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REGISTERED NUMBER: 10839527 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PTC FARMING LIMITED

PTC FARMING LIMITED (REGISTERED NUMBER: 10839527)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PTC FARMING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Judith Margaret Carlisle
Ian Peter Carlisle
Phillip Thomas Carlisle





REGISTERED OFFICE: Thornton Lodge Farm
Finghall
Leyburn
North Yorkshire
DL8 5NE





REGISTERED NUMBER: 10839527 (England and Wales)





ACCOUNTANTS: Walter Dawson & Son
Chartered Accountants
1 Valley Court
Canal Road
Bradford
West Yorkshire
BD1 4SP

PTC FARMING LIMITED (REGISTERED NUMBER: 10839527)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 95,353 93,504
Herd basis 4 156,650 128,250
252,003 221,754

CURRENT ASSETS
Stocks 46,783 61,775
Debtors 5 420,936 148,507
Cash at bank 44,300 368,278
512,019 578,560
CREDITORS
Amounts falling due within one year 6 90,906 294,517
NET CURRENT ASSETS 421,113 284,043
TOTAL ASSETS LESS CURRENT
LIABILITIES

673,116

505,797

PROVISIONS FOR LIABILITIES 19,974 14,768
NET ASSETS 653,142 491,029

CAPITAL AND RESERVES
Called up share capital 300 300
Profit and loss account 652,842 490,729
653,142 491,029

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.

PTC FARMING LIMITED (REGISTERED NUMBER: 10839527)

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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





Judith Margaret Carlisle - Director


PTC FARMING LIMITED (REGISTERED NUMBER: 10839527)

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

1. 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.
Land and buildings - 2% on cost
Plant and machinery etc - 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 Profit and Loss Account, 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.

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.

INCOME RECOGNITION
Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them.

PTC FARMING LIMITED (REGISTERED NUMBER: 10839527)

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

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

3. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 49,083 113,077 162,160
Additions - 16,640 16,640
At 31 December 2023 49,083 129,717 178,800
DEPRECIATION
At 1 January 2023 33,303 35,353 68,656
Charge for year 322 14,469 14,791
At 31 December 2023 33,625 49,822 83,447
NET BOOK VALUE
At 31 December 2023 15,458 79,895 95,353
At 31 December 2022 15,780 77,724 93,504

4. HERD BASIS
Herd
basis
£   
COST
At 1 January 2023 128,250
Additions 28,400
At 31 December 2023 156,650
NET BOOK VALUE
At 31 December 2023 156,650
At 31 December 2022 128,250

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 61,738 62,897
Amounts owed by associates 358,686 -
Other debtors 512 85,610
420,936 148,507

PTC FARMING LIMITED (REGISTERED NUMBER: 10839527)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Included within creditors are amounts secured by a fixed and floating charge over the assets of the company'