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Unaudited Financial Statements |
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for the Year Ended 31 May 2021 |
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for |
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From Our Farm Ltd |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 May 2021 |
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for |
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From Our Farm Ltd |
From Our Farm Ltd (Registered number: 10796146) |
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Contents of the Financial Statements |
for the Year Ended 31 May 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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From Our Farm Ltd |
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Company Information |
for the Year Ended 31 May 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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From Our Farm Ltd (Registered number: 10796146) |
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Balance Sheet |
31 May 2021 |
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31.5.21 | 31.5.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 7 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
From Our Farm Ltd (Registered number: 10796146) |
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Balance Sheet - continued |
31 May 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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From Our Farm Ltd (Registered number: 10796146) |
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Notes to the Financial Statements |
for the Year Ended 31 May 2021 |
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1. | STATUTORY INFORMATION |
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From Our Farm Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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From Our Farm Ltd (Registered number: 10796146) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2021 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 June 2020 |
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Additions |
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At 31 May 2021 |
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DEPRECIATION |
At 1 June 2020 |
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Charge for year |
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At 31 May 2021 |
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NET BOOK VALUE |
At 31 May 2021 |
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At 31 May 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.21 | 31.5.20 |
£ | £ |
Trade debtors |
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Other debtors |
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Directors' current accounts | - | 360 |
VAT |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.21 | 31.5.20 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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Other creditors |
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Directors' current accounts | 10,704 | - |
Accrued expenses |
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From Our Farm Ltd (Registered number: 10796146) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2021 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.5.21 | 31.5.20 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Covid BBL more 5 yr |
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Other creditors |
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Accruals and deferred income |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Covid BBL more 5 yr | 2,528 | - |
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8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 May 2021 and 31 May 2020: |
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31.5.21 | 31.5.20 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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9. | GOING CONCERN |
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At the balance sheet date the company's liabilities exceeded its assets by £18,090 (2020: £24,300). The company's accounts have been prepared under the going concern basis which assumes that the directors will provide adequate financial resources over future periods. |