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REGISTERED NUMBER: 03075689 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Pridgeon Farms Limited

Pridgeon Farms Limited (Registered number: 03075689)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Pridgeon Farms Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: P W Pridgeon
D J Pridgeon
J E Pridgeon





SECRETARY: J E Pridgeon





REGISTERED OFFICE: Willows Farm
Bradshaws Lane
Hogsthorpe
Skegness
Lincolnshire
PE24 5QL





REGISTERED NUMBER: 03075689 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Pridgeon Farms Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pridgeon Farms Limited for the year ended 31 October 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Pridgeon Farms Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pridgeon Farms Limited and state those matters that we have agreed to state to the Board of Directors of Pridgeon Farms Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pridgeon Farms Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Pridgeon Farms Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pridgeon Farms Limited. You consider that Pridgeon Farms Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Pridgeon Farms Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA


18 March 2025

Pridgeon Farms Limited (Registered number: 03075689)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,972 7,634
Tangible assets 5 4,362,534 4,492,608
Investment property 6 85,248 85,248
4,453,754 4,585,490

CURRENT ASSETS
Stocks 923,647 892,892
Debtors 7 111,791 148,875
Cash at bank and in hand 549,460 19,572
1,584,898 1,061,339
CREDITORS
Amounts falling due within one year 8 1,492,177 889,465
NET CURRENT ASSETS 92,721 171,874
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,546,475

4,757,364

CREDITORS
Amounts falling due after more than one
year

9

(2,329,489

)

(2,528,780

)

PROVISIONS FOR LIABILITIES (307,979 ) (258,371 )
NET ASSETS 1,909,007 1,970,213

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 1,908,907 1,970,113
SHAREHOLDERS' FUNDS 1,909,007 1,970,213

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 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.

Pridgeon Farms Limited (Registered number: 03075689)

Balance Sheet - continued
31 October 2024


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 9 March 2025 and were signed on its behalf by:





D J Pridgeon - Director


Pridgeon Farms Limited (Registered number: 03075689)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Pridgeon 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.
Land and Buildings - 60% on reducing balance, 25% on reducing balance and 20% on reducing balance
Improvements to property - 25% on reducing balance
Plant and machinery - 25% on reducing balance, 20% on reducing balance, 15% on reducing balance, 10% on cost, 6.7% - 20% on cost and Straight line over 20 years
Motor vehicles - 25% on reducing balance and 20% on reducing balance
Computer equipment - 25% on reducing balance and 20% on reducing balance

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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and others debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

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.


Pridgeon Farms Limited (Registered number: 03075689)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
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.

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.

Single farm payment entitlements are being amortised evenly over their estimated useful lives.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2023
and 31 October 2024 11,070
AMORTISATION
At 1 November 2023 3,436
Charge for year 1,662
At 31 October 2024 5,098
NET BOOK VALUE
At 31 October 2024 5,972
At 31 October 2023 7,634

Pridgeon Farms Limited (Registered number: 03075689)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

5. TANGIBLE FIXED ASSETS
Improvements
Land and to Plant and
Buildings property machinery
£    £    £   
COST
At 1 November 2023 3,030,241 227,450 2,756,272
Additions - - 92,974
Disposals - - (41,500 )
At 31 October 2024 3,030,241 227,450 2,807,746
DEPRECIATION
At 1 November 2023 24,945 109,537 1,423,765
Charge for year 164 2,142 225,133
Eliminated on disposal - - (32,907 )
At 31 October 2024 25,109 111,679 1,615,991
NET BOOK VALUE
At 31 October 2024 3,005,132 115,771 1,191,755
At 31 October 2023 3,005,296 117,913 1,332,507

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2023 57,309 16,270 6,087,542
Additions 21,000 1,250 115,224
Disposals - - (41,500 )
At 31 October 2024 78,309 17,520 6,161,266
DEPRECIATION
At 1 November 2023 25,805 10,882 1,594,934
Charge for year 8,071 1,195 236,705
Eliminated on disposal - - (32,907 )
At 31 October 2024 33,876 12,077 1,798,732
NET BOOK VALUE
At 31 October 2024 44,433 5,443 4,362,534
At 31 October 2023 31,504 5,388 4,492,608

Included in cost of land and buildings is freehold land of £ 3,002,989 (2023 - £ 3,002,989 ) which is not depreciated.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 85,248
NET BOOK VALUE
At 31 October 2024 85,248
At 31 October 2023 85,248

The Directors have considered the valuation of the Investment property and are satisfied that it represents market value at 31 October 2024.

Pridgeon Farms Limited (Registered number: 03075689)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 42,507 77,221
Other debtors 69,284 71,654
111,791 148,875

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 777,421 179,063
Hire purchase contracts 85,821 118,458
Trade creditors 225,802 249,576
Taxation and social security 73,131 34,223
Other creditors 330,002 308,145
1,492,177 889,465

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 2,329,489 2,478,926
Hire purchase contracts - 49,854
2,329,489 2,528,780

Amounts falling due in more than five years:

Repayable by instalments
Bank loan 1,864,089 1,205,472

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 102,110
Bank loans 3,106,910 2,555,879
Hire purchase contracts 85,821 168,312
3,192,731 2,826,301

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
27 Ordinary A £1 27 27
27 Ordinary B £1 27 27
36 Ordinary C £1 36 36
10 Ordinary D £1 10 10
100 100