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Company No: 03790620 (England and Wales)

PETER CROSSWELL AGRICULTURAL LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

PETER CROSSWELL AGRICULTURAL LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

PETER CROSSWELL AGRICULTURAL LIMITED

BALANCE SHEET

As at 31 March 2025
PETER CROSSWELL AGRICULTURAL LIMITED

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 3,027,831 4,437,015
Investments 4 17 17
3,027,848 4,437,032
Current assets
Stocks 5 238,348 810,220
Debtors 6 2,240,503 1,569,079
Cash at bank and in hand 3,447,525 826,937
5,926,376 3,206,236
Creditors: amounts falling due within one year 7 ( 913,353) ( 517,123)
Net current assets 5,013,023 2,689,113
Total assets less current liabilities 8,040,871 7,126,145
Provision for liabilities ( 89,824) ( 272,121)
Net assets 7,951,047 6,854,024
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 7,950,947 6,853,924
Total shareholder's funds 7,951,047 6,854,024

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Peter Crosswell Agricultural Limited (registered number: 03790620) were approved and authorised for issue by the Board of Directors on 26 June 2025. They were signed on its behalf by:

P Crosswell
Director
L E Crosswell
Director
PETER CROSSWELL AGRICULTURAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
PETER CROSSWELL AGRICULTURAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Peter Crosswell Agricultural Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Vicarage Farm, Woodmancott, Winchester, SO21 3BL, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 15 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. At each reporting date, stocks are assessed for impairment. If stocks are 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. No element of profit is included in the valuation of stock

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayments.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 10

3. Tangible assets

Land and buildings Plant and machinery Total
£ £ £
Cost
At 01 April 2024 2,696,279 3,948,419 6,644,698
Additions 0 295,545 295,545
Disposals 0 ( 3,542,761) ( 3,542,761)
At 31 March 2025 2,696,279 701,203 3,397,482
Accumulated depreciation
At 01 April 2024 0 2,207,683 2,207,683
Charge for the financial year 0 80,892 80,892
Disposals 0 ( 1,918,924) ( 1,918,924)
At 31 March 2025 0 369,651 369,651
Net book value
At 31 March 2025 2,696,279 331,552 3,027,831
At 31 March 2024 2,696,279 1,740,736 4,437,015

4. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 April 2024 17 17
At 31 March 2025 17 17
Carrying value at 31 March 2025 17 17
Carrying value at 31 March 2024 17 17

5. Stocks

2025 2024
£ £
Stocks 1,950 288,800
Work in progress 0 68,600
Finished goods 236,398 452,820
238,348 810,220

6. Debtors

2025 2024
£ £
Trade debtors 107,484 194,775
Amounts owed by directors 1,585,047 1,196,326
Prepayments 10,864 177,978
VAT recoverable 2,155 0
Other debtors 534,953 0
2,240,503 1,569,079

7. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 4,639 95,028
Accruals 5,823 4,000
Corporation tax 894,524 212,966
Other taxation and social security 8,367 2,629
Obligations under finance leases and hire purchase contracts 0 202,500
913,353 517,123

8. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's directors

2025 2024
£ £
Balance brought forward 1,196,325 (151,285)
Advanced 413,891 1,385,062
Repaid (58,000) (50,000)
Interest transactions 32,830 12,548
At end of period 1,585,046 1,196,325

Advances

A loan was advanced to the directors in September 2023. At the beginning of the period, the balance brought forward on the loan was £1,196,325. A further £413,891 was advanced in year. The total amount advanced to the directors is £1,610,217 (at interest rate of 2.25%). £58,000 has been repaid, £0 has been written off, and £0 has been waived. The directors currently anticipate that a significant part of the loan will be repaid within one year.