REGISTERED NUMBER: 04639430 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Iscoed Farms Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J H R Jones

T H Jones

R H Jones

REGISTERED OFFICE:

Iscoed Uchaf

Ferryside

Carmarthenshire

SA17 5TR

REGISTERED NUMBER:

04639430 (England and Wales)

ACCOUNTANTS:

Ashmole & Co.

Chartered Certified Accountants

The Old School

The Quay

Carmarthen

Carmarthenshire

SA31 3LN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

643,013

535,133

643,013

535,133

CURRENT ASSETS

Stocks

178,881

175,252

Debtors

6

43,823

31,627

Investments

7

50,474

50,474

Cash at bank

68,813

32,228

341,991

289,581

CREDITORS

Amounts falling due within one year

8

104,271

119,433

NET CURRENT ASSETS

237,720

170,148

TOTAL ASSETS LESS CURRENT LIABILITIES

880,733

705,281

CREDITORS

Amounts falling due after more than one year

9

(13,275

)

-

PROVISIONS FOR LIABILITIES

(71,177

)

(45,376

)

NET ASSETS

796,281

659,905

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

796,279

659,903

SHAREHOLDERS' FUNDS

796,281

659,905

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 2 December 2025 and were signed on its behalf by:

J H R Jones - Director

T H Jones - Director

1.	STATUTORY INFORMATION

Iscoed Farms Limited 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 etc

-

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.

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.

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.

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 3 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

14,080

AMORTISATION

At 1 April 2024

and 31 March 2025

14,080

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

961,519

Additions

162,184

Disposals

(36,000

)

At 31 March 2025

1,087,703

DEPRECIATION

At 1 April 2024

426,386

Charge for year

41,524

Eliminated on disposal

(23,220

)

At 31 March 2025

444,690

NET BOOK VALUE

At 31 March 2025

643,013

At 31 March 2024

535,133

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

Plant and

machinery

etc

£

COST

Additions

59,000

At 31 March 2025

59,000

DEPRECIATION

Charge for year

7,867

At 31 March 2025

7,867

NET BOOK VALUE

At 31 March 2025

51,133

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

26,797

29,431

Other debtors

17,026

2,196

43,823

31,627

7.	CURRENT ASSET INVESTMENTS

31.3.25

31.3.24

£

£

Listed investments

1,931

1,931

First Milk capital a/c

48,543

48,543

50,474

50,474

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

22,992

29,169

Taxation and social security

8,349

-

Other creditors

72,930

90,264

104,271

119,433

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts

13,275

-

10.	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

£

£

J H R Jones and T H Jones

Balance outstanding at start of year

(90,264

)

(102,057

)

Amounts advanced

35,741

30,237

Amounts repaid

(18,407

)

(18,444

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(72,930

)

(90,264

)