Company No: 11605430 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	0		146
Tangible assets	4	2,433,362		2,405,624
Investment property	5	400,000		400,000
Investments	6	100		100
		2,833,462		2,805,870
Current assets
Debtors	7	137,294		250,597
Cash at bank and in hand		5,480		3,064
		142,774		253,661
Creditors: amounts falling due within one year	8	( 157,135)		( 92,865)
Net current (liabilities)/assets		(14,361)		160,796
Total assets less current liabilities		2,819,101		2,966,666
Creditors: amounts falling due after more than one year	9	( 1,867,230)		( 1,927,081)
Provision for liabilities		( 17,494)		5,816
Net assets		934,377		1,045,401
Capital and reserves
Called-up share capital	10	100		100
Profit and loss account		934,277		1,045,301
Total shareholders' funds		934,377		1,045,401

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges 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 Grove Farm Holdings Limited (registered number: 11605430) were approved and authorised for issue by the Director on 30 September 2025. They were signed on its behalf by:

Mr M H Haskett 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

Grove Farm Holdings 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 Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, 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 £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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 over its expected useful life, as follows:

Land and buildings	not depreciated
	50 years straight line
Plant and machinery etc.	15 % 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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 January 2024	7,489		7,489
Disposals	( 7,489)		( 7,489)
At 31 December 2024	0		0
Accumulated amortisation
At 01 January 2024	7,343		7,343
Disposals	( 7,343)		( 7,343)
At 31 December 2024	0		0
Net book value
At 31 December 2024	0		0
At 31 December 2023	146		146

4. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 January 2024	2,395,730		32,830		2,428,560
Additions	34,422		0		34,422
At 31 December 2024	2,430,152		32,830		2,462,982
Accumulated depreciation
At 01 January 2024	8,000		14,936		22,936
Charge for the financial year	4,000		2,684		6,684
At 31 December 2024	12,000		17,620		29,620
Net book value
At 31 December 2024	2,418,152		15,210		2,433,362
At 31 December 2023	2,387,730		17,894		2,405,624

5. Investment property

	Investment property
	£
Valuation
As at 01 January 2024	400,000
As at 31 December 2024	400,000

The fair value of investment property has been arrived at on the basis of a valuation carried out at 31 December 2024 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

6. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 January 2024	100
At 31 December 2024	100
Carrying value at 31 December 2024	100
Carrying value at 31 December 2023	100

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.12.2024	Ownership 31.12.2023
Martin Haskett Agricultural Contractors Limited	Blackbrook Gate 1, TA1 2PX, England	Crop production support activities	Ordinary shares	100.00%	100.00%

7. Debtors

	2024		2023
	£		£
Prepayments	1,280		970
VAT recoverable	5,566		0
Other debtors	130,448		249,627
	137,294		250,597

8. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	59,994		30,219
Other taxation and social security	0		94
Other creditors	97,141		62,552
	157,135		92,865

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

	2024		2023
	£		£
Bank loans (secured)	1,867,230		1,927,081

The bank loans are secured by way of a fixed and floating charge over all assets owned by the company.

10. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
95 Ordinary A shares of £ 1.00 each	95		95
5 Ordinary B shares of £ 1.00 each	5		5
	100		100

11. Related party transactions

Other related party transactions

Included in within other debtors is a loan due from an associated company of £106,979 (2023 - Other creditor of £218,177). The loan is interest free and repayable on demand.