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REGISTERED NUMBER: 07784586 (Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

MORLOGWS FARM CYF









MORLOGWS FARM CYF (REGISTERED NUMBER: 07784586)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025










Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


MORLOGWS FARM CYF (REGISTERED NUMBER: 07784586)

ABRIDGED BALANCE SHEET
31 MARCH 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,547 6,547
Tangible assets 5 1,785,303 1,181,707
Herd basis 6 353,950 349,750
2,145,800 1,538,004

CURRENT ASSETS
Stocks 60,903 61,694
Debtors 72,664 56,535
133,567 118,229
CREDITORS
Amounts falling due within one year 750,949 637,436
NET CURRENT LIABILITIES (617,382 ) (519,207 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,528,418
1,018,797

CREDITORS
Amounts falling due after more than one
year
7
1,373,222
836,108
NET ASSETS 155,196 182,689

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 154,996 182,489
SHAREHOLDERS' FUNDS 155,196 182,689

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 notes form part of these financial statements

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MORLOGWS FARM CYF (REGISTERED NUMBER: 07784586)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2025


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 December 2025 and were signed on its behalf by:




Mr A P Jones - Director



Mrs N J Jones - Director


The notes form part of these financial statements

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MORLOGWS FARM CYF (REGISTERED NUMBER: 07784586)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


1. STATUTORY INFORMATION

Morlogws Farm Cyf is a private company, limited by shares , registered in Wales. The company's registered number and registered office address are as below:

Registered number: 07784586

Registered office: Morlogws Uchaf Tanglwst
Capel Iwan
Newcastle Emlyn
Carmarthenshire
SA38 9NJ

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.

The financial statements are prepared on a going concern basis as the directors expect continues growth and the company should be able to operate within its overdraft. The directors are not aware of any reason why this facility might be withdrawn and as a result the going concern basis of accounting has been adopted.

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.

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 - 20% on cost and 15% on cost

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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MORLOGWS FARM CYF (REGISTERED NUMBER: 07784586)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


2. ACCOUNTING POLICIES - continued

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 4 (2024 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2024
and 31 March 2025 6,547
NET BOOK VALUE

At 31 March 2025 6,547
At 31 March 2024 6,547

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2024 1,831,860
Additions 649,008
Disposals (14,161 )
At 31 March 2025 2,466,707
DEPRECIATION
At 1 April 2024 650,153
Charge for year 45,412
Eliminated on disposal (14,161 )
At 31 March 2025 681,404
NET BOOK VALUE
At 31 March 2025 1,785,303
At 31 March 2024 1,181,707

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MORLOGWS FARM CYF (REGISTERED NUMBER: 07784586)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


5. TANGIBLE FIXED ASSETS - continued

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

Totals
£   
COST
At 1 April 2024
and 31 March 2025 32,800
DEPRECIATION
At 1 April 2024 13,120
Charge for year 6,560
At 31 March 2025 19,680
NET BOOK VALUE
At 31 March 2025 13,120
At 31 March 2024 19,680

6. HERD BASIS
Dairy
herd
basis
£   
COST
At 1 April 2024 349,750
Additions 4,200
At 31 March 2025 353,950
NET BOOK VALUE
At 31 March 2025 353,950
At 31 March 2024 349,750

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2025 2024
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 808,306 325,390

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MORLOGWS FARM CYF (REGISTERED NUMBER: 07784586)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


8. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Bank overdrafts 283,489 270,195
Bank loans 1,579,712 1,002,907
1,863,201 1,273,102

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