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REGISTERED NUMBER: 01199318 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

THAMES VALLEY CAMBAC LIMITED

THAMES VALLEY CAMBAC LIMITED (REGISTERED NUMBER: 01199318)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THAMES VALLEY CAMBAC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: G W Allen
R Beckett
R W Lister
I R Mcfarlane
Mrs S A Stockings
R U Thompson
C R Down





SECRETARY: G W Allen





REGISTERED OFFICE: First Floor Pipe House
Lupton Road
Wallingford
Oxfordshire
OX10 9BS





REGISTERED NUMBER: 01199318 (England and Wales)

THAMES VALLEY CAMBAC LIMITED (REGISTERED NUMBER: 01199318)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 122,808 98,607
122,808 98,607

CURRENT ASSETS
Debtors 6 21,495,627 20,829,375
Cash at bank and in hand 609 3,796
21,496,236 20,833,171
CREDITORS
Amounts falling due within one year 7 14,981,783 14,740,615
NET CURRENT ASSETS 6,514,453 6,092,556
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,637,261

6,191,163

CAPITAL AND RESERVES
Called up share capital 10 108 108
Retained earnings 6,637,153 6,191,055
SHAREHOLDERS' FUNDS 6,637,261 6,191,163

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 Board of Directors and authorised for issue on 27 March 2024 and were signed on its behalf by:





R Beckett - Director


THAMES VALLEY CAMBAC LIMITED (REGISTERED NUMBER: 01199318)

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

1. STATUTORY INFORMATION

Thames Valley Cambac Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 01199318 and the registered office is First Floor Pipe House, Lupton Road, Wallingford, Oxfordshire, OX10 9BS.

The principal activity of the company is that of a farmer controlled business, marketing livestock produced by its members and non-members.

The financial statements are presented in Pound Sterling (£), which is also the functional currency of the company.

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.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities at the balance sheet date and the amounts reported for turnover and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates such as for accruals of expenses at the year end.

The Company records a provision for the expected level of member rebates to be paid in connection with the trading activities of the Company for the year. The rebate provision is included within accruals.

Turnover
Turnover represents commissions and levies charged net of member rebates, based on livestock movements, excluding value added tax.

Intangible assets
Goodwill represents the amount paid less the net assets acquired, in connection with the acquisition of two separate businesses in 2010 and 2008.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill - 10 years

THAMES VALLEY CAMBAC LIMITED (REGISTERED NUMBER: 01199318)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:

Motor vehicles - 25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

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.

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.

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.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.

THAMES VALLEY CAMBAC LIMITED (REGISTERED NUMBER: 01199318)

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

2. ACCOUNTING POLICIES - continued

Going concern
The Directors have considered the impact on the Company's projections and after taking into account reasonably possible changes in forecasts have concluded that the Company has adequate resources to continue in operational existence for the foreseeable future. The Directors therefore continue to adopt the going concern basis in preparing the financial statements.

In reaching this conclusion the Directors have considered the following factors:

- The business does not hold stock as it only facilitates the sale and purchase of pigs between producers and processors, therefore it is protected somewhat from fluctuations in price;
- The business has credit insurance against defaults from customers; and
- The business has additional banking facilities in place that are not forecasted to be required however could be used if needed.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 833,702
AMORTISATION
At 1 January 2023
and 31 December 2023 833,702
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

THAMES VALLEY CAMBAC LIMITED (REGISTERED NUMBER: 01199318)

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

5. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 January 2023 250,480
Additions 105,764
Disposals (97,230 )
At 31 December 2023 259,014
DEPRECIATION
At 1 January 2023 151,873
Charge for year 61,749
Eliminated on disposal (77,416 )
At 31 December 2023 136,206
NET BOOK VALUE
At 31 December 2023 122,808
At 31 December 2022 98,607

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 21,338,602 20,727,076
Other debtors 157,025 102,299
21,495,627 20,829,375

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 595,070 -
Trade creditors 13,516,149 13,465,866
Taxation and social security 162,920 165,970
Other creditors 707,644 1,108,779
14,981,783 14,740,615

THAMES VALLEY CAMBAC LIMITED (REGISTERED NUMBER: 01199318)

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

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 32,557 32,557
Between one and five years 40,114 72,671
In more than five years - 1,889
72,671 107,117

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank overdraft 595,070 -

The bank overdrafts are secured by a fixed and floating charge over the company's assets.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
108 Ordinary £1 108 108

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Lee Gardner FCA (Senior Statutory Auditor)
for and on behalf of Vale & West Accountancy Services Limited

12. CONTROLLING PARTY

Each member holds one share each in the business and as such, the Directors believe there to be no ultimate controlling party.

13. SUBSEQUENT EVENTS

The effect of subsequent events on the company, and the consequences for the financial statements have been considered up to the date of signing, and is explained in note 2. No adjustments are considered necessary in respect of this matter.