Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-312025-03-312024-04-01truefalse22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07049253 2024-04-01 2025-03-31 07049253 2023-04-01 2024-03-31 07049253 2025-03-31 07049253 2024-03-31 07049253 c:Director1 2024-04-01 2025-03-31 07049253 c:Director3 2024-04-01 2025-03-31 07049253 d:Buildings 2024-04-01 2025-03-31 07049253 d:Buildings 2025-03-31 07049253 d:Buildings 2024-03-31 07049253 d:Buildings d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 07049253 d:PlantMachinery 2024-04-01 2025-03-31 07049253 d:PlantMachinery 2025-03-31 07049253 d:PlantMachinery 2024-03-31 07049253 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 07049253 d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 07049253 d:CurrentFinancialInstruments 2025-03-31 07049253 d:CurrentFinancialInstruments 2024-03-31 07049253 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 07049253 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07049253 d:ShareCapital 2025-03-31 07049253 d:ShareCapital 2024-03-31 07049253 d:RetainedEarningsAccumulatedLosses 2025-03-31 07049253 d:RetainedEarningsAccumulatedLosses 2024-03-31 07049253 c:FRS102 2024-04-01 2025-03-31 07049253 c:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 07049253 c:FullAccounts 2024-04-01 2025-03-31 07049253 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 07049253 2 2024-04-01 2025-03-31 07049253 e:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure
                                                                                                                  Registered number: 07049253














NAR VALLEY FARMS LIMITED


UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

 
NAR VALLEY FARMS LIMITED
REGISTERED NUMBER:07049253

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
742,434
447,951

  
742,434
447,951

Current assets
  

Stocks
  
2,500
2,500

Debtors: amounts falling due within one year
 5 
132,196
91,447

Current asset investments
 6 
734,207
760,339

Cash at bank and in hand
  
478,415
722,692

  
1,347,318
1,576,978

Creditors: amounts falling due within one year
 7 
(62,333)
(72,038)

Net current assets
  
 
 
1,284,985
 
 
1,504,940

Total assets less current liabilities
  
2,027,419
1,952,891

Provisions for liabilities
  

Deferred tax
  
(46,139)
(61,885)

  
 
 
(46,139)
 
 
(61,885)

Net assets
  
1,981,280
1,891,006


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,981,180
1,890,906

  
1,981,280
1,891,006


Page 1

 
NAR VALLEY FARMS LIMITED
REGISTERED NUMBER:07049253
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
P W G Ellis
................................................
S Ellis
Director
Director


Date: 30 June 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
NAR VALLEY FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Nar Valley Farms Limited is a company limited by shares incorporated in England & Wales, registered number 07049253. The address of the registered office is Summerhill House, 1 Sculthorpe Road, Fakenham, Norfolk, NR21 9HA..

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting polcies applied in the preparation of these financial statements are set out below. The policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
NAR VALLEY FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
NAR VALLEY FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as detailed below.

Depreciation is provided on the following basis:

Freehold property
-
25 year straight line (pig houses 20 year straight line). Land not depreciated
Plant & machinery
-
5 year straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
NAR VALLEY FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

Page 6

 
NAR VALLEY FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Tangible fixed assets





Freehold property
Plant & machinery
Total

£
£
£



Cost or valuation


At 1 April 2024
480,281
948,751
1,429,032


Additions
352,761
59,350
412,111


Disposals
-
(48,235)
(48,235)



At 31 March 2025

833,042
959,866
1,792,908



Depreciation


At 1 April 2024
228,796
752,285
981,081


Charge for the year on owned assets
21,894
76,440
98,334


Disposals
-
(28,941)
(28,941)



At 31 March 2025

250,690
799,784
1,050,474



Net book value



At 31 March 2025
582,352
160,082
742,434



At 31 March 2024
251,485
196,466
447,951


5.


Debtors

2025
2024
£
£


Trade debtors
32,199
28,488

Amounts owed by joint ventures and associated undertakings
49,787
-

Other debtors
37,382
40,424

Prepayments and accrued income
950
9,879

Tax recoverable
11,878
12,656

132,196
91,447


Page 7

 
NAR VALLEY FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

6.


Current asset investments

2025
2024
£
£

Listed investments
734,207
760,339

734,207
760,339



7.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
838
12,997

Amounts owed to other participating interests
-
2,048

Corporation tax
54,870
54,743

Other taxation and social security
4,275
-

Accruals and deferred income
2,350
2,250

62,333
72,038



8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £115,000 (2024 - £100,000).

 
Page 8