Registration number: 07654252

Lockington Farms Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 8

Lockington Farms Limited

Company Information

Director

Mr Charles H C Coaker

Registered office

Hall Farm Lockington Derby DE74 2RH

Lockington Farms Limited

(Registration number: 07654252)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	1	1
Tangible assets	5	529,417	534,312
		529,418	534,313
Current assets
Stocks		-	123,300
Debtors	6	159,466	140,543
Cash at bank and in hand		281,884	133,710
		441,350	397,553
Creditors: Amounts falling due within one year	7	(116,650)	(105,884)
Net current assets		324,700	291,669
Total assets less current liabilities		854,118	825,982
Provisions for liabilities		(10,079)	(11,303)
Net assets		844,039	814,679
Capital and reserves
Called up share capital	8	100	100
Retained earnings		843,939	814,579
Shareholders' funds		844,039	814,679

For the financial year ending 31 March 2025 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 accounts for the year in question in accordance with section 476; and
•	The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 September 2025
 

......................................... Mr Charles H C Coaker Director

Lockington Farms Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 07654252.

These financial statements cover the individual entity, Lockington Farms Limited.

The address of its registered office is:
Hall Farm
Lockington
Derby
DE74 2RH

These financial statements were authorised for issue by the director on 24 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the company and have been rounded to the nearest pound.

Revenue recognition

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 sales/value added tax, returns, rebates and discounts.

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.

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Basic farm payment is received in respect of calendar years. Receipt is contingent upon meeting certain eligibility criteria. Once the criteria have been met the income is recognised on a time apportioned basis over the calendar year to which it relates.

Lockington Farms Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.


Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Self propelled machinery	10% reducing balance basis
Implements	10% reducing balance basis
Motor vehicles	25% reducing balance basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
BPS Entitlements	Straight line over 3 years

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Lockington Farms Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Stocks

The basis of valuation is as follows:

Raw materials and consumables are stated at lower of the cost or net book value.
Tenantright is calculated by a combination of actual costs incurred and standard costs.
Produce on hand is valued at standard cost.

The basis of valuation is consistent with previous years.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 3 (2024 - 3).

Lockington Farms Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	BPS Entitlements  £	Total £
Cost or valuation
At 1 April 2024	1,710	1,710
At 31 March 2025	1,710	1,710
Amortisation
At 1 April 2024	1,709	1,709
At 31 March 2025	1,709	1,709
Carrying amount
At 31 March 2025	1	1
At 31 March 2024	1	1

Lockington Farms Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5	Tangible assets

	Land and buildings £	Implements £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	489,100	135,018	9,840	633,958
Disposals	-	-	(9,840)	(9,840)
At 31 March 2025	489,100	135,018	-	624,118
Depreciation
At 1 April 2024	-	90,221	9,425	99,646
Charge for the year	-	4,480	-	4,480
Eliminated on disposal	-	-	(9,425)	(9,425)
At 31 March 2025	-	94,701	-	94,701
Carrying amount
At 31 March 2025	489,100	40,317	-	529,417
At 31 March 2024	489,100	44,797	415	534,312

Included within the net book value of land and buildings above is £489,100 (2024 - £489,100) in respect of freehold land and buildings.
 

Lockington Farms Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Debtors

Current	2025 £	2024 £
Trade debtors	14,622	85,907
Prepayments	1,483	2,137
Other debtors	143,361	52,499
	159,466	140,543

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings		26,526	33,472
Trade creditors		73,002	41,349
Taxation and social security		9,725	12,053
Accruals and deferred income		7,385	18,845
Other creditors		12	165
		116,650	105,884

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100