REGISTERED NUMBER: 05198898

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Glaspant Farm Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D. G. J. Davies

Mrs E E Davies

L W Davies

REGISTERED OFFICE:

Glaspant

Beulah

NEWCASTLE EMLYN

Ceredigion

SA38 9QN

REGISTERED NUMBER:

05198898

FIXED ASSETS

Tangible assets

4

870,745

762,939

Investments

5

128,708

112,742

999,453

875,681

CURRENT ASSETS

Stocks

126,705

115,368

Debtors

6

101,315

68,882

Investments

7

6,550

6,550

Cash at bank

432,784

292,356

667,354

483,156

CREDITORS

Amounts falling due within one year

8

688,217

547,992

NET CURRENT LIABILITIES

(20,863

)

(64,836

)

TOTAL ASSETS LESS CURRENT LIABILITIES

978,590

810,845

PROVISIONS FOR LIABILITIES

9

154,769

134,286

NET ASSETS

823,821

676,559

CAPITAL AND RESERVES

Called up share capital

50

50

Retained earnings

823,771

676,509

SHAREHOLDERS' FUNDS

823,821

676,559

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2025 and were signed on its behalf by:

D. G. J. Davies - Director

Mrs E E Davies - Director

L W Davies - Director

1.	STATUTORY INFORMATION

Glaspant Farm Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Plant and machinery etc

-

33% on cost, 20% on reducing balance, 15% on reducing balance and 10% 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 Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Leasehold

machinery

Buildings

etc

Totals

£

£

£

COST

At 1 April 2024

182,065

1,115,592

1,297,657

Additions

-

171,645

171,645

Disposals

-

(16,500

)

(16,500

)

At 31 March 2025

182,065

1,270,737

1,452,802

DEPRECIATION

At 1 April 2024

-

534,718

534,718

Charge for year

-

61,088

61,088

Eliminated on disposal

-

(13,749

)

(13,749

)

At 31 March 2025

-

582,057

582,057

NET BOOK VALUE

At 31 March 2025

182,065

688,680

870,745

At 31 March 2024

182,065

580,874

762,939

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31.3.25

31.3.24

£

£

Dairy Herd

128,708

112,742

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

66,324

57,665

Other debtors

34,991

11,217

101,315

68,882

7.	CURRENT ASSET INVESTMENTS

31.3.25

31.3.24

£

£

Milk Company Investment

6,550

6,550

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts

91,800

-

Trade creditors

95,191

28,831

Taxation and social security

17,332

9,648

Other creditors

483,894

509,513

688,217

547,992

Other creditors includes £405,646 outstanding to the directors.

9.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

154,769

134,286

Deferred

tax

£

Balance at 1 April 2024

134,286

Provided during year

20,483

Balance at 31 March 2025

154,769