REGISTERED NUMBER: 05710725 (England and Wales)

TYGWYN FARM LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D S L Jones

Mrs A M Jones

Mr O W Jones

Mr S L Jones

SECRETARY:

Mr D S L Jones

REGISTERED OFFICE:

Broyan House

Priory Street

Cardigan

Ceredigion

SA43 1BZ

REGISTERED NUMBER:

05710725 (England and Wales)

ACCOUNTANTS:

D M B Davies Limited

Broyan House

Priory Street

Cardigan

Ceredigion

SA43 1BZ

BANKERS:

Lloyds Bank plc

14 High Street

Cardigan

Ceredigion

SA43 1JW

FIXED ASSETS

Intangible assets

4

141

282

Tangible assets

5

425,899

413,912

426,040

414,194

CURRENT ASSETS

Stocks

351,119

366,405

Debtors

6

49,249

39,653

Investments

7

89,599

84,111

Cash at bank

457,414

272,144

947,381

762,313

CREDITORS

Amounts falling due within one year

8

188,863

200,282

NET CURRENT ASSETS

758,518

562,031

TOTAL ASSETS LESS CURRENT LIABILITIES

1,184,558

976,225

PROVISIONS FOR LIABILITIES

34,390

29,970

NET ASSETS

1,150,168

946,255

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

1,149,168

945,255

SHAREHOLDERS' FUNDS

1,150,168

946,255

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 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.

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 Board of Directors and authorised for issue on 29 August 2023 and were signed on its behalf by:

Mrs A M Jones - Director

1.	STATUTORY INFORMATION

Tygwyn Farm 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.

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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Single farm payment entitlement

The cost of the single farm payment entitlement purchased is being amortized over its expected useful life of 5 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 etc

-

25% on reducing balance and 20% on reducing balance

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 Income Statement, 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2022

and 31 March 2023

11,878

AMORTISATION

At 1 April 2022

11,596

Charge for year

141

At 31 March 2023

11,737

NET BOOK VALUE

At 31 March 2023

141

At 31 March 2022

282

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

Motor

property

property

machinery

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2022

143,796

98,071

553,633

61,758

857,258

Additions

-

3,031

26,042

42,995

72,068

Disposals

-

-

(1,000

)

(33,333

)

(34,333

)

At 31 March 2023

143,796

101,102

578,675

71,420

894,993

DEPRECIATION

At 1 April 2022

-

-

401,683

41,663

443,346

Charge for year

-

-

35,398

13,136

48,534

Eliminated on disposal

-

-

-

(22,786

)

(22,786

)

At 31 March 2023

-

-

437,081

32,013

469,094

NET BOOK VALUE

At 31 March 2023

143,796

101,102

141,594

39,407

425,899

At 31 March 2022

143,796

98,071

151,950

20,095

413,912

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

49,249

35,062

Other debtors

-

4,591

49,249

39,653

7.	CURRENT ASSET INVESTMENTS

2023

2022

£

£

Listed investments

299

299

Arla Foods investment

78,439

73,626

CCF Share account

10,861

10,186

89,599

84,111

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

48,899

93,316

Taxation and social security

52,644

15,387

Other creditors

87,320

91,579

188,863

200,282

9.	RELATED PARTY DISCLOSURES

10.	ULTIMATE CONTROLLING PARTY