| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31st March 2025 |
| for |
| LTW Farms Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31st March 2025 |
| for |
| LTW Farms Ltd |
| LTW Farms Ltd (Registered number: 09229574) |
| Contents of the Financial Statements |
| for the year ended 31st March 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| LTW Farms Ltd |
| Company Information |
| for the year ended 31st March 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Regent's Court |
| Princess Street |
| Hull |
| East Yorkshire |
| HU2 8BA |
| LTW Farms Ltd (Registered number: 09229574) |
| Balance Sheet |
| 31st March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings |
| 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. |
| LTW Farms Ltd (Registered number: 09229574) |
| Balance Sheet - continued |
| 31st March 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| LTW Farms Ltd (Registered number: 09229574) |
| Notes to the Financial Statements |
| for the year ended 31st March 2025 |
| 1. | STATUTORY INFORMATION |
| LTW Farms Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents sales of farm produce, livestock and farm subsidies, net of value added tax and trade discounts. Turnover is recognised when the economic risks and rewards pass to third parties. Sales of produce are recognised upon dispatch and revenue from livestock is recognised on the day of sale. |
| 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. |
| Basic Payment Scheme entitlements are initially recognised at cost and are amortised on a straight line basis over their expected useful life. At the reporting date, the entitlement had been fully amortised. The original Basic Payment Scheme commenced in 2015 and ceased during a previous accounting year. |
| Entitlements acquired via the ownership of existing land, and therefore have no cost, have been revalued to fair value on transition to FRS102, which has subsequently been treated as their deemed cost, and are being amortised over their expected useful life in accordance with the above period of benefit expected from the basic payment scheme. |
| Provision is made for any impairment. |
| Tangible fixed assets |
| Land - not depreciated |
| Buildings - 5% on cost |
| Plant and machinery etc - between 5% and 25% on cost |
| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes those costs directly attributable to making the asset capable of operating as intended. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Stocks, including biological assets, are valued under the cost model in accordance with Section 34 of FRS 102 using the lower of cost and estimated selling price less costs to complete and sell method. |
| LTW Farms Ltd (Registered number: 09229574) |
| Notes to the Financial Statements - continued |
| for the year ended 31st March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| Investments |
| Investments not publicly traded are measured at cost less impairment. Listed investments are measured at fair value, with changes in fair value recognised in the profit and loss account. |
| Government grants |
| Amounts receivable under the Common Agriculture Policy subsidy schemes are recognised as income in the profit and loss account when the eligibility criteria have been satisfied at the end of the scheme year. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| LTW Farms Ltd (Registered number: 09229574) |
| Notes to the Financial Statements - continued |
| for the year ended 31st March 2025 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1st April 2024 |
| and 31st March 2025 |
| AMORTISATION |
| At 1st April 2024 |
| Charge for year |
| At 31st March 2025 |
| NET BOOK VALUE |
| At 31st March 2025 |
| At 31st March 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1st April 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31st March 2025 |
| DEPRECIATION |
| At 1st April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31st March 2025 |
| NET BOOK VALUE |
| At 31st March 2025 |
| At 31st March 2024 |
| LTW Farms Ltd (Registered number: 09229574) |
| Notes to the Financial Statements - continued |
| for the year ended 31st March 2025 |
| 6. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1st April 2024 |
| and 31st March 2025 |
| NET BOOK VALUE |
| At 31st March 2025 |
| At 31st March 2024 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' loan accounts | - | 2,179 |
| VAT |
| Prepayments and accrued income |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors |
| Directors' loan accounts | 6,395 | 5,000 |
| Accruals and deferred income |
| Deferred government grants |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts |
| Other creditors |
| Deferred government grants |