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Registered number: 06492950
M Madders Farming Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Deans
Gibson House Hurricane Close
Stafford
Staffordshire
ST16 1GZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—8
Page 1
Balance Sheet
Registered number: 06492950
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 2,029,941 1,728,485
Investments 6 243,853 228,153
2,273,794 1,956,638
CURRENT ASSETS
Stocks 7 968,770 858,670
Debtors 8 532,315 318,790
Cash at bank and in hand 84,437 342
1,585,522 1,177,802
Creditors: Amounts Falling Due Within One Year 9 (340,135 ) (245,019 )
NET CURRENT ASSETS (LIABILITIES) 1,245,387 932,783
TOTAL ASSETS LESS CURRENT LIABILITIES 3,519,181 2,889,421
Creditors: Amounts Falling Due After More Than One Year 10 (140,286 ) (22,366 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (107,502 ) (63,742 )
NET ASSETS 3,271,393 2,803,313
CAPITAL AND RESERVES
Called up share capital 12 100 100
Fair value reserve 15 (71,363 ) (90,990 )
Profit and Loss Account 3,342,656 2,894,203
SHAREHOLDERS' FUNDS 3,271,393 2,803,313
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs R A Chandler
Director
24 June 2025
The notes on pages 3 to 8 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
M Madders Farming Limited is a private company, limited by shares, registered in England & Wales.  The company's registered number and registered office address can be found on the Company Information page.
2. Accounting Policies
2.1. Basis of Preparation of 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.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 
The policies adopted for the recognition of turnover are as follows:
Sale of goods
Turnover from the sale of milk, livestock, crops and electricity is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.  This is usually on dispatch of the goods.
Dividends receivable
Dividend income is recognised as the company's right to receive payment is established.
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.
Rent received
Rental income is recognised using the accrual model.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation.  Cost includes costs directly attributeable to making the asset capable of operating as intended.  Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets acquired under hire purchase contracts are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset.  The related obligations, net of future finance charges, are included in creditors.
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
2.5. Stocks and Work in Progress
Stocks and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell.  Cost includes all cost of purchase, cost of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula.  Provision is made for damaged, obsolete and slow-moving stock where appropriate.
2.6. Financial Instruments
Basic financial instruments are recognisd at amortised cost, with changes recognised in profit or loss. Derivatice financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Page 4
2.7. 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.
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 assesments in periods different from those in which they aare 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.
2.8. Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.10. Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.  Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
2.11. Hire Purchasing and leasing commitments
Assets obtained under hire purchase contracts are capitalised in the balance sheet and depreciated over their estimated useful lives.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future pauments is treated as a liability.
2.12. Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently they are measured at fair value through profit or loss if the shares are publicly traded or their fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 8)
8 8
Page 4
Page 5
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 123,388
As at 31 December 2024 123,388
Amortisation
As at 1 January 2024 123,388
As at 31 December 2024 123,388
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 January 2024 1,450,618 1,027,869 301,599 2,780,086
Additions 103,606 362,588 2,500 468,694
Disposals - (195,392 ) - (195,392 )
As at 31 December 2024 1,554,224 1,195,065 304,099 3,053,388
Depreciation
As at 1 January 2024 - 857,511 194,090 1,051,601
Provided during the period - 131,285 27,502 158,787
Disposals - (186,941 ) - (186,941 )
As at 31 December 2024 - 801,855 221,592 1,023,447
Net Book Value
As at 31 December 2024 1,554,224 393,210 82,507 2,029,941
As at 1 January 2024 1,450,618 170,358 107,509 1,728,485
The total value of fixed assets included in the above, which are held under hire purchase contracts are as follows:
Fixtures & Machinery
£
Cost
At 1 January 2024
121,702
Additions
351,500
Transfer to ownership
(121,702)
image
At 31 December 2024
351,500
image
Depreciation
At 1 January 2024
53,245
...CONTINUED
Page 5
Page 6
Transfer to ownership
(53,245)
Charge for year
87,875
image
At 31 December 2024
87,875
image
Net book value
At 31 December 2023
68,457
image
At 31 December 2024
263,625
image
6. Investments
Listed Unlisted Total
£ £ £
Cost
As at 1 January 2024 133,211 94,942 228,153
Revaluations 15,700 - 15,700
As at 31 December 2024 148,911 94,942 243,853
Provision
As at 1 January 2024 - - -
As at 31 December 2024 - - -
Net Book Value
As at 31 December 2024 148,911 94,942 243,853
As at 1 January 2024 133,211 94,942 228,153
The historical cost of the listed investments as at 31 December 2024 was £121,979 (2023 - £121,979)
7. Stocks
2024 2023
£ £
Stock 477,130 434,430
Herd 491,640 424,240
968,770 858,670
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 170,744 115,084
Prepayments and accrued income 20,754 10,700
Forward contracts 98,441 51,530
Corporation tax recoverable assets 52,267 7,614
VAT 22,900 20,385
Directors' loan accounts 167,209 113,477
532,315 318,790
Page 6
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9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 70,962 32,892
Trade creditors 98,258 124,486
Bank loans and overdrafts 10,205 11,990
Corporation tax 126,425 56,515
Other taxes and social security 3,693 3,663
Accruals and deferred income 30,592 15,473
340,135 245,019
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 128,104 -
Bank loans 12,182 22,366
140,286 22,366
11. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 70,962 32,892
Later than one year and not later than five years 128,104 -
199,066 32,892
199,066 32,892
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
13. Contingent Liabilities
M Madders Farming Limited has guaranteed loans with National Westminster Bank PLC for £971,512 (2023 £1,009,855) on behalf of both of the directors in the company.
14. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mrs Rosemary Chandler 105,420 125,764 69,510 - 161,674
Mr Michael Madders 8,057 111,149 113,671 - 5,535
The above loan is provided at a 2.25% interest rate and repayable on demand.
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15. Reserves
Fair Value Reserve
£
As at 1 January 2024 (90,990 )
Movements in fair value reserve 15,701
Deferred tax provision 3,926
As at 31 December 2024 (71,363 )
Page 8