IRIS Accounts Production v24.2.0.383 04639430 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false 102057 106036 30237 32112 18444 28133 90264 102057 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh046394302023-03-31046394302024-03-31046394302023-04-012024-03-31046394302022-03-31046394302022-04-012023-03-31046394302023-03-3104639430ns15:EnglandWales2023-04-012024-03-3104639430ns14:PoundSterling2023-04-012024-03-3104639430ns10:Director12023-04-012024-03-3104639430ns10:Director22023-04-012024-03-3104639430ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3104639430ns10:SmallEntities2023-04-012024-03-3104639430ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3104639430ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3104639430ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104639430ns10:FullAccounts2023-04-012024-03-310463943012023-04-012024-03-3104639430ns10:Director2422023-03-3104639430ns10:Director2422022-03-3104639430ns10:Director2422023-04-012024-03-3104639430ns10:Director2422022-04-012023-03-3104639430ns10:Director2422024-03-3104639430ns10:Director2422023-03-3104639430ns10:Director32023-04-012024-03-3104639430ns10:RegisteredOffice2023-04-012024-03-3104639430ns5:CurrentFinancialInstruments2024-03-3104639430ns5:CurrentFinancialInstruments2023-03-3104639430ns5:ShareCapital2024-03-3104639430ns5:ShareCapital2023-03-3104639430ns5:RetainedEarningsAccumulatedLosses2024-03-3104639430ns5:RetainedEarningsAccumulatedLosses2023-03-3104639430ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3104639430ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-04-012024-03-3104639430ns5:PlantMachinery2023-04-012024-03-3104639430ns5:IntangibleAssetsOtherThanGoodwill2023-03-3104639430ns5:IntangibleAssetsOtherThanGoodwill2024-03-3104639430ns5:IntangibleAssetsOtherThanGoodwill2023-03-3104639430ns5:PlantMachinery2023-03-3104639430ns5:PlantMachinery2024-03-3104639430ns5:PlantMachinery2023-03-3104639430ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3104639430ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-31046394301ns10:Director12023-03-31046394301ns10:Director12022-03-31046394301ns10:Director12023-04-012024-03-31046394301ns10:Director12022-04-012023-03-31046394301ns10:Director12024-03-31046394301ns10:Director12023-03-31
REGISTERED NUMBER: 04639430 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Iscoed Farms Limited

Iscoed Farms Limited (Registered number: 04639430)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Iscoed Farms Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J H R Jones
T H Jones
R H Jones





REGISTERED OFFICE: Iscoed Uchaf
Ferryside
Carmarthenshire
SA17 5TR





REGISTERED NUMBER: 04639430 (England and Wales)





ACCOUNTANTS: Ashmole & Co.
Chartered Certified Accountants
The Old School
The Quay
Carmarthen
Carmarthenshire
SA31 3LN

Iscoed Farms Limited (Registered number: 04639430)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 535,133 535,681
535,133 535,681

CURRENT ASSETS
Stocks 175,252 163,865
Debtors 6 31,627 39,224
Investments 7 50,474 50,474
Cash at bank 32,228 62,951
289,581 316,514
CREDITORS
Amounts falling due within one year 8 119,433 131,414
NET CURRENT ASSETS 170,148 185,100
TOTAL ASSETS LESS CURRENT
LIABILITIES

705,281

720,781

PROVISIONS FOR LIABILITIES 45,376 45,172
NET ASSETS 659,905 675,609

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 659,903 675,607
SHAREHOLDERS' FUNDS 659,905 675,609

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Iscoed Farms Limited (Registered number: 04639430)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2024 and were signed on its behalf by:




J H R Jones - Director



T H Jones - Director


Iscoed Farms Limited (Registered number: 04639430)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Iscoed Farms 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

SF Entitlements are being amortised evenly over their estimated useful life of nil years.

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 etc - 20% 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 Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Iscoed Farms Limited (Registered number: 04639430)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 14,080
AMORTISATION
At 1 April 2023
and 31 March 2024 14,080
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 932,530
Additions 43,489
Disposals (14,500 )
At 31 March 2024 961,519
DEPRECIATION
At 1 April 2023 396,849
Charge for year 39,287
Eliminated on disposal (9,750 )
At 31 March 2024 426,386
NET BOOK VALUE
At 31 March 2024 535,133
At 31 March 2023 535,681

Iscoed Farms Limited (Registered number: 04639430)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 29,431 33,492
Other debtors 2,196 5,732
31,627 39,224

7. CURRENT ASSET INVESTMENTS
31.3.24 31.3.23
£    £   
Listed investments 1,931 1,931
First Milk capital a/c 48,543 48,543
50,474 50,474

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts - 5,000
Trade creditors 29,169 24,357
Other creditors 90,264 102,057
119,433 131,414

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
J H R Jones and T H Jones
Balance outstanding at start of year (102,057 ) (106,036 )
Amounts advanced 30,237 32,112
Amounts repaid (18,444 ) (28,133 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (90,264 ) (102,057 )