Company registration number 12761027 (England and Wales)
DEBEN LODGE FARMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
DEBEN LODGE FARMS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
DEBEN LODGE FARMS LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,183,831
6,110,386
Investments
4
88,468
83,955
6,272,299
6,194,341
Current assets
Stocks
440,745
520,327
Debtors
5
195,472
123,684
Cash at bank and in hand
189,866
236,122
826,083
880,133
Creditors: amounts falling due within one year
6
(1,345,474)
(1,463,202)
Net current liabilities
(519,391)
(583,069)
Total assets less current liabilities
5,752,908
5,611,272
Creditors: amounts falling due after more than one year
7
-
0
(8,900)
Provisions for liabilities
(140,528)
(113,554)
Net assets
5,612,380
5,488,818
Capital and reserves
Called up share capital
8
5,260,576
5,260,576
Profit and loss reserves
9
351,804
228,242
Total equity
5,612,380
5,488,818
DEBEN LODGE FARMS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 15 May 2025 and are signed on its behalf by:
Mr R C Adams
Mrs T M Adams
Director
Director
Mr J E Adams
Director
Company registration number 12761027 (England and Wales)
DEBEN LODGE FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Deben Lodge Farms Limited is a private company limited by shares incorporated in England and Wales. The registered office is Deben Lodge, Back Lane, Falkenham, Ipswich, IP10 0TL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold buildings
4% per annum on cost
Plant and machinery
25% per annum on net book value
Tankers and trailers
25% per annum on net book value
Motor vehicles
25% per annum on net book value

Freehold land is not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

DEBEN LODGE FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

DEBEN LODGE FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

DEBEN LODGE FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
5
5
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 October 2023
5,908,511
417,647
6,326,158
Additions
-
0
190,079
190,079
Disposals
-
0
(20,000)
(20,000)
At 30 September 2024
5,908,511
587,726
6,496,237
Depreciation and impairment
At 1 October 2023
-
0
215,772
215,772
Depreciation charged in the year
12,405
95,792
108,197
Eliminated in respect of disposals
-
0
(11,563)
(11,563)
At 30 September 2024
12,405
300,001
312,406
Carrying amount
At 30 September 2024
5,896,106
287,725
6,183,831
At 30 September 2023
5,908,511
201,875
6,110,386
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
88,468
83,955
DEBEN LODGE FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
4
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 October 2023
83,955
Additions
4,513
At 30 September 2024
88,468
Carrying amount
At 30 September 2024
88,468
At 30 September 2023
83,955
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
36,828
27,694
Corporation tax recoverable
-
0
24,452
Other debtors
158,644
71,538
195,472
123,684
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
139,247
-
0
Trade creditors
63,462
300,752
Corporation tax
13,535
-
0
Other taxation and social security
(6,496)
3,180
Other creditors
1,135,726
1,159,270
1,345,474
1,463,202

Other creditors include hire purchase commitments of £8,900 (2023: £8,900) that are secured on the underlying assets.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
-
0
8,900
DEBEN LODGE FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
7
Creditors: amounts falling due after more than one year
(Continued)
- 8 -

Other creditors include hire purchase commitments of £Nil (2023: £8,900) that are secured on the underlying assets.

8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
5,260,576
5,260,576
5,260,576
5,260,576

 

9
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
228,242
116,882
Profit for the year
123,562
111,360
At the end of the year
351,804
228,242
10
Related party transactions

At the period end the company owed £67,500 (2023: £84,907) to other group companies. These amounts are interest free and repayable on demand.

 

Included within other creditors are interest free loans totalling £382,342 (2023: £382,342) from members of the directors' families. These loans are repayable on demand.

11
Directors' transactions

Included within other creditors are director loans totalling £656,452 (2023: £657,967). These are interest free and repayable on demand.

12
Parent company

The ultimate controlling party was P Adams & Sons (Farms) Limited (a company registered in England and Wales with company number 00638625 and registered office of Fleet House, Marsh Lane, Felixstowe, Suffolk, IP11 9RN) until 9 January 2025 when a group restructuring occurred. On this date the company was acquired by PAS Holding Co Limited (a company registered in England and Wales with company number 15987182 and registered office of Fleet House, Marsh Lane, Felixstowe, Suffolk, IP11 9RN). On 25 February 2025 a further group restructuring occurred and the company was acquired by DLF Hold Co Limited (a company registered in England and Wales with company number 15991481 and registered office of Deben Lodge, Back Lane, Falkenham, Ipswich, IP10 0TL).

 

As of 25 February 2025 the ultimate controlling party is considered to be DLF Hold Co Limited.

 

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