The director presents his annual report and financial statements for the year ended 31 December 2024.

The company acts as a holding company for certain of the UK subsidiaries of the Kverneland Group involved in the manufacturing of agricultural machinery.

The company is dormant and has not traded during the year.

The director who held office during the year and up to the date of signature of the financial statements was as follows:

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Vicon Agricultural Holdings Limited for the year ended 31 December 2024 which comprise, the balance sheet, the statement of changes in equity 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 at https://www.icaew.com/regulation.

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

It is your duty to ensure that Vicon Agricultural Holdings Limited 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 result of Vicon Agricultural Holdings Limited. You consider that Vicon Agricultural Holdings Limited 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 Vicon Agricultural Holdings Limited. 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.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

Vicon Agricultural Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O Kverneland Group UK Ltd, Walkers Lane, Lea Green, St Helens, Merseyside, WA9 4AF. The company's principal activities and nature of its operations are disclosed in the director's report.

The financial statements have been prepared in accordance with Financial Reporting Standard 101 Reduced Disclosure Framework (FRS 101) and in accordance with applicable accounting standards.

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.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

Vicon Agricultural Holdings Limited is a wholly owned subsidiary of Kubota Corporation and the results of Vicon Agricultural Holdings Limited are included in the consolidated financial statements of Kubota Corporation which are available from 2-47, Shikitsu-higashi 1-chome, Naniwa-ku, Osaka 556-8601, Japan.

The preparation of financial statements in conformity with generally accepted accounting principles requires the use of estimates and assumptions that affect the reports amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Although these estimates are based on management's best knowledge of the amount, event or actions, actual results ultimately may differ from those estimates

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

IFRS 13 establishes a single source of guidance for all fair value measurements. IFRS 13 does not change when an entity is required to use fair value, but rather provides guidance on how to measure fair value under IFRS when fair value is required or permitted. The company is exempt under FRS 101 from the disclosure requirements of IFRS 13. There was no impact on the company from the adoption of IFRS 13.

Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Such assets and liabilities are not recognised if the temporary 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.

Cash flow statement

There were no cash flows during the year and no cash balance at the beginning or end of the year, accordingly no cash flow statement has been presented.

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

The company has tax losses carried forward, and recognition of a deferred tax asset is assessed on the basis of possible future utilization of these tax losses. The assessment is made by calculation of estimated future earnings.

The company assesses annually whether there is any indication that investments in subsidiaries may be impaired. If there is such an indication, the company will carry out an impairment test by measuring the recoverable amount of the cash-generating unit which is determined based on value-in-use calculations. These calculations require the use of estimates.

No remuneration has been paid to the director during the year (2023: £Nil)

Trade debtors disclosed above are classified as loans and receivables and are therefore measured at amortised cost.

The following amounts were outstanding at the reporting end date:

No guarantees have been given or received.

The immediate holding company is Kverneland Holding (UK) Limited, a company incorporated in Great Britain. The directors consider the ultimate parent undertaking and controlling party to be Kubota Corporation, incorporated in Japan.

The parent undertaking of the largest and smallest group of undertakings for which group accounts are prepared is Kubota Corporation. Copies of these group accounts may be obtained from 2-47, Shikitsu-higashi 1-chome, Naniwa-ku, Osaka 556-8601, Japan