Company No: 07582315 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

Directors	Thomas Arnott Redsell Johnson
	Georgina Lorraine Redsell Watson

Secretary

Thomas Arnott Redsell Johnson

Registered office	Elverton Farm House
	Luddenham
	Faversham
	ME13 0TN
	United Kingdom

Company number

07582315 (England and Wales)

Accountant	Kreston Reeves LLP
	37 St Margarets Street
	Canterbury
	Kent
	CT1 2TU

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	1,224,082		1,296,196
Investments	4	1,500		1,500
		1,225,582		1,297,696
Current assets
Stocks		248,781		91,771
Debtors	5	361,408		516,728
Cash at bank and in hand	6	3,924		23,171
		614,113		631,670
Creditors: amounts falling due within one year	7	( 414,247)		( 638,740)
Net current assets/(liabilities)		199,866		(7,070)
Total assets less current liabilities		1,425,448		1,290,626
Creditors: amounts falling due after more than one year	8	( 255,390)		( 269,050)
Net assets		1,170,058		1,021,576
Capital and reserves
Called-up share capital	10	4,500		4,500
Profit and loss account		1,165,558		1,017,076
Total shareholders' funds		1,170,058		1,021,576

For the financial year ending 30 September 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Elverton Farms Limited (registered number: 07582315) were approved and authorised for issue by the Board of Directors on 29 September 2025. They were signed on its behalf by:

Thomas Arnott Redsell Johnson Director

Georgina Lorraine Redsell Watson Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Elverton Farms Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Elverton Farm House, Luddenham, Faversham, ME13 0TN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

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 fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Plant and machinery	15 - 25 % reducing balance
Vehicles	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	6		12

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Total
	£		£		£		£
Cost
At 01 October 2023	1,180,508		404,495		60,115		1,645,118
Disposals	( 24,612)		( 52,670)		0		( 77,282)
At 30 September 2024	1,155,896		351,825		60,115		1,567,836
Accumulated depreciation
At 01 October 2023	53,552		273,157		22,213		348,922
Charge for the financial year	4,481		23,763		9,475		37,719
Disposals	0		( 42,887)		0		( 42,887)
At 30 September 2024	58,033		254,033		31,688		343,754
Net book value
At 30 September 2024	1,097,863		97,792		28,427		1,224,082
At 30 September 2023	1,126,956		131,338		37,902		1,296,196

4. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 October 2023	1,500		1,500
At 30 September 2024	1,500		1,500
Carrying value at 30 September 2024	1,500		1,500
Carrying value at 30 September 2023	1,500		1,500

5. Debtors

	2024		2023
	£		£
Trade debtors	13,247		6,801
Amounts owed by connected companies	238,660		373,649
Deferred tax asset	42,869		62,673
Other debtors	66,632		73,605
	361,408		516,728

6. Cash and cash equivalents

	2024		2023
	£		£
Cash at bank and in hand	3,924		23,171
Less: Bank overdrafts	( 25,946)		0
	(22,022)		23,171

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank overdrafts	25,946		0
Trade creditors	37,763		58,895
Amounts owed to connected companies	260,849		279,517
Other taxation and social security	174		4,582
Obligations under finance leases and hire purchase contracts	13,660		23,694
Other creditors	75,855		272,052
	414,247		638,740

8. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Obligations under finance leases and hire purchase contracts	55,390		69,050
Other creditors	200,000		200,000
	255,390		269,050

There are no amounts included above in respect of which any security has been given by the small entity.

9. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	62,673		9,057
(Charged)/credited to the Statement of Income and Retained Earnings	( 19,804)		53,616
At the end of financial year	42,869		62,673

The deferred taxation balance is made up as follows:

	2024		2023
	£		£
Accelerated capital allowances	( 23,745)		( 31,904)
Tax losses carry forward	66,614		94,577
	42,869		62,673

10. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
1,500 A ordinary shares of £ 1.00 each	1,500		1,500
3,000 B ordinary shares of £ 1.00 each	3,000		3,000
	4,500		4,500