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REGISTERED NUMBER: 00555124 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

G.R. Smith (Thriplow) Limited

| G.R. Smith (Thriplow) Limited (Registered number: 00555124) |

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

| Company Information | 1 |

| Abridged Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| G.R. Smith (Thriplow) Limited |

Company Information

for the Year Ended 31 March 2025

| DIRECTORS: | Mr R G R Smith

| Mr E N R Smith

| SECRETARY: | Mrs C L Smith

| REGISTERED OFFICE: | College Farm

| Grange Road

| Duxford

| Cambridgeshire

| CB22 4QF

| REGISTERED NUMBER: | 00555124 (England and Wales)

| ACCOUNTANTS: | Hardcastle Burton LLP

| Lake House

| Market Hill

| Royston

| Hertfordshire

| SG8 9JN

| G.R. Smith (Thriplow) Limited (Registered number: 00555124) |

Abridged Balance Sheet

31 March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 908,900 |  | 908,900 |  |

Investments | 6 | 6,395,608 |  | 6,234,789 |  |

7,304,508 |  | 7,143,689 |  |

CURRENT ASSETS

Valuation | 44,959 |  | 19,284 |  |

Debtors | 7,197 |  | 5,519 |  |

Cash at bank | 30,811 |  | 11,918 |  |

82,967 |  | 36,721 |  |

CREDITORS

Amounts falling due within one year | 208,862 |  | 83,874 |  |

NET CURRENT LIABILITIES | (125,895 | ) | (47,153 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 7,178,613 |  | 7,096,536 |  |

PROVISIONS FOR LIABILITIES | 21,035 |  | 21,035 |  |

NET ASSETS | 7,157,578 |  | 7,075,501 |  |

CAPITAL AND RESERVES

Called up share | 7 | 20,000 |  | 20,000 |  |

Retained earnings | 7,137,578 |  | 7,055,501 |  |

SHAREHOLDERS' FUNDS | 7,157,578 |  | 7,075,501 |  |

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.

| G.R. Smith (Thriplow) Limited (Registered number: 00555124) |

Abridged Balance Sheet - continued

31 March 2025

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2025 and were signed on its behalf by:

Mr R G R Smith - Director

Mr E N R Smith - Director

| G.R. Smith (Thriplow) Limited (Registered number: 00555124) |

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| G.R. Smith (Thriplow) 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.

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.

| The financial statements have been prepared on a going concern basis. The Directors consider this basis to be appropriate despite the fact that the balance sheet shows net current liabilities at 31 March 2023 the company is generating sufficient cash flows on a weekly basis together with the support of its bank to meet its current liabilities.

| Should the company be unable to continue trading, adjustments would have to be made to adjust the value of assets to their recoverable amount, to provide for any further liabilities which might arise.

| Turnover

| Turnover represents invoiced net income from the sales of Sugar Beet and subsidy income from the Rural Payments Agency based on the area on which Sugar Beet has been grown.

| Intangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its useful economic life.

| BPS Entitlements - Straight line 3 years

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Land |  | - Not depreciated |  |

| Buildings |  | - 10% on cost |  |

| Plant & machinery etc |  | - 25% on reducing balance and |  |

| 20% on reducing balance |  |

| Biological assets

| Biological assets is the valuation of growing and harvested crops. These are valued at the lower of cost and estimated selling price less costs to sell after making due allowance for obsolete or slow moving items.

| G.R. Smith (Thriplow) Limited (Registered number: 00555124) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

| Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

| Basic financial assets

| Basic financial assets, which include debtors, 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.

| Basic financial liabilities

| Basic financial liabilities, including creditors and loans 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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.

| 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.

| Associate undertaking

| The company has entered into a partnership arrangement with one other individual as shown in note 9 below. This comprises an associated undertaking in accordance with FRS 9. The company takes advantage of the small companies exemption not to prepare group accounts.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 1 (2024 - 1 ) .

| G.R. Smith (Thriplow) Limited (Registered number: 00555124) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

4. | INTANGIBLE FIXED ASSETS

| Totals

£ |

| COST

| At 1 April 2024

| and 31 March 2025 | 20,000 |  |

| AMORTISATION

| At 1 April 2024

| and 31 March 2025 | 20,000 |  |

| NET BOOK VALUE

| At 31 March 2025 | - |  |

| At 31 March 2024 | - |  |

| The company has paid a total of £20,000 to secure the subsidy payments through the purchase of SFP Entitlements. This sum is included in Intangible assets.

5. | TANGIBLE FIXED ASSETS

| Totals

£ |

| COST

| At 1 April 2024

| and 31 March 2025 | 945,153 |  |

| DEPRECIATION

| At 1 April 2024

| and 31 March 2025 | 36,253 |  |

| NET BOOK VALUE

| At 31 March 2025 | 908,900 |  |

| At 31 March 2024 | 908,900 |  |

6. | FIXED ASSET INVESTMENTS

| Information on investments other than loans is as follows:

| Totals

£ |

| COST

| At 1 April 2024 | 6,234,789 |  |

| Additions | 282,098 |  |

| Disposals | (121,279 | ) |

| At 31 March 2025 | 6,395,608 |  |

| NET BOOK VALUE

| At 31 March 2025 | 6,395,608 |  |

| At 31 March 2024 | 6,234,789 |  |

| G.R. Smith (Thriplow) Limited (Registered number: 00555124) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

6. | FIXED ASSET INVESTMENTS - continued

| Unlisted investments are presumed to be shares held in a farming co-operative and as such their market value will not be materially different from their cost.

| The partnership investment relates to an interest held in Russell Smith Farms partnership. Additions in the year are net transactions between the partnership and G R Smith (Thriplow) Limited including the profit share received.

7. | CALLED UP SHARE

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.3.25 |  | 31.3.24

| value: | £ | £ |

| 20,000 | Ordinary | £1 | 20,000 |  | 20,000 |  |

8. | CONTINGENT LIABILITIES

| The company's bankers hold a legal charge over land at Elmdon, that is owned by the company, as security for any future amounts owed to them from lending activities. This charge was enacted on 30 July 2009. There is no amount provided for this in the financial statements as there are no current obligations due to the bankers.