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REGISTERED NUMBER: 05303723 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Minwear Farm Limited

Minwear Farm Limited (Registered number: 05303723)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Minwear Farm Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P James
Mrs D James





SECRETARY: Mrs D James





REGISTERED OFFICE: Minwear Farm
Martletwy
NARBERTH
Pembrokeshire
SA67 8BJ





REGISTERED NUMBER: 05303723 (England and Wales)

Minwear Farm Limited (Registered number: 05303723)

Abridged Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 257,406 346,725
Investments 5 137,480 179,809
394,886 526,534

CURRENT ASSETS
Stocks 1,000 10,000
Debtors 28,000 53,402
Cash at bank 426,286 411,831
455,286 475,233
CREDITORS
Amounts falling due within one year 109,210 120,275
NET CURRENT ASSETS 346,076 354,958
TOTAL ASSETS LESS CURRENT
LIABILITIES

740,962

881,492

PROVISIONS FOR LIABILITIES 29,760 46,686
NET ASSETS 711,202 834,806

CAPITAL AND RESERVES
Called up share capital 99 99
Retained earnings 711,103 834,707
SHAREHOLDERS' FUNDS 711,202 834,806

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.

Minwear Farm Limited (Registered number: 05303723)

Abridged 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 8 August 2024 and were signed on its behalf by:




P James - Director



Mrs D James - Director


Minwear Farm Limited (Registered number: 05303723)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Minwear 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.

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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% 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 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 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 (2022 - 2 ) .

Minwear Farm Limited (Registered number: 05303723)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 614,894
Additions 5,400
Disposals (149,718 )
At 31 December 2023 470,576
DEPRECIATION
At 1 January 2023 268,169
Charge for year 28,292
Eliminated on disposal (83,291 )
At 31 December 2023 213,170
NET BOOK VALUE
At 31 December 2023 257,406
At 31 December 2022 346,725

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
31.12.23 31.12.22
£    £   
Single Farm Payment 1,750 1,750
ARLA Capital Account 135,730 178,059
137,480 179,809