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REGISTERED NUMBER: 04487113 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Torfield Limited

Torfield Limited (Registered number: 04487113)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Torfield Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr S N Green





REGISTERED OFFICE: Paddocks Farm
Golford Road
Cranbrook
Kent
TN17 3NW





REGISTERED NUMBER: 04487113 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Bank Chambers
61 High Street
Cranbrook
Kent
TN17 3EG

Torfield Limited (Registered number: 04487113)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 754,962 226,946

CURRENT ASSETS
Debtors 5 4,230 2,696
Cash at bank 46,384 40,046
50,614 42,742
CREDITORS
Amounts falling due within one year 6 1,225 7,189
NET CURRENT ASSETS 49,389 35,553
TOTAL ASSETS LESS CURRENT
LIABILITIES

804,351

262,499

CREDITORS
Amounts falling due after more than
one year

7

1,159,263

606,130
NET LIABILITIES (354,912 ) (343,631 )

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings (354,913 ) (343,632 )
SHAREHOLDERS' FUNDS (354,912 ) (343,631 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Torfield Limited (Registered number: 04487113)

Balance Sheet - continued
31 December 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 director and authorised for issue on 30 July 2024 and were signed by:





Mr S N Green - Director


Torfield Limited (Registered number: 04487113)

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

1. STATUTORY INFORMATION

Torfield 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 4% on cost
Farm machinery - 25% on reducing balance and Straight line over 3 years
Solar panels - 10% on cost

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.

Torfield Limited (Registered number: 04487113)

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

2. ACCOUNTING POLICIES - continued

Going concern
The accounts have been prepared on a going concern basis as the director continues to provide his full support and the director loan balance will not be repaid for the foreseeable future. The director expects the company to be able to meet all financial obligations as they fall due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Land and Farm Solar
property buildings machinery panels Totals
£    £    £    £    £   
COST
At 1 January 2023 186,770 150,246 56,883 41,850 435,749
Additions - 532,284 5,650 - 537,934
At 31 December 2023 186,770 682,530 62,533 41,850 973,683
DEPRECIATION
At 1 January 2023 114,138 - 52,815 41,850 208,803
Charge for year 7,471 - 2,447 - 9,918
At 31 December 2023 121,609 - 55,262 41,850 218,721
NET BOOK VALUE
At 31 December 2023 65,161 682,530 7,271 - 754,962
At 31 December 2022 72,632 150,246 4,068 - 226,946

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 585 540
Other debtors 3,645 2,156
4,230 2,696

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors - 1,740
Taxation and social security - 3,647
Other creditors 1,225 1,802
1,225 7,189

Torfield Limited (Registered number: 04487113)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Other creditors 1,159,263 606,130

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 550,000 -

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 Ordinary £1 1 1

9. RELATED PARTY DISCLOSURES

At the year end, the balance outstanding on the director loan account was £1,159,263 [2022: £606,130].