Company registration number 00369915 (England and Wales)
J & H ROBINSON (IFORD FARMS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
One Bell Lane
Lewes
East Sussex
BN7 1JU
J & H ROBINSON (IFORD FARMS) LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 13
J & H ROBINSON (IFORD FARMS) LIMITED
COMPANY INFORMATION
- 1 -
Directors
J H Robinson
G A Robinson
W J Robinson
M E Robinson
B D Taylor
Secretary
Mrs G A Robinson
Company number
00369915
Registered office
Sutton House
Iford
Lewes
East Sussex
BN7 3EU
Accountants
TC Group
One Bell Lane
Lewes
East Sussex
BN7 1JU
Bankers
Clydesdale Bank PLC
Moseley's Farm
Bury St Edmunds
Suffolk
IP28 6JY
J & H ROBINSON (IFORD FARMS) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
33,237,802
34,060,022
Investment property
4
14,206,250
13,988,500
Investments
5
17,037
17,037
47,461,089
48,065,559
Current assets
Stocks
805,927
892,935
Debtors
6
1,844,736
1,011,115
Cash at bank and in hand
30,117
15,561
2,680,780
1,919,611
Creditors: amounts falling due within one year
7
(3,231,150)
(4,127,112)
Net current liabilities
(550,370)
(2,207,501)
Total assets less current liabilities
46,910,719
45,858,058
Creditors: amounts falling due after more than one year
8
(11,922,849)
(10,256,290)
Provisions for liabilities
(4,791,631)
(4,903,671)
Net assets
30,196,239
30,698,097
Capital and reserves
Called up share capital
10
25,603
25,603
Revaluation reserve
27,519,335
27,956,641
Capital redemption reserve
52,487
52,487
Profit and loss reserves
2,598,814
2,663,366
Total equity
30,196,239
30,698,097
J & H ROBINSON (IFORD FARMS) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 3 -

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 11 September 2025 and are signed on its behalf by:
J H Robinson
B D Taylor
Director
Director
Company registration number 00369915 (England and Wales)
J & H ROBINSON (IFORD FARMS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
1
Accounting policies
Company information

J & H Robinson (Iford Farms) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Sutton House, Iford, Lewes, East Sussex, BN7 3EU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the sale crops, livestock and other farm income provided in the normal course of business, and is shown net of VAT and other sales related taxes.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets and investment properties are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Farm property
Nil
Swanborough
Nil
Plant and machinery
20% and 25% reducing balance
Motor vehicles
25% reducing balance
Biological asset
Nil
J & H ROBINSON (IFORD FARMS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stocks

Stocks are stated at the lower of cost and net realisable value. Immature animals for eventual entry to the sheep flock have been valued on the basis of cost of breeding and rearing to the balance sheet date or market value, if lower. The balance of stock consisting of live and dead stock, tenant right and cultivations have been included at professional valuations.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

J & H ROBINSON (IFORD FARMS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 6 -
1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

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

J & H ROBINSON (IFORD FARMS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 7 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

J & H ROBINSON (IFORD FARMS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 8 -

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.15
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.16

Beef herd

The animals forming the herd have been valued at the greater of purchase cost or breeding cost together with the cost of rearing to maturity. Replacements are at the herd value of the animal replaced except where the animals are bought in when they are valued at actual purchase cost.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
19
16
J & H ROBINSON (IFORD FARMS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 9 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Biological asset
Total
£
£
£
£
Cost
At 1 April 2024
33,180,405
2,427,248
50,400
35,658,053
Additions
129,355
141,956
2,160
273,471
Disposals
-
0
(168,400)
-
0
(168,400)
Revaluation
(813,188)
-
0
-
0
(813,188)
Transfers
-
0
-
0
-
0
-
0
At 31 March 2025
32,496,572
2,400,804
52,560
34,949,936
Depreciation and impairment
At 1 April 2024
-
0
1,598,031
-
0
1,598,031
Depreciation charged in the year
-
0
229,730
-
0
229,730
Eliminated in respect of disposals
-
0
(115,627)
-
0
(115,627)
At 31 March 2025
-
0
1,712,134
-
0
1,712,134
Carrying amount
At 31 March 2025
32,496,572
688,670
52,560
33,237,802
At 31 March 2024
33,180,405
829,217
50,400
34,060,022

The carrying value of land and buildings comprises:

2025
2024
£
£
Freehold land and buildings
30,307,270
30,991,103
Swanborough Lodges development
2,189,302
2,189,302
32,496,572
33,180,405

The freehold land and buildings have been valued by the directors at market value subject to tenancy and agricultural occupancy conditions at 31 March 2025.

The Swanborough Lodge development has been valued by the directors as at 31 March 2025 at open market value.

J & H ROBINSON (IFORD FARMS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 10 -
4
Investment property
2025
£
Fair value
At 1 April 2024
13,988,500
Revaluations
217,750
At 31 March 2025
14,206,250

Investment property comprises properties available for commercial rent. The fair value of the investment property has been arrived at on the basis of an assessment carried out at 31 March 2025 by the directors. The valuation was made on an open market value basis based on vacant possession & agricultural occupancy (if appropriate) and by reference to market evidence of transaction prices for similar properties.

5
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
17,001
17,001
Other investments other than loans
36
36
17,037
17,037
Fixed asset investments not carried at market value

Fixed asset investments consist of investment in subsidiary undertaking £17,001 (2024 - £17,001) and unlisted shares held £36 (2024 - £36) and are shown at cost. It is not possible to obtain an accurate market value for these assets.

6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
456,009
220,369
Corporation tax recoverable
86,023
86,023
Amounts owed by group undertakings
674,104
63,343
Other debtors
628,600
641,380
1,844,736
1,011,115
J & H ROBINSON (IFORD FARMS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 11 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
616,563
3,230,728
Trade creditors
143,507
211,458
Taxation and social security
334,898
30,021
Other creditors
2,136,182
654,905
3,231,150
4,127,112

The bank loans and overdrafts are secured on the assets of the company. Net obligations under hire purchase contracts are secured on the assets acquired.

8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
11,920,486
10,225,078
Obligations under finance leases
-
0
28,432
Deferred income
2,363
2,780
11,922,849
10,256,290

The bank loans are secured on the assets of the company. Net obligations under hire purchase contracts are secured on the assets acquired.

Amounts included above which fall due after five years are as follows:
Payable by instalments
9,420,891
9,564,260
J & H ROBINSON (IFORD FARMS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 12 -
9
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
106,843
135,460
Tax losses
(49,852)
(124,561)
Revaluations
2,451,817
2,649,226
Investment property
2,282,823
2,243,546
4,791,631
4,903,671
2025
Movements in the year:
£
Liability at 1 April 2024
4,903,671
Charge to profit or loss
85,369
Credit to other comprehensive income
(197,409)
Liability at 31 March 2025
4,791,631
10
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
25,603
25,603
25,603
25,603
J & H ROBINSON (IFORD FARMS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 13 -
11
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Interest charged
Amounts repaid
Closing balance
£
£
£
£
W J Robinson -
2.50
253,855
3,800
(250,296)
7,359
253,855
3,800
(250,296)
7,359
12
Parent company

The ultimate parent company is Iford Estate Limited, a company incorporated in England and Wales. The registered office of the parent company is Sutton House, Iford, Lewes, East Sussex, BN7 3EU.

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