Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mrs L Trowbridge 25/01/2018 Mr L Trowbridge 25/01/2018 26 October 2023 The principal activity of the company is that of raising of dairy cattle. 11170369 2023-03-31 11170369 bus:Director1 2023-03-31 11170369 bus:Director2 2023-03-31 11170369 2022-03-31 11170369 core:CurrentFinancialInstruments 2023-03-31 11170369 core:CurrentFinancialInstruments 2022-03-31 11170369 core:Non-currentFinancialInstruments 2023-03-31 11170369 core:Non-currentFinancialInstruments 2022-03-31 11170369 core:ShareCapital 2023-03-31 11170369 core:ShareCapital 2022-03-31 11170369 core:RetainedEarningsAccumulatedLosses 2023-03-31 11170369 core:RetainedEarningsAccumulatedLosses 2022-03-31 11170369 core:Non-standardIntangibleAssetClass3ComponentIntangibleAssetsOtherThanGoodwill 2022-03-31 11170369 core:Non-standardIntangibleAssetClass3ComponentIntangibleAssetsOtherThanGoodwill 2023-03-31 11170369 core:LeaseholdImprovements 2022-03-31 11170369 core:PlantMachinery 2022-03-31 11170369 core:OtherPropertyPlantEquipment 2022-03-31 11170369 core:LeaseholdImprovements 2023-03-31 11170369 core:PlantMachinery 2023-03-31 11170369 core:OtherPropertyPlantEquipment 2023-03-31 11170369 core:ConsumableBiologicalAssetClass1 2022-03-31 11170369 core:ConsumableBiologicalAssetClass1 2023-03-31 11170369 bus:OrdinaryShareClass1 2023-03-31 11170369 2022-04-01 2023-03-31 11170369 bus:FullAccounts 2022-04-01 2023-03-31 11170369 bus:SmallEntities 2022-04-01 2023-03-31 11170369 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11170369 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11170369 bus:Director1 2022-04-01 2023-03-31 11170369 bus:Director2 2022-04-01 2023-03-31 11170369 core:Non-standardIntangibleAssetClass3ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2022-04-01 2023-03-31 11170369 core:LeaseholdImprovements core:TopRangeValue 2022-04-01 2023-03-31 11170369 core:PlantMachinery 2022-04-01 2023-03-31 11170369 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-04-01 2023-03-31 11170369 2021-04-01 2022-03-31 11170369 core:LeaseholdImprovements 2022-04-01 2023-03-31 11170369 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 11170369 core:ConsumableBiologicalAssetClass1 2022-04-01 2023-03-31 11170369 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 11170369 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 11170369 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11170369 (England and Wales)

L AND L TROWBRIDGE LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

L AND L TROWBRIDGE LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

L AND L TROWBRIDGE LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2023
L AND L TROWBRIDGE LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTORS Mrs L Trowbridge
Mr L Trowbridge
REGISTERED OFFICE Provost Farm Butts Lane
Stour Provost
Gillingham
SP8 5RU
United Kingdom
COMPANY NUMBER 11170369 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset TA1 2PX
L AND L TROWBRIDGE LIMITED

BALANCE SHEET

As at 31 March 2023
L AND L TROWBRIDGE LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 603,610 498,487
Biological assets 5 287,757 339,763
891,367 838,250
Current assets
Stocks 6 127,758 92,172
Debtors 7 209,355 120,518
337,113 212,690
Creditors: amounts falling due within one year 8 ( 400,955) ( 374,189)
Net current liabilities (63,842) (161,499)
Total assets less current liabilities 827,525 676,751
Creditors: amounts falling due after more than one year 9 ( 419,485) ( 502,820)
Provision for liabilities ( 103,167) ( 89,479)
Net assets 304,873 84,452
Capital and reserves
Called-up share capital 10 100 100
Profit and loss account 304,773 84,352
Total shareholders' funds 304,873 84,452

For the financial year ending 31 March 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 L and L Trowbridge Limited (registered number: 11170369) were approved and authorised for issue by the Board of Directors on 26 October 2023. They were signed on its behalf by:

Mrs L Trowbridge
Director
Mr L Trowbridge
Director
L AND L TROWBRIDGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
L AND L TROWBRIDGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

L and L Trowbridge 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 Provost Farm Butts Lane, Stour Provost, Gillingham, SP8 5RU, United Kingdom.

The financial statements have been prepared under the historical cost convention 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 £.

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:

Entitlements 3 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 at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 50 years straight line
Plant and machinery 20 % reducing balance
Other property, plant and equipment 5 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.

Biological assets

Biological assets are recognised only when the entity has control of the asset as a result of past events, it is probable that future economic benefits associated with the asset will flow to the entity; and the fair value or cost of the asset can be measured reliably.

The Company measures biological assets at cost less accumulated depreciation and accumulated impairment losses as follows:

Dairy Herd 10-20% straight line

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.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 10 6

3. Intangible assets

Entitlements Total
£ £
Cost
At 01 April 2022 18,993 18,993
At 31 March 2023 18,993 18,993
Accumulated amortisation
At 01 April 2022 18,993 18,993
At 31 March 2023 18,993 18,993
Net book value
At 31 March 2023 0 0
At 31 March 2022 0 0

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Other property, plant
and equipment
Total
£ £ £ £
Cost
At 01 April 2022 175,047 477,434 12,053 664,534
Additions 62,787 126,890 0 189,677
Disposals 0 ( 594) ( 12,053) ( 12,647)
At 31 March 2023 237,834 603,730 0 841,564
Accumulated depreciation
At 01 April 2022 8,314 145,680 12,053 166,047
Charge for the financial year 3,744 80,572 0 84,316
Disposals 0 ( 356) ( 12,053) ( 12,409)
At 31 March 2023 12,058 225,896 0 237,954
Net book value
At 31 March 2023 225,776 377,834 0 603,610
At 31 March 2022 166,733 331,754 0 498,487

5. Biological assets

2023
£
Biological assets at cost 287,757

Assets held at cost:

Dairy Total
£ £
Cost
At 01 April 2022 351,987 351,987
Increase due to purchases 40,048 40,048
Decrease attributable to sales ( 89,375) ( 89,375)
At 31 March 2023 302,660 302,660
Accumulated depreciation
At 01 April 2022 12,224 12,224
Charge for the financial year 8,334 8,334
Decrease attributable to sales ( 5,655) ( 5,655)
At 31 March 2023 14,903 14,903
Net book value
At 31 March 2023 287,757 287,757
At 31 March 2022 339,763 339,763

6. Stocks

2023 2022
£ £
Stocks 127,758 92,172

7. Debtors

2023 2022
£ £
Trade debtors 175,412 98,955
Prepayments 3,990 3,610
VAT recoverable 29,953 17,953
209,355 120,518

8. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts 159,207 173,949
Trade creditors 19,995 62,309
Amounts owed to directors 48,485 44,207
Accruals 32,489 22,679
Taxation and social security 48,754 0
Obligations under finance leases and hire purchase contracts 83,065 70,510
Other creditors 8,960 535
400,955 374,189

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

2023 2022
£ £
Bank loans 355,118 376,212
Obligations under finance leases and hire purchase contracts 64,367 126,608
419,485 502,820

Bank borrowings
The carrying amount at the year end is £336,704 (2022 - £352,371).
The bank loans are secured against specific assets held by the company.

Finance obligations
The carrying amount at the year end is £147,432 (2022 - £197,117).
The hire purchase agreements are secured against the assets to which they relate.

10. Called-up share capital

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

11. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Balance b/fwd 0 0
Advances to directors 28,758 10,043
Repayments by directors (28,758) (10,043)
Balance c/fwd 0 0