REGISTERED NUMBER: 07886651 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Parcyrabbot Farm Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R M Phillips

REGISTERED OFFICE:

Parcyrabbot

St. Clears

Carmarthenshire

SA33 4NB

REGISTERED NUMBER:

07886651 (England and Wales)

FIXED ASSETS

Intangible assets

4

1,831

1,831

Tangible assets

5

2,235,668

2,117,681

Investment property

6

167,207

167,207

2,404,706

2,286,719

CURRENT ASSETS

Stocks

806,500

1,042,325

Debtors

7

223,160

435,970

Cash at bank

530,257

-

1,559,917

1,478,295

CREDITORS

Amounts falling due within one year

8

603,139

765,878

NET CURRENT ASSETS

956,778

712,417

TOTAL ASSETS LESS CURRENT LIABILITIES

3,361,484

2,999,136

CREDITORS

Amounts falling due after more than one year

9

(892,131

)

(853,594

)

PROVISIONS FOR LIABILITIES

(138,582

)

(75,512

)

NET ASSETS

2,330,771

2,070,030

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,330,671

2,069,930

2,330,771

2,070,030

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 director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 September 2025 and were signed by:

R M Phillips - Director

1.	STATUTORY INFORMATION

Parcyrabbot Farm 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.

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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Milk quota are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 20 (2023 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

1,831

NET BOOK VALUE

At 31 December 2024

1,831

At 31 December 2023

1,831

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

851,322

1,808,443

2,659,765

Additions

-

341,788

341,788

Disposals

-

(160,500

)

(160,500

)

At 31 December 2024

851,322

1,989,731

2,841,053

DEPRECIATION

At 1 January 2024

-

542,084

542,084

Charge for year

-

82,025

82,025

Eliminated on disposal

-

(18,724

)

(18,724

)

At 31 December 2024

-

605,385

605,385

NET BOOK VALUE

At 31 December 2024

851,322

1,384,346

2,235,668

At 31 December 2023

851,322

1,266,359

2,117,681

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

112,500

Additions

231,000

Disposals

(112,500

)

At 31 December 2024

231,000

DEPRECIATION

At 1 January 2024

11,524

Charge for year

12,538

Eliminated on disposal

(11,524

)

At 31 December 2024

12,538

NET BOOK VALUE

At 31 December 2024

218,462

At 31 December 2023

100,976

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

167,207

NET BOOK VALUE

At 31 December 2024

167,207

At 31 December 2023

167,207

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

144,029

296,600

Other debtors

79,131

139,370

223,160

435,970

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

25,717

166,638

Hire purchase contracts

92,794

70,129

Trade creditors

343,511

429,128

Taxation and social security

64,827

61,680

Other creditors

76,290

38,303

603,139

765,878

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

855,586

851,990

Hire purchase contracts

36,545

1,604

892,131

853,594

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

R M Phillips

Balance outstanding at start of year

(33,370

)

(89,524

)

Amounts advanced

240,541

58,433

Amounts repaid

(280,960

)

(2,279

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(73,789

)

(33,370

)