Company registration number 12992266 (England and Wales)
FRESH MEADOW FARMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
FRESH MEADOW FARMS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
FRESH MEADOW FARMS LIMITED (REGISTERED NUMBER: 12992266)
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
Notes
£
£
Fixed assets
Tangible assets
3
1,020,244
Current assets
Stocks
570
Debtors
4
4,326
Cash at bank and in hand
871
5,767
Creditors: amounts falling due within one year
5
(1,026,088)
Net current liabilities
(1,020,321)
Net liabilities
(77)
Capital and reserves
Called up share capital
100
Profit and loss reserves
(177)
Total equity
(77)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 31 March 2022 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 period 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 13 July 2022 and are signed on its behalf by:
Dr H E Ridge
Director
FRESH MEADOW FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
- 2 -
1
Accounting policies
Company information
Fresh Meadow Farms Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Paddock Gill Farm, South Lane, Dallington, Heathfield, East Sussex, TN21 9NN.
1.1
Reporting period
The directors have extended the first period for the company to cover to the 31 March 2022 to align with the financial year. These financial statements therefore represent a period in excess of 12 months.
1.2
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 £
1
.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Turnover
Turnover
represents amounts receivable for the sale of hay and grazing.
1.4
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
Not provided and 2% straight line
Plant and equipment
20% reducing balance
Freehold land and assets in the course of construction are not depreciated.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
FRESH MEADOW FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 3 -
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2022
Number
Total
2
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Total
£
£
£
Cost
At 3 November 2020
Additions
1,016,760
4,170
1,020,930
At 31 March 2022
1,016,760
4,170
1,020,930
Depreciation and impairment
At 3 November 2020
Depreciation charged in the period
110
576
686
At 31 March 2022
110
576
686
Carrying amount
At 31 March 2022
1,016,650
3,594
1,020,244
4
Debtors
2022
Amounts falling due within one year:
£
Other debtors
4,326
FRESH MEADOW FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
- 4 -
5
Creditors: amounts falling due within one year
2022
£
Other creditors
1,026,088