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REGISTERED NUMBER: 05199345 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Mid Wales Food and Land Trust Limited

Mid Wales Food and Land Trust Limited (Registered number: 05199345)

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


Mid Wales Food and Land Trust Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: J B Evans
W T Halford
Mrs J R Jones





REGISTERED OFFICE: 26 Market Street
Newtown
Powys
SY16 2PD





REGISTERED NUMBER: 05199345 (England and Wales)





ACCOUNTANTS: Morgan Griffiths LLP
Chartered Accountants
Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY

Mid Wales Food and Land Trust Limited (Registered number: 05199345)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 923,771 934,365

CURRENT ASSETS
Debtors 5 2,303 -
Cash at bank 221,668 204,043
223,971 204,043
CREDITORS
Amounts falling due within one year 6 22,630 19,892
NET CURRENT ASSETS 201,341 184,151
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,125,112

1,118,516

CREDITORS
Amounts falling due after more than one
year

7

857,049

866,757
NET ASSETS 268,063 251,759

RESERVES
Revaluation reserve 8 250,000 250,000
Income and expenditure account 18,063 1,759
268,063 251,759

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 surplus or deficit 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.

Mid Wales Food and Land Trust Limited (Registered number: 05199345)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 August 2025 and were signed on its behalf by:





J B Evans - Director


Mid Wales Food and Land Trust Limited (Registered number: 05199345)

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


1. STATUTORY INFORMATION

Mid Wales Food and Land Trust Limited is a private company, limited by guarantee , 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Over the period of the lease
Plant and machinery etc - 25% on reducing balance and 20% on cost

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.

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 2 (2023 - 3 ) .

Mid Wales Food and Land Trust Limited (Registered number: 05199345)

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


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 1,026,229 58,807 1,085,036
DEPRECIATION
At 1 January 2024 92,547 58,124 150,671
Charge for year 10,366 228 10,594
At 31 December 2024 102,913 58,352 161,265
NET BOOK VALUE
At 31 December 2024 923,316 455 923,771
At 31 December 2023 933,682 683 934,365

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Other debtors 2,303 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 2,034 -
Taxation and social security - 6
Other creditors 20,596 19,886
22,630 19,892

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Other creditors 857,049 866,757

Mid Wales Food and Land Trust Limited (Registered number: 05199345)

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


8. RESERVES
Revaluation
reserve
£   
At 1 January 2024
and 31 December 2024 250,000

Om 28th April 2014, Powys County Council granted a long lease of 99 years to the company on the transfer of the Newtown Market Hall land and building in accordance with a Community Asset Transfer scheme.

The property was gifted to the company for this period and and a non distributable revaluation reserve created to reflect the revaluation to its deemed value of £250,000.

The company has no right to sell or dispose of the building or to use it for any other purpose than that which has been designated by the funders.