310) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2023 |
| 10. | Reserves |
| Capital |
| Retained | Share | redemption |
| earnings | premium | reserve | Totals |
| £ | £ | £ | £ |
| At 1 January 2023 | 1,288,477 | 24 | 100 | 1,288,601 |
| Profit for the year | 268,002 | 268,002 |
| Dividends | ( |
) | ( |
) |
| At 31 December 2023 | 1,381,479 | 24 | 100 | 1,381,603 |
| Retained earnings |
| 31.12.2023 | 31.12.2022 |
| £ | £ |
| Distributable | 1,334,905 | 1,257,416 |
| Non-distributable | 46,574 | 31,061 |
| 1,381,479 | 1,288,477 |