Silverfin false false 31/03/2024 01/05/2023 31/03/2024 R P Uglow 03/06/2021 T P W Uglow 03/06/2021 V Uglow 03/06/2021 08 July 2024 The Principle activity of the Company during the financial period was milk production. 13437001 2024-03-31 13437001 bus:Director1 2024-03-31 13437001 bus:Director2 2024-03-31 13437001 bus:Director3 2024-03-31 13437001 2023-04-30 13437001 core:CurrentFinancialInstruments 2024-03-31 13437001 core:CurrentFinancialInstruments 2023-04-30 13437001 core:ShareCapital 2024-03-31 13437001 core:ShareCapital 2023-04-30 13437001 core:RetainedEarningsAccumulatedLosses 2024-03-31 13437001 core:RetainedEarningsAccumulatedLosses 2023-04-30 13437001 core:CostValuation 2023-04-30 13437001 core:AdditionsToInvestments 2024-03-31 13437001 core:CostValuation 2024-03-31 13437001 2023-05-01 2024-03-31 13437001 bus:FilletedAccounts 2023-05-01 2024-03-31 13437001 bus:SmallEntities 2023-05-01 2024-03-31 13437001 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-03-31 13437001 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-03-31 13437001 bus:Director1 2023-05-01 2024-03-31 13437001 bus:Director2 2023-05-01 2024-03-31 13437001 bus:Director3 2023-05-01 2024-03-31 13437001 2022-07-01 2023-04-30 iso4217:GBP xbrli:pure

Company No: 13437001 (England and Wales)

TPW UGLOW LTD

Unaudited Financial Statements
For the financial period from 01 May 2023 to 31 March 2024
Pages for filing with the registrar

TPW UGLOW LTD

Unaudited Financial Statements

For the financial period from 01 May 2023 to 31 March 2024

Contents

TPW UGLOW LTD

BALANCE SHEET

As at 31 March 2024
TPW UGLOW LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024 30.04.2023
£ £
Fixed assets
Investments 3 70,825 61,545
70,825 61,545
Current assets
Stocks 4 1,530,033 1,525,282
Debtors 5 106,933 120,165
Cash at bank and in hand 4 51,198
1,636,970 1,696,645
Creditors: amounts falling due within one year 6 ( 1,348,773) ( 1,395,865)
Net current assets 288,197 300,780
Total assets less current liabilities 359,022 362,325
Net assets 359,022 362,325
Capital and reserves
Called-up share capital 300 300
Profit and loss account 358,722 362,025
Total shareholders' funds 359,022 362,325

For the financial period ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of TPW Uglow Ltd (registered number: 13437001) were approved and authorised for issue by the Board of Directors on 08 July 2024. They were signed on its behalf by:

R P Uglow
Director
T P W Uglow
Director
V Uglow
Director
TPW UGLOW LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2023 to 31 March 2024
TPW UGLOW LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

TPW Uglow Ltd (the Company) is a private company, limited by shares, incorporated in England under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Higher Maxworthy, Maxworthy, Launceston, PL15 8LZ.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the sale of milk and cull cows, and is shown net of VAT. Turnover is recognised at the point of dispatch for the sale of milk and livestock.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stock comprising of dairy cows are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. These are shown as livestock in note 4. Livestock is calculated using the FIFO (first-in, first-out) method.

Any excess of the carrying amount of stocks over its estimated selling price less costs to sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

Period from
01.05.2023 to
31.03.2024
Period from
01.07.2022 to
30.04.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 3 3

3. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 May 2023 61,545 61,545
Additions 9,280 9,280
At 31 March 2024 70,825 70,825
Carrying value at 31 March 2024 70,825 70,825
Carrying value at 30 April 2023 61,545 61,545

4. Stocks

31.03.2024 30.04.2023
£ £
Livestock 1,530,033 1,525,282

Stocks comprise wholly of biological assets

5. Debtors

31.03.2024 30.04.2023
£ £
Trade debtors 93,408 108,251
Other debtors 13,525 11,914
106,933 120,165

6. Creditors: amounts falling due within one year

31.03.2024 30.04.2023
£ £
Bank overdrafts 39,186 0
Trade creditors 20,400 18,016
Taxation and social security 44,220 88,211
Other creditors 1,244,967 1,289,638
1,348,773 1,395,865