REGISTERED NUMBER: 02776446 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

J.H.P. FARMING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J H Peploe

Mrs K L Peploe

SECRETARY:

Mrs K L Peploe

REGISTERED OFFICE:

Medbourne Farm

Liddington

Swindon

Wiltshire

SN4 0EY

REGISTERED NUMBER:

02776446 (England and Wales)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

FIXED ASSETS

Intangible assets

4

26,588

26,588

Tangible assets

5

422,013

362,312

448,601

388,900

CURRENT ASSETS

Stocks

269,119

390,157

Debtors

6

214,257

108,786

Cash at bank

77,375

57,074

560,751

556,017

CREDITORS

Amounts falling due within one year

7

403,960

392,683

NET CURRENT ASSETS

156,791

163,334

TOTAL ASSETS LESS CURRENT LIABILITIES

605,392

552,234

CREDITORS

Amounts falling due after more than one year

8

100,337

91,360

NET ASSETS

505,055

460,874

CAPITAL AND RESERVES

Called up share capital

15,002

15,002

Retained earnings

490,053

445,872

SHAREHOLDERS' FUNDS

505,055

460,874

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

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

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 23rd September 2025 and were signed on its behalf by:

J H Peploe - Director

Mrs K L Peploe - Director

1.	STATUTORY INFORMATION

J.H.P. Farming 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.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Milk quota are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

10% on cost and 5% on reducing balance

Plant and machinery

-

25% on reducing balance and 15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

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.

Investments

Investments are stated at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Milk

quota

£

COST

At 1st January 2024

and 31st December 2024

65,402

AMORTISATION

At 1st January 2024

and 31st December 2024

38,814

NET BOOK VALUE

At 31st December 2024

26,588

At 31st December 2023

26,588

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st January 2024

750,281

534,535

63,596

2,734

1,351,146

Additions

14,750

144,452

2,978

-

162,180

Disposals

-

(50,300

)

-

-

(50,300

)

At 31st December 2024

765,031

628,687

66,574

2,734

1,463,026

DEPRECIATION

At 1st January 2024

637,085

294,235

56,325

1,189

988,834

Charge for year

24,115

52,483

1,537

232

78,367

Eliminated on disposal

-

(26,188

)

-

-

(26,188

)

At 31st December 2024

661,200

320,530

57,862

1,421

1,041,013

NET BOOK VALUE

At 31st December 2024

103,831

308,157

8,712

1,313

422,013

At 31st December 2023

113,196

240,300

7,271

1,545

362,312

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

113,402

36,326

Other debtors

36,510

28,510

Taxation

21,070

19,947

VAT

5,729

8,755

Prepayments and accrued income

37,546

15,248

214,257

108,786

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

62,492

48,890

Trade creditors

103,376

75,329

Tax

1,123

1,123

Other creditors

5,522

3,719

Directors' current accounts

204,506

245,045

Accrued expenses

16,941

8,577

403,960

392,683

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

5,834

10,000

Bank loans - 2-5 years

-

5,834

Hire purchase contracts

94,503

75,526

100,337

91,360

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

156,995

124,416

Bank overdrafts are secured by a charge over all of the company's fixed and current assets.

Hire purchase loans are secured by the relevant asset.

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors, Mr J H Peploe and Mrs K L Peploe.