REGISTERED NUMBER: 03509832 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

NEW HOUSE FARM (BODIAM) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTORS:

J D Lovering

B J Lovering

SECRETARY:

B J Lovering

REGISTERED OFFICE:

Linden House

Linden Close

Tunbridge Wells

Kent

TN4 8HH

REGISTERED NUMBER:

03509832 (England and Wales)

ACCOUNTANTS:

BSR Bespoke Chartered Accountants

Linden House

Linden Close

Tunbridge Wells

Kent

TN4 8HH

FIXED ASSETS

Tangible assets

4

6,899,100

7,295,700

Investment property

5

7,511,278

7,271,726

14,410,378

14,567,426

CURRENT ASSETS

Stocks

6

154,514

178,293

Debtors

7

143,395

270,846

Cash at bank

33,331

24,792

331,240

473,931

CREDITORS

Amounts falling due within one year

8

955,169

5,313,673

NET CURRENT LIABILITIES

(623,929

)

(4,839,742

)

TOTAL ASSETS LESS CURRENT LIABILITIES

13,786,449

9,727,684

CREDITORS

Amounts falling due after more than one year

9

(9,642,349

)

(5,434,060

)

PROVISIONS FOR LIABILITIES

(35,071

)

(42,225

)

NET ASSETS

4,109,029

4,251,399

CAPITAL AND RESERVES

Called up share capital

10

7,120,000

7,120,000

Share premium

11

550,000

550,000

Retained earnings

11

(3,560,971

)

(3,418,601

)

SHAREHOLDERS' FUNDS

4,109,029

4,251,399

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 30 September 2025 and were signed on its behalf by:

J D Lovering - Director

1.	STATUTORY INFORMATION

New House Farm (Bodiam) 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.

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

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 as modified by the revaluation of certain assets.

Turnover

Turnover is recognised when it is probable that future economic benefits will flow to the company from its rental agreements and is measured as the fair value of consideration which the company expects to receive from those transactions.

Turnover also represents net sales of goods and services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

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

-

not provided

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Vineyard

-

not provided

Tangible fixed assets are initially measured at cost price, this can include transport, installation, legal and other such associated costs. After initial recognition the asset is subsequently measured under the cost model of cost, less depreciation, less any impairment losses.

Subsequent day-to-day servicing of the assets will be recognised in the profit or loss in the period they are incurred. Only subsequent expenditure that can provide an incremental benefit will be capitalised.

Investment property

Investment properties are included in the balance sheet at their fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Cattle stocks are valued at deemed cost. Vineyard stocks represent the production and growing costs incurred on the vineyard.

Income from crop sales has been recognised in the year that they were sold. That part of the harvest that remains unsold as at 30 September 2023 has been treated as closing stock and valued at its estimated cost of production based on market value at 30 September in accordance with HMRC guidelines.

Financial instruments

The company enters into basic financial instruments that give rise to financial assets and financial liabilities

including trade and other debtors, trade and other creditors, bank account balances, bank loans and other loans and borrowings and investments in certain non puttable and non convertible equity instruments.

Debt instruments which are not payable or receivable within one year are initially accounted for at the transaction price and are subsequently accounted for at amortised cost using the effective interest method. Debt instruments payable and receivable within one year are measured at their undiscounted cash amounts. Where the debt instruments are treated as a financing transaction, then the financial asset or liability is measured at the present value of future cash flows based on a market rate of interest. Debt instruments which are treated as financial assets and accounted for at amortised cost are also assessed for impairment.

Equity instruments are initially accounted for at transaction price. They are subsequently accounted for at cost unless they can be accounted for at fair value based on a readily available market price or fair value. Equity instruments which are treated as financial assets and accounted for at cost are also assessed for impairment.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Vineyard

Totals

£

£

£

£

£

COST OR VALUATION

At 1 October 2023

6,279,630

630,586

65,885

826,019

7,802,120

Additions

71,145

-

-

-

71,145

Disposals

(366,000

)

(156,499

)

-

-

(522,499

)

At 30 September 2024

5,984,775

474,087

65,885

826,019

7,350,766

DEPRECIATION

At 1 October 2023

37,967

424,795

43,658

-

506,420

Charge for year

19,260

31,659

3,334

-

54,253

Eliminated on disposal

-

(109,007

)

-

-

(109,007

)

At 30 September 2024

57,227

347,447

46,992

-

451,666

NET BOOK VALUE

At 30 September 2024

5,927,548

126,640

18,893

826,019

6,899,100

At 30 September 2023

6,241,663

205,791

22,227

826,019

7,295,700

Included within freehold land & buildings are freehold buildings which are not depreciated on the basis that the properties' residual values are greater than their original cost. Annual impairment reviews are regularly carried out by the director to ensure the assets are maintained at their book value.

Cost or valuation at 30 September 2024 is represented by:

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Vineyard

Totals

£

£

£

£

£

Valuation in 2020

(440,510

)

-

-

-

(440,510

)

Cost

6,425,285

474,087

65,885

826,019

7,791,276

5,984,775

474,087

65,885

826,019

7,350,766

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2023

7,271,726

Additions

239,552

At 30 September 2024

7,511,278

NET BOOK VALUE

At 30 September 2024

7,511,278

At 30 September 2023

7,271,726

Fair value at 30 September 2024 is represented by:

£

Valuation in 2018

60,842

Valuation in 2019

111,314

Valuation in 2020

(80,477

)

Cost

7,419,599

7,511,278

Investment property was valued on an open market basis on 30 September 2021 by the directors.

6.

STOCKS

30.9.24

30.9.23

£

£

Stocks

154,514

178,293

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Other debtors

6,571

127,440

Deferred tax

118,627

118,627

VAT

18,197

10,136

Prepayments and accrued income

-

14,643

143,395

270,846

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Other loans

437,227

812,227

Hire purchase contracts

12,791

19,577

Trade creditors

7,864

5,303

Directors' loan accounts

485,001

4,461,080

Accrued expenses

12,286

15,486

955,169

5,313,673

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.24

30.9.23

£

£

Hire purchase contracts

9,887

22,678

Other creditors

6,611,382

5,411,382

Directors' loan accounts

3,021,080

-

9,642,349

5,434,060

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.24

30.9.23

value:

£

£

7,120,000

Ordinary

£1

7,120,000

7,120,000

11.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 October 2023

(3,418,601

)

550,000

(2,868,601

)

Deficit for the year

(142,370

)

(142,370

)

At 30 September 2024

(3,560,971

)

550,000

(3,010,971

)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of New House Farm (Bodiam) Limited for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of New House Farm (Bodiam) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of New House Farm (Bodiam) Limited and state those matters that we have agreed to state to the Board of Directors of New House Farm (Bodiam) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than New House Farm (Bodiam) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that New House Farm (Bodiam) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of New House Farm (Bodiam) Limited. You consider that New House Farm (Bodiam) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of New House Farm (Bodiam) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

BSR Bespoke Chartered Accountants

Linden House

Linden Close

Tunbridge Wells

Kent

TN4 8HH

30 September 2025