Edder Farms Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 7

Edder Farms Limited

Balance Sheet

31 December 2024

	Note	2024 £	(As restated) 2023 £
Fixed assets
Investment property	4	1,245,986	1,170,000
Current assets
Stocks	5	330,717	311,186
Debtors	6	4,380	78,834
Cash at bank and in hand		31,705	-
		366,802	390,020
Creditors: Amounts falling due within one year	7	(1,312,489)	(662,621)
Net current liabilities		(945,687)	(272,601)
Total assets less current liabilities		300,299	897,399
Creditors: Amounts falling due after more than one year	7	-	(525,659)
Provisions for liabilities		(83,502)	(101,362)
Net assets		216,797	270,378
Capital and reserves
Called up share capital	9	2,000	2,000
Profit and loss account		214,797	268,378
Shareholders' funds		216,797	270,378

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 23 May 2025 and signed on its behalf by:
 

......................................... D Symons Director

Company Registration Number: 13520803

Edder Farms Limited

Notes to the Financial Statements

Year Ended 31 December 2024

1	General information

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

The address of its registered office is:
The Terminal
Aviation Way
Carlisle
CA6 4NZ

These financial statements were authorised for issue by the Board on 23 May 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 28 May 2025 was Duncan Leslie FCA, who signed for and on behalf of PKF Francis Clark.

Going concern

The directors have considered a period of more than 12 months from approval of these accounts, including appropriate forecasts, and are satisfied the going concern basis continues to be appropriate. Evaluation of the wider macro-economic challenges in the UK and globally has shown there was a limited impact on the business.

Forestry continues to be a key aspect of a wider narrative on global warming and climate change, which is driving new woodland creation to the highest level in several decades.

Government grants

Government grants are accounted for using the performance model. The grants are initally credited to deferred income and released to the profit and loss account when the performance-related conditions of the grant are satisfied.

Edder Farms Limited

Notes to the Financial Statements

Year Ended 31 December 2024

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.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate. The valuation 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.

Stocks

Work in progress relates to land acquired with a view to sale which is measured at cost. The cost of work in progress comprises direct land costs and, where applicable, direct labour costs and those overheads that have been incurred in bringing the work in progress to its present location and condition.

At each reporting date, work in progress is assessed for impairment. If impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Edder Farms Limited

Notes to the Financial Statements

Year Ended 31 December 2024

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4	Investment properties

	2024 £
At 1 January	1,170,000
Additions	75,986
At 31 December	1,245,986

The fair value of the investment properties is based on a valuation carried out by an independent valuer in 2023 adjusted for additions during the year.

5

Stocks

	2024 £	2023 £
Work in progress	330,717	311,186

Edder Farms Limited

Notes to the Financial Statements

Year Ended 31 December 2024

6

Debtors

	2024 £	2023 £
Prepayments	1,186	-
Other debtors	3,194	78,834
	4,380	78,834

7

Creditors

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	8	1,306,453	658,421
Taxation and social security		141	-
Accruals and deferred income		5,895	4,200
		1,312,489	662,621