Registered number
11266328
Thistledown Cowford Farms Limited
Filleted Accounts
31 March 2024
Thistledown Cowford Farms Limited
Registered number: 11266328
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,628,247 3,697,845
Current assets
Stocks 398,555 417,987
Debtors 4 9,532 11,060
Cash at bank and in hand 42,001 57,182
450,088 486,229
Creditors: amounts falling due within one year 5 (395,272) (394,651)
Net current assets 54,816 91,578
Net assets 3,683,063 3,789,423
Capital and reserves
Called up share capital 5,000,000 5,000,000
Profit and loss account (1,316,937) (1,210,577)
Shareholders' funds 3,683,063 3,789,423
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A C Anderson
Director
Approved by the board on 18 September 2024
Thistledown Cowford Farms Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery 15% straight line
Motor vehicles 25% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 3,663,138 378,029 27,035 4,068,202
At 31 March 2024 3,663,138 378,029 27,035 4,068,202
Depreciation
At 1 April 2023 64,462 278,860 27,035 370,357
Charge for the year 12,893 56,705 - 69,598
At 31 March 2024 77,355 335,565 27,035 439,955
Net book value
At 31 March 2024 3,585,783 42,464 - 3,628,247
At 31 March 2023 3,598,676 99,169 - 3,697,845
4 Debtors 2024 2023
£ £
Trade debtors 5,894 4,374
Other debtors 3,638 6,686
9,532 11,060
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 14,732 40,605
Other creditors 380,540 354,046
395,272 394,651
6 Related party transactions
A C Anderson, G B Anderson and J J Melrose are directors of Thistledown Investments Limited. During the year the following transactions took place with Thistledown Investments Limited.
2024 2023
£ £
Loan received - -
Interest payable 26,494 18,244
Included within other creditors is the following amount due to Thistledown Investments Limited
Loan payable 380,540 354,046
7 Controlling party
The company is controlled by Mr A C Anderson who owns the entire share capital.
8 Other information
Thistledown Cowford Farms Limited is a private company limited by shares and incorporated in England. Its registered office is:
Brook House
Asher Lane Business Park
Asher Lane
Pentrich
DE5 3SW
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