IRIS Accounts Production v25.1.4.42 02356991 Board of Directors 1.2.24 31.1.25 31.1.25 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh023569912024-01-31023569912025-01-31023569912024-02-012025-01-31023569912023-01-31023569912023-02-012024-01-31023569912024-01-3102356991ns15:EnglandWales2024-02-012025-01-3102356991ns14:PoundSterling2024-02-012025-01-3102356991ns10:Director12024-02-012025-01-3102356991ns10:PrivateLimitedCompanyLtd2024-02-012025-01-3102356991ns10:SmallEntities2024-02-012025-01-3102356991ns10:AuditExempt-NoAccountantsReport2024-02-012025-01-3102356991ns10:SmallCompaniesRegimeForDirectorsReport2024-02-012025-01-3102356991ns10:SmallCompaniesRegimeForAccounts2024-02-012025-01-3102356991ns10:FullAccounts2024-02-012025-01-3102356991ns10:Director22024-02-012025-01-3102356991ns10:Director32024-02-012025-01-3102356991ns10:CompanySecretary12024-02-012025-01-3102356991ns10:RegisteredOffice2024-02-012025-01-3102356991ns5:CurrentFinancialInstruments2025-01-3102356991ns5:CurrentFinancialInstruments2024-01-3102356991ns5:Non-currentFinancialInstruments2025-01-3102356991ns5:Non-currentFinancialInstruments2024-01-3102356991ns5:ShareCapital2025-01-3102356991ns5:ShareCapital2024-01-3102356991ns5:RetainedEarningsAccumulatedLosses2025-01-3102356991ns5:RetainedEarningsAccumulatedLosses2024-01-3102356991ns5:IntangibleAssetsOtherThanGoodwill2024-02-012025-01-3102356991ns5:LandBuildings2024-01-3102356991ns5:PlantMachinery2024-01-3102356991ns5:FurnitureFittings2024-01-3102356991ns5:LandBuildings2024-02-012025-01-3102356991ns5:PlantMachinery2024-02-012025-01-3102356991ns5:FurnitureFittings2024-02-012025-01-3102356991ns5:LandBuildings2025-01-3102356991ns5:PlantMachinery2025-01-3102356991ns5:FurnitureFittings2025-01-3102356991ns5:LandBuildings2024-01-3102356991ns5:PlantMachinery2024-01-3102356991ns5:FurnitureFittings2024-01-3102356991ns5:MotorVehicles2024-01-3102356991ns5:ComputerEquipment2024-01-3102356991ns5:MotorVehicles2024-02-012025-01-3102356991ns5:ComputerEquipment2024-02-012025-01-3102356991ns5:MotorVehicles2025-01-3102356991ns5:ComputerEquipment2025-01-3102356991ns5:MotorVehicles2024-01-3102356991ns5:ComputerEquipment2024-01-3102356991ns5:CostValuation2024-01-3102356991ns5:WithinOneYearns5:CurrentFinancialInstruments2025-01-3102356991ns5:WithinOneYearns5:CurrentFinancialInstruments2024-01-31
REGISTERED NUMBER: 02356991 (England and Wales)






















Unaudited Financial Statements for the Year Ended 31st January 2025

for

P J Farms Limited

P J Farms Limited (Registered number: 02356991)






Contents of the Financial Statements
for the year ended 31st January 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P J Farms Limited

Company Information
for the year ended 31st January 2025







DIRECTORS: Mr R D Gladwin
Mrs B R Gladwin
Mr W D Gladwin





SECRETARY: Mr R D Gladwin





REGISTERED OFFICE: Hole in the Wall Farm
Padgetts Road
Christchurch
Wisbech
Cambridgeshire
PE14 9PN





REGISTERED NUMBER: 02356991 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

P J Farms Limited (Registered number: 02356991)

Balance Sheet
31st January 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,184,678 2,964,047
Investments 5 50 50
3,184,728 2,964,097

CURRENT ASSETS
Stocks 258,621 253,124
Debtors 6 81,584 103,144
Cash at bank 40,098 102,068
380,303 458,336
CREDITORS
Amounts falling due within one year 7 276,853 303,827
NET CURRENT ASSETS 103,450 154,509
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,288,178

3,118,606

CREDITORS
Amounts falling due after more than one
year

8

(368,313

)

(237,975

)

PROVISIONS FOR LIABILITIES (305,722 ) (257,918 )
NET ASSETS 2,614,143 2,622,713

CAPITAL AND RESERVES
Called up share capital 1,500 1,500
Retained earnings 2,612,643 2,621,213
SHAREHOLDERS' FUNDS 2,614,143 2,622,713

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2025 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.

P J Farms Limited (Registered number: 02356991)

Balance Sheet - continued
31st January 2025


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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th May 2025 and were signed on its behalf by:





Mr R D Gladwin - Director


P J Farms Limited (Registered number: 02356991)

Notes to the Financial Statements
for the year ended 31st January 2025

1. STATUTORY INFORMATION

P J 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.

Intangible assets
Basic Payment Scheme entitlements are initially recognised at cost and are amortised on a straight line basis over their expected useful life. At the reporting date, the entitlements had been fully amortised. The Basic Payment Scheme commenced in 2015 and ceased in 2020.

Entitlements acquired via the ownership of existing land, and therefore have no cost, have been revalued to fair value on the transition to FRS and amortised over their expected useful life, in accordance with the above period of benefit expected from the Basic Payment Scheme.

Provision is made for any impairment.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation
Depreciation of fixed assets is charged by annual instalments commencing with the year of acquisition at rates estimated to write off their cost less any residual value over the expected useful lives.

The annual rates used are as follows:

Freehold propertyNil
Plant and machinery20% on cost
Tractors15% on cost
Motor vehicles20% on cost
Computer equipment25% on cost

There is no charge in the year in respect of freehold land and buildings since the directors consider that the residual value is in excess of the net book value. In accordance with FRS 102 section 27, the freehold property is reviewed for impairment at the end of each reporting period.

P J Farms Limited (Registered number: 02356991)

Notes to the Financial Statements - continued
for the year ended 31st January 2025

2. ACCOUNTING POLICIES - continued

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Stocks, including biological assets, are stated at the lower of cost and net realisable value. Cost is determined using the first-in, first-out (FIFO) method and represents costs incurred to date to bring growing crops and finished produce to its current state. Net realisable value is the estimated selling price in the ordinary course of business, less applicable variable selling expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 5 ) .

P J Farms Limited (Registered number: 02356991)

Notes to the Financial Statements - continued
for the year ended 31st January 2025

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Tractors
£    £    £   
COST
At 1st February 2024 2,150,080 531,467 989,236
Additions - 45,798 365,000
Disposals - (783 ) (114,951 )
At 31st January 2025 2,150,080 576,482 1,239,285
DEPRECIATION
At 1st February 2024 - 356,197 423,904
Charge for year - 36,169 101,111
Eliminated on disposal - (783 ) (74,044 )
At 31st January 2025 - 391,583 450,971
NET BOOK VALUE
At 31st January 2025 2,150,080 184,899 788,314
At 31st January 2024 2,150,080 175,270 565,332

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st February 2024 88,603 2,694 3,762,080
Additions - - 410,798
Disposals - - (115,734 )
At 31st January 2025 88,603 2,694 4,057,144
DEPRECIATION
At 1st February 2024 15,838 2,094 798,033
Charge for year 11,742 238 149,260
Eliminated on disposal - - (74,827 )
At 31st January 2025 27,580 2,332 872,466
NET BOOK VALUE
At 31st January 2025 61,023 362 3,184,678
At 31st January 2024 72,765 600 2,964,047

P J Farms Limited (Registered number: 02356991)

Notes to the Financial Statements - continued
for the year ended 31st January 2025

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st February 2024
and 31st January 2025 50
NET BOOK VALUE
At 31st January 2025 50
At 31st January 2024 50

The investment of £50 represents fifty ordinary shares of £1 in Anglia Farmers Limited

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 14,752 57,832
Other debtors 66,832 45,312
81,584 103,144

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 28,171 26,571
Hire purchase contracts 51,956 42,694
Trade creditors 114,549 126,053
Taxation and social security 9,219 38,773
Other creditors 72,958 69,736
276,853 303,827

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Bank loans 209,829 237,975
Hire purchase contracts 158,484 -
368,313 237,975

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 143,291 143,257

9. ULTIMATE CONTROLLING PARTY

Mr R D Gladwin controlled the company throughout the year by virtue of his majority share holding.