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REGISTERED NUMBER: 13036253 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Totnes Farm Limited

Totnes Farm Limited (Registered number: 13036253)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Totnes Farm Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: P J Davies





REGISTERED OFFICE: Unit 1 Glazebrook Farm
South Brent
United Kingdom
Devon
TQ10 9JE





REGISTERED NUMBER: 13036253 (England and Wales)





ACCOUNTANTS: Haines Watts
9 Western Road
Launceston
Cornwall
PL15 7AR

Totnes Farm Limited (Registered number: 13036253)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
CURRENT ASSETS
Stocks 1,963,030 794,472
Debtors 4 135 26,236
Cash at bank 9,697 5,190
1,972,862 825,898
CREDITORS
Amounts falling due within one year 5 997,555 895,567
NET CURRENT ASSETS/(LIABILITIES) 975,307 (69,669 )
TOTAL ASSETS LESS CURRENT LIABILITIES 975,307 (69,669 )

CREDITORS
Amounts falling due after more than one
year

6

1,107,186

-
NET LIABILITIES (131,879 ) (69,669 )

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings (131,881 ) (69,671 )
SHAREHOLDERS' FUNDS (131,879 ) (69,669 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Totnes Farm Limited (Registered number: 13036253)

Balance Sheet - continued
31 March 2024


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 2 August 2024 and were signed by:





P J Davies - Director


Totnes Farm Limited (Registered number: 13036253)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Totnes Farm 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.

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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 135 26,236

Totnes Farm Limited (Registered number: 13036253)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 771 20
Amounts owed to group undertakings 441,216 345,514
Taxation and social security 2,688 -
Other creditors 552,880 550,033
997,555 895,567

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors 1,107,186 -

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary 1 2 2

8. RELATED PARTY DISCLOSURES

As at 31 March the company owed the sole shareholder and director, Mr P Davies, an amount of £93,578 (31 March 23 £65,677).

There is no interest charged on this balance and there is no set date for repayment..

As the Company is a wholly owned subsidiary of PJD Construction Limited, the company has taken advantage of the exemption contained in s. 1AC.35 of FRS102, and has therefore not disclosed transactions or balances with wholly owned subsidiaries which form part of the group.

9. ULTIMATE CONTROLLING PARTY

Mr P Davies, by virtue of his shareholding and directorship, controls the company.