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REGISTERED NUMBER: 03467643 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

TAURUS FARMS LIMITED

TAURUS FARMS LIMITED (REGISTERED NUMBER: 03467643)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TAURUS FARMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: D T Hartley
A M Hartley





REGISTERED OFFICE: First Floor
Unit 4
Broadfield Court
Sheffield
South Yorkshire
S8 0XF





REGISTERED NUMBER: 03467643 (England and Wales)





ACCOUNTANTS: Marriott Gibbs Rees Wallis Limited
Chartered Certified Accountants
First Floor
Unit 4, Broadfield Court
Sheffield
South Yorkshire
S8 0XF

TAURUS FARMS LIMITED (REGISTERED NUMBER: 03467643)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,238,882 6,991,265

CURRENT ASSETS
Stocks 398,817 469,407
Debtors 5 99,233 180,164
Cash at bank 173,189 406,696
671,239 1,056,267
CREDITORS
Amounts falling due within one year 6 1,609,920 1,903,621
NET CURRENT LIABILITIES (938,681 ) (847,354 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,300,201

6,143,911

CREDITORS
Amounts falling due after more than one
year

7

(1,777,589

)

(1,132,815

)

PROVISIONS FOR LIABILITIES (15,462 ) (90,061 )
NET ASSETS 4,507,150 4,921,035

CAPITAL AND RESERVES
Called up share capital 3,186,000 3,186,000
Retained earnings 1,321,150 1,735,035
4,507,150 4,921,035

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

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

TAURUS FARMS LIMITED (REGISTERED NUMBER: 03467643)

BALANCE SHEET - continued
31 DECEMBER 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 19 June 2025 and were signed on its behalf by:





D T Hartley - Director


TAURUS FARMS LIMITED (REGISTERED NUMBER: 03467643)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Taurus 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Asset classDepreciation method and rate
Freehold landIs not depreciated
Freehold buildings4% on cost
Plant and machinery25% on reducing balance
Fixtures and fittings20% on reducing balance
Motor vehicles25% on reducing balance

Stocks
Stock has been valued on a basis consistent with previous years and is in accordance with the provisions of the HMRC's Business Economic Note (BEN) 19 (1993) entitled 'Farming Stock Valuations for Income Tax Purposes'. HMRC's Help Sheet No 232 (2009) entitled 'Farm and Stock Valuation'; the Central Association of Agricultural Valuers and Royal Institution of Chartered Surveyors published Guidance Notes entitled 'Agricultural Stock Valuations for Income Tax Purposes'.

Taxation
Taxation for the year 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.


TAURUS FARMS LIMITED (REGISTERED NUMBER: 03467643)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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 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.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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 year was 3 (2023 - 3 ) .

TAURUS FARMS LIMITED (REGISTERED NUMBER: 03467643)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2024 6,728,858 1,278,237 18,230 35,144 8,060,469
Additions - 551,214 - - 551,214
At 31 December 2024 6,728,858 1,829,451 18,230 35,144 8,611,683
DEPRECIATION
At 1 January 2024 461,356 575,990 17,947 13,911 1,069,204
Charge for year 23,801 274,431 57 5,308 303,597
At 31 December 2024 485,157 850,421 18,004 19,219 1,372,801
NET BOOK VALUE
At 31 December 2024 6,243,701 979,030 226 15,925 7,238,882
At 31 December 2023 6,267,502 702,247 283 21,233 6,991,265

The net carrying amount includes the following amounts in respect of assets held under finance leases and
hire purchase contracts:
20242023
££
Plant and machinery275,042355,553

Included in the cost of freehold property is land of £6,034,649 (2023 - £6,034,649) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 35,201 45,939
Other debtors 64,032 134,225
99,233 180,164

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 66,408 167,973
Trade creditors 2,813 15,692
Taxation and social security 1,743 1,271
Other creditors 1,538,956 1,718,685
1,609,920 1,903,621

TAURUS FARMS LIMITED (REGISTERED NUMBER: 03467643)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts - 132,815
Other creditors 1,777,589 1,000,000
1,777,589 1,132,815

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans 1,000,000 1,000,000

Repayable by instalments
Other loans 682,427 -

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 1,797,264 1,205,965
Hire purchase contracts 66,408 300,788
1,863,672 1,506,753

Other loans are secured on freehold property.

Hire purchase contracts are secured on the assets acquired under those agreements.

9. RELATED PARTY DISCLOSURES

The directors provide interest free loans to the company. At the balance sheet date the amount due to the directors was £1,500,028 (2023 - £1,500,284).