REGISTERED NUMBER: 04488760 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Pengwern Farms Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D H Thomas

Mrs G M Thomas

SECRETARY:

Mrs G M Thomas

REGISTERED OFFICE:

Pengwern Isaf

Cenarth

Newcastle Emlyn

Carmarthenshire

SA38 9LD

REGISTERED NUMBER:

04488760 (England and Wales)

FIXED ASSETS

Tangible assets

4

1,058,748

948,536

CURRENT ASSETS

Stocks

180,475

180,725

Debtors

5

115,258

100,626

Cash at bank

390,465

268,023

686,198

549,374

CREDITORS

Amounts falling due within one year

6

522,496

461,359

NET CURRENT ASSETS

163,702

88,015

TOTAL ASSETS LESS CURRENT LIABILITIES

1,222,450

1,036,551

CREDITORS

Amounts falling due after more than one year

7

(48,252

)

(81,526

)

PROVISIONS FOR LIABILITIES

(201,307

)

(122,216

)

NET ASSETS

972,891

832,809

CAPITAL AND RESERVES

Called up share capital

780

780

Retained earnings

972,111

832,029

SHAREHOLDERS' FUNDS

972,891

832,809

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 December 2025 and were signed on its behalf by:

D H Thomas - Director

1.	STATUTORY INFORMATION

Pengwern Farms Ltd 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.

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

-

15% on reducing balance

Motor vehicles

-

20% 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

78,538

1,463,901

63,476

1,286

1,607,201

Additions

-

256,834

-

-

256,834

Disposals

-

(33,100

)

-

-

(33,100

)

At 31 March 2025

78,538

1,687,635

63,476

1,286

1,830,935

DEPRECIATION

At 1 April 2024

-

624,683

32,696

1,286

658,665

Charge for year

-

130,258

6,156

-

136,414

Eliminated on disposal

-

(22,892

)

-

-

(22,892

)

At 31 March 2025

-

732,049

38,852

1,286

772,187

NET BOOK VALUE

At 31 March 2025

78,538

955,586

24,624

-

1,058,748

At 31 March 2024

78,538

839,218

30,780

-

948,536

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

Plant and

machinery

£

COST

At 1 April 2024

and 31 March 2025

230,900

DEPRECIATION

At 1 April 2024

25,037

Charge for year

30,880

At 31 March 2025

55,917

NET BOOK VALUE

At 31 March 2025

174,983

At 31 March 2024

205,863

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

80,797

89,956

Other debtors

34,461

10,670

115,258

100,626

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

18,855

18,067

Hire purchase contracts

27,729

41,884

Trade creditors

168,619

114,340

Taxation and social security

46,164

12,101

Other creditors

261,129

274,967

522,496

461,359

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

34,101

53,802

Hire purchase contracts

14,151

27,724

48,252

81,526

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

9,174

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

D H Thomas and Mrs G M Thomas

Balance outstanding at start of year

(272,967

)

(294,502

)

Amounts advanced

29,737

36,050

Amounts repaid

(15,899

)

(14,515

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(259,129

)

(272,967

)

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr & Mrs Thomas.