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NEW HOUSE FARM (LORTON) LIMITED

Registered Number
07561029
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2025

NEW HOUSE FARM (LORTON) LIMITED
Company Information
for the year from 1 April 2024 to 31 March 2025

Directors

THOMPSON, Hazel Ann
THOMPSON, Joshua James Grant
THOMPSON, Oliver

Company Secretary

THOMPSON, Joshua James Grant

Registered Address

New House Farm
Lorton
Cockermouth
CA13 9UU

Registered Number

07561029 (England and Wales)
NEW HOUSE FARM (LORTON) LIMITED
Statement of Financial Position
31 March 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets4756,399735,221
756,399735,221
Current assets
Stocks4,2005,250
Debtors5,61,66816,192
5,86821,442
Creditors amounts falling due within one year7(424,524)(355,645)
Net current assets (liabilities)(418,656)(334,203)
Total assets less current liabilities337,743401,018
Creditors amounts falling due after one year8(211,471)(219,899)
Provisions for liabilities9(26,800)(31,100)
Net assets99,472150,019
Capital and reserves
Called up share capital11
Profit and loss account99,471150,018
Shareholders' funds99,472150,019
The financial statements were approved and authorised for issue by the Board of Directors on 24 July 2025, and are signed on its behalf by:
THOMPSON, Hazel Ann
Director
Registered Company No. 07561029
NEW HOUSE FARM (LORTON) LIMITED
Notes to the Financial Statements
for the year ended 31 March 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-20
Plant and machinery15-
Vehicles25-
Office Equipment-4
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20252024
Average number of employees during the year1413
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 2411,00011,000
At 31 March 2511,00011,000
Amortisation and impairment
At 01 April 2411,00011,000
At 31 March 2511,00011,000
Net book value
At 31 March 25--
At 31 March 24--
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 April 24670,646279,979--950,625
Additions30,0614,42540,9951,58877,069
At 31 March 25700,707284,40440,9951,5881,027,694
Depreciation and impairment
At 01 April 2461,796153,608--215,404
Charge for year35,55919,3798549955,891
At 31 March 2597,355172,98785499271,295
Net book value
At 31 March 25603,352111,41740,1411,489756,399
At 31 March 24608,850126,371--735,221
5.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables-2,885
Other debtors-11,151
Prepayments and accrued income714725
Total71414,761
6.Debtors: amounts due after one year

2025

2024

££
Prepayments and accrued income9541,431
Total9541,431
7.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables9,6532,675
Bank borrowings and overdrafts14,76240,089
Taxation and social security10,04611,489
Finance lease and HP contracts40,995-
Other creditors49,185107,319
Accrued liabilities and deferred income299,883194,073
Total424,524355,645
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Bank borrowings are secured on the personal assets of the director.
8.Creditors: amounts due after one year

2025

2024

££
Bank borrowings and overdrafts26,72031,566
Other creditors184,751188,333
Total211,471219,899
Bank borrowings are secured on the personal assets of the director.
9.Provisions for liabilities
The provision for deferred tax arises from accelerated capital allowances.

2025

2024

££
Net deferred tax liability (asset)26,80031,100
Total26,80031,100
10.Related party transactions
During the year a director had a loan account with the company. At the balance sheet date the company owed the director £49,995 (2024 - £149,887). The loan is unsecured, interest free and repayable on demand. During the year, a director rented the building located at New House Farm, Lorton, Cockermouth, Cumberland, CA13 9UU to the business. The annual rent charged is £75,000. All amounts were paid during the year.