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Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Dungates Farms Limited

Dungates Farms Limited (Registered number: 01360773)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Dungates Farms Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: A N M Sanders
D A B Sanders
W V Thornton





SECRETARY: D A B Sanders





REGISTERED OFFICE: Buckland Estate Office
Lawrence Lane
Buckland
Surrey
RH3 7BE





REGISTERED NUMBER: 01360773 (England and Wales)





ACCOUNTANTS: Williams & Co Epsom LLP
Chartered Accountants
8-10 South Street
Epsom
Surrey
KT18 7PF

Dungates Farms Limited (Registered number: 01360773)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,380,176 1,308,519
Investment property 5 14,421,619 14,421,619
15,801,795 15,730,138

CURRENT ASSETS
Stocks 6 187,708 314,908
Debtors 7 6,568,139 6,511,819
Cash at bank and in hand 195,507 109,287
6,951,354 6,936,014
CREDITORS
Amounts falling due within one year 8 2,082,794 1,957,594
NET CURRENT ASSETS 4,868,560 4,978,420
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,670,355

20,708,558

CREDITORS
Amounts falling due after more than one year 9 (2,270,000 ) (2,330,000 )

PROVISIONS FOR LIABILITIES 12 (3,494,820 ) (3,494,820 )
NET ASSETS 14,905,535 14,883,738

CAPITAL AND RESERVES
Called up share capital 13 50,069 50,069
Fair value reserve 14 6,839,542 6,839,542
Capital redemption reserve 14 45,331 45,331
Retained earnings 14 7,970,593 7,948,796
SHAREHOLDERS' FUNDS 14,905,535 14,883,738

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

Dungates Farms Limited (Registered number: 01360773)

Balance Sheet - continued
31 December 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2025 and were signed on its behalf by:





D A B Sanders - Director


Dungates Farms Limited (Registered number: 01360773)

Notes to the Financial Statements
for the Year Ended 31 December 2024


1. STATUTORY INFORMATION

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 property - 10% on cost and not provided
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Dungates Farms Limited (Registered number: 01360773)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 33 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2024 1,125,597 295,641 14,037 6,850 1,442,125
Additions 59,666 41,124 7,115 - 107,905
At 31 December 2024 1,185,263 336,765 21,152 6,850 1,550,030
DEPRECIATION
At 1 January 2024 464 130,949 2,193 - 133,606
Charge for year 464 35,784 - - 36,248
At 31 December 2024 928 166,733 2,193 - 169,854
NET BOOK VALUE
At 31 December 2024 1,184,335 170,032 18,959 6,850 1,380,176
At 31 December 2023 1,125,133 164,692 11,844 6,850 1,308,519

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024
and 31 December 2024 14,421,619
NET BOOK VALUE
At 31 December 2024 14,421,619
At 31 December 2023 14,421,619

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2016 904,706
Valuation in 2017 108,345
Valuation in 2018 427,526
Valuation in 2019 699,988
Valuation in 2020 971,411
Valuation in 2021 9,793,735
Valuation in 2022 (681,125 )
Cost 2,197,033
14,421,619

Dungates Farms Limited (Registered number: 01360773)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


6. STOCKS
2024 2023
£    £   
Stocks 187,708 314,908

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 80,674 51,264
Amounts owed by group undertakings 6,408,766 6,408,766
Other debtors 76,933 19,273
Prepayments 1,766 32,516
6,568,139 6,511,819

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 10) 60,000 60,000
Trade creditors 113,421 107,828
Amounts owed to group undertakings 1,656,222 1,452,000
Tax - 88,736
Social security and other taxes 19,853 19,649
VAT 53,925 19,953
Other creditors 39,335 37,904
Accruals and deferred income 140,038 171,524
2,082,794 1,957,594

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 10) 2,270,000 2,330,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,850,000 1,910,000

Repayable by instalments
Bank loans more 5 yr by instal 180,000 180,000

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 60,000 60,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 60,000 60,000

Dungates Farms Limited (Registered number: 01360773)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


10. LOANS - continued
2024 2023
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 180,000 180,000

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,850,000 1,910,000

Repayable by instalments
Bank loans more 5 yr by instal 180,000 180,000

The company has an interest only bank loan of £2,000,000 which runs to 2029. In addition there is a 10 year loan of £600,000 with annual capital repayments of £60,000. The loans are secured against the investment properties held by the company.

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 2,330,000 2,390,000

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,494,820 3,494,820

Deferred
tax
£   
Balance at 1 January 2024 3,494,820
Balance at 31 December 2024 3,494,820

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
47,685 Ordinary £1 47,685 47,685
238,425 Preference shares .01 2,384 2,384
50,069 50,069

Dungates Farms Limited (Registered number: 01360773)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


14. RESERVES
Fair Capital
Retained value redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 January 2024 7,948,796 6,839,542 45,331 14,833,669
Profit for the year 21,797 21,797
At 31 December 2024 7,970,593 6,839,542 45,331 14,855,466

15. ULTIMATE CONTROLLING PARTY

The company is a subsidiary of Samisami Limited.