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REGISTERED NUMBER: 00683407 (England and Wales)
















TROSTON FARMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017






TROSTON FARMS LIMITED (REGISTERED NUMBER: 00683407)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2017




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 9


TROSTON FARMS LIMITED

COMPANY INFORMATION
for the Year Ended 30 September 2017







DIRECTORS: Herr H F Claas
Mrs C A Claas-Muehlhaeuser
C E Last
A J Kerr





SECRETARY: C E Last





REGISTERED OFFICE: Troston Farms Limited
Park Farm Drive
Stanton
Bury St. Edmunds
Suffolk
IP31 2DL





REGISTERED NUMBER: 00683407 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF

TROSTON FARMS LIMITED (REGISTERED NUMBER: 00683407)

STATEMENT OF FINANCIAL POSITION
30 September 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 143,188 176,666
Property, plant and equipment 5 22,834,292 22,735,982
Investments 6 4,952 4,952
Investment property 7 3,352,684 3,957,720
26,335,116 26,875,320

CURRENT ASSETS
Inventories 738,098 797,457
Debtors 8 1,308,765 1,415,315
2,046,863 2,212,772
CREDITORS
Amounts falling due within one year 9 1,663,368 3,787,238
NET CURRENT ASSETS/(LIABILITIES) 383,495 (1,574,466 )
TOTAL ASSETS LESS CURRENT LIABILITIES 26,718,611 25,300,854

CREDITORS
Amounts falling due after more than one
year

10

(6,142,649

)

(4,816,455

)

PROVISIONS FOR LIABILITIES (94,869 ) (97,069 )
NET ASSETS 20,481,093 20,387,330

CAPITAL AND RESERVES
Called up share capital 12 305,000 305,000
Share premium 18,414,200 18,414,200
Retained earnings 1,761,893 1,668,130
SHAREHOLDERS' FUNDS 20,481,093 20,387,330

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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.

TROSTON FARMS LIMITED (REGISTERED NUMBER: 00683407)

STATEMENT OF FINANCIAL POSITION - continued
30 September 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 7 March 2018 and were signed on its behalf by:





C E Last - Director


TROSTON FARMS LIMITED (REGISTERED NUMBER: 00683407)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2017

1. STATUTORY INFORMATION

Troston 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements for the year ended 30 September 2017 are the first financial statements of Troston
Farms Limited prepared in accordance with FRS 102.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party
transactions with wholly owned subsidiaries within the group.

Revenue
Revenue is the total amount receivable by the company for goods supplied and services provided during the
year, excluding value added tax and trade discounts. Revenue from the sale of goods is recognised on
despatch. Revenue from services provided is recognised when the company has performed its obligations and
in exchange obtained the right of consideration.

Intangible assets
Intangible assets include the cost of purchasing entitlements to basic farm payment as part of the acquisition
of additional freehold property. These entitlements are amortised evenly over the period for which they may
reasonably be expected to be of value to the business. Amortisation at a rate of 20% is charged to the income
statement.

Intangible assets also include the purchase of storage rights at a grain storage and marketing co-operative.
Amortisation is charged to the income statement evenly over 15 years, being the period the directors consider
the asset may reasonably be expected to be of value to the business, commencing in the year following
acquisition.

Intangible assets also include entitlements to the basic payment. The entitlements are recognised at fair value
and written off on a straight line basis over the period to 31 December 2019 when the scheme ends.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 20% on reducing balance, 10% on cost and 6.7% on cost
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Freehold land is not depreciated.

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from
changes in fair value is recognised in the income statement.

Inventories
Inventories are measured at the lower of cost and fair value less costs to complete and sell after making due
allowance for obsolete and slow moving items.


TROSTON FARMS LIMITED (REGISTERED NUMBER: 00683407)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2017

2. ACCOUNTING POLICIES - continued
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 contract or finance leases are capitalised in the statement of financial
position. Those held under hire purchase contract are depreciated over their useful lives. Those held under
finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the income statement over the relevant period. The
capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the income statement on a straight line basis over the
period of the lease.

Investments
Investments are included at cost less impairment.

Basic farm payment
The Basic Farm Payment is recognised in the financial statements in accordance with current H.M. Revenue &
Customs guidance.

Translation of foreign currencies
Assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the
statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the
date of the transaction. All exchange adjustments are dealt with through the income statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2016 - 9 ) .

TROSTON FARMS LIMITED (REGISTERED NUMBER: 00683407)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2017

4. INTANGIBLE FIXED ASSETS
Basic
payment
Storage granted
Entitlements rights entitlement Totals
£    £    £    £   
COST
At 1 October 2016 135,095 109,300 82,943 327,338
Additions 2,100 - - 2,100
At 30 September 2017 137,195 109,300 82,943 329,438
AMORTISATION
At 1 October 2016 109,295 21,861 19,516 150,672
Amortisation for year 8,775 7,287 19,516 35,578
At 30 September 2017 118,070 29,148 39,032 186,250
NET BOOK VALUE
At 30 September 2017 19,125 80,152 43,911 143,188
At 30 September 2016 25,800 87,439 63,427 176,666

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2016 23,283,971 1,461,794 24,745,765
Additions 383,706 150,174 533,880
Disposals - (192,870 ) (192,870 )
At 30 September 2017 23,667,677 1,419,098 25,086,775
DEPRECIATION
At 1 October 2016 1,262,938 746,845 2,009,783
Charge for year 230,146 148,278 378,424
Eliminated on disposal - (135,724 ) (135,724 )
At 30 September 2017 1,493,084 759,399 2,252,483
NET BOOK VALUE
At 30 September 2017 22,174,593 659,699 22,834,292
At 30 September 2016 22,021,033 714,949 22,735,982

TROSTON FARMS LIMITED (REGISTERED NUMBER: 00683407)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2017

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2016
and 30 September 2017 4,952
NET BOOK VALUE
At 30 September 2017 4,952
At 30 September 2016 4,952

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2016 3,957,720
Additions 34,964
Disposals (640,000 )
At 30 September 2017 3,352,684
NET BOOK VALUE
At 30 September 2017 3,352,684
At 30 September 2016 3,957,720

The directors have considered the value of investment property at 30 September 2017 to be equal to the cost
of the property, having regard to market based evidence for similar properties sold in the local area.

8. DEBTORS
2017 2016
£    £   
Amounts falling due within one year:
Trade debtors 729,181 467,734
VAT - 13,669
Prepayments and accrued income 29,584 33,912
758,765 515,315

Amounts falling due after more than one year:
Other debtors 550,000 900,000

Aggregate amounts 1,308,765 1,415,315

TROSTON FARMS LIMITED (REGISTERED NUMBER: 00683407)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2017

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Bank loans and overdrafts 1,206,136 3,288,866
Hire purchase contracts 73,806 71,890
Trade creditors 195,446 238,909
Corporation tax 61,050 9,750
Social security and other taxes - 6,124
VAT 41 -
Other creditors 30,311 42,838
Accruals and deferred income 96,578 128,861
1,663,368 3,787,238

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2017 2016
£    £   
Bank loans - 2-5 years 6,000,000 4,600,000
Hire purchase contracts 142,649 216,455
6,142,649 4,816,455

11. SECURED DEBTS

The following secured debts are included within creditors:

2017 2016
£    £   
Bank overdrafts 656,136 288,866
Bank loans 6,550,000 7,600,000
Hire purchase contracts 216,455 288,345
7,422,591 8,177,211

The bank loans are secured on land and property held within the company. The hire purchase creditor is
secured on the assets to which it relates.

12. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2017 2016
value: £    £   
305,000 Ordinary £1 305,000 305,000

TROSTON FARMS LIMITED (REGISTERED NUMBER: 00683407)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2017

13. OTHER FINANCIAL COMMITMENTS

At the year end the company has commitments due as follows:

20172016
££
Within one year62,50077,830
Between one and five years 140,970185,830
More than five years-17,640
203,470280,850

14. FIRST YEAR ADOPTION

Recognition of basic payment scheme entitlements

Under previous UK GAAP the company was not required to recognise the basic payment entitlements as an
intangible asset. Under FRS 102, an asset of £82,943 was recognised on transition with a corresponding
balance in deferred income. The amortisation charge in the year to 30 September 2016 was £19,516 with the
same amount released from deferred income.