REGISTERED NUMBER: 02766415 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

RED LION FARM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J A E Mearns

Mrs J E Mearns

SECRETARY:

Mrs J E Mearns

REGISTERED OFFICE:

25 St. Thomas Street

Winchester

Hampshire

SO23 9HJ

REGISTERED NUMBER:

02766415 (England and Wales)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

BANKERS:

Lloyds Banking Group Plc

1 Reading Road

Henly-On-Thames

Oxfordshire

RG9 1AE

FIXED ASSETS

Tangible assets

4

3,055,891

3,124,432

Investments

5

10,000

10,000

3,065,891

3,134,432

CURRENT ASSETS

Stocks

1,362,821

1,422,974

Debtors

6

140,213

143,654

Cash at bank

2,294

358

1,505,328

1,566,986

CREDITORS

Amounts falling due within one year

7

761,741

1,912,715

NET CURRENT ASSETS/(LIABILITIES)

743,587

(345,729

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,809,478

2,788,703

CREDITORS

Amounts falling due after more than one year

8

(2,844,663

)

(1,886,789

)

PROVISIONS FOR LIABILITIES

(51,634

)

(51,634

)

NET ASSETS

913,181

850,280

CAPITAL AND RESERVES

Called up share capital

346,613

346,613

Retained earnings

566,568

503,667

SHAREHOLDERS' FUNDS

913,181

850,280

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 25 September 2025 and were signed on its behalf by:

J A E Mearns - Director

1.	STATUTORY INFORMATION

Red Lion 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

-

4% on cost

Plant and machinery

-

15-25% on reducing balance

Tractors and combines

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Investments in associates

Investments in associate undertakings are recognised at cost.

Stocks

Stocks including biological assets are stated at the lower of cost and estimated selling price less costs to sell.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Tractors

Freehold

Plant and

and

Motor

property

machinery

combines

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

2,445,258

934,474

957,068

49,683

4,386,483

Additions

-

37,650

177,000

-

214,650

Disposals

-

(32,000

)

(48,750

)

-

(80,750

)

At 31 December 2024

2,445,258

940,124

1,085,318

49,683

4,520,383

DEPRECIATION

At 1 January 2024

55,094

619,651

545,529

41,777

1,262,051

Charge for year

27,143

84,760

144,243

1,977

258,123

Eliminated on disposal

-

(18,500

)

(37,182

)

-

(55,682

)

At 31 December 2024

82,237

685,911

652,590

43,754

1,464,492

NET BOOK VALUE

At 31 December 2024

2,363,021

254,213

432,728

5,929

3,055,891

At 31 December 2023

2,390,164

314,823

411,539

7,906

3,124,432

5.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 January 2024

and 31 December 2024

10,000

NET BOOK VALUE

At 31 December 2024

10,000

At 31 December 2023

10,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

81,126

71,718

Other debtors

253

253

VAT

53,500

67,846

Prepayments and accrued income

5,334

3,837

140,213

143,654

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

62,251

1,026,384

Hire purchase contracts

128,860

102,580

Trade creditors

155,311

272,112

Tax

456

456

Other creditors

6,000

21,885

Directors' current accounts

397,918

479,353

Accrued expenses

10,945

9,945

761,741

1,912,715

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans - 1-2 years

26,204

9,400

Bank loans - 2-5 years

997,228

30,000

Bank loans more 5 yr by instal

187,170

194,632

Bank loans more 5 yrs non-inst

1,466,450

1,466,450

Hire purchase contracts

167,611

186,307

2,844,663

1,886,789

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

1,466,450

1,466,450

Repayable by instalments

Bank loans more 5 yr by instal

187,170

194,632

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank overdrafts

37,740

1,017,620

Bank loans

2,701,563

1,709,246

Hire purchase

296,471

277,101

3,035,774

3,003,967

Bank loans and overdrafts are secured by a fixed charge over the company's freehold land and buildings, fixtures and fittings and fixed plant and machinery. Additionally there is a floating charge over stock and moveable plant and machinery.

Hire purchase loans are secured by the relevant asset.