Castle Farm Estates Limited
Registered number: 06339177
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 554,698 516,550
Current assets
Stocks 1,138,557 1,219,340
Investments held as current assets 234,000 198,000
Cash at bank and in hand 136,478 166,489
1,509,035 1,583,829
Creditors: amounts falling due within one year 4 (672,792) (764,432)
Net current assets 836,243 819,397
Total assets less current liabilities 1,390,941 1,335,947
Creditors: amounts falling due after more than one year 5 (237,853) (289,272)
Net assets 1,153,088 1,046,675
Capital and reserves
Called up share capital 25,000 25,000
Profit and loss account 1,128,088 1,021,675
Shareholders' funds 1,153,088 1,046,675
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P J McCloskey
Director
Approved by the board on 3 June 2025
Castle Farm Estates Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land & buildings not provided
Motor vehicles 25% straight line
Fixtures & fittings 20% straight line
Investments
Investments in unquoted equity instruments are measured at fair value. Changes in fair value are recognised in profit or loss. Fair value is estimated by using a valuation technique.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 19 19
3 Tangible fixed assets
Land & buildings Fixtures & fittings Motor vehicles Total
£ £ £ £
Cost
At 1 April 2024 516,550 261,132 136,907 914,589
Additions - 14,050 35,878 49,928
At 31 March 2025 516,550 275,182 172,785 964,517
Depreciation
At 1 April 2024 - 261,132 136,907 398,039
Charge for the year - 2,810 8,970 11,780
At 31 March 2025 - 263,942 145,877 409,819
Net book value
At 31 March 2025 516,550 11,240 26,908 554,698
At 31 March 2024 516,550 - - 516,550
4 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 32,566 26,628
Obligations under finance lease and hire purchase contracts 11,829 -
Trade creditors 320,367 318,537
Amounts owed to group undertakings and undertakings in which the company has a participating interest 198,184 179,937
Corporation tax 8,093 23,762
Other taxes and social security costs 54,256 88,071
Other creditors and accruals 47,497 127,497
672,792 764,432
5 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 4,062 14,062
Obligations under finance lease and hire purchase contracts 22,673 -
Director's loan 211,118 275,210
237,853 289,272
6 Related party transactions
Mr Mc Closkey, a director of the company operates a director's current account.

At the end of the period the balance due to Mr McCloskey was £275,210 (2023 £656,449). This in included in creditors.

The company rents the premises from which it operates at market value from both Patrick McCloskey and Molesey Refrigeration Ltd.
7 Controlling party
The company was under the control of Mr McCloskey throughout the current year. The company is wholly owned by Molesey Refrigeration Ltd of which Mr Closkey is the 100% shareholder.
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