Registration number: 10363873

R. Kendall Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 8

R. Kendall Limited

(Registration number: 10363873)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	6,201,774	5,939,082
Investment property	5	520,000	520,000
Other financial assets	6	1,827,843	1,649,031
		8,549,617	8,108,113
Current assets
Stocks	7	551,793	670,885
Debtors	8	87,393	96,463
Investments	9	6,050	6,050
Cash at bank and in hand		1,159,610	1,099,252
		1,804,846	1,872,650
Creditors: Amounts falling due within one year	10	(188,176)	(207,329)
Net current assets		1,616,670	1,665,321
Total assets less current liabilities		10,166,287	9,773,434
Creditors: Amounts falling due after more than one year	10	(81,600)	(211,695)
Provisions for liabilities		(200,128)	(80,250)
Net assets		9,884,559	9,481,489
Capital and reserves
Called up share capital		33,335	33,335
Other reserves		4,495,626	4,413,519
Retained earnings		5,355,598	5,034,635
Shareholders' funds		9,884,559	9,481,489

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 accounts for the year in question in accordance with section 476; and
•	The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 September 2025 and signed on its behalf by:
 

......................................... R Kendall Director

R. Kendall Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The Company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Little Wauldby Farm
Swanland Dale
Swanland
North Ferriby
HU14 3RA

These financial statements were authorised for issue by the Board on 25 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements have been prepared in sterling and amounts shown have been rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Government grants

Basic payment scheme is received in respect of calendar years. Receipt is contingent upon meeting certain
eligibility criteria over a ten month period. Once the criteria have been met the income is recognised in the year to which it relates

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

R. Kendall Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Some tangible assets are stated in the statement of financial position at fair value, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Movements in the fair of these assets are taken to a fair value reserve.

Other assets are stated in the statement of financial position at cost less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land	Not depreciated
Buildings	At varying rates per annum of 2% & 4% straight line
Plant and machinery	20% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in the fair value recognised in profit or loss.

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less

Interest income on debt securities, where applicable, is recognised in income using the effective interest method.

Dividends on equity securities are recognised in income when receivable.

Stocks

The basis of valuation is as follows:
Raw materials and consumables are stated at the lower of cost or net realisable value.
Tenantright is calculated by a combination of actual costs incurred and standard costs.
Produce on hand is valued at standard cost.
Standard costings are based upon calculations prepared by the Central Association of Agricultural Valuers.
The basis of valuation is consistent with previous years.

Borrowings

R. Kendall Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 1 (2023 - 1).

R. Kendall Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	5,908,922	737,242	25,799	6,671,963
Additions	-	376,052	39,990	416,042
Disposals	-	(182,790)	(25,799)	(208,589)
At 31 December 2024	5,908,922	930,504	39,990	6,879,416
Depreciation
At 1 January 2024	219,786	493,418	19,677	732,881
Charge for the year	38,813	65,487	1,531	105,831
Eliminated on disposal	-	(139,862)	(21,208)	(161,070)
At 31 December 2024	258,599	419,043	-	677,642
Carrying amount
At 31 December 2024	5,650,323	511,461	39,990	6,201,774
At 31 December 2023	5,689,136	243,824	6,122	5,939,082

Included within the net book value of land and buildings above is £5,650,323 (2023 - £5,689,136) in respect of freehold land and buildings.
 

5	Investment properties

	2024 £
At 1 January	520,000
At 31 December	520,000

There has been no valuation of investment property by an independent valuer.

R. Kendall Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 January 2024	1,649,030	1,649,030
Fair value adjustments	169,218	169,218
Additions	31,340	31,340
Disposals	(21,745)	(21,745)
At 31 December 2024	1,827,843	1,827,843
Impairment
Carrying amount
At 31 December 2024	1,827,843	1,827,843

7

Stocks

	2024 £	2023 £
Other inventories	551,793	670,885

8

Debtors

Current	2024 £	2023 £
Trade debtors	52,711	93,773
Other debtors	34,682	2,690
	87,393	96,463

9	Current asset investments

	2024 £	2023 £
Other investments	6,050	6,050

R. Kendall Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

10

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	11	81,600	30,898
Trade creditors		69,353	42,079
Taxation and social security		22,366	71,522
Accruals and deferred income		14,857	22,441
Other creditors		-	40,389
		188,176	207,329

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £81.600 (2023 - £30,898). The loans are secured by land and property, the hire purchased is secured against the asset to which it relates.

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	11	81,600	211,695

	2024 £	2023 £
Due after more than five years
After more than five years by instalments	-	88,105

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