T.W.Gore (Farms) Limited 00601905 false 2022-10-01 2023-09-30 2023-09-30 The principal activity of the company is Farming Digita Accounts Production Advanced 6.30.9574.0 true true 00601905 2022-10-01 2023-09-30 00601905 2023-09-30 00601905 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-09-30 00601905 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-09-30 00601905 core:CurrentFinancialInstruments 2023-09-30 00601905 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 00601905 core:Non-currentFinancialInstruments 2023-09-30 00601905 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 00601905 core:MotorVehicles 2023-09-30 00601905 core:PlantMachinery 2023-09-30 00601905 bus:SmallEntities 2022-10-01 2023-09-30 00601905 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 00601905 bus:FullAccounts 2022-10-01 2023-09-30 00601905 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 00601905 bus:RegisteredOffice 2022-10-01 2023-09-30 00601905 bus:Director2 2022-10-01 2023-09-30 00601905 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 00601905 core:LeaseholdImprovements 2022-10-01 2023-09-30 00601905 core:MotorVehicles 2022-10-01 2023-09-30 00601905 core:PlantMachinery 2022-10-01 2023-09-30 00601905 countries:EnglandWales 2022-10-01 2023-09-30 00601905 2022-09-30 00601905 core:MotorVehicles 2022-09-30 00601905 core:PlantMachinery 2022-09-30 00601905 2021-10-01 2022-09-30 00601905 2022-09-30 00601905 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-09-30 00601905 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-09-30 00601905 core:CurrentFinancialInstruments 2022-09-30 00601905 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 00601905 core:Non-currentFinancialInstruments 2022-09-30 00601905 core:Non-currentFinancialInstruments core:AfterOneYear 2022-09-30 00601905 core:MotorVehicles 2022-09-30 00601905 core:PlantMachinery 2022-09-30 iso4217:GBP xbrli:pure

Registration number: 00601905

T.W.Gore (Farms) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

T.W.Gore (Farms) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

T.W.Gore (Farms) Limited

(Registration number: 00601905)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

340,109

359,175

Investment property

5

490,000

490,000

 

830,109

849,175

Current assets

 

Stocks

6

245,720

292,391

Debtors

7

50,629

61,122

Cash at bank and in hand

 

178,862

105,203

 

475,211

458,716

Creditors: Amounts falling due within one year

8

(58,706)

(47,243)

Net current assets

 

416,505

411,473

Total assets less current liabilities

 

1,246,614

1,260,648

Creditors: Amounts falling due after more than one year

8

(15,000)

(27,570)

Provisions for liabilities

(140,380)

(145,978)

Net assets

 

1,091,234

1,087,100

Capital and reserves

 

Called up share capital

12,500

12,500

Other reserves

214,794

214,794

Retained earnings

863,940

859,806

Shareholders' funds

 

1,091,234

1,087,100

 

T.W.Gore (Farms) Limited

(Registration number: 00601905)
Balance Sheet as at 30 September 2023

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 March 2024 and signed on its behalf by:
 

.........................................
Mr TW Gore
Director

 

T.W.Gore (Farms) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
31a Charnham Street
Hungerford
Berkshire
RG17 0EJ
United Kingdom

The principal place of business is:
Radley Farm
ABC House
Hungerford
Berkshire
RG17 0NY
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

T.W.Gore (Farms) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

10-25% Reducing Balance

Motor Vehicles

25% Reducing Balance

Leasehold Improvements

2% Straight Line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

T.W.Gore (Farms) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 periods.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

 

T.W.Gore (Farms) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2022

1,017,194

15,400

1,032,594

Additions

16,550

-

16,550

At 30 September 2023

1,033,744

15,400

1,049,144

Depreciation

At 1 October 2022

659,132

14,287

673,419

Charge for the year

35,551

65

35,616

At 30 September 2023

694,683

14,352

709,035

Carrying amount

At 30 September 2023

339,061

1,048

340,109

At 30 September 2022

358,062

1,113

359,175

 

T.W.Gore (Farms) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

5

Investment properties

2023
£

At 1 October

490,000

At 30 September

490,000

.

The directors have considered the value of the investment property and do not consider the value has materially changed.

6

Stocks

2023
£

2022
£

Other inventories

245,720

292,391

7

Debtors

Current

2023
£

2022
£

Trade debtors

23,582

26,518

Prepayments

24,701

33,184

Other debtors

2,346

1,420

 

50,629

61,122

 

T.W.Gore (Farms) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Loans and borrowings

12,570

16,760

Trade creditors

31,814

11,916

Taxation and social security

8,971

13,054

Other creditors

5,351

5,513

58,706

47,243

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

15,000

27,570

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Hire purchase contracts

12,570

16,760

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

-

12,570

Redeemable preference shares

15,000

15,000

15,000

27,570

10

Related party transactions

Included in other creditors is a balance due to the director of £1 (2022 - £163)