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REGISTERED NUMBER: 00495404 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 May 2025

for

Caudwell Farms

Caudwell Farms (Registered number: 00495404)

Contents of the Financial Statements
for the Year Ended 31 May 2025










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 8


Caudwell Farms

Company Information
for the Year Ended 31 May 2025







Directors: A G Hay
F W Hay
Mrs L N Hay





Secretary: Mrs L N Hay





Registered office: The Estate Office
Hartley House
Holbeach St Matthews
Spalding
Lincolnshire
PE12 8EW





Registered number: 00495404 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Caudwell Farms


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Caudwell Farms for the year ended 31 May 2025 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Caudwell Farms, as a body, in accordance with the terms of our engagement letter dated 21 October 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Caudwell Farms and state those matters that we have agreed to state to the Board of Directors of Caudwell Farms, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Caudwell Farms and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Caudwell Farms has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Caudwell Farms. You consider that Caudwell Farms is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Caudwell Farms. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


30 July 2025

Caudwell Farms (Registered number: 00495404)

Statement of Financial Position
31 May 2025

2025 2024
Notes £    £    £    £   
Fixed assets
Tangible assets 5 7,012,838 7,172,458
Investments 6 105,774 116,774
7,118,612 7,289,232

Current assets
Stocks 1,615,529 1,458,367
Debtors 7 817,813 1,524,095
Cash at bank and in hand 259 247
2,433,601 2,982,709
Creditors
Amounts falling due within one year 8 1,477,434 2,012,742
Net current assets 956,167 969,967
Total assets less current liabilities 8,074,779 8,259,199

Creditors
Amounts falling due after more than one
year

9

(5,418,108

)

(5,546,767

)

Provisions for liabilities (220,393 ) (257,921 )
Net assets 2,436,278 2,454,511

Capital and reserves
Called up share capital 10 100,000 100,000
Retained earnings 2,336,278 2,354,511
Shareholders' funds 2,436,278 2,454,511

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

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

Caudwell Farms (Registered number: 00495404)

Statement of Financial Position - continued
31 May 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2025 and were signed on its behalf by:





A G Hay - Director


Caudwell Farms (Registered number: 00495404)

Notes to the Financial Statements
for the Year Ended 31 May 2025


1. Statutory information

Caudwell Farms is a private company , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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 the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold land - not depreciated
Storage buildings - 4% on cost
Leasehold property - straight line over period of lease
Reservoir - 4% on cost
Plant and machinery - 15% on written down value
Motor vehicles - 25% on written down value
Tractors and harvesters:
Owned and hire purchase - 20% on written down value
Leased - 25% on cost
Renewables - 10% on cost
Storage boxes - 3 years straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Caudwell Farms (Registered number: 00495404)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2025


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Farm support income
De-linked farm support income accrues evenly up to 31 December in each claim year in the financial statements.

4. Employees and directors

The average number of employees during the year was 8 (2024 - 7 ) .

5. Tangible fixed assets
Freehold Long Plant and Storage
property leasehold machinery buildings Totals
£    £    £    £    £   
Cost
At 1 June 2024 6,245,252 225,981 2,703,777 587,293 9,762,303
Additions 12,360 - 21,598 - 33,958
At 31 May 2025 6,257,612 225,981 2,725,375 587,293 9,796,261
Depreciation
At 1 June 2024 125,500 176,704 1,745,697 541,944 2,589,845
Charge for year 11,974 6,779 165,651 9,174 193,578
At 31 May 2025 137,474 183,483 1,911,348 551,118 2,783,423
Net book value
At 31 May 2025 6,120,138 42,498 814,027 36,175 7,012,838
At 31 May 2024 6,119,752 49,277 958,080 45,349 7,172,458

Caudwell Farms (Registered number: 00495404)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2025


6. Fixed asset investments
Other
investments
£   
Cost
At 1 June 2024 116,774
Disposals (11,000 )
At 31 May 2025 105,774
Net book value
At 31 May 2025 105,774
At 31 May 2024 116,774

7. Debtors: amounts falling due within one year
2025 2024
£    £   
Trade debtors 662,429 1,331,196
VAT 7,046 15,012
Prepayments and accrued income 148,338 177,887
817,813 1,524,095

8. Creditors: amounts falling due within one year
2025 2024
£    £   
Bank loans and overdrafts 70,204 229,369
Trade creditors 304,914 587,873
Amounts owed to group undertakings 752,763 2,756
Tax 48,794 87,505
Social security and other taxes 13,362 15,664
Other creditors - 413,391
Hire purchase liabilities 78,154 78,154
Directors' current accounts 108,011 471,620
Accruals and deferred income 101,232 126,410
1,477,434 2,012,742

The bank loans are secured by a legal charge over certain freehold land owned by the company and obligations under hire purchase contracts are secured by the asset it is financing.

9. Creditors: amounts falling due after more than one year
2025 2024
£    £   
Bank loans 5,418,108 5,468,613
Hire purchase liabilities - 78,154
5,418,108 5,546,767

The bank loans are secured by a legal charge over certain freehold land owned by the company and obligations under hire purchase contracts are secured by the asset it is financing.

Caudwell Farms (Registered number: 00495404)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2025


10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
100,000 Ordinary shares £1 100,000 100,000

11. Ultimate controlling party

The parent company and ultimate holding company is George Hay Company Limited, a company registered in England and Wales.