REGISTERED NUMBER: 10839527 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PTC FARMING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Judith Margaret Carlisle

Ian Peter Carlisle

Phillip Thomas Carlisle

REGISTERED OFFICE:

Thornton Lodge Farm

Finghall

Leyburn

North Yorkshire

DL8 5NE

REGISTERED NUMBER:

10839527 (England and Wales)

ACCOUNTANTS:

Walter Dawson & Son

Chartered Accountants

1 Valley Court

Canal Road

Bradford

West Yorkshire

BD1 4SP

FIXED ASSETS

Tangible assets

3

159,680

95,353

Herd basis

4

165,100

156,650

324,780

252,003

CURRENT ASSETS

Stocks

58,125

46,783

Debtors

5

471,179

420,936

Cash at bank

189,775

44,300

719,079

512,019

CREDITORS

Amounts falling due within one year

6

117,545

90,906

NET CURRENT ASSETS

601,534

421,113

TOTAL ASSETS LESS CURRENT LIABILITIES

926,314

673,116

CREDITORS

Amounts falling due after more than one year

7

(15,779

)

-

PROVISIONS FOR LIABILITIES

(36,136

)

(19,974

)

NET ASSETS

874,399

653,142

CAPITAL AND RESERVES

Called up share capital

300

300

Profit and loss account

874,099

652,842

874,399

653,142

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.

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 25 July 2025 and were signed on its behalf by:

Judith Margaret Carlisle - Director

1.	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.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

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 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.

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.

Income recognition

Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them.

2.	EMPLOYEES AND DIRECTORS

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

3.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

49,083

129,717

178,800

Additions

-

80,642

80,642

At 31 December 2024

49,083

210,359

259,442

DEPRECIATION

At 1 January 2024

33,625

49,822

83,447

Charge for year

322

15,993

16,315

At 31 December 2024

33,947

65,815

99,762

NET BOOK VALUE

At 31 December 2024

15,136

144,544

159,680

At 31 December 2023

15,458

79,895

95,353

4.	HERD BASIS

Herd

basis

£

COST

At 1 January 2024

156,650

Additions

8,450

At 31 December 2024

165,100

NET BOOK VALUE

At 31 December 2024

165,100

At 31 December 2023

156,650

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

54,984

61,738

Amounts owed by associates

414,130

358,686

Other debtors

2,065

512

471,179

420,936

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

19,628

-

Trade creditors

2,032

2,525

Taxation and social security

57,691

50,394

Other creditors

38,194

37,987

117,545

90,906

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

15,779

-

Included within creditors are amounts secured by a fixed and floating charge over the assets of the company'

8.	RELATED PARTY DISCLOSURES

During the year payments were made on behalf of a connected company totalling £230,100 (2023: £700,000). The balance outstanding of £414,130 was interest free and repayable on demand.