Registration number: 01760471

Marchmont Farms Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 15

Marchmont Farms Limited

Company Information

Directors

O A Burge L Whitford H L Lakin

Company secretary

L Whitford A P Martin

Registered office

The Courtyard Holt Lodge Farm Horton Wimborne Dorset BH21 7JN

Accountants

Manningtons 8 High Street Heathfield East Sussex TN21 8LS

Marchmont Farms Limited

(Registration number: 01760471)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	43,151	54,381
Tangible assets	5	43,755,662	43,087,557
Investment property	6	7,801,154	7,736,883
Investments	7	452,669	452,669
		52,052,636	51,331,490
Current assets
Stocks	8	438,021	432,521
Debtors	9	26,782,225	25,755,328
Cash at bank and in hand		85,821	185,899
		27,306,067	26,373,748
Creditors: Amounts falling due within one year	10	(55,954,073)	(53,607,971)
Net current liabilities		(28,648,006)	(27,234,223)
Total assets less current liabilities		23,404,630	24,097,267
Creditors: Amounts falling due after more than one year	10	(14,000,000)	(14,000,000)
Net assets		9,404,630	10,097,267
Capital and reserves
Called up share capital		100	100
Revaluation reserve		13,751,903	13,751,903
Retained earnings		(4,347,373)	(3,654,736)
Shareholders' funds		9,404,630	10,097,267

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 24 September 2025 and signed on its behalf by:
 

Marchmont Farms Limited

(Registration number: 01760471)
Balance Sheet as at 31 December 2024

......................................... O A Burge Director

Marchmont Farms 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 and Wales.

The address of its registered office is:
The Courtyard Holt Lodge Farm
Horton
Wimborne
Dorset
BH21 7JN
England

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 modified by the revaluation of freehold land and property..

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for farming, including grants energy and rental income. Turnover is shown net of 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.

Tax

The tax expense for the period comprises 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.

Marchmont Farms Limited

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

Tangible assets

Tangible assets are stated in the balance sheet 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

No depreciation is provided in respect of properties on the grounds that it would be immaterial.The directors are of the opinion that the remaining useful lives of freehold buildings is greater than fifty years. The freehold land and buildings were revalue in October 2010 following the revaluation as at 31 December 1990; this is a change in accounting policy in order to more fully reflect the asset values of the company. For other assets depreciation is provided at rates calculated to write off the cost of the assets over their estimated useful lives on a straight line basis at the following rates:

Asset class	Depreciation method and rate
Land and buildings	Not depreciated
Leasehold interest	4.2% straight Line
Plant and Equipment	5%,10%,15% & 20% Straight line
Motor vehicle	20% straight line
Office & rented property equipment	7% & 20% Straight line

Investment property

Investment property comprises freehold and long leasehold buildings. They are measured initially at cost, including related transaction costs. These are held as investments to earn rental income and for capital appreciation and are stated at fair value at the balance sheet date.

The fair value of investment property reflects, among other things, rental income from current leases and assumptions about rental income from future leases in the light of current market conditions.

Subsequent expenditure is added to assets carrying amount only when it is probable that future economic benefits associated with the item will flow to the company and the cost of the item can be measured reliably. All other repairs and maintenance costs are charged to the profit and loss account during the financial period in which they are incurred.

Any movement in the fair value of the properties is reflected within the profit and loss account for the year.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Intangibles	5 years straight line

Marchmont Farms Limited

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

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 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 impairment.

Art is measured initially at cost, including related transaction costs. These are held as investments for capital appreciation and are stated at fair value at the balance sheet date.


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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Marchmont Farms Limited

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

Borrowings

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2023 - 16).

Marchmont Farms Limited

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

4	Intangible assets

	Other intangible assets  £	Total £
Cost or valuation
At 1 January 2024	66,357	66,357
Additions acquired separately	2,500	2,500
At 31 December 2024	68,857	68,857
Amortisation
At 1 January 2024	11,976	11,976
Amortisation charge	13,730	13,730
At 31 December 2024	25,706	25,706
Carrying amount
At 31 December 2024	43,151	43,151
At 31 December 2023	54,381	54,381

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £
Cost or valuation
At 1 January 2024	39,461,089	3,828,718	295,195	1,623,093
Additions	538,324	64,756	164,936	94,169
At 31 December 2024	39,999,413	3,893,474	460,131	1,717,262
Depreciation
At 1 January 2024	-	826,901	165,585	1,128,052
Charge for the year	-	71,681	49,989	72,410
At 31 December 2024	-	898,582	215,574	1,200,462
Carrying amount
At 31 December 2024	39,999,413	2,994,892	244,557	516,800
At 31 December 2023	39,461,089	3,001,817	129,610	495,041

Marchmont Farms Limited

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

	Total £
Cost or valuation
At 1 January 2024	45,208,095
Additions	862,185
At 31 December 2024	46,070,280
Depreciation
At 1 January 2024	2,120,538
Charge for the year	194,080
At 31 December 2024	2,314,618
Carrying amount
At 31 December 2024	43,755,662
At 31 December 2023	43,087,557

Included within the net book value of land and buildings above is £39,999,413 (2023 - £39,461,089) in respect of freehold land and buildings.
 

6	Investment properties

	2024 £
At 1 January	7,736,883
Additions	64,271
At 31 December	7,801,154

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

7	Investments

	2024 £	2023 £
Investments in subsidiaries	452,669	452,669