| REGISTERED NUMBER: |
| CORPORATION FARMS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31 JANUARY 2025 |
| REGISTERED NUMBER: |
| CORPORATION FARMS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31 JANUARY 2025 |
| CORPORATION FARMS LIMITED (REGISTERED NUMBER: 01368416) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2025 |
| Page |
| Balance Sheet | 1 | to | 2 |
| Notes to the Financial Statements | 3 | to | 6 |
| CORPORATION FARMS LIMITED (REGISTERED NUMBER: 01368416) |
| BALANCE SHEET |
| 31 JANUARY 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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. |
| CORPORATION FARMS LIMITED (REGISTERED NUMBER: 01368416) |
| BALANCE SHEET - continued |
| 31 JANUARY 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| CORPORATION FARMS LIMITED (REGISTERED NUMBER: 01368416) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2025 |
| 1. | STATUTORY INFORMATION |
| Corporation Farms Limited is a |
| Registered number: |
| Registered office: |
| The presentation currency of the financial statements is the Pound Sterling (£) and the financial statements |
| are rounded to the nearest Pound. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 less its residual value, over the useful economic life: |
| Freehold Land and Buildings - Not depreciated |
| Plant & Machinery - 12.5% on cost |
| Revaluation of freehold property |
| The company took advantage of paragraph 35.10(c) of Chapter 35 of FRS 102 to restate its freehold property to fair value as deemed cost upon transition to FRS 102 on 1 January 2014. The property is held at deemed cost, being the fair value at the date of transition, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Any subsequent additions are recognised at cost. |
| The freehold property is not depreciated because any charge would be immaterial based upon the high residual value of the property. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| CORPORATION FARMS LIMITED (REGISTERED NUMBER: 01368416) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Basic financial instruments are recognised at amortised cost. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| CORPORATION FARMS LIMITED (REGISTERED NUMBER: 01368416) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2025 |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Freehold |
| Land and | Plant & |
| Buildings | Machinery | Totals |
| £ | £ | £ |
| COST |
| At 1 February 2024 |
| Additions |
| At 31 January 2025 |
| DEPRECIATION |
| At 1 February 2024 |
| Charge for year |
| At 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| At 31 January 2024 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group | Other |
| undertakings | interests | Totals |
| £ | £ | £ |
| COST |
| At 1 February 2024 |
| and 31 January 2025 | 26,905 | 27,005 |
| NET BOOK VALUE |
| At 31 January 2025 | 26,905 | 27,005 |
| At 31 January 2024 | 26,905 | 27,005 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Amounts due from related undertakings |
| Prepayments and accrued income |
| CORPORATION FARMS LIMITED (REGISTERED NUMBER: 01368416) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2025 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Amounts due to group undertakings |
| Corporation tax |
| Other tax and social security |
| Directors' loan accounts | 5,271 | 5,271 |
| Accruals and deferred income |