Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Intangible assets | 3 |
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| Tangible assets | 4 |
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| Biological assets | 5 | 1,372,825 | 1,189,150 | |
| Investments | 6 |
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| 4,081,195 | 3,400,737 | |||
| Current assets | ||||
| Stocks |
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| Debtors | 7 |
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| 1,227,495 | 1,064,094 | |||
| Creditors: amounts falling due within one year | 8 | (
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| Net current liabilities | (2,920,978) | (3,195,633) | ||
| Total assets less current liabilities | 1,160,217 | 205,104 | ||
| Creditors: amounts falling due after more than one year | 9 | (
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| Provision for liabilities | (
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| Net assets/(liabilities) |
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| Capital and reserves | ||||
| Called-up share capital | 10 |
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| Profit and loss account |
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| Total shareholder's funds/(deficit) |
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Directors' responsibilities:
The financial statements of Cholmondeley Farms Limited (registered number:
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Robert Miller
Director |
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.
Cholmondeley Farms 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 The Estate Office Cholmondeley, Nr Malpas, Cheshire, SY14 8EZ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of Cholmondeley Farms Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
These financial statements are separate financial statements.
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 enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.
| Entitlements | not amortised |
| Leasehold improvements |
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| Plant and machinery | 5 -
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| Vehicles |
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| Other property, plant and equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Fixed asset investments are measured at cost less accumulated impairment.
Cattle - 60% of market value
Deer - 60% of market value
Ewes and rams - 75% of market value
Crops in store - 75% of market value.
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.
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and are depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the statement of income and retained earnings.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Entitlements | Total | ||
| £ | £ | ||
| Cost | |||
| At 01 April 2024 |
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| Revaluation deficit | (
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| At 31 March 2025 |
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| Accumulated amortisation | |||
| At 01 April 2024 |
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| At 31 March 2025 |
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| Net book value | |||
| At 31 March 2025 |
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| At 31 March 2024 |
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| Leasehold improve- ments |
Plant and machinery | Vehicles | Other property, plant and equipment |
Total | |||||
| £ | £ | £ | £ | £ | |||||
| Cost | |||||||||
| At 01 April 2024 |
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| Additions |
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| Disposals |
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| At 31 March 2025 |
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| Accumulated depreciation | |||||||||
| At 01 April 2024 |
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| Charge for the financial year |
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| Disposals |
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| At 31 March 2025 |
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| Net book value | |||||||||
| At 31 March 2025 | 1,220,456 | 1,027,430 | 144,456 | 223,243 | 2,615,585 | ||||
| At 31 March 2024 | 1,108,575 | 619,386 | 152,255 | 153,350 | 2,033,566 |
| 2025 | |
| £ | |
| Biological assets at fair value |
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Assets held at fair value:
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Total | ||
| £ | £ | ||
| Valuation | |||
| At 01 April 2024 |
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| Increase due to purchases/ transfers in |
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| Decrease attributable to sales/ transfers out | (
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| Changes in FV less estimate costs to sell |
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| Fair value at 31 March 2025 |
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| Other investments | Total | ||
| £ | £ | ||
| Cost or valuation before impairment | |||
| At 01 April 2024 |
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| At 31 March 2025 |
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| Carrying value at 31 March 2025 |
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| Carrying value at 31 March 2024 |
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| 2025 | 2024 | ||
| £ | £ | ||
| Trade debtors |
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| Prepayments |
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| VAT recoverable |
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| Other debtors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Bank overdrafts |
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| Trade creditors |
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| Accruals |
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| Obligations under finance leases and hire purchase contracts |
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| Other creditors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Obligations under finance leases and hire purchase contracts |
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| Other creditors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Other creditors includes £360,916 (2024: £1,458,953) owed to one of the directors at the year end. Amounts due are unsecured and interest free.