IRIS Accounts Production v23.3.0.418 04933079 Board of Directors 1.2.22 31.1.23 31.1.23 false true false false false true false 176186 199505 88578 42906 94460 19587 182068 176186 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh049330792022-01-31049330792023-01-31049330792022-02-012023-01-31049330792021-01-31049330792021-02-012022-01-31049330792022-01-3104933079ns10:Originalns15:EnglandWales2022-02-012023-01-3104933079ns14:PoundSterlingns10:Original2022-02-012023-01-3104933079ns10:Originalns10:Director12022-02-012023-01-3104933079ns10:Original2022-02-012023-01-3104933079ns10:Original2023-01-3104933079ns10:Originalns10:PrivateLimitedCompanyLtd2022-02-012023-01-3104933079ns10:Originalns10:SmallEntities2022-02-012023-01-3104933079ns10:Originalns10:AuditExempt-NoAccountantsReport2022-02-012023-01-3104933079ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-02-012023-01-3104933079ns10:SmallCompaniesRegimeForAccountsns10:Original2022-02-012023-01-3104933079ns10:Originalns10:FullAccounts2022-02-012023-01-3104933079ns10:Original12022-02-012023-01-310493307944ns10:Originalns10:Director42022-01-310493307944ns10:Originalns10:Director42021-01-310493307944ns10:Originalns10:Director42022-02-012023-01-310493307944ns10:Originalns10:Director42021-02-012022-01-310493307944ns10:Originalns10:Director42023-01-310493307944ns10:Originalns10:Director42022-01-3104933079ns10:Originalns10:Director22022-02-012023-01-3104933079ns10:Originalns10:Director32022-02-012023-01-3104933079ns10:Originalns10:Director42022-02-012023-01-3104933079ns10:Originalns10:Director52022-02-012023-01-3104933079ns10:Originalns10:Director62022-02-012023-01-3104933079ns10:Originalns10:Director72022-02-012023-01-3104933079ns10:Director8ns10:Original2022-02-012023-01-3104933079ns10:CompanySecretary1ns10:Original2022-02-012023-01-3104933079ns10:Originalns10:RegisteredOffice2022-02-012023-01-3104933079ns10:Original2022-01-3104933079ns10:Originalns5:CurrentFinancialInstruments2023-01-3104933079ns10:Originalns5:CurrentFinancialInstruments2022-01-3104933079ns10:Originalns5:Non-currentFinancialInstruments2023-01-3104933079ns10:Originalns5:Non-currentFinancialInstruments2022-01-3104933079ns5:ShareCapitalns10:Original2023-01-3104933079ns5:ShareCapitalns10:Original2022-01-3104933079ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-01-3104933079ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-01-3104933079ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-02-012023-01-3104933079ns10:Originalns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-02-012023-01-3104933079ns10:Originalns5:PlantMachinery2022-02-012023-01-3104933079ns10:Original2021-02-012022-01-3104933079ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-01-3104933079ns5:IntangibleAssetsOtherThanGoodwillns10:Original2023-01-3104933079ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-01-3104933079ns10:Originalns5:PlantMachinery2022-01-3104933079ns10:Originalns5:PlantMachinery2023-01-3104933079ns10:Originalns5:PlantMachinery2022-01-3104933079ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-01-3104933079ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-01-3104933079ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-02-012023-01-3104933079ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-01-3104933079ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3104933079ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-01-3104933079ns10:Original1ns10:Director12022-01-3104933079ns10:Original1ns10:Director12021-01-3104933079ns10:Original1ns10:Director12022-02-012023-01-3104933079ns10:Original1ns10:Director12021-02-012022-01-3104933079ns10:Original1ns10:Director12023-01-3104933079ns10:Original1ns10:Director12022-01-31
REGISTERED NUMBER: 04933079 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Twose Farms Limited

Twose Farms Limited (Registered number: 04933079)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Twose Farms Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: J R Twose
R K Twose
J D Twose
Mrs R E Twose
Mrs J A Twose
I Twose
G Twose
Mrs E E J Twose





SECRETARY: Mrs R E Twose





REGISTERED OFFICE: Maenhir
Login
Whitland
Carmarthenshire
SA34 0XE





REGISTERED NUMBER: 04933079 (England and Wales)





ACCOUNTANTS: Ashmole & Co.
Chartered Certified Accountants
The Old School
The Quay
Carmarthen
Carmarthenshire
SA31 3LN

Twose Farms Limited (Registered number: 04933079)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 937,244 857,741
937,244 857,741

CURRENT ASSETS
Stocks 494,593 507,395
Debtors 6 210,169 130,773
Investments 7 172,210 172,210
876,972 810,378
CREDITORS
Amounts falling due within one year 8 478,478 531,454
NET CURRENT ASSETS 398,494 278,924
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,335,738

1,136,665

CREDITORS
Amounts falling due after more than one
year

9

(577,616

)

(605,045

)

PROVISIONS FOR LIABILITIES (131,109 ) (94,029 )
NET ASSETS 627,013 437,591

CAPITAL AND RESERVES
Called up share capital 100 4
Retained earnings 626,913 437,587
627,013 437,591

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

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

Twose Farms Limited (Registered number: 04933079)

Balance Sheet - continued
31 January 2023


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 26 October 2023 and were signed on its behalf by:





J R Twose - Director


Twose Farms Limited (Registered number: 04933079)

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

1. STATUTORY INFORMATION

Twose 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.

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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

SFP Entitlements are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 15% 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.

Twose Farms Limited (Registered number: 04933079)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2022
and 31 January 2023 214,702
AMORTISATION
At 1 February 2022
and 31 January 2023 214,702
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2022 1,702,770
Additions 184,929
At 31 January 2023 1,887,699
DEPRECIATION
At 1 February 2022 845,029
Charge for year 105,426
At 31 January 2023 950,455
NET BOOK VALUE
At 31 January 2023 937,244
At 31 January 2022 857,741

Twose Farms Limited (Registered number: 04933079)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 February 2022 296,087
Transfer to ownership (48,850 )
At 31 January 2023 247,237
DEPRECIATION
At 1 February 2022 64,151
Charge for year 28,914
Transfer to ownership (9,678 )
At 31 January 2023 83,387
NET BOOK VALUE
At 31 January 2023 163,850
At 31 January 2022 231,936

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 186,939 114,967
Other debtors 23,230 15,806
210,169 130,773

7. CURRENT ASSET INVESTMENTS
31.1.23 31.1.22
£    £   
First milk retention 172,210 172,210

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 132,346 210,662
Hire purchase contracts 21,893 55,599
Trade creditors 138,997 89,010
Taxation and social security 3,274 -
Other creditors 181,968 176,183
478,478 531,454

Twose Farms Limited (Registered number: 04933079)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans 556,939 563,766
Hire purchase contracts 20,677 41,279
577,616 605,045

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 485,927 449,471

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2023 and 31 January 2022:

31.1.23 31.1.22
£    £   
J R Twose and Mrs R E Twose
Balance outstanding at start of year (176,186 ) (199,505 )
Amounts advanced 88,578 42,906
Amounts repaid (94,460 ) (19,587 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (182,068 ) (176,186 )