Silverfin false 30/04/2023 01/05/2022 30/04/2023 Mrs T P Thomas 29/04/2010 Mrs R M Thomas 29/04/2010 Mr R Thomas 29/04/2010 Mr W J Thomas 29/04/2010 12 October 2023 The principal activity of the company is the growing and dealing in potatoes. 07239534 2023-04-30 07239534 bus:Director1 2023-04-30 07239534 bus:Director2 2023-04-30 07239534 bus:Director3 2023-04-30 07239534 bus:Director4 2023-04-30 07239534 2022-04-30 07239534 core:CurrentFinancialInstruments 2023-04-30 07239534 core:CurrentFinancialInstruments 2022-04-30 07239534 core:Non-currentFinancialInstruments 2023-04-30 07239534 core:Non-currentFinancialInstruments 2022-04-30 07239534 core:ShareCapital 2023-04-30 07239534 core:ShareCapital 2022-04-30 07239534 core:RetainedEarningsAccumulatedLosses 2023-04-30 07239534 core:RetainedEarningsAccumulatedLosses 2022-04-30 07239534 core:Goodwill 2022-04-30 07239534 core:Goodwill 2023-04-30 07239534 core:LandBuildings 2022-04-30 07239534 core:PlantMachinery 2022-04-30 07239534 core:LandBuildings 2023-04-30 07239534 core:PlantMachinery 2023-04-30 07239534 core:CostValuation 2022-04-30 07239534 core:CostValuation 2023-04-30 07239534 core:ProvisionsForImpairmentInvestments 2022-04-30 07239534 core:ProvisionsForImpairmentInvestments 2023-04-30 07239534 bus:OrdinaryShareClass1 2023-04-30 07239534 bus:OrdinaryShareClass2 2023-04-30 07239534 2022-05-01 2023-04-30 07239534 bus:FullAccounts 2022-05-01 2023-04-30 07239534 bus:SmallEntities 2022-05-01 2023-04-30 07239534 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 07239534 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 07239534 bus:Director1 2022-05-01 2023-04-30 07239534 bus:Director2 2022-05-01 2023-04-30 07239534 bus:Director3 2022-05-01 2023-04-30 07239534 bus:Director4 2022-05-01 2023-04-30 07239534 core:Goodwill core:TopRangeValue 2022-05-01 2023-04-30 07239534 core:LandBuildings core:TopRangeValue 2022-05-01 2023-04-30 07239534 core:PlantMachinery core:BottomRangeValue 2022-05-01 2023-04-30 07239534 core:PlantMachinery core:TopRangeValue 2022-05-01 2023-04-30 07239534 2021-05-01 2022-04-30 07239534 core:LandBuildings 2022-05-01 2023-04-30 07239534 core:PlantMachinery 2022-05-01 2023-04-30 07239534 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 07239534 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 07239534 bus:OrdinaryShareClass2 2022-05-01 2023-04-30 07239534 bus:OrdinaryShareClass2 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07239534 (England and Wales)

TREVEAR FARMS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

TREVEAR FARMS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

TREVEAR FARMS LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2023
TREVEAR FARMS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2023
DIRECTORS Mrs T P Thomas
Mrs R M Thomas
Mr R Thomas
Mr W J Thomas
SECRETARY Mrs R M Thomas
REGISTERED OFFICE Lowin House
Tregolls Road
Truro
TR1 2NA
United Kingdom
COMPANY NUMBER 07239534 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
TREVEAR FARMS LIMITED

BALANCE SHEET

As at 30 April 2023
TREVEAR FARMS LIMITED

BALANCE SHEET (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 431,696 533,813
Investments 5 100 100
431,796 533,913
Current assets
Stocks 6 162,211 133,255
Debtors 7 124,065 28,396
Cash at bank and in hand 153,102 444,669
439,378 606,320
Creditors: amounts falling due within one year 8 ( 108,311) ( 228,950)
Net current assets 331,067 377,370
Total assets less current liabilities 762,863 911,283
Creditors: amounts falling due after more than one year 9 ( 10,778) ( 16,167)
Provision for liabilities ( 100,603) ( 92,127)
Net assets 651,482 802,989
Capital and reserves
Called-up share capital 10 200 200
Profit and loss account 651,282 802,789
Total shareholders' funds 651,482 802,989

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Trevear Farms Limited (registered number: 07239534) were approved and authorised for issue by the Board of Directors on 12 October 2023. They were signed on its behalf by:

Mr R Thomas
Director
TREVEAR FARMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
TREVEAR FARMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Trevear Farms Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is:
Lowin House
Tregolls Road
Truro
TR1 2NA
United Kingdom.

The principal place of business is:
Trevear Farm
Sennen
Penzance
Cornwall
TR19 7BH

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 6 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings 15 years straight line
Plant and machinery 10 - 20 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior period.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 May 2022 162,734 162,734
At 30 April 2023 162,734 162,734
Accumulated amortisation
At 01 May 2022 162,734 162,734
At 30 April 2023 162,734 162,734
Net book value
At 30 April 2023 0 0
At 30 April 2022 0 0

4. Tangible assets

Land and buildings Plant and machinery Total
£ £ £
Cost
At 01 May 2022 233,834 1,703,227 1,937,061
At 30 April 2023 233,834 1,703,227 1,937,061
Accumulated depreciation
At 01 May 2022 168,995 1,234,253 1,403,248
Charge for the financial year 15,589 86,528 102,117
At 30 April 2023 184,584 1,320,781 1,505,365
Net book value
At 30 April 2023 49,250 382,446 431,696
At 30 April 2022 64,839 468,974 533,813

Included within the net book value of land and buildings above is £49,250 (2022 - £64,839) in respect of leasehold land and buildings.

Included within the net book value of tangible assets is £nil (2022 - £83,200) in respect of assets held under finance lease and similar hire purchase contract. Depreciation for the year on these assets was £nil (2022 - £10,400).

5. Fixed asset investments

Other investments Total
£ £
Carrying value before impairment
At 01 May 2022 100 100
At 30 April 2023 100 100
Provisions for impairment
At 01 May 2022 0 0
At 30 April 2023 0 0
Carrying value at 30 April 2023 100 100
Carrying value at 30 April 2022 100 100

6. Stocks

2023 2022
£ £
Stocks 162,211 133,255

7. Debtors

2023 2022
£ £
Trade debtors 101,146 2,136
Corporation tax 8,985 0
Other debtors 13,934 26,260
124,065 28,396

8. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 57,244 60,264
Amounts owed to directors 32,860 24,860
Accruals and deferred income 18,207 12,467
Taxation and social security 0 101,137
Obligations under finance leases and hire purchase contracts 0 30,222
108,311 228,950

9. Creditors: amounts falling due after more than one year

2023 2022
£ £
Deferred income 10,778 16,167

10. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 A Ordinary shares of £ 1.00 each 100 100
100 B Ordinary shares of £ 1.00 each 100 100
200 200