REGISTERED NUMBER: 05463452 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

S F R FARMING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S F Roberts

REGISTERED OFFICE:

Town House Farm

Clotton

Tarporley

Cheshire

CW6 0EG

REGISTERED NUMBER:

05463452 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,644,435

996,993

1,644,435

996,993

CURRENT ASSETS

Stocks

1,011,754

871,320

Debtors

6

385,756

364,006

1,397,510

1,235,326

CREDITORS

Amounts falling due within one year

7

1,293,674

798,272

NET CURRENT ASSETS

103,836

437,054

TOTAL ASSETS LESS CURRENT LIABILITIES

1,748,271

1,434,047

CREDITORS

Amounts falling due after more than one year

8

(83,441

)

(122,963

)

PROVISIONS FOR LIABILITIES

(256,523

)

(246,033

)

NET ASSETS

1,408,307

1,065,051

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

10

1,408,207

1,064,951

SHAREHOLDERS' FUNDS

1,408,307

1,065,051

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 director acknowledges his 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 director and authorised for issue on 7 August 2025 and were signed by:

S F Roberts - Director

1.	STATUTORY INFORMATION

S F R Farming 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 (£).

Transactions are rounded to the nearest £.

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 represents net invoiced sales of goods, excluding value added tax and is recognised upon despatch of goods.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Milk quota are being amortised evenly over their estimated useful life of eight years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Tenants improvements

-

10% on reducing balance

Implements, machinery & sheds

-

15% on reducing balance

Motor vehicles & tractors

-

25% on reducing balance

Office equipment and computers

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Biological assets, being a dairy herd, are included within stocks at the lower of cost and estimated selling price less costs to sell.

Financial instruments

FINANCIAL ASSETS

Trade, group and other debtors

Trade, group and other debtors (including accrued income) which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.

A provision for impairment of trade debtors is established where there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in profit or loss for the excess of the carrying value of the trade debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in profit or loss.

FINANCIAL LIABILITIES

Trade, group and other creditors

Trade, group and other creditors (including accruals) payable within one year that do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being transaction price less any amounts settled.

Derecognition of financial assets and liabilities

A financial asset is only derecognised when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. A financial liability (or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled or expires.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

121,128

AMORTISATION

At 1 April 2024

and 31 March 2025

121,128

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Tenants

Entitlements

Land

improvements

£

£

£

COST

At 1 April 2024

12,560

-

28,744

Additions

-

690,690

-

Disposals

-

-

-

At 31 March 2025

12,560

690,690

28,744

DEPRECIATION

At 1 April 2024

12,560

-

15,884

Charge for year

-

-

1,286

Eliminated on disposal

-

-

-

At 31 March 2025

12,560

-

17,170

NET BOOK VALUE

At 31 March 2025

-

690,690

11,574

At 31 March 2024

-

-

12,860

Office

Implements,

Motor

equipment

machinery

vehicles

and

& sheds

& tractors

computers

Totals

£

£

£

£

COST

At 1 April 2024

1,862,439

574,099

8,465

2,486,307

Additions

229,220

-

-

919,910

Disposals

(109,700

)

-

-

(109,700

)

At 31 March 2025

1,981,959

574,099

8,465

3,296,517

DEPRECIATION

At 1 April 2024

1,120,054

333,654

7,162

1,489,314

Charge for year

134,246

60,110

195

195,837

Eliminated on disposal

(33,069

)

-

-

(33,069

)

At 31 March 2025

1,221,231

393,764

7,357

1,652,082

NET BOOK VALUE

At 31 March 2025

760,728

180,335

1,108

1,644,435

At 31 March 2024

742,385

240,445

1,303

996,993

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Implements,

Motor

machinery

vehicles

& sheds

& tractors

Totals

£

£

£

COST

At 1 April 2024

119,200

300,125

419,325

Additions

100,120

-

100,120

Transfer to ownership

(85,700

)

-

(85,700

)

At 31 March 2025

133,620

300,125

433,745

DEPRECIATION

At 1 April 2024

49,329

75,031

124,360

Charge for year

17,604

56,273

73,877

Transfer to ownership

(33,069

)

-

(33,069

)

At 31 March 2025

33,864

131,304

165,168

NET BOOK VALUE

At 31 March 2025

99,756

168,821

268,577

At 31 March 2024

69,871

225,094

294,965

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade debtors

349,774

332,828

VAT

35,982

31,178

385,756

364,006

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Bank loans and overdrafts

104,896

34,257

Hire purchase contracts

64,432

79,886

Trade creditors

780,875

597,084

Tax

139,381

42,286

Social security and other taxes

2,590

4,759

Other creditors

161,500

-

Directors' loan accounts

40,000

40,000

1,293,674

798,272

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/25

31/3/24

£

£

Bank loans

2,729

13,111

Hire purchase contracts

63,459

92,539

Directors' loan accounts

17,253

17,313

83,441

122,963

9.	SECURED DEBTS

The company has £127,891 owing at the year end in relation to hire purchase agreements. These debts are secured against the assets which they relate to.

10.

RESERVES

Retained

earnings

£

At 1 April 2024

1,064,951

Profit for the year

357,056

Dividends

(13,800

)

At 31 March 2025

1,408,207

11.	POST BALANCE SHEET EVENTS

Subsequent to the year end the company discontinued its dairy farming operation and disposed of certain related assets. The company will continue to generate revenue from rental of farmland and agricultural contracting. It is not possible to estimate the financial effect at this stage.