Company registration number 06963805 (England and Wales)
TUGHALL GRANGE FARM LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
TUGHALL GRANGE FARM LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
TUGHALL GRANGE FARM LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
858,839
917,009
Current assets
Stocks
117,900
120,360
Debtors
4
40,688
266,605
Cash at bank and in hand
230,920
15,576
389,508
402,541
Creditors: amounts falling due within one year
5
(82,266)
(230,838)
Net current assets
307,242
171,703
Net assets
1,166,081
1,088,712
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,165,981
1,088,612
Total equity
1,166,081
1,088,712

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 18 August 2025 and are signed on its behalf by:
Mr M A Jordon
Director
Company registration number 06963805 (England and Wales)
TUGHALL GRANGE FARM LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2023
100
657,921
658,021
Year ended 31 March 2024:
Profit and total comprehensive income
-
472,691
472,691
Dividends
-
(42,000)
(42,000)
Balance at 31 March 2024
100
1,088,612
1,088,712
Year ended 31 March 2025:
Profit and total comprehensive income
-
77,369
77,369
Balance at 31 March 2025
100
1,165,981
1,166,081
TUGHALL GRANGE FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Tughall Grange Farm Limited is a private company limited by shares incorporated in England and Wales. The registered office is Tughall Grange Farm, Chathill, Alnwick, Northumberland, NE67 5EN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Agricultural buildings
No depreciation
Plant and equipment
15% reducing balance
Fixtures and fittings
10% reducing balance
Motor vehicles
15% reducing balance

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.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost 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.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

TUGHALL GRANGE FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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. Amounts 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.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

TUGHALL GRANGE FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
3
Tangible fixed assets
Agricultural buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2024
541,830
598,981
5,718
63,500
1,210,029
Additions
-
0
5,833
-
0
-
0
5,833
Disposals
(7,065)
-
0
-
0
-
0
(7,065)
At 31 March 2025
534,765
604,814
5,718
63,500
1,208,797
Depreciation and impairment
At 1 April 2024
-
0
274,665
1,563
16,792
293,020
Depreciation charged in the year
-
0
49,517
415
7,006
56,938
At 31 March 2025
-
0
324,182
1,978
23,798
349,958
Carrying amount
At 31 March 2025
534,765
280,632
3,740
39,702
858,839
At 31 March 2024
541,830
324,316
4,155
46,708
917,009
TUGHALL GRANGE FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,742
2
Corporation tax recoverable
-
0
47,068
Other debtors
38,946
219,535
40,688
266,605
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
11,149
42,600
Corporation tax
38,081
180,786
Other taxation and social security
-
0
1,117
Other creditors
33,036
6,335
82,266
230,838
6
Directors' transactions

Dividends totalling £0 (2024 - £42,000) were paid in the year in respect of shares held by the company's directors.

2025-03-312024-04-01falsefalsefalse18 August 2025CCH SoftwareCCH Accounts Production 2025.200No description of principal activityMr M A JordonMrs S M JordonMrs S M Jordon069638052024-04-012025-03-31069638052025-03-31069638052024-03-3106963805core:LandBuildingscore:OwnedOrFreeholdAssets2025-03-3106963805core:PlantMachinery2025-03-3106963805core:FurnitureFittings2025-03-3106963805core:MotorVehicles2025-03-3106963805core:LandBuildingscore:OwnedOrFreeholdAssets2024-03-3106963805core:PlantMachinery2024-03-3106963805core:FurnitureFittings2024-03-3106963805core:MotorVehicles2024-03-3106963805core:CurrentFinancialInstrumentscore:WithinOneYear2025-03-3106963805core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3106963805core:ShareCapital2025-03-3106963805core:ShareCapital2024-03-3106963805core:RetainedEarningsAccumulatedLosses2025-03-3106963805core:RetainedEarningsAccumulatedLosses2024-03-3106963805core:ShareCapital2023-03-3106963805core:RetainedEarningsAccumulatedLosses2023-03-3106963805bus:Director12024-04-012025-03-3106963805core:RetainedEarningsAccumulatedLosses2023-04-012024-03-31069638052023-04-012024-03-3106963805core:RetainedEarningsAccumulatedLosses2024-04-012025-03-3106963805core:LandBuildingscore:OwnedOrFreeholdAssets2024-04-012025-03-3106963805core:PlantMachinery2024-04-012025-03-3106963805core:FurnitureFittings2024-04-012025-03-3106963805core:MotorVehicles2024-04-012025-03-3106963805core:LandBuildingscore:OwnedOrFreeholdAssets2024-03-3106963805core:PlantMachinery2024-03-3106963805core:FurnitureFittings2024-03-3106963805core:MotorVehicles2024-03-31069638052024-03-3106963805core:CurrentFinancialInstruments2025-03-3106963805core:CurrentFinancialInstruments2024-03-3106963805core:WithinOneYear2025-03-3106963805core:WithinOneYear2024-03-3106963805bus:PrivateLimitedCompanyLtd2024-04-012025-03-3106963805bus:FRS1022024-04-012025-03-3106963805bus:AuditExemptWithAccountantsReport2024-04-012025-03-3106963805bus:Director22024-04-012025-03-3106963805bus:CompanySecretary12024-04-012025-03-3106963805bus:SmallCompaniesRegimeForAccounts2024-04-012025-03-3106963805bus:FullAccounts2024-04-012025-03-31xbrli:purexbrli:sharesiso4217:GBP