John S. Pile (Farms) Limited

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—7

1. General Information

John S. Pile (Farms) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00883650 . The registered office is Middle Farm, Firle, Lewes, East Sussex, BN8 6LJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Intellectual Property

Intellectual property assets are trademarks. They are amortised to the income statement over their estimated economic life of 10 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	4% - 10% straight line
Plant & Machinery	20% reducing balance or straight line
Fixtures & Fittings	15% reducing balance

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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John S. Pile (Farms) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

The company operates a defined contribution pension scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.

2.8. Government Grant

Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.

All grants in the income statement are recognised when all conditions for receipt have been complied with.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 55 (2023: 56)

4. Intangible Assets

	Intellectual Property
	£
Cost
As at 1 January 2024	6,035

As at 31 December 2024	6,035

Amortisation
As at 1 January 2024	5,300
Provided during the period	105

As at 31 December 2024	5,405

Net Book Value
As at 31 December 2024	630

As at 1 January 2024	735

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John S. Pile (Farms) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 January 2024	512,650	497,492	110,553	1,120,695
Additions	12,182	18,594	10,611	41,387
Disposals	(6,338 )	(40,397 )	-	(46,735 )

As at 31 December 2024	518,494	475,689	121,164	1,115,347

Depreciation
As at 1 January 2024	476,463	403,094	77,787	957,344
Provided during the period	7,371	23,519	6,149	37,039
Disposals	(6,338 )	(37,517 )	-	(43,855 )

As at 31 December 2024	477,496	389,096	83,936	950,528

Net Book Value
As at 31 December 2024	40,998	86,593	37,228	164,819

As at 1 January 2024	36,187	94,398	32,766	163,351

6. Investments

	Subsidiaries	Other	Total
	£	£	£
Cost or Valuation
As at 1 January 2024	451	9,093	9,544
Disposals	-	(8,992 )	(8,992 )

As at 31 December 2024	451	101	552

Provision
As at 1 January 2024	-	-	-

As at 31 December 2024	-	-	-

Net Book Value
As at 31 December 2024	451	101	552

As at 1 January 2024	451	9,093	9,544

Investments in group undertakings

Subsidiary / Registered office Class of share % held

Middle Farm Limited

Middle Farm, Firle, Lewes,BN8 6LJ Ordinary 100

Middle Farm Shop Limited

Middle Farm, Firle, Lewes,BN8 6LJ Ordinary 100

Pookhill Limited

Middle Farm, Firle, Lewes, BN8 6LJ Ordinary 100

All subsidiaries are dormant companies which have never traded.

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John S. Pile (Farms) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Stocks

	2024	2023
	£	£
Stock	284,854	318,696

8. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	426	16,141
Other debtors	130,018	43,205

	130,444	59,346

9. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	155,219	220,267
Bank loans and overdrafts	14,167	24,167
Amounts owed to participating interests	892	18,510
Other creditors	104,050	124,002
Taxation and social security	41,151	49,285

	315,479	436,231

10. Deferred Taxation

The provision for deferred tax is made up as follows:

	2024	2023
	£	£
Other timing differences	20,800	25,500

11. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1,000	1,000

One of the shareholders, Mrs V M Pile, died in 2023. Her preference A shares (nominal value £5) were redeemed and cancelled on her death, as required by the company's articles of association.

12. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	115,250	115,250
Later than one year and not later than five years	201,135	316,385

	316,385	431,635

These values relate to the tenancy agreements for the land and buildings at Middle Farm occupied by the company.

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John S. Pile (Farms) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

13. Dividends

	2024	2023
	£	£
On equity shares:
Interim dividend paid	-	11,452

14. Related Party Transactions

As a joint tenant and former director, M J S Pile, a shareholder, occupied a property within the farm tenancy on a rent-free basis until his death in 2021. The property and its contents are currently being looked after by the Executor of Mr J S Pile until the administration of his estate is complete.

On 1 January 2019 Mr J S Pile sold his Animal Feed business to the company for £30,000 on an arm's length basis. The business assets transferred comprised machinery, equipment, fixtures and fittings, and stock. No amount was paid for goodwill. At 31 December 2024 £nil (2023: £15,440) remained outstanding on loan account to Mr Pile's estate.

Elizabeth Pile, a daughter of John Pile, his executor, and sister of the director Helen Marsh, has received goods and services from the company, and in her capacity as executor has paid rent to the company in relation to Mr Pile’s former home, all items being paid for at cost to the company. The total cost incurred in the year on these items is £2,626 (2023: £6,983). All amounts due were repaid to the company within 9 months of the year-end. Elizabeth Pile has also provided accountancy and consultancy services to the company during the year. The total she received in the year for services provided was £19,802 (2023: £nil).

15. Ultimate Controlling Party

On 11 November 2022 one shareholder, Mrs V M Pile, transferred her ordinary shares to three of her children, including the managing director, Mr and Mrs Pile's daughter Helen Marsh, who as a result now owns 44% of the ordinary shares. Mrs V M Pile died in 2023.

The company is controlled jointly by its shareholders and the Executor of Mr J Pile .

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		630		735
Tangible Assets	5		164,819		163,351
Investments	6		552		9,544

			166,001		173,630
CURRENT ASSETS
Stocks	7	284,854		318,696
Debtors	8	130,444		59,346
Cash at bank and in hand		198,425		361,607

		613,723		739,649
Creditors: Amounts Falling Due Within One Year	9	(315,479 )		(436,231 )

NET CURRENT ASSETS (LIABILITIES)			298,244		303,418

TOTAL ASSETS LESS CURRENT LIABILITIES			464,245		477,048

PROVISIONS FOR LIABILITIES
Deferred Taxation	10		(20,800 )		(25,500 )

NET ASSETS			443,445		451,548

CAPITAL AND RESERVES
Called up share capital	11		1,000		1,000
Income Statement			442,445		450,548

SHAREHOLDERS' FUNDS			443,445		451,548

Helen Marsh Director	Ian Marsh Director
30/09/2025