IRIS Accounts Production v22.1.4.3 04563496 director 1.2.21 31.1.22 31.1.22 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure045634962021-01-31045634962022-01-31045634962021-02-012022-01-31045634962020-01-31045634962020-02-012021-01-31045634962021-01-3104563496ns16:EnglandWales2021-02-012022-01-3104563496ns15:PoundSterling2021-02-012022-01-3104563496ns11:Director12021-02-012022-01-3104563496ns11:PrivateLimitedCompanyLtd2021-02-012022-01-3104563496ns11:SmallEntities2021-02-012022-01-3104563496ns11:AuditExempt-NoAccountantsReport2021-02-012022-01-3104563496ns11:SmallCompaniesRegimeForDirectorsReport2021-02-012022-01-3104563496ns11:SmallCompaniesRegimeForAccounts2021-02-012022-01-3104563496ns11:FullAccounts2021-02-012022-01-310456349612021-02-012022-01-3104563496ns11:CompanySecretary12021-02-012022-01-3104563496ns11:RegisteredOffice2021-02-012022-01-3104563496ns6:CurrentFinancialInstruments2022-01-3104563496ns6:CurrentFinancialInstruments2021-01-3104563496ns6:Non-currentFinancialInstruments2022-01-3104563496ns6:Non-currentFinancialInstruments2021-01-3104563496ns6:ShareCapital2022-01-3104563496ns6:ShareCapital2021-01-3104563496ns6:RetainedEarningsAccumulatedLosses2022-01-3104563496ns6:RetainedEarningsAccumulatedLosses2021-01-3104563496ns6:PatentsTrademarksLicencesConcessionsSimilar2021-02-012022-01-3104563496ns6:PatentsTrademarksLicencesConcessionsSimilar2021-01-3104563496ns6:DevelopmentCostsCapitalisedDevelopmentExpenditure2021-01-3104563496ns6:DevelopmentCostsCapitalisedDevelopmentExpenditure2021-02-012022-01-3104563496ns6:PatentsTrademarksLicencesConcessionsSimilar2022-01-3104563496ns6:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-01-3104563496ns6:PatentsTrademarksLicencesConcessionsSimilar2021-01-3104563496ns6:DevelopmentCostsCapitalisedDevelopmentExpenditure2021-01-3104563496ns6:LandBuildings2021-01-3104563496ns6:LeaseholdImprovements2021-01-3104563496ns6:PlantMachinery2021-01-3104563496ns6:MotorVehicles2021-01-3104563496ns6:LandBuildings2021-02-012022-01-3104563496ns6:LeaseholdImprovements2021-02-012022-01-3104563496ns6:PlantMachinery2021-02-012022-01-3104563496ns6:MotorVehicles2021-02-012022-01-3104563496ns6:LandBuildings2022-01-3104563496ns6:LeaseholdImprovements2022-01-3104563496ns6:PlantMachinery2022-01-3104563496ns6:MotorVehicles2022-01-3104563496ns6:LandBuildings2021-01-3104563496ns6:LeaseholdImprovements2021-01-3104563496ns6:PlantMachinery2021-01-3104563496ns6:MotorVehicles2021-01-3104563496ns6:WithinOneYearns6:CurrentFinancialInstruments2022-01-3104563496ns6:WithinOneYearns6:CurrentFinancialInstruments2021-01-3104563496ns6:Secured2022-01-3104563496ns6:Secured2021-01-31
REGISTERED NUMBER: 04563496 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022

FOR

THISTLETON FARMS LIMITED

THISTLETON FARMS LIMITED (REGISTERED NUMBER: 04563496)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THISTLETON FARMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2022







DIRECTOR: A J Thistleton





SECRETARY: Miss M Thistleton





REGISTERED OFFICE: Marsh Farm
French's Road
Walpole St Peter
Wisbech
Cambridgeshire
PE14 7JF





REGISTERED NUMBER: 04563496 (England and Wales)





ACCOUNTANTS: Wheelers
Chartered Accountants & Tax Consultants
27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE

THISTLETON FARMS LIMITED (REGISTERED NUMBER: 04563496)

BALANCE SHEET
31 JANUARY 2022

31.1.22 31.1.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 297 1,908
Tangible assets 5 1,544,081 1,540,837
1,544,378 1,542,745

CURRENT ASSETS
Stocks 199,222 194,783
Debtors 6 105,088 35,811
Cash at bank 22,546 15,367
326,856 245,961
CREDITORS
Amounts falling due within one year 7 229,361 229,468
NET CURRENT ASSETS 97,495 16,493
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,641,873

1,559,238

CREDITORS
Amounts falling due after more than one
year

8

(1,073,379

)

(1,075,749

)

PROVISIONS FOR LIABILITIES (45,900 ) (42,400 )
NET ASSETS 522,594 441,089

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 522,494 440,989
SHAREHOLDERS' FUNDS 522,594 441,089

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 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.

THISTLETON FARMS LIMITED (REGISTERED NUMBER: 04563496)

BALANCE SHEET - continued
31 JANUARY 2022


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 August 2022 and were signed by:





A J Thistleton - Director


THISTLETON FARMS LIMITED (REGISTERED NUMBER: 04563496)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

1. STATUTORY INFORMATION

Thistleton Farms Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The director believes that the company is well placed to manage its financial risks successfully and has reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual 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 fixed assets
The Sugar Beet Quota and Single Farm Payment Entitlements have been amortised through the profit and loss account in equal annual instalments, over 3 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery-20% on reducing balance
Motor vehicles-25% on reducing balance
Improvements to property-straight-line over 15 or 25 year life

Government grants
Government grants have been recognised based on the accrual model. As such, government grants in relation to tangible fixed assets are credited to the profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to the profit and loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


THISTLETON FARMS LIMITED (REGISTERED NUMBER: 04563496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Quotas Entitlements Totals
£    £    £   
COST
At 1 February 2021 10,808 8,893 19,701
Additions - 410 410
At 31 January 2022 10,808 9,303 20,111
AMORTISATION
At 1 February 2021 10,808 6,985 17,793
Amortisation for year - 2,021 2,021
At 31 January 2022 10,808 9,006 19,814
NET BOOK VALUE
At 31 January 2022 - 297 297
At 31 January 2021 - 1,908 1,908

THISTLETON FARMS LIMITED (REGISTERED NUMBER: 04563496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and Motor
property property machinery vehicles Totals
£    £    £    £    £   
COST
At 1 February 2021 1,175,018 202,621 359,276 167,097 1,904,012
Additions - 38,504 18,531 - 57,035
At 31 January 2022 1,175,018 241,125 377,807 167,097 1,961,047
DEPRECIATION
At 1 February 2021 - 38,900 223,350 100,925 363,175
Charge for year - 8,438 28,809 16,544 53,791
At 31 January 2022 - 47,338 252,159 117,469 416,966
NET BOOK VALUE
At 31 January 2022 1,175,018 193,787 125,648 49,628 1,544,081
At 31 January 2021 1,175,018 163,721 135,926 66,172 1,540,837

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.22 31.1.21
£    £   
Trade debtors 76,660 23,817
Other debtors 28,428 11,994
105,088 35,811

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.22 31.1.21
£    £   
Bank loans and overdrafts 52,434 49,472
Trade creditors 1,788 12,927
Taxation and social security 31,581 13,349
Other creditors 143,558 153,720
229,361 229,468

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.22 31.1.21
£    £   
Bank loans 948,379 1,000,749
Other creditors 125,000 75,000
1,073,379 1,075,749

THISTLETON FARMS LIMITED (REGISTERED NUMBER: 04563496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.1.22 31.1.21
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans due in more than
five years by installments 714,502 792,783
714,502 792,783

9. SECURED DEBTS

The following secured debts are included within creditors:

31.1.22 31.1.21
£    £   
Bank loans 1,000,813 1,050,221

The bank loan is secured by a fixed charge over the freehold land and farm building owned by the company at Gooses Lane, Walpole St Andrew.

10. RELATED PARTY DISCLOSURES

During the year, charges were raised by Farmserve, a business operated by D J Thistleton, the directors son, amounting to £13,801 (2021 - £7,030).