IRIS Accounts Production v24.2.0.383 09444243 Board of Directors Board of Directors 1.3.23 29.2.24 29.2.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh094442432023-02-28094442432024-02-29094442432023-03-012024-02-29094442432022-02-28094442432022-03-012023-02-28094442432023-02-2809444243ns15:EnglandWales2023-03-012024-02-2909444243ns14:PoundSterling2023-03-012024-02-2909444243ns10:Director12023-03-012024-02-2909444243ns10:Director22023-03-012024-02-2909444243ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2909444243ns10:SmallEntities2023-03-012024-02-2909444243ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2909444243ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2909444243ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2909444243ns10:AbridgedAccounts2023-03-012024-02-290944424312023-03-012024-02-2909444243ns10:RegisteredOffice2023-03-012024-02-2909444243ns5:CurrentFinancialInstruments2024-02-2909444243ns5:CurrentFinancialInstruments2023-02-2809444243ns5:Non-currentFinancialInstruments2024-02-2909444243ns5:Non-currentFinancialInstruments2023-02-2809444243ns5:ShareCapital2024-02-2909444243ns5:ShareCapital2023-02-2809444243ns5:RetainedEarningsAccumulatedLosses2024-02-2909444243ns5:RetainedEarningsAccumulatedLosses2023-02-2809444243ns5:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-2909444243ns5:PlantMachinery2023-03-012024-02-2909444243ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2909444243ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2809444243ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-02-2809444243ns5:DeferredTaxation2023-02-2809444243ns5:DeferredTaxation2023-03-012024-02-2909444243ns5:DeferredTaxation2024-02-2909444243ns5:RetainedEarningsAccumulatedLosses2023-02-2809444243ns5:RetainedEarningsAccumulatedLosses2023-03-012024-02-29
REGISTERED NUMBER: 09444243 (England and Wales)














Report of the Directors and

Unaudited Financial Statements

for the Year Ended 29 February 2024

for

MESSRS DAVIES (PENLAN FARM) LTD.

MESSRS DAVIES (PENLAN FARM) LTD. (REGISTERED NUMBER: 09444243)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Report of the Directors 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


MESSRS DAVIES (PENLAN FARM) LTD.

Company Information
for the Year Ended 29 February 2024







DIRECTORS: I W Davies
E Davies





REGISTERED OFFICE: Penlan Farm
Llanwrda
Carmarthenshire
SA19 8AE





REGISTERED NUMBER: 09444243 (England and Wales)





ACCOUNTANTS: Ashmole & Co
3 Market Street
Llandeilo
CARMARTHENSHIRE
SA19 6AH

MESSRS DAVIES (PENLAN FARM) LTD. (REGISTERED NUMBER: 09444243)

Report of the Directors
for the Year Ended 29 February 2024

The directors present their report with the financial statements of the company for the year ended 29 February 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of dairy farming.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 March 2023 to the date of this report.

I W Davies
E Davies

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





I W Davies - Director


6 December 2024

MESSRS DAVIES (PENLAN FARM) LTD. (REGISTERED NUMBER: 09444243)

Abridged Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 37,230 37,230
Tangible assets 5 262,072 286,383
299,302 323,613

CURRENT ASSETS
Stocks 451,859 443,433
Debtors 77,186 93,606
Cash at bank 26,557 153,126
555,602 690,165
CREDITORS
Amounts falling due within one year 465,974 668,065
NET CURRENT ASSETS 89,628 22,100
TOTAL ASSETS LESS CURRENT
LIABILITIES

388,930

345,713

CREDITORS
Amounts falling due after more than one year (14,520 ) (21,833 )

PROVISIONS FOR LIABILITIES 7 (30,603 ) (24,929 )
NET ASSETS 343,807 298,951

CAPITAL AND RESERVES
Called up share capital 50 50
Retained earnings 8 343,757 298,901
SHAREHOLDERS' FUNDS 343,807 298,951

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

MESSRS DAVIES (PENLAN FARM) LTD. (REGISTERED NUMBER: 09444243)

Abridged Balance Sheet - continued
29 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 6 December 2024 and were signed on its behalf by:




I W Davies - Director



E Davies - Director


MESSRS DAVIES (PENLAN FARM) LTD. (REGISTERED NUMBER: 09444243)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Messrs Davies (Penlan Farm) Ltd. 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.

Sps entitlements
SPS entitlements are not amortised as the directors are of the opinion that their net worth as shown on the Balance Sheet has not diminished.

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 - 10% 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.

MESSRS DAVIES (PENLAN FARM) LTD. (REGISTERED NUMBER: 09444243)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023
and 29 February 2024 37,230
NET BOOK VALUE

At 29 February 2024 37,230
At 28 February 2023 37,230

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 557,713
Additions 7,000
Disposals (4,250 )
At 29 February 2024 560,463
DEPRECIATION
At 1 March 2023 271,330
Charge for year 29,279
Eliminated on disposal (2,218 )
At 29 February 2024 298,391
NET BOOK VALUE
At 29 February 2024 262,072
At 28 February 2023 286,383

6. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Other loans 9,000 10,740

Amounts falling due between one and two years:
Other loans - 1-2 years 14,520 21,833

MESSRS DAVIES (PENLAN FARM) LTD. (REGISTERED NUMBER: 09444243)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 30,603 24,929

Deferred
tax
£   
Balance at 1 March 2023 24,929
Provided during year 5,674
Balance at 29 February 2024 30,603

8. RESERVES
Retained
earnings
£   

At 1 March 2023 298,901
Profit for the year 44,856
At 29 February 2024 343,757