REGISTERED NUMBER: 11406054 (England and Wales)

Trela Farms Ltd

Unaudited Financial Statements

for the Year Ended 31st March 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

A W Sanders Esq

K A Sanders

REGISTERED OFFICE:

Trela Farm

Minster

Camelford

Cornwall

PL32 9UB

REGISTERED NUMBER:

11406054 (England and Wales)

ACCOUNTANTS:

ATC Advisors

Chartered Accountants

Unit 2 Dunheved Court

Pennygillam Way

LAUNCESTON

Cornwall

PL15 7ED

FIXED ASSETS

Tangible assets

4

2,338,046

1,687,900

Herd basis

5

458,700

479,600

2,796,746

2,167,500

CURRENT ASSETS

Stocks

190,905

177,305

Debtors

6

115,598

124,796

Cash at bank

173,128

24,277

479,631

326,378

CREDITORS

Amounts falling due within one year

7

528,623

501,805

NET CURRENT LIABILITIES

(48,992

)

(175,427

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,747,754

1,992,073

CREDITORS

Amounts falling due after more than one year

8

(1,590,538

)

(1,073,006

)

PROVISIONS FOR LIABILITIES

(63,280

)

(41,002

)

NET ASSETS

1,093,936

878,065

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

1,092,936

877,065

1,093,936

878,065

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 24th December 2025 and were signed on its behalf by:

A W Sanders Esq - Director

1.	STATUTORY INFORMATION

Trela 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.

Freehold property

-

not provided for on Land and Straight line over 15 years

Tenant's improvements

-

5% on cost

Plant and machinery

-

25% on reducing balance and 10% on cost

Stocks

Farm stock is split between dairy herd, cattle and produce and are all valued at cost. Where cost cannot be

determined they are valued at their fair value.

Cost is calculated using the first-in, first-out method.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Tenant's

Plant and

Motor

property

improvements

machinery

vehicles

Totals

£

£

£

£

£

COST

At 1st April 2024

1,473,088

217,973

342,138

3,850

2,037,049

Additions

596,243

8,000

157,763

-

762,006

Disposals

-

-

(49,500

)

-

(49,500

)

At 31st March 2025

2,069,331

225,973

450,401

3,850

2,749,555

DEPRECIATION

At 1st April 2024

128,094

39,063

180,731

1,261

349,149

Charge for year

32,023

11,199

49,681

647

93,550

Eliminated on disposal

-

-

(31,190

)

-

(31,190

)

At 31st March 2025

160,117

50,262

199,222

1,908

411,509

NET BOOK VALUE

At 31st March 2025

1,909,214

175,711

251,179

1,942

2,338,046

At 31st March 2024

1,344,994

178,910

161,407

2,589

1,687,900

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

Plant and

machinery

£

COST

At 1st April 2024

46,000

Transfer to ownership

(46,000

)

At 31st March 2025

-

DEPRECIATION

At 1st April 2024

31,754

Transfer to ownership

(31,754

)

At 31st March 2025

-

NET BOOK VALUE

At 31st March 2025

-

At 31st March 2024

14,246

5.	HERD BASIS

Herd

basis

£

COST

At 1st April 2024

479,600

Disposals

(20,900

)

At 31st March 2025

458,700

NET BOOK VALUE

At 31st March 2025

458,700

At 31st March 2024

479,600

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

54,157

83,411

Other debtors

61,441

41,385

115,598

124,796

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

60,088

57,237

Trade creditors

59,215

87,978

Taxation and social security

76,328

45,012

Other creditors

332,992

311,578

528,623

501,805

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

1,590,538

1,073,006

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,350,186

844,058

9.	SECURED DEBTS

Barclays Bank hold a fixed and floating charge over the property or undertaking of the company.