Pusey Farm Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 08293476 (England and Wales)

Financial Statements

for the Year Ended 31 March 2023

for

Pusey Farm Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R C Perlhagen

REGISTERED OFFICE:

31 Hill Street

London

W1J 5LS

REGISTERED NUMBER:

08293476 (England and Wales)

ACCOUNTANTS:

Strutt & Parker

Coval Hall

Rainsford Road

Chelmsford

Essex

CM1 2QF

MANAGING AGENT:

Strutt & Parker

55 Northbrook Street

Newbury

Berkshire

RG14 1AN

FIXED ASSETS

Property, plant and equipment

4

2,635,545

2,670,282

CURRENT ASSETS

Inventories

301,993

321,678

Debtors

5

12,483

31,669

Prepayments and accrued income

27,507

2,499

Cash at bank

17,840

5,175

359,823

361,021

CREDITORS

Amounts falling due within one year

6

3,557,839

3,471,472

NET CURRENT LIABILITIES

(3,198,016

)

(3,110,451

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(562,471

)

(440,169

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(562,473

)

(440,171

)

SHAREHOLDERS' FUNDS

(562,471

)

(440,169

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 6 November 2023 and were signed by:

R C Perlhagen - Director

1.	STATUTORY INFORMATION

Pusey Farm Ltd 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

Revenue 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.

Land & Buildings - 0% and 5% on reducing balance

Plant & Machinery - 15% on reducing balance and 25% on reducing balance

Stocks

Consumables and raw materials are stated at the lower of cost and estimated selling price less costs

to complete and sell.

Biological assets comprise growing crops measured at cost. Cost includes materials, direct labour and

production overheads appropriate to the relevant stages of production.

Agricultural produce harvested from these assets are measured at the lower of cost and estimated

selling price less costs to complete and sell.

Livestock is valued at the lower of costs and net realisable value. For, animals where it is not possible to ascertain the actual cost of production, cost is 'deemed cost' which for cattle represents 60% of open market value and for sheep 75% of open market value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2022

2,667,325

141,610

2,808,935

Additions

2,656

4,040

6,696

At 31 March 2023

2,669,981

145,650

2,815,631

DEPRECIATION

At 1 April 2022

61,324

77,329

138,653

Charge for year

27,206

14,227

41,433

At 31 March 2023

88,530

91,556

180,086

NET BOOK VALUE

At 31 March 2023

2,581,451

54,094

2,635,545

At 31 March 2022

2,606,001

64,281

2,670,282

Land and buildings includes the Malte East and Malte West Cottages (£1,396,140) and Great Fields House (£665,744) developments, new Grainstore Bushy Barns (£315,574) and Grainstore renovation (£209,706). Malte East and West are service occupancies and Great Fields House an agricultural dwelling for the farm manager. VAT on Malte East and West is exempt and on Great Field and Grainstores it is reclaimable as standard rated.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

1,500

15,758

Other debtors

10,983

15,911

12,483

31,669

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

163,113

81,385

Taxation and social security

7,622

7,813

Other creditors

3,387,104

3,382,274

3,557,839

3,471,472

Other creditors includes the Directors current account balance of £3,376,154 which is made up of loans received to date of £7,789,644 less private expenditure of £4,413,490.