REGISTERED NUMBER: 09992185 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

North Farm Horton (Contracting) Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

2,960,891

3,087,199

CURRENT ASSETS

Stocks

5

6,588

13,692

Debtors

6

187,153

160,454

193,741

174,146

CREDITORS

Amounts falling due within one year

7

545,902

753,449

NET CURRENT LIABILITIES

(352,161

)

(579,303

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,608,730

2,507,896

CREDITORS

Amounts falling due after more than one year

8

(2,145,004

)

(1,890,960

)

PROVISIONS FOR LIABILITIES

(151,502

)

(184,449

)

NET ASSETS

312,224

432,487

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

311,224

431,487

312,224

432,487

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Profit and Loss Account 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:

Mrs V J Snell - Director

1.	STATUTORY INFORMATION

North Farm Horton (Contracting) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

09992185

Registered office:

North Farm

Horton

Wimborne

Dorset

BH21 7HL

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.

Plant and machinery

-

15% on reducing balance

Agricultural vehicles

-

15% on reducing balance

Stocks

Stock is valued at the lower of cost and net realisable value. Home grown produce has been valued in accordance with H M Revenue & Customs guidance HS232.

Financial instruments

Classification

The company holds the following financial instruments:

Short term debtors and creditors;

Cash and bank balances.

All financial instruments are classified as basic.

Recognition and measurement

The company has elected to apply the provisions FRS102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transition costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern

The company is dependent on the continued financial support of the directors and its bankers through the use of an overdraft facility and loan account. On the basis that this support will continue, the accounts have been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Agricultural

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2024

1,861,994

2,693,532

4,555,526

Additions

200,423

549,628

750,051

Disposals

(170,722

)

(809,338

)

(980,060

)

At 31 March 2025

1,891,695

2,433,822

4,325,517

DEPRECIATION

At 1 April 2024

751,257

717,070

1,468,327

Charge for year

160,374

179,785

340,159

Eliminated on disposal

(84,022

)

(359,838

)

(443,860

)

At 31 March 2025

827,609

537,017

1,364,626

NET BOOK VALUE

At 31 March 2025

1,064,086

1,896,805

2,960,891

At 31 March 2024

1,110,737

1,976,462

3,087,199

5.

STOCKS

2025

2024

£

£

Stocks

6,588

13,692

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

63,436

115,077

Prepayments and accrued income

123,717

45,377

187,153

160,454

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

69,956

83,389

Hire purchase contracts

416,547

582,566

Trade creditors

26,552

66,260

VAT

13,193

1,189

Other creditors

15,459

15,780

Accruals and deferred income

4,195

4,265

545,902

753,449

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Interbusiness loan

1,181,278

977,647

Hire purchase contracts

963,726

913,313

2,145,004

1,890,960

Amounts falling due in more than five years:

Repayable by instalments

Hire purchase

112,651

26,205

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

69,956

72,469

Bank loans

-

10,920

Hire purchase contracts

1,380,273

1,495,879

1,450,229

1,579,268

The directors have pledged personal guarantees as security for the company's bank loans and overdrafts.

Hire purchase agreements are secured on the assets to which they relate.