Company Registration No. 11423040 (England and Wales)
ASHLAND FARMING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
ASHLAND FARMING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
Detailed profit and loss account
ASHLAND FARMING LIMITED
BALANCE SHEET
AS AT
30 JUNE 2021
30 June 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,898,346
1,898,346
Current assets
Debtors
4
2,447
3,186
Cash at bank and in hand
37,049
23,354
39,496
26,540
Creditors: amounts falling due within one year
5
(2,018,846)
(1,987,228)
Net current liabilities
(1,979,350)
(1,960,688)
Net liabilities
(81,004)
(62,342)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(81,104)
(62,442)
Total equity
(81,004)
(62,342)
For the financial year ended 30 June 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 31 March 2022 and are signed on its behalf by:
Mr J F Briggs
Director
Company Registration No. 11423040
ASHLAND FARMING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
- 2 -
1
Accounting policies
Company information
Ashland Farming Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
21, The Point, Rockingham Road, Market Harborough, LE16 7NU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
0%
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
2
2
ASHLAND FARMING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
- 3 -
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 July 2020 and 30 June 2021
1,898,346
Depreciation and impairment
At 1 July 2020 and 30 June 2021
Carrying amount
At 30 June 2021
1,898,346
At 30 June 2020
1,898,346
Included in cost of land and buildings is freehold land of £1,898,346 (2020 - £1,898,346) which is not depreciated.
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
2,447
3,186
5
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
7,471
2,784
Amounts owed to associates
1,005,359
991,759
Other creditors
1,005,091
991,785
Accruals
925
900
2,018,846
1,987,228
Interest of 1% above Bank of England base rate is payable on the balance of the loans.