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REGISTERED NUMBER: 09027248 (England and Wales)















INGLEBOROUGH FARMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025






INGLEBOROUGH FARMS LIMITED (REGISTERED NUMBER: 09027248)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


INGLEBOROUGH FARMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2025







DIRECTORS: W L Roughton
Ms I Marston





REGISTERED OFFICE: Ingleborough House
Main Road
Friskney
Boston
Lincolnshire
PE22 8SE





REGISTERED NUMBER: 09027248 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR

INGLEBOROUGH FARMS LIMITED (REGISTERED NUMBER: 09027248)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 310,000 310,000
Tangible assets 5 1,646,597 2,269,357
Investment property 6 150,000 150,000
2,106,597 2,729,357

CURRENT ASSETS
Valuation 1,185 1,185
Debtors 7 494,259 803,886
Cash at bank 32,644 22,226
528,088 827,297
CREDITORS
Amounts falling due within one year 8 85,345 331,753
NET CURRENT ASSETS 442,743 495,544
TOTAL ASSETS LESS CURRENT LIABILITIES 2,549,340 3,224,901

CREDITORS
Amounts falling due after more than one year 9 (54,023 ) (715,603 )

PROVISIONS FOR LIABILITIES (11,065 ) -
NET ASSETS 2,484,252 2,509,298

CAPITAL AND RESERVES
Called up share capital 11 48,582 48,582
Share premium 2,220,729 2,220,729
Retained earnings 214,941 239,987
SHAREHOLDERS' FUNDS 2,484,252 2,509,298

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

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

INGLEBOROUGH FARMS LIMITED (REGISTERED NUMBER: 09027248)

STATEMENT OF FINANCIAL POSITION - continued
31 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 June 2025 and were signed on its behalf by:





W L Roughton - Director


INGLEBOROUGH FARMS LIMITED (REGISTERED NUMBER: 09027248)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1. STATUTORY INFORMATION

Ingleborough 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of produce, excluding valued added tax, and includes the Single Farm Payment and environmental subsidies.

Sales of produce are recognised upon despatch.

The Basic Farm Payment is recognised in the financial statements in accordance with current H.M.Revenue & Customs guidance.

Tenancies
Tenancies are recorded at the directors valuation on the group reconstruction and not amortised.

Basic payment scheme entitlements
Intangible assets consist of entitlements to the basic payment. The entitlements are recognised at fair value and written off on a straight line basis over the period to 31 December 2019 when the scheme ends.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Nil
Plant and machinery etc - 33% on cost, 25% on reducing balance, 15% on reducing balance, 10% on cost, 5% on cost and Straight line over 25 years

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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

INGLEBOROUGH FARMS LIMITED (REGISTERED NUMBER: 09027248)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Basic
Farm
Payment
Tenancies Entitlement Totals
£    £    £   
COST OR VALUATION
At 1 February 2024 310,000 46,410 356,410
Disposals - (46,410 ) (46,410 )
At 31 January 2025 310,000 - 310,000
AMORTISATION
At 1 February 2024 - 46,410 46,410
Eliminated on disposal - (46,410 ) (46,410 )
At 31 January 2025 - - -
NET BOOK VALUE
At 31 January 2025 310,000 - 310,000
At 31 January 2024 310,000 - 310,000

Cost or valuation at 31 January 2025 is represented by:

Tenancies
£   
Valuation in 2019 (122,415 )
Cost 432,415
310,000

INGLEBOROUGH FARMS LIMITED (REGISTERED NUMBER: 09027248)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2024 2,162,620 282,847 2,445,467
Additions 4,400 700 5,100
Disposals (611,721 ) (4,472 ) (616,193 )
At 31 January 2025 1,555,299 279,075 1,834,374
DEPRECIATION
At 1 February 2024 - 176,110 176,110
Charge for year - 15,190 15,190
Eliminated on disposal - (3,523 ) (3,523 )
At 31 January 2025 - 187,777 187,777
NET BOOK VALUE
At 31 January 2025 1,555,299 91,298 1,646,597
At 31 January 2024 2,162,620 106,737 2,269,357

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2024
and 31 January 2025 150,000
NET BOOK VALUE
At 31 January 2025 150,000
At 31 January 2024 150,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 27,593 302,003
Other debtors 466,666 501,883
494,259 803,886

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 1,609 4,042
Trade creditors 15,648 284,862
Taxation and social security 34,313 690
Other creditors 33,775 42,159
85,345 331,753

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans 54,023 715,603

INGLEBOROUGH FARMS LIMITED (REGISTERED NUMBER: 09027248)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2025 2024
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans due in more than 5 years by
instalments

51,848

695,649

10. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Bank loans 55,632 719,645

The Agricultural Mortgage Corporation PLC have a fixed and floating charge over the assets of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
48,582 Ordinary £1 48,582 48,582