REGISTERED NUMBER: 06421863 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

CULDEN FAW LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A D Dick

REGISTERED OFFICE:

The Estate Office

10 Greenlands Farm

Dairy Lane, Hambleden

Henley-On-Thames

Oxfordshire

RG9 3AS

REGISTERED NUMBER:

06421863 (England and Wales)

ACCOUNTANTS:

Martin and Company

Two Brewers House

50 North Street

Thame

Oxfordshire

OX9 3BH

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

11,324,291

11,593,279

11,324,291

11,593,279

CURRENT ASSETS

Stocks

2,553,031

2,810,071

Debtors

6

1,564,505

1,033,317

Cash in hand

1,714

1,164

4,119,250

3,844,552

CREDITORS

Amounts falling due within one year

7

8,957,621

18,221,590

NET CURRENT LIABILITIES

(4,838,371

)

(14,377,038

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,485,920

(2,783,759

)

CAPITAL AND RESERVES

Called up share capital

30,000,000

20,000,000

Retained earnings

(23,514,080

)

(22,783,759

)

6,485,920

(2,783,759

)

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 director acknowledges his 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 director and authorised for issue on 24th September 2025 and were signed by:

A D Dick - Director

1.	STATUTORY INFORMATION

Culden Faw 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.

The company is dependent for its working capital on funds provided to it by the parent company. The parent company has confirmed that for at least 12 months from the date of approval of these financial statements it will continue to make available such funds as are needed by the company. Although these loans are repayable on demand, it does not intend to seek repayment of the amounts currently made available. The director considers that this should enable the company to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due for payment. As with any company placing reliance on other group entities for financial support, the director acknowledges that there can be no certainty that this support will continue although, at the date of approval of these financial statements, he has no reason to believe that it will not do so.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Entitlements are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

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

Tenant improvements

-

20% on reducing balance, 5% on cost and 2% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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 26 (2023 - 26 ) .

4.	INTANGIBLE FIXED ASSETS

Entitlements

£

COST

At 1st January 2024

and 31st December 2024

95,400

AMORTISATION

At 1st January 2024

and 31st December 2024

95,400

NET BOOK VALUE

At 31st December 2024

-

At 31st December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st January 2024

20,078,014

2,823,950

22,901,964

Additions

555,049

43,759

598,808

Disposals

-

(20,272

)

(20,272

)

At 31st December 2024

20,633,063

2,847,437

23,480,500

DEPRECIATION

At 1st January 2024

9,038,215

2,270,470

11,308,685

Charge for year

751,568

108,270

859,838

Eliminated on disposal

-

(12,314

)

(12,314

)

At 31st December 2024

9,789,783

2,366,426

12,156,209

NET BOOK VALUE

At 31st December 2024

10,843,280

481,011

11,324,291

At 31st December 2023

11,039,799

553,480

11,593,279

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

300,600

243,939

Other debtors

1,263,905

789,378

1,564,505

1,033,317

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

273,455

387,012

Amounts owed to group undertakings

6,765,171

15,936,560

Other creditors

1,918,995

1,898,018

8,957,621

18,221,590

8.	LEASING AGREEMENTS

Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024

2023

£

£

647,178

1,690,169

9.	RELATED PARTY DISCLOSURES

The company is funded by an unsecured loan from the parent company of £6,765,171 (2023: £15,936,560). The loan is currently unsecured, interest free and with no fixed repayment term.

At the year end the company was owed £503,520 (2023: £546,884) by a subsidiary of the parent company. The amount owed is currently unsecured, interest free and with no fixed repayment term and is disclosed within the other debtors.

During the year the company borrowed a further £243,224 from a company with a mutual person of significant control. At the year end the company owed £1,685,630 (2023: £1,442,406).

During the year a related party acted as an agent for the company. At the year end the company was owed £539,737 (2023: £57,852) by the agent and this is disclosed within 'other debtors' shown in note 7.

During the year the company leant money to a connected company and at the year end the company was owed £170,000 (2023: £nil). The amount owed is currently unsecured, interest free and with no fixed repayment term and is disclosed within the other debtors. Repayment of this loan began shortly after the year end.

10.	PARENT COMPANY

The parent company of this entity is Hambleden Estate Inc, a company incorporated in the British Virgin Islands.