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REGISTERED NUMBER: 09741968 (England and Wales)












Twin Oaks Farming Limited

Unaudited Financial Statements

for the Year Ended 31 August 2024






Twin Oaks Farming Limited (Registered number: 09741968)

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










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Twin Oaks Farming Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: NR Tilt
LA Tilt





REGISTERED OFFICE: High Meadow Farm
Ashford Carbonell
Ludlow
Shropshire
SY8 4BS





REGISTERED NUMBER: 09741968 (England and Wales)





ACCOUNTANTS: The Hutchinson Partnership Limited
trading as The Hutchinson Partnership
Chartered Accountants
The Bull Pen
Grove Farm
Portway, Burghill
Hereford
HR4 8NF

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Twin Oaks Farming Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Income and Retained Earnings and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Twin Oaks Farming Limited for the year ended 31 August 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Twin Oaks Farming Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Twin Oaks Farming Limited and state those matters that we have agreed to state to the Board of Directors of Twin Oaks Farming Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Twin Oaks Farming Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Twin Oaks Farming Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Twin Oaks Farming Limited. You consider that Twin Oaks Farming Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Twin Oaks Farming Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Hutchinson Partnership Limited
trading as The Hutchinson Partnership
Chartered Accountants
The Bull Pen
Grove Farm
Portway, Burghill
Hereford
HR4 8NF


7 April 2025

Twin Oaks Farming Limited (Registered number: 09741968)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 674,999 658,896

CURRENT ASSETS
Stocks 77,200 53,995
Debtors 5 341,495 299,437
Cash at bank 411,219 433,652
829,914 787,084
CREDITORS
Amounts falling due within one year 6 157,365 197,423
NET CURRENT ASSETS 672,549 589,661
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,347,548

1,248,557

CREDITORS
Amounts falling due after more than one
year

7

(32,190

)

(231,080

)

PROVISIONS FOR LIABILITIES 9 (70,843 ) (59,543 )
NET ASSETS 1,244,515 957,934

CAPITAL AND RESERVES
Allotted, issued and fully paid share capital 1,000 1,000
Retained earnings 1,243,515 956,934
1,244,515 957,934

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

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

Twin Oaks Farming Limited (Registered number: 09741968)

Balance Sheet - continued
31 August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved for issue by the Board of Directors and authorised for issue on 7 April 2025 and were signed on its behalf by:





NR Tilt - Director


Twin Oaks Farming Limited (Registered number: 09741968)

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


1. STATUTORY INFORMATION

Twin Oaks Farming 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.

The directors have considered the financial requirements of the company and consider that it will be able to operate within its agreed finance facilities for the next 12 months. The directors therefore consider it appropriate to prepare the accounts on the going concern basis.

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.
Freehold property - not provided
Improvements to property - 4% on cost
Plant and machinery - 25% on reducing balance, 10% on reducing balance and 5% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

The company owns chickens for egg production which are biological assets. These are included in stock and are depreciated over their useful life of 14 months.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Twin Oaks Farming Limited (Registered number: 09741968)

Notes to the Financial Statements - continued
for the Year Ended 31 August 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

The average number of employees during the year was 1 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery Totals
£    £    £    £   
COST
At 1 September 2023 39,158 453,400 655,880 1,148,438
Additions - - 83,700 83,700
At 31 August 2024 39,158 453,400 739,580 1,232,138
DEPRECIATION
At 1 September 2023 - 135,713 353,829 489,542
Charge for year - 18,136 49,461 67,597
At 31 August 2024 - 153,849 403,290 557,139
NET BOOK VALUE
At 31 August 2024 39,158 299,551 336,290 674,999
At 31 August 2023 39,158 317,687 302,051 658,896

Included in cost of land and buildings is freehold land of £ 39,158 (2023 - £ 39,158 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 40,897 30,072
Amounts owed by related parties 296,202 268,400
VAT 385 965
Prepayments and accrued income 4,011 -
341,495 299,437

Twin Oaks Farming Limited (Registered number: 09741968)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 37,436 55,197
Trade creditors 17,865 46,303
Corporation tax payable 90,559 56,952
Amount owed to related parties - 23,541
Accruals and deferred income 11,505 15,430
157,365 197,423

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans due in 1 to 2 years 32,190 57,436
Bank loans due in 2 to 5 years - 98,190
Bank loans due after more than
5 years by instalments - 75,454
32,190 231,080

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after more than
5 years by instalments - 75,454
- 75,454

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 69,626 286,277

The borrowings are secured by a fixed and floating charge over the assets of the company contained in a debenture in favour of Lloyds Bank dated 14 January 2016. Also a charge dated 4 April 2017 over 1.6 acres of land at Bleathwood, Ludlow.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 70,843 59,543

Twin Oaks Farming Limited (Registered number: 09741968)

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


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 September 2023 59,543
Provided during year 11,300
Balance at 31 August 2024 70,843

10. RELATED PARTY DISCLOSURES

A partnership in which the directors are partners, owes the balance of £27,802 to the company (2023: owing £23,541) at the year end. Interest has been charged on the overdrawn balances. There is no balance included within trade creditors (2023: £1,732)

A company in which the directors are directors owes the Company a balance of £268,400 (2023: £268,400) at the year end. No interest has been charged on this amount.