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REGISTERED NUMBER: 04488760 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Pengwern Farms Limited

Pengwern Farms Limited (Registered number: 04488760)






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


Pengwern Farms Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: D H Thomas
Mrs G M Thomas





SECRETARY: Mrs G M Thomas





REGISTERED OFFICE: Pengwern Isaf
Cenarth
Newcastle Emlyn
Carmarthenshire
SA38 9LD





REGISTERED NUMBER: 04488760 (England and Wales)

Pengwern Farms Limited (Registered number: 04488760)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 929,261 823,980

CURRENT ASSETS
Stocks 177,225 176,450
Debtors 5 89,956 127,789
Cash at bank 268,023 299,407
535,204 603,646
CREDITORS
Amounts falling due within one year 6 507,482 548,482
NET CURRENT ASSETS 27,722 55,164
TOTAL ASSETS LESS CURRENT
LIABILITIES

956,983

879,144

CREDITORS
Amounts falling due after more than one
year

7

(53,802

)

(71,357

)

PROVISIONS FOR LIABILITIES (142,644 ) (142,644 )
NET ASSETS 760,537 665,143

CAPITAL AND RESERVES
Called up share capital 780 780
Retained earnings 759,757 664,363
SHAREHOLDERS' FUNDS 760,537 665,143

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.

Pengwern Farms Limited (Registered number: 04488760)

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 28 March 2025 and were signed on its behalf by:





D H Thomas - Director


Pengwern Farms Limited (Registered number: 04488760)

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

1. STATUTORY INFORMATION

Pengwern 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.

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.
Plant and machinery - 15% on reducing balance
Motor vehicles - 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 2 ).

Pengwern Farms Limited (Registered number: 04488760)

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

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 78,538 1,353,321 63,476 1,286 1,496,621
Additions - 154,680 - - 154,680
Disposals - (90,000 ) - - (90,000 )
At 31 March 2024 78,538 1,418,001 63,476 1,286 1,561,301
DEPRECIATION
At 1 April 2023 - 646,629 25,001 1,011 672,641
Eliminated on disposal - (40,601 ) - - (40,601 )
At 31 March 2024 - 606,028 25,001 1,011 632,040
NET BOOK VALUE
At 31 March 2024 78,538 811,973 38,475 275 929,261
At 31 March 2023 78,538 706,692 38,475 275 823,980

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 28,500
DEPRECIATION
At 1 April 2023
and 31 March 2024 12,636
NET BOOK VALUE
At 31 March 2024 15,864
At 31 March 2023 15,864

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 89,956 105,624
Other debtors - 22,165
89,956 127,789

Pengwern Farms Limited (Registered number: 04488760)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 18,067 18,559
Hire purchase contracts 21,548 10,310
Trade creditors 116,725 218,330
Taxation and social security 71,032 6,780
Other creditors 280,110 294,503
507,482 548,482

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 53,802 71,357

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 9,174 15,450

8. 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
£    £   
D H Thomas and Mrs G M Thomas
Balance outstanding at start of year (316,399 ) (327,124 )
Amounts advanced - 70,855
Amounts repaid - (60,130 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (316,399 )

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr & Mrs Thomas.