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REGISTERED NUMBER: 06160202 (England and Wales)












SWB Farms Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






SWB Farms Limited (Registered number: 06160202)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


SWB Farms Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: S W Barriball Esq





SECRETARY: S W Barriball Esq





REGISTERED OFFICE: Unit 2 Dunheved Court
Pennygillam Way
Pennygillam Industrial Estate
Launceston
Cornwall
PL15 7ED





REGISTERED NUMBER: 06160202 (England and Wales)





ACCOUNTANTS: ATC Advisors
Chartered Accountants
Unit 2 Dunheved Court
Pennygillam Way
LAUNCESTON
Cornwall
PL15 7ED

SWB Farms Limited (Registered number: 06160202)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,097,333 1,016,964

CURRENT ASSETS
Stocks 409,764 500,526
Debtors 5 143,957 89,354
Cash at bank 306,366 208,668
860,087 798,548
CREDITORS
Amounts falling due within one year 6 127,896 192,432
NET CURRENT ASSETS 732,191 606,116
TOTAL ASSETS LESS CURRENT LIABILITIES 1,829,524 1,623,080

CREDITORS
Amounts falling due after more than one year 7 (357,084 ) (369,984 )

PROVISIONS FOR LIABILITIES (61,495 ) (40,137 )
NET ASSETS 1,410,945 1,212,959

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,409,945 1,211,959
SHAREHOLDERS' FUNDS 1,410,945 1,212,959

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 director acknowledges his 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.

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 director and authorised for issue on 11 November 2024 and were signed by:





S W Barriball Esq - Director


SWB Farms Limited (Registered number: 06160202)

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

1. STATUTORY INFORMATION

SWB 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided for on Land
Long leasehold - 4% on cost
Plant and machinery - 25% on reducing balance and 10% on cost
Motor vehicles - 25% 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

SWB Farms Limited (Registered number: 06160202)

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

4. TANGIBLE FIXED ASSETS
Freehold Long Plant and Motor
property leasehold machinery vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 784,723 126,515 642,080 16,750 1,570,068
Additions - - 157,026 - 157,026
Disposals - - (77,977 ) - (77,977 )
At 31 March 2024 784,723 126,515 721,129 16,750 1,649,117
DEPRECIATION
At 1 April 2023 5,164 49,659 484,328 13,953 553,104
Charge for year 738 4,323 58,026 699 63,786
Eliminated on disposal - - (65,106 ) - (65,106 )
At 31 March 2024 5,902 53,982 477,248 14,652 551,784
NET BOOK VALUE
At 31 March 2024 778,821 72,533 243,881 2,098 1,097,333
At 31 March 2023 779,559 76,856 157,752 2,797 1,016,964

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 59,750
DEPRECIATION
At 1 April 2023
and 31 March 2024 35,079
NET BOOK VALUE
At 31 March 2024 24,671
At 31 March 2023 24,671

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 63,040 86,156
Other debtors 80,917 3,198
143,957 89,354

SWB Farms Limited (Registered number: 06160202)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 17,731 17,401
Trade creditors 48,397 20,006
Taxation and social security 58,313 47,830
Other creditors 3,455 107,195
127,896 192,432

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 357,084 369,984

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 286,160 300,381

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 374,815 387,385

HSBC Bank PLC has a charge over all assets of the company.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
S W Barriball Esq
Balance outstanding at start of year (104,089 ) (94,528 )
Amounts advanced 153,040 49,336
Amounts repaid (45,829 ) (58,897 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,122 (104,089 )

The overdrawn directors loan account has been cleared within 9 months of the year end.