REGISTERED NUMBER: 03813257 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

LOVATON FARM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J E Barber

S M Kemp

SECRETARY:

J E Barber

REGISTERED OFFICE:

Lovaton Farm

South Tawton

Okehampton

Devon

EX20 2RA

REGISTERED NUMBER:

03813257 (England and Wales)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

FIXED ASSETS

Tangible assets

4

925,338

932,149

Investments

5

28,801

26,005

954,139

958,154

CURRENT ASSETS

Debtors

6

461

-

Cash at bank

213,248

200,557

213,709

200,557

CREDITORS

Amounts falling due within one year

7

209,999

219,245

NET CURRENT ASSETS/(LIABILITIES)

3,710

(18,688

)

TOTAL ASSETS LESS CURRENT LIABILITIES

957,849

939,466

CREDITORS

Amounts falling due after more than one year

8

228,236

227,235

NET ASSETS

729,613

712,231

CAPITAL AND RESERVES

Called up share capital

11,815

11,815

Share premium

678,591

678,591

Other reserves

16,000

16,000

Retained earnings

23,207

5,825

SHAREHOLDERS' FUNDS

729,613

712,231

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 5th September 2025 and were signed on its behalf by:

J E Barber - Director

1.	STATUTORY INFORMATION

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

Tangible fixed assets

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

Freehold property

-

nil

Fixtures and fittings

-

15% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 2 ).

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST

At 1st January 2024

and 31st December 2024

886,749

72,268

959,017

DEPRECIATION

At 1st January 2024

-

26,868

26,868

Charge for year

-

6,811

6,811

At 31st December 2024

-

33,679

33,679

NET BOOK VALUE

At 31st December 2024

886,749

38,589

925,338

At 31st December 2023

886,749

45,400

932,149

5.	FIXED ASSET INVESTMENTS

The fixed asset investment relates to the company's capital and current accounts in the Lovaton Farm Partnership.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

461

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

2,558

2,764

Trade creditors

393

-

Taxation and social security

5,656

-

Other creditors

201,392

216,481

209,999

219,245

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

228,236

227,235

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

215,568

219,143

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

230,794

229,999

The bank loan is secured by a fixed and floating charge on the company's property.