R. Dunthorne Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03081046

R. Dunthorne Limited

Unaudited financial statements

17 January 2025

R. Dunthorne Limited

Statement of financial position

17 January 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	6	7,356,398	6,611,095
Investments	7	50	50
		-----------	-----------
		7,356,448	6,611,145

Current assets

Stocks		572,484	451,816
Debtors	8	385,345	258,148
Cash at bank and in hand		506,118	1,637,265
		-----------	-----------
		1,463,947	2,347,229

Creditors: Amounts falling due within one year	9	( 329,378)		( 494,647)
		-----------		-----------
Net current assets			1,134,569		1,852,582
			-----------		-----------
Total assets less current liabilities			8,491,017		8,463,727

Creditors: Amounts falling due after more than one year	10		( 78,357)		( 98,493)

Provisions

Taxation including deferred tax	( 422,044)	( 478,216)
	-----------	-----------
Net assets	7,990,616	7,887,018
	-----------	-----------

Capital and reserves

Called up share capital	100	100
Profit and loss account	7,990,516	7,886,918
	-----------	-----------
Shareholder funds	7,990,616	7,887,018
	-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 17 January 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

R. Dunthorne Limited

Statement of financial position (continued)

17 January 2025

These financial statements were approved by the board of directors and authorised for issue on 6 October 2025 , and are signed on behalf of the board by:

P Dunthorne
Director

Company registration number: 03081046

R. Dunthorne Limited

Notes to the financial statements

Year ended 17 January 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hill House Farm, Limpenhoe, Cantley, Norwich, Norfolk.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Cattle sheds and grainstore	-	4% straight line
Plant and machinery	-	25% reducing balance
Motor vehicles	-	25% reducing balance

Freehold land is not depreciated

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Stocks

Commodity stocks, livestock and cultivations are valued at the lower of cost and net realisable value by the director, after making due allowance for obsolete and slow moving items. The valuation of crops in store, livestock and cultivations includes an element of depreciation.

Government grants

Included within other income is the Basic Payment environmental grant and Environmental Stewardship grant totalling £326,461 (2024 - £215,661) receivable from The Rural Payments Agency under European Common Agricultural Policy regulations. Without this income, there would have been a loss for the year before tax of £170,029 (2024 - £502,955). Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

4. Employee numbers

The average number of employees during the year was 8 (2024: 8 ).

5. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	95,133	113,272
Adjustments in respect of prior periods	13,873	–
	---------	---------
Total current tax	109,006	113,272
	---------	---------

Deferred tax:

Origination and reversal of timing differences	( 56,172)	164,895
	-------	---------
Tax on profit	52,834	278,167
	-------	---------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 23.80 %).

The differences are explained below:-

	2025	2024
	£	£
Profit on ordinary activities before taxation	156,432	718,616
	---------	---------
Profit on ordinary activities by rate of tax	39,108	171,031
Effect of expenses not deductible for tax purposes	( 1,477)	19,393
Effect of capital allowances and depreciation	57,502	( 77,152)
Additional corporation tax due in respect of rollover relief not fully satisfied	13,873	–
Deferred tax movement	( 56,172)	164,895
	---------	---------
Tax on profit	52,834	278,167
	---------	---------

6. Tangible assets

	Land and buildings	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 18 January 2024	5,636,739	2,124,940	107,577	7,869,256
Additions	975,311	113,701	–	1,089,012
Disposals	–	( 84,400)	–	( 84,400)
	-----------	-----------	---------	-----------
At 17 January 2025	6,612,050	2,154,241	107,577	8,873,868
	-----------	-----------	---------	-----------
Depreciation
At 18 January 2024	130,109	1,057,978	70,074	1,258,161
Charge for the year	37,127	261,862	9,376	308,365
Disposals	–	( 49,056)	–	( 49,056)
	-----------	-----------	---------	-----------
At 17 January 2025	167,236	1,270,784	79,450	1,517,470
	-----------	-----------	---------	-----------
Carrying amount
At 17 January 2025	6,444,814	883,457	28,127	7,356,398
	-----------	-----------	---------	-----------
At 17 January 2024	5,506,630	1,066,962	37,503	6,611,095
	-----------	-----------	---------	-----------

Land marshes and cottages included with Land and buildings are not depreciated.

7. Investments

	Other investments other than loans
	£
Cost
At 18 January 2024 and 17 January 2025	50
	----
Impairment
At 18 January 2024 and 17 January 2025	–
	----

Carrying amount
At 17 January 2025	50
	----
At 17 January 2024	50
	----

8. Debtors

	2025	2024
	£	£
Trade debtors	337,173	184,718
Other debtors	48,172	73,430
	---------	---------
	385,345	258,148
	---------	---------

9. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	106,923	157,645
Trade creditors	66,065	136,563
Social security and other taxes	115,502	122,833
Other creditors	40,888	77,606
	---------	---------
	329,378	494,647
	---------	---------

The bank loans and overdrafts are secured against assets held by the company.

10. Creditors: Amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	78,357	98,493
	-------	-------

11. Government grants

The amounts recognised in the financial statements for government grants are as follows:

	2025	2024
	£	£

Recognised in other operating income:

Government grants recognised directly in income	326,461	215,661
	---------	---------

12. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Later than 5 years	33,690	50,740
	-------	-------