Company No: 03487674 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	4	2,480,642		2,514,429
Investments		1		1
		2,480,643		2,514,430
Current assets
Stocks		381,455		308,686
Debtors
- due within one year	5	108,582		148,300
- due after more than one year	5	385		0
		490,422		456,986
Creditors: amounts falling due within one year	7	( 836,215)		( 859,721)
Net current liabilities		(345,793)		(402,735)
Total assets less current liabilities		2,134,850		2,111,695
Creditors: amounts falling due after more than one year	8	( 1,126,548)		( 1,263,513)
Net assets		1,008,302		848,182
Capital and reserves
Called-up share capital	9	750,002		750,002
Profit and loss account		258,300		98,180
Total shareholders' funds		1,008,302		848,182

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Egford Bacon Limited (registered number: 03487674) were approved and authorised for issue by the Board of Directors on 11 August 2025. They were signed on its behalf by:

Mr N L White Director

1. Accounting policies

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.

General information and basis of accounting

Egford Bacon 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 Hitchcock House Hilltop Park, Devizes Road, Salisbury, SP3 4UF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

4 years straight line

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings	25 years straight line
Biological assets	5 years straight line
Investment property	not depreciated
Plant and machinery	20 % reducing balance
	15 years straight line
Vehicles	20 % reducing balance
Fixtures and fittings	15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Biological assets

The Company owned . In accordance with FRS102, these are defined as biological assets.

Biological assets are recognised only when the entity has control of the asset as a result of past events, it is probable that future economic benefits associated with the asset will flow to the entity; and the fair value or cost of the asset can be measured reliably.

Where the Company measures a biological asset under the fair value model on initial recognition, it must carry the asset at fair value at each reporting date. Changes in fair value less costs to sell are recognised in profit or loss.

The Company measures biological assets at cost less accumulated depreciation and accumulated impairment losses as follows:

Pig herd depreciated on a straight line basis over 5 years

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at X.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	6		5

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 January 2024	11,232		11,232
At 31 December 2024	11,232		11,232
Accumulated amortisation
At 01 January 2024	11,232		11,232
At 31 December 2024	11,232		11,232
Net book value
At 31 December 2024	0		0
At 31 December 2023	0		0

4. Tangible assets

	Land and buildings		Biological assets		Investment property		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£		£		£
Cost
At 01 January 2024	1,207,280		63,750		1,049,975		623,582		161,212		24,095		3,129,894
Additions	5,511		31,710		0		4,435		29,220		0		70,876
Disposals	0		( 34,830)		0		0		0		0		( 34,830)
At 31 December 2024	1,212,791		60,630		1,049,975		628,017		190,432		24,095		3,165,940
Accumulated depreciation
At 01 January 2024	11,364		20,762		0		438,594		134,852		9,893		615,465
Charge for the financial year	1,499		17,046		0		41,396		11,116		2,079		73,136
Disposals	0		( 3,303)		0		0		0		0		( 3,303)
At 31 December 2024	12,863		34,505		0		479,990		145,968		11,972		685,298
Net book value
At 31 December 2024	1,199,928		26,125		1,049,975		148,027		44,464		12,123		2,480,642
At 31 December 2023	1,195,916		42,988		1,049,975		184,988		26,360		14,202		2,514,429

Included within the net book value of land and buildings above is £1,175,279 (2023- £1,169,766) in respect of freehold land and buildings.

5. Debtors

	2024		2023
	£		£
Debtors: amounts falling due within one year
Trade debtors	35,401		84,477
Amounts owed by directors	1,140		0
Prepayments	60,366		60,366
VAT recoverable	11,675		3,457
	108,582		148,300
Debtors: amounts falling due after more than one year
Other debtors	385		0

6. Cash and cash equivalents

	2024		2023
	£		£
Less: Bank overdrafts	( 173,548)		( 345,471)

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans and overdrafts	312,936		390,296
Trade creditors	143,430		107,532
Taxation and social security	94,130		48,617
Obligations under finance leases and hire purchase contracts	18,039		15,145
Other creditors	267,680		298,131
	836,215		859,721

There are no amounts included above in respect of which any security has been given by the small entity.

8. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans (secured)	950,409		1,099,366
Amounts owed to directors	50,000		50,000
Obligations under finance leases and hire purchase contracts (secured)	21,620		8,595
Deferred tax liability	104,519		105,552
	1,126,548		1,263,513

Security has been given on the aggregate value of finance leases held by the company.
The bank overdraft and loan is secured through a floating and fixed charge on land owned by the company.

9. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
200 Ordinary shares of £ 0.01 each	2		2
750,000 Preference redeemable shares of £ 1.00 each	750,000		750,000
	750,002		750,002

10. Related party transactions

Transactions with the entity's directors

	2024		2023
	£		£
Aggregate amount owed to directors	171,361		229,309