Company No: 11170369 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	1,724,389		1,068,598
Biological assets	5	431,245		337,118
		2,155,634		1,405,716
Current assets
Stocks	6	250,749		172,564
Debtors	7	206,335		165,625
Cash at bank and in hand		1,071		761
		458,155		338,950
Creditors: amounts falling due within one year	8	( 685,858)		( 511,556)
Net current liabilities		(227,703)		(172,606)
Total assets less current liabilities		1,927,931		1,233,110
Creditors: amounts falling due after more than one year	9	( 1,176,898)		( 779,820)
Provision for liabilities		( 148,922)		( 124,499)
Net assets		602,111		328,791
Capital and reserves
Called-up share capital	10	100		100
Profit and loss account		602,011		328,691
Total shareholders' funds		602,111		328,791

For the financial year ending 31 March 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 L and L Trowbridge Limited (registered number: 11170369) were approved and authorised for issue by the Board of Directors on 08 December 2025. They were signed on its behalf by:

Mrs L Trowbridge Director

Mr L Trowbridge 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

L and L Trowbridge 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 Provost Farm Butts Lane, Stour Provost, Gillingham, SP8 5RU, United Kingdom.

The financial statements have been prepared under the historical cost convention 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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

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:

Other intangible assets

3 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 at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Leasehold improvements	50 years straight line
Plant and machinery	20 % reducing balance
Vehicles	20 % 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.

Biological assets

Biological assets are recognised only when the entity has control of the asset as a result of past events, it is probable that future economic benefits associated with the asset will flow to the entity; and the fair value or cost of the asset can be measured reliably.

The Company measures biological assets at cost less accumulated depreciation and accumulated impairment losses as follows:

Dairy Herd 10-20% straight line

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.

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.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

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		10

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 April 2024	18,993		18,993
Disposals	( 18,993)		( 18,993)
At 31 March 2025	0		0
Accumulated amortisation
At 01 April 2024	18,993		18,993
Disposals	( 18,993)		( 18,993)
At 31 March 2025	0		0
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Land and buildings		Leasehold improve- ments		Plant and machinery		Vehicles		Total
	£		£		£		£		£
Cost
At 01 April 2024	429,292		219,410		704,490		10,000		1,363,192
Additions	532,881		0		278,229		3,000		814,110
Disposals	0		0		( 111,497)		0		( 111,497)
At 31 March 2025	962,173		219,410		871,222		13,000		2,065,805
Accumulated depreciation
At 01 April 2024	0		16,876		277,385		333		294,594
Charge for the financial year	0		4,388		97,247		1,980		103,615
Disposals	0		0		( 56,793)		0		( 56,793)
At 31 March 2025	0		21,264		317,839		2,313		341,416
Net book value
At 31 March 2025	962,173		198,146		553,383		10,687		1,724,389
At 31 March 2024	429,292		202,534		427,105		9,667		1,068,598

5. Biological assets

	2025
	£
Biological assets at cost	431,245

Assets held at cost:

	Dairy		Total
	£		£
Cost
At 01 April 2024	360,675		360,675
Increase due to purchases/ transfers in	179,980		179,980
Decrease attributable to sales/ transfers out	( 66,779)		( 66,779)
At 31 March 2025	473,876		473,876
Accumulated depreciation
At 01 April 2024	23,557		23,557
Charge for the financial year	21,838		21,838
Decrease attributable to sales/ transfers out	( 2,764)		( 2,764)
At 31 March 2025	42,631		42,631
Net book value
At 31 March 2025	431,245		431,245
At 31 March 2024	337,118		337,118

6. Stocks

	2025		2024
	£		£
Stocks	250,749		172,564

7. Debtors

	2025		2024
	£		£
Trade debtors	176,361		141,901
VAT recoverable	29,974		23,724
	206,335		165,625

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts	106,671		171,744
Trade creditors	226,612		138,829
Taxation and social security	48,565		19,735
Obligations under finance leases and hire purchase contracts	92,618		64,910
Other creditors	211,392		116,338
	685,858		511,556

Bank borrowings
The carrying amount at the year end is £25,838 (2024 - £32,827).
The bank loans are secured against specific assets held by the company.

Finance obligations
The carrying amount at the year end is £92,168 (2024 - £64,910).
The hire purchase agreements are secured against the assets to which they relate.

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

	2025		2024
	£		£
Bank loans	1,067,418		714,618
Obligations under finance leases and hire purchase contracts	109,480		65,202
	1,176,898		779,820

Bank borrowings
The carrying amount at the year end is £1,043,805 (2024 - £685,452).
The bank loans are secured against specific assets held by the company.

Finance obligations
The carrying amount at the year end is £109,480 (2024 - £65,202).
The hire purchase agreements are secured against the assets to which they relate.

10. Called-up share capital

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