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REGISTERED NUMBER: 04544884 (England and Wales)














Financial Statements

for the Year Ended 31 March 2023

for

Lower Tancredston Farm Limited

Lower Tancredston Farm Limited (Registered number: 04544884)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Lower Tancredston Farm Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr W R Wade
Mrs A Wade





SECRETARY: Mr W R Wade





REGISTERED OFFICE: c/o Ashmole & Co
7 Goat Street
Haverfordwest
Pembrokeshire
SA61 1PX





REGISTERED NUMBER: 04544884 (England and Wales)

Lower Tancredston Farm Limited (Registered number: 04544884)

Abridged Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 444,713 461,561

CURRENT ASSETS
Stocks 302,978 301,431
Debtors 74,287 57,073
Investments 37,361 37,184
Cash at bank 2,265 4,075
416,891 399,763
CREDITORS
Amounts falling due within one year 257,705 257,456
NET CURRENT ASSETS 159,186 142,307
TOTAL ASSETS LESS CURRENT
LIABILITIES

603,899

603,868

CREDITORS
Amounts falling due after more than one
year

5

(528,675

)

(565,936

)

PROVISIONS FOR LIABILITIES (28,713 ) (29,604 )
NET ASSETS 46,511 8,328

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 46,411 8,228
46,511 8,328

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.

Lower Tancredston Farm Limited (Registered number: 04544884)

Abridged Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 Board of Directors and authorised for issue on 20 September 2023 and were signed on its behalf by:




Mr W R Wade - Director



Mrs A Wade - Director


Lower Tancredston Farm Limited (Registered number: 04544884)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Lower Tancredston 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.

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 - 15% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stock and biological assets are included at the lower of cost and estimated selling price less costs to sell.

Investments
Investments are measured at cost less impairment.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 3 ) .

Lower Tancredston Farm Limited (Registered number: 04544884)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 1,038,254
Additions 57,005
Disposals (15,245 )
At 31 March 2023 1,080,014
DEPRECIATION
At 1 April 2022 576,693
Charge for year 62,419
Eliminated on disposal (3,811 )
At 31 March 2023 635,301
NET BOOK VALUE
At 31 March 2023 444,713
At 31 March 2022 461,561

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31.3.23 31.3.22
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 396,646 426,579

6. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank overdrafts 73,245 97,763
Bank loans 533,386 560,734
606,631 658,497