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REGISTERED NUMBER: 07393721 (England and Wales)










Timbrell Farming Limited

Financial Statements

for the Period 1st November 2023 to 31st July 2024






Timbrell Farming Limited (Registered number: 07393721)






Contents of the Financial Statements
for the Period 1st November 2023 to 31st July 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Timbrell Farming Limited (Registered number: 07393721)

Balance Sheet
31st July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 948,145 910,795
Investment property 5 212,339 192,196
1,160,484 1,102,991

CURRENT ASSETS
Stocks 76,967 128,022
Debtors 6 227,911 180,296
Cash at bank 57,745 82,223
362,623 390,541
CREDITORS
Amounts falling due within one year 7 338,926 352,856
NET CURRENT ASSETS 23,697 37,685
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,184,181

1,140,676

CREDITORS
Amounts falling due after more than one
year

8

(484,458

)

(491,955

)

PROVISIONS FOR LIABILITIES (14,373 ) -
NET ASSETS 685,350 648,721

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 685,250 648,621
SHAREHOLDERS' FUNDS 685,350 648,721

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31st July 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.

Timbrell Farming Limited (Registered number: 07393721)

Balance Sheet - continued
31st July 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23rd April 2025 and were signed on its behalf by:





H T Timbrell - Director


Timbrell Farming Limited (Registered number: 07393721)

Notes to the Financial Statements
for the Period 1st November 2023 to 31st July 2024

1. STATUTORY INFORMATION

Timbrell Farming Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07393721

Registered office: Southleaze Farm
Shorncote
Cirencester
Gloucestershire
GL7 6BZ

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 represents invoiced contract services, net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 5% on cost
Plant and machinery - 20% on reducing balance
Computer equipment - 33% on cost
Motor vehicles - 25% on reducing balance
Tractors - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Timbrell Farming Limited (Registered number: 07393721)

Notes to the Financial Statements - continued
for the Period 1st November 2023 to 31st July 2024

2. ACCOUNTING POLICIES - continued
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 period 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.

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 period was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1st November 2023 617,336 20,062 404,626
Additions 180 - 96,088
Disposals - (20,062 ) -
At 31st July 2024 617,516 - 500,714
DEPRECIATION
At 1st November 2023 - 7,022 210,867
Charge for period - - 36,330
Eliminated on disposal - (7,022 ) -
At 31st July 2024 - - 247,197
NET BOOK VALUE
At 31st July 2024 617,516 - 253,517
At 31st October 2023 617,336 13,040 193,759

Timbrell Farming Limited (Registered number: 07393721)

Notes to the Financial Statements - continued
for the Period 1st November 2023 to 31st July 2024

4. TANGIBLE FIXED ASSETS - continued

Computer Motor
equipment vehicles Tractors Totals
£    £    £    £   
COST
At 1st November 2023 2,381 11,874 120,950 1,177,229
Additions 530 - - 96,798
Disposals - - - (20,062 )
At 31st July 2024 2,911 11,874 120,950 1,253,965
DEPRECIATION
At 1st November 2023 2,381 9,054 37,110 266,434
Charge for period 117 529 9,432 46,408
Eliminated on disposal - - - (7,022 )
At 31st July 2024 2,498 9,583 46,542 305,820
NET BOOK VALUE
At 31st July 2024 413 2,291 74,408 948,145
At 31st October 2023 - 2,820 83,840 910,795

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st November 2023 192,196
Additions 20,143
At 31st July 2024 212,339
NET BOOK VALUE
At 31st July 2024 212,339
At 31st October 2023 192,196

Investment property comprises commercial properties.

Investment property was valued on an open market basis on 31st July 2024 by the directors who believe that open market value and historical cost were one and the same on that date.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 181,477 157,966
Other debtors 46,434 22,330
227,911 180,296

Timbrell Farming Limited (Registered number: 07393721)

Notes to the Financial Statements - continued
for the Period 1st November 2023 to 31st July 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,033 9,295
Trade creditors 112,027 108,714
Taxation and social security 1,120 15,030
Other creditors 215,746 219,817
338,926 352,856

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 484,458 491,955

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 436,110 444,134

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 494,491 501,250

The bank loan is secured by a legal mortgage over the freehold property. Hire purchase contracts are secured on the assets concerned.