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REGISTERED NUMBER: 03467643 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

TAURUS FARMS LIMITED

TAURUS FARMS LIMITED (REGISTERED NUMBER: 03467643)






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


TAURUS FARMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: F T Hartley
D T Hartley
A M Hartley





REGISTERED OFFICE: First Floor
Unit 4
Broadfield Court
Sheffield
South Yorkshire
S8 0XF





REGISTERED NUMBER: 03467643 (England and Wales)





ACCOUNTANTS: Marriott Gibbs Rees Wallis Limited
Chartered Certified Accountants
First Floor
Unit 4, Broadfield Court
Sheffield
South Yorkshire
S8 0XF

TAURUS FARMS LIMITED (REGISTERED NUMBER: 03467643)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,991,265 6,826,388

CURRENT ASSETS
Stocks 469,407 632,795
Debtors 5 180,164 104,391
Cash at bank 406,696 479,678
1,056,267 1,216,864
CREDITORS
Amounts falling due within one year 6 1,903,621 1,414,354
NET CURRENT LIABILITIES (847,354 ) (197,490 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,143,911

6,628,898

CREDITORS
Amounts falling due after more than one
year

7

(1,132,815

)

(1,543,828

)

PROVISIONS FOR LIABILITIES (90,061 ) (100,913 )
NET ASSETS 4,921,035 4,984,157

CAPITAL AND RESERVES
Called up share capital 3,186,000 3,186,000
Retained earnings 1,735,035 1,798,157
4,921,035 4,984,157

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 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.

TAURUS FARMS LIMITED (REGISTERED NUMBER: 03467643)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 July 2024 and were signed on its behalf by:





D T Hartley - Director


TAURUS FARMS LIMITED (REGISTERED NUMBER: 03467643)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Taurus 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.

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.

Asset classDepreciation method and rate
Freehold landIs not depreciated
Freehold buildings4% on cost
Plant and machinery25% on reducing balance
Fixtures and fittings20% on reducing balance
Motor vehicles25% 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 Profit and Loss Account, 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.

TAURUS FARMS LIMITED (REGISTERED NUMBER: 03467643)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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 year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 6,728,858 1,081,645 18,230 35,144 7,863,877
Additions - 346,042 - - 346,042
Disposals - (149,450 ) - - (149,450 )
At 31 December 2023 6,728,858 1,278,237 18,230 35,144 8,060,469
DEPRECIATION
At 1 January 2023 433,590 580,898 17,876 5,125 1,037,489
Charge for year 27,766 141,918 71 8,786 178,541
Eliminated on disposal - (146,826 ) - - (146,826 )
At 31 December 2023 461,356 575,990 17,947 13,911 1,069,204
NET BOOK VALUE
At 31 December 2023 6,267,502 702,247 283 21,233 6,991,265
At 31 December 2022 6,295,268 500,747 354 30,019 6,826,388

TAURUS FARMS LIMITED (REGISTERED NUMBER: 03467643)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

The net carrying amount includes the following amounts in respect of assets held under finance leases and hire purchase contracts:

20232022
££
Plant and Machinery355,553245,925

Included in the cost of freehold property is land of £6,034,649 (2022 - £6,034,649) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 45,939 63,231
Other debtors 134,225 41,160
180,164 104,391

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 167,973 73,717
Trade creditors 15,692 8,931
Taxation and social security 1,271 12,865
Other creditors 1,718,685 1,318,841
1,903,621 1,414,354

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 132,815 37,863
Other creditors 1,000,000 1,505,965
1,132,815 1,543,828

Amounts falling due in more than five years:

Repayable by instalments
Other loans 1,000,000 1,000,000

TAURUS FARMS LIMITED (REGISTERED NUMBER: 03467643)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 1,205,965 1,505,965
Hire purchase contracts 300,788 111,580
1,506,753 1,617,545

Other loans are secured on freehold property.

Hire purchase contracts are secured on the assets acquired under those agreements.