REGISTERED NUMBER: 06207531 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Russell Smith Farms Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R G R Smith

Mr E N R Smith

Mr M J R Smith

SECRETARY:

Mr E N R Smith

REGISTERED OFFICE:

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

REGISTERED NUMBER:

06207531 (England and Wales)

ACCOUNTANTS:

Hardcastle Burton LLP

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

FIXED ASSETS

Tangible assets

4

689,000

689,000

CURRENT ASSETS

Valuation

5,364

3,784

Debtors

78,023

78,359

Cash at bank and in hand

20,967

13,088

104,354

95,231

CREDITORS

Amounts falling due within one year

7,172

9,779

NET CURRENT ASSETS

97,182

85,452

TOTAL ASSETS LESS CURRENT LIABILITIES

786,182

774,452

CAPITAL AND RESERVES

Called up share

5

10

10

Revaluation reserve

6

409,343

409,343

Retained earnings

376,829

365,099

SHAREHOLDERS' FUNDS

786,182

774,452

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.

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 18 September 2025 and were signed on its behalf by:

Mr R G R Smith - Director

Mr E N R Smith - Director

1.	STATUTORY INFORMATION

Russell Smith Farms 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 as modified by the revaluation of certain assets.

The financial statements have been prepared on a going concern basis. The Directors consider the basis to be appropriate despite the fact that the balance sheet shows net liabilities at 31st March 2022. The company has sufficient support from its directors and shareholders to meet current liabilities.

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

Turnover

Turnover represents invoiced income from arable crop sales and arable subsidies, excluding value added tax.

Tangible fixed assets

The revaluation model has been adopted for the freehold property.

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.

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.

Hire purchase and leasing commitments

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 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 April 2024

and 31 March 2025

689,000

NET BOOK VALUE

At 31 March 2025

689,000

At 31 March 2024

689,000

The land was initially purchased on 1st February 2011 for £279,657. The directors have concluded that there has been a revaluation of £409,343 leaving a market value of £689,000 on the 31st March 2025.

Cost or valuation at 31 March 2025 is represented by:

Totals

£

Valuation in 2024

409,343

Cost

279,657

689,000

5.	CALLED UP SHARE

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

10

Ordinary

£1

10

10

6.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

409,343