Registration number:
Tir-Gwallter Farm Limited
Unaudited Financial Statements
for the
Year Ended 31 March 2024
Tir-Gwallter Farm Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Tir-Gwallter Farm Limited
Company Information
Directors |
Mr J B Howell Mrs R A Howell |
Company secretary |
Mrs R A Howell |
Registered office |
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Bankers |
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Accountants |
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Tir-Gwallter Farm Limited
(Registration number: 00815784)
Balance Sheet
as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year 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:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Tir-Gwallter Farm Limited
(Registration number: 00815784)
Balance Sheet
as at 31 March 2024
Approved and authorised by the
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Mr J B Howell
Director
Tir-Gwallter Farm Limited
Notes to the Financial Statements
for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales within the United Kingdom.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in pounds sterling, which is the functional currency of the company, and are rounded to the nearest £1.
Going concern
The financial statements have been prepared on a going concern basis. The company has net current liabilities at the balance sheet date. The directors will only draw their loan account if there is sufficient cash to do so.
Revenue recognition
Turnover represents subsidies and grass letting income, together with the sale of crops and fodder, stated net of Value Added Tax. Revenue is recognised as follows: from subsidies when receivable, from grass letting in accordance with the period for which payment is made, and from crop and fodder sales on the date of sale.
Tax
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the UK, which is the country where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Tir-Gwallter Farm Limited
Notes to the Financial Statements
for the Year Ended 31 March 2024
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures and fittings |
15% on reducing balance |
Plant and machinery |
20% on reducing balance |
Motor vehicles |
25% on reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
Trade debtors are amounts due from for subsidies receivable stated at the amount that is expected to be received.
Stocks
Livestock is valued at the lower of cost and estimated market value, and deadstock is valued at the estimated cost of production. Stocks of heating oil and diesel fuel are valued at cost price.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers, stated at invoice value.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash received.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tir-Gwallter Farm Limited
Notes to the Financial Statements
for the Year Ended 31 March 2024
Tangible assets |
Fixtures and fittings |
Plant and machinery |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 April 2023 |
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Additions |
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Disposals |
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At 31 March 2024 |
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Depreciation |
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At 1 April 2023 |
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Charge for the year |
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Eliminated on disposal |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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Debtors |
2024 |
2023 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Accruals and deferred income |
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Other creditors |
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