Oakdale Farms Limited


Directors	Dr Leon Roger Furlong
	Sally Elvina Furlong


Company Secretary	Sally Elvina Furlong


Registered Address	Cherry Tree Farm
	Bagby
	Thirsk
	YO7 2PH


Registered Number	04764454 (England and Wales)

Statement of Financial Position
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		319,986		369,244
Investment property	4		4,744,473		5,341,781
			5,064,459		5,711,025
Current assets
Debtors	5	5,344,379		5,071,760
Current asset investments	6	100		100
		5,344,479		5,071,860
Creditors amounts falling due within one year	7	(396,812)		(370,193)
Net current assets (liabilities)			4,947,667		4,701,667
Total assets less current liabilities			10,012,126		10,412,692
Creditors amounts falling due after one year	8		(2,654,359)		(3,258,006)
Provisions for liabilities	9		(648,735)		(750,439)
Net assets			6,709,032		6,404,247
Capital and reserves
Called up share capital			3,000		3,000
Revaluation reserve			1,753,061		2,029,957
Profit and loss account			4,952,971		4,371,290
Shareholders' funds			6,709,032		6,404,247

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 19 September 2025, and are signed on its behalf by:

Dr Leon Roger Furlong
Director
Registered Company No. 04764454

Oakdale Farms Limited

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

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

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Plant and machinery	10
	Fixtures and fittings	10
	Vehicles	25

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

	Investment property
	Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	Investments in subsidiaries are measured at cost less accumulated impairment. Investment in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. Investment in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Financial instruments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investment in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investment in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 January 24	1,143,503	44,224	341,153	2,623	1,531,503
Disposals	(58,093)	-	-	-	(58,093)
At 31 December 24	1,085,410	44,224	341,153	2,623	1,473,410
Depreciation and impairment
At 01 January 24	877,230	34,927	248,268	1,834	1,162,259
Charge for year	25,542	3,068	9,289	506	38,405
On disposals	(47,240)	-	-	-	(47,240)
At 31 December 24	855,532	37,995	257,557	2,340	1,153,424
Net book value
At 31 December 24	229,878	6,229	83,596	283	319,986
At 31 December 23	266,273	9,297	92,885	789	369,244

4.	Investment property
	The 2016 valuations were made by George F White & Co, on an open market value for existing use basis. As well as the Investment property amounts above, there is also £100 (2023: £100) Investment in subsidiary companies.


		£
	Fair value at 01 January 24	5,341,781
	Disposals	(597,308)
	At 31 December 24	4,744,473

5.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	180	-
Other debtors	5,335,134	5,067,801
Prepayments and accrued income	9,065	3,959
Total	5,344,379	5,071,760

6.	Current asset investments

7.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	12,727	11,310
Bank borrowings and overdrafts	151,405	148,658
Taxation and social security	180,438	156,447
Other creditors	-	1,811
Accrued liabilities and deferred income	52,242	51,967
Total	396,812	370,193

8.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	2,654,359	3,258,006
Total	2,654,359	3,258,006


	Bank borrowings are secured by fixed and floating charges over the company's assets. Included in the bank loans falling due after more than one year are amounts payable after more than five years of £2,044,309 (2023: £2,674,965).

9.	Provisions for liabilities

	2024	2023
	£	£
Net deferred tax liability (asset)	648,735	750,439
Total	648,735	750,439

10.	Directors advances, credits and guarantees
	At the beginning of the year £236,637 (2023: £231,272) was owed by the director to the company. During the year advancements of £9,222 (2023: £5,365) were made. At the balance sheet date the amount owed by the director to the company amount to £245,859 (2023: £236,637). This amount includes interest charged at the HMRC recommended rate. The amount is included in other debtors.

11.	Related party transactions
	The Company has taken advantage of the exemption contained in Section 33 of FRS 102 "Related Party Disclosures" from disclosing transactions with related parties which are on an arms length basis.

12.	Exceptional items
	During the year £77,715 (2023 - £Nil) of income of exceptional size or incidence was recorded and related to monies contributed from Lloyds Bank to pay down the existing Lloyds Bank loan. This was included in other income.