Company No: 07178456 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	3,362,992		2,739,484
		3,362,992		2,739,484
Current assets
Stocks	5	1,156,325		1,149,429
Debtors	6	243,648		215,881
Cash at bank and in hand		167,566		47,878
		1,567,539		1,413,188
Creditors: amounts falling due within one year	7	( 977,082)		( 951,984)
Net current assets		590,457		461,204
Total assets less current liabilities		3,953,449		3,200,688
Creditors: amounts falling due after more than one year	8	( 2,396,524)		( 1,994,208)
Provision for liabilities		( 156,538)		( 129,443)
Net assets		1,400,387		1,077,037
Capital and reserves
Called-up share capital	9	100		100
Profit and loss account		1,400,287		1,076,937
Total shareholders' funds		1,400,387		1,077,037

For the financial year ending 30 April 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Treveglos Farm Limited (registered number: 07178456) were approved and authorised for issue by the Board of Directors on 02 September 2025. They were signed on its behalf by:

Mrs S W Kellow Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Treveglos Farm Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is
Lowin House
Tregolls Road
Truro
Cornwall
TR1 2NA
United Kingdom.

The principal place of business is:
Treveglos Farm
St Mabyn
Bodmin
Cornwall
PL30 3BU

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Entitlements

5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line and reducing balance basis over its expected useful life, as follows:

Land and buildings	10 years straight line
	not depreciated
Plant and machinery	20 % reducing balance
Vehicles	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	11		11

3. Intangible assets

	Entitlements		Total
	£		£
Cost
At 01 May 2024	37,277		37,277
Disposals	( 37,277)		( 37,277)
At 30 April 2025	0		0
Accumulated amortisation
At 01 May 2024	37,277		37,277
Disposals	( 37,277)		( 37,277)
At 30 April 2025	0		0
Net book value
At 30 April 2025	0		0
At 30 April 2024	0		0

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Total
	£		£		£		£
Cost
At 01 May 2024	2,399,776		1,102,436		13,700		3,515,912
Additions	518,524		229,431		2,500		750,455
Disposals	0		( 95,750)		0		( 95,750)
At 30 April 2025	2,918,300		1,236,117		16,200		4,170,617
Accumulated depreciation
At 01 May 2024	151,384		611,588		13,456		776,428
Charge for the financial year	0		110,527		426		110,953
Disposals	0		( 79,756)		0		( 79,756)
At 30 April 2025	151,384		642,359		13,882		807,625
Net book value
At 30 April 2025	2,766,916		593,758		2,318		3,362,992
At 30 April 2024	2,248,392		490,848		244		2,739,484

Assets held under hire purchase arrangements.
Included in the net book value of tangible assets is £383,374 (2024- £324,795) in respect of assets held under finance leases and similar hire purchase contracts. Depreciation for the year on these assets was £63,145 (2024 - £43,637).
Included in the net book value of land & buildings above is £2,776,916 in respect of freehold land & buildings.

5. Stocks

	2025		2024
	£		£
Stocks	1,156,325		1,149,429

6. Debtors

	2025		2024
	£		£
Trade debtors	214,227		189,482
Prepayments	5,352		7,293
VAT recoverable	24,069		19,106
	243,648		215,881

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts	91,904		128,594
Trade creditors	132,803		110,148
Amounts owed to directors	534,528		605,906
Accruals and deferred income	18,557		3,098
Taxation and social security	94,506		21,857
Obligations under finance leases and hire purchase contracts	104,784		82,381
	977,082		951,984

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	2,231,598		1,837,557
Obligations under finance leases and hire purchase contracts	152,641		156,651
Other creditors	12,285		0
	2,396,524		1,994,208

The borrowing is secured by charges over the company's assets and guarantees by the directors.

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100