REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 May 2022 to 31 August 2023 |
for |
Thriplow Farms Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 May 2022 to 31 August 2023 |
for |
Thriplow Farms Limited |
Thriplow Farms Limited (Registered number: 00357392) |
Contents of the Financial Statements |
for the Period 1 May 2022 to 31 August 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Thriplow Farms Limited |
Company Information |
for the Period 1 May 2022 to 31 August 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Lake House |
Market Hill |
Royston |
Hertfordshire |
SG8 9JN |
Thriplow Farms Limited (Registered number: 00357392) |
Abridged Balance Sheet |
31 August 2023 |
31.8.23 | 30.4.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Revaluation reserve | 10 |
Capital redemption reserve | 10 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
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. |
Thriplow Farms Limited (Registered number: 00357392) |
Abridged Balance Sheet - continued |
31 August 2023 |
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 |
Thriplow Farms Limited (Registered number: 00357392) |
Notes to the Financial Statements |
for the Period 1 May 2022 to 31 August 2023 |
1. | STATUTORY INFORMATION |
Thriplow Farms Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Freehold property | - |
Improvements to property | - |
Plant and machinery | - |
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 period 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 period 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 period was |
Thriplow Farms Limited (Registered number: 00357392) |
Notes to the Financial Statements - continued |
for the Period 1 May 2022 to 31 August 2023 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 May 2022 |
Additions |
Disposals | ( |
) |
At 31 August 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for period |
Eliminated on disposal | ( |
) |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 30 April 2022 |
FRS 15 has been implemented and freehold land is held at a valuation existing at the date that FRS 15 was implemented plus further additions at cost. A full valuation was carried out on 30 April 1996 on the basis of existing use value, by the directors at open market value. The cost of freehold land which was revalued is £551,039 and the revaluation reserve of £946,109 relates to this land. The overall cost of freehold land stands at £5,161,797 (2022 - £5,161,797). All other fixed assets are included at cost. |
5. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST OR VALUATION |
At 1 May 2022 | 320,996 |
Additions | 84,861 |
Revaluations | 14,347 |
At 31 August 2023 | 420,204 |
NET BOOK VALUE |
At 31 August 2023 | 420,204 |
At 30 April 2022 | 320,996 |
Cost or valuation at 31 August 2023 is represented by: |
Totals |
£ |
Valuation in 2022 | 10,702 |
Valuation in 2023 | 14,347 |
Cost | 395,155 |
420,204 |
All assets are stated on a historical cost basis. |
Thriplow Farms Limited (Registered number: 00357392) |
Notes to the Financial Statements - continued |
for the Period 1 May 2022 to 31 August 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
31.8.23 | 30.4.22 |
£ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal | 1,916,830 | 2,320,030 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.8.23 | 30.4.22 |
£ | £ |
Bank loans |
Hire purchase contracts | 43,838 | - |
The security for the bank and pension scheme loans are over land owned by the company. Hire purchase borrowing is secured over the respective assets subject to finance. |
8. | PROVISIONS FOR LIABILITIES |
31.8.23 | 30.4.22 |
£ | £ |
Deferred tax | 117,678 | 86,577 |
Deferred |
tax |
£ |
Balance at 1 May 2022 |
Charge in year | 31,101 |
Balance at 31 August 2023 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.8.23 | 30.4.22 |
value: | £ | £ |
Ordinary | £0.01 | 140 | 140 |
Deferred | £1.00 | 13,999 | 13,999 |
Deferred Ordinary | £0.01 | 700 | 700 |
14,839 | 14,839 |
Non voting ordinary shares have no voting rights but otherwise rank equally with the other ordinary shares. The deferred shares of £1.00 each are entitled to one tenth of the dividend payable in respect of ordinary shares after one million pounds has been distributed by the way of a dividend in respect of the ordinary shares. The deferred shares of £1.00 each rank paripassu with ordinary shares in respect of surplus capital. |
Thriplow Farms Limited (Registered number: 00357392) |
Notes to the Financial Statements - continued |
for the Period 1 May 2022 to 31 August 2023 |
10. | RESERVES |
Capital |
Retained | Revaluation | redemption |
earnings | reserve | reserve | Totals |
£ | £ | £ | £ |
At 1 May 2022 | 4,773,013 |
Profit for the period |
At 31 August 2023 | 5,103,428 |