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REGISTERED NUMBER: 03660808 (England and Wales)























Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Lowbark Farming Company Limited

Lowbark Farming Company Limited (Registered number: 03660808)

Contents of the Financial Statements
for the Year Ended 30 November 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Lowbark Farming Company Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mr T A Butler
Mrs A Butler
Mr M G Green
Mrs N A Green





SECRETARY: Mrs A Butler





REGISTERED OFFICE: Lower Barker Farmhouse
Trotter Hill
Inglewhite
Preston
Lancashire
PR3 2LH





REGISTERED NUMBER: 03660808 (England and Wales)





ACCOUNTANTS: McDade Roberts Accountants Limited
Chartered Accountants
316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE

Lowbark Farming Company Limited (Registered number: 03660808)

Statement of Financial Position
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 919,571 887,819

CURRENT ASSETS
Stocks 20,000 16,000
Debtors 5 421,639 428,899
Cash at bank 274 271
441,913 445,170
CREDITORS
Amounts falling due within one year 6 450,150 447,360
NET CURRENT LIABILITIES (8,237 ) (2,190 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

911,334

885,629

CREDITORS
Amounts falling due after more than one
year

7

(258,032

)

(258,818

)

PROVISIONS FOR LIABILITIES (10,541 ) (4,965 )
NET ASSETS 642,761 621,846

CAPITAL AND RESERVES
Called up share capital 102 102
Share premium 237,900 237,900
Retained earnings 404,759 383,844
SHAREHOLDERS' FUNDS 642,761 621,846

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Lowbark Farming Company Limited (Registered number: 03660808)

Statement of Financial Position - continued
30 November 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





Mr T A Butler - Director


Lowbark Farming Company Limited (Registered number: 03660808)

Notes to the Financial Statements
for the Year Ended 30 November 2023


1. STATUTORY INFORMATION

Lowbark Farming Company 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.

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.
Freehold property - not provided
Plant and machinery - 25% on cost
Computer equipment - 33% on cost

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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 4 (2022 - 4 ) .

Lowbark Farming Company Limited (Registered number: 03660808)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Herd
£    £    £   
COST
At 1 December 2022 642,871 326,284 217,916
Additions 2,567 51,605 -
At 30 November 2023 645,438 377,889 217,916
DEPRECIATION
At 1 December 2022 - 308,048 -
Charge for year - 20,221 -
At 30 November 2023 - 328,269 -
NET BOOK VALUE
At 30 November 2023 645,438 49,620 217,916
At 30 November 2022 642,871 18,236 217,916

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2022 10,995 2,073 1,200,139
Additions - - 54,172
At 30 November 2023 10,995 2,073 1,254,311
DEPRECIATION
At 1 December 2022 2,199 2,073 312,320
Charge for year 2,199 - 22,420
At 30 November 2023 4,398 2,073 334,740
NET BOOK VALUE
At 30 November 2023 6,597 - 919,571
At 30 November 2022 8,796 - 887,819

Included in cost of land and buildings is freehold land of £ 642,871 (2022 - £ 623,291 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 56,335 57,212
Other debtors 365,304 371,687
421,639 428,899

Lowbark Farming Company Limited (Registered number: 03660808)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 291,171 287,024
Trade creditors 76,226 83,401
Taxation and social security 4,584 4,030
Other creditors 78,169 72,905
450,150 447,360

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 258,032 258,818

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 68,341 72,352

8. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 318,722 308,399

Amounts due to the bank are secured by way of a fixed charge over land and buildings held by the company, except for the £26,465 loan where the UK Government have provided a 100% guarantee on the Bounce Back Loan Scheme (BBLS) obtained from National Westminster Bank PLC.