Year Ended
Registration number:
CP Farming Ltd
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
CP Farming Ltd
Company Information
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Director |
Mr T H Povlsen |
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Registered office |
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Auditors |
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CP Farming Ltd
Balance Sheet
31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
- |
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Tangible assets |
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Investment property |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
10,250,000 |
10,250,000 |
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Share premium reserve |
10,250,000 |
10,250,000 |
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Profit and loss account |
(1,082,986) |
(1,019,049) |
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Shareholders' funds |
19,417,014 |
19,480,951 |
Included within profit and loss reserves are non-distributable reserves of £673,572 (2023 - £542,406).
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 11915066
CP Farming Ltd
Notes to the Financial Statements
Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Lowesmoor Farm
Lowesmoor
Cherington
Tetbury
GL8 8SP
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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 Section 1A, and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are presented in Sterling, rounded to the nearest whole pound.
Going concern
The director has reviewed the level of core overheads of the business, to determine if there is sufficient working capital to meet these requirements. The parent company has confirmed its intention to provide continuing financial support to CP Farming Ltd, so the company is able to continue to meet its liabilities as they fall due. On this basis the director adopts the going concern basis of presentation.
CP Farming Ltd
Notes to the Financial Statements
Year Ended 31 December 2024
Revenue recognition
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, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Farming and residential buildings |
2% straight line basis |
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Plant and machinery |
20% reducing balance basis |
Investment property
Fair value movements on investment properties are recognised in the profit and loss account under the heading Other operating income.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Entitlements |
20% straight line basis |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of stock comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
CP Farming Ltd
Notes to the Financial Statements
Year Ended 31 December 2024
Financial instruments
Classification
• Short intercompany and other debtors and creditors; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Other operating income |
The analysis of the company's other operating income for the year is as follows:
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2024 |
2023 |
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Sublease rental income |
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15,237 |
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Miscellaneous other operating income |
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13,393 |
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Fair value movement on investment property |
131,166 |
50,613 |
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137,187 |
79,243 |
CP Farming Ltd
Notes to the Financial Statements
Year Ended 31 December 2024
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Intangible assets |
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Entitlements |
Total |
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Cost or valuation |
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At 1 January 2024 |
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At 31 December 2024 |
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Amortisation |
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At 1 January 2024 |
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Amortisation charge |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
- |
- |
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At 31 December 2023 |
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Tangible assets |
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Land and buildings |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 January 2024 |
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Additions |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Included within the net book value of land and buildings above is £19,089,210 (2023 - £19,089,748) in respect of freehold land and buildings and £1,257,090 (2023 - £1,207,353) in respect of long leasehold land and buildings.
CP Farming Ltd
Notes to the Financial Statements
Year Ended 31 December 2024
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Investment properties |
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2024 |
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At 1 January |
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Fair value adjustments |
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At 31 December |
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Valuation has been made on an open market basis.
The valuation has been made by the Director during the year.
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Stocks |
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2024 |
2023 |
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Other inventories |
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Debtors |
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2024 |
2023 |
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Trade debtors |
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Prepayments and accrued income |
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Other debtors |
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CP Farming Ltd
Notes to the Financial Statements
Year Ended 31 December 2024
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Amounts due to group undertakings |
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Accruals and deferred income |
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Other creditors |
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- |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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10,250,000 |
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10,250,000 |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
CP Farming Ltd
Notes to the Financial Statements
Year Ended 31 December 2024
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Related party transactions |
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Transactions with the director |
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2024 |
At 1 January 2024 |
Advances to director |
Repayments by director |
At 31 December 2024 |
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Mr T H Povlsen |
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Loan |
- |
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( |
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Other transactions with the director |
During the year, £184,785 was paid to the director for the rent of land.
Summary of transactions with parent
Summary of transactions with other related parties
Loans from related parties
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2024 |
Parent |
Other related parties |
Total |
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At start of period |
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Advanced |
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Interest transactions |
- |
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Repaid |
( |
- |
( |
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At end of period |
- |
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2023 |
Parent |
Other related parties |
Total |
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At start of period |
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Advanced |
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Repaid |
( |
- |
( |
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Interest transactions |
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Impairment |
( |
( |
( |
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At end of period |
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Terms of loans from related parties
CP Farming Ltd
Notes to the Financial Statements
Year Ended 31 December 2024
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Parent and ultimate parent undertaking |
The company's immediate parent is
The most senior parent entity producing publicly available financial statements is
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Audit report |