REGISTERED NUMBER: 03464978 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

LKR Farms Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

1,704,157

1,732,851

Investments

5

120

120

Biological assets

6

463,314

341,472

2,167,591

2,074,443

CURRENT ASSETS

Stocks

7

152,910

272,071

Debtors

8

42,946

58,063

Prepayments and accrued income

6,338

5,672

202,194

335,806

CREDITORS

Amounts falling due within one year

9

739,538

749,976

NET CURRENT LIABILITIES

(537,344

)

(414,170

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,630,247

1,660,273

CREDITORS

Amounts falling due after more than one year

10

(944,570

)

(1,002,844

)

PROVISIONS FOR LIABILITIES

(49,525

)

(21,983

)

NET ASSETS

636,152

635,446

CAPITAL AND RESERVES

Called up share capital

800

800

Retained earnings

635,352

634,646

SHAREHOLDERS' FUNDS

636,152

635,446

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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 October 2025 and were signed on its behalf by:

Mr R Smith - Director

Mr D B Smith - Director

Mrs C W Smith - Director

1.	STATUTORY INFORMATION

LKR Farms Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

03464978

Registered office:

Lower Kingston Russell Farm

Long Bredy

Dorchester

Dorset

DT2 9HS

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

Land 0% and Buildings 0%

Improvements to property

-

20% on reducing balance, 5% on reducing balance and 2% on reducing balance

Plant and machinery

-

33% on cost, 25% on cost and 25% on reducing balance

Tractors

-

20% on reducing balance

Stocks

Biological non current assets

Biological non current assets are valued at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Dairy cows

-

20% straight line

Bulls

-

20% straight line

Financial instruments

Classification

The company holds the following financial instruments:

Short term debtors and creditors;

Cash and bank balances; and

Unlisted investments.

All financial instruments are classified as basic.

Recognition and measurement

The company has elected to apply the provisions FRS102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transition costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

Tractors

Totals

£

£

£

£

£

COST

At 1 April 2024

1,483,629

539,232

241,329

75,995

2,340,185

Additions

2,604

-

-

-

2,604

At 31 March 2025

1,486,233

539,232

241,329

75,995

2,342,789

DEPRECIATION

At 1 April 2024

109,200

261,337

190,139

46,658

607,334

Charge for year

-

12,629

12,802

5,867

31,298

At 31 March 2025

109,200

273,966

202,941

52,525

638,632

NET BOOK VALUE

At 31 March 2025

1,377,033

265,266

38,388

23,470

1,704,157

At 31 March 2024

1,374,429

277,895

51,190

29,337

1,732,851

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

and 31 March 2025

120

NET BOOK VALUE

At 31 March 2025

120

At 31 March 2024

120

6.	BIOLOGICAL ASSETS

Dairy

herd

£

COST

At 1 April 2024

415,028

Additions

52,415

Disposals

(142,935

)

At 31 March 2025

324,508

DEPRECIATION

At 1 April 2024

73,556

Eliminated on disposal

(41,133

)

Appreciation

(171,229

)

At 31 March 2025

(138,806

)

NET BOOK VALUE

At 31 March 2025

463,314

At 31 March 2024

341,472

7.

STOCKS

2025

2024

£

£

Stocks

152,910

272,071

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

42,946

41,257

VAT

-

16,806

42,946

58,063

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

434,191

383,560

Hire purchase contracts

15,327

17,810

Trade creditors

50,470

121,846

VAT

1,535

-

Other creditors

146,571

156,489

Accrued expenses

91,444

70,271

739,538

749,976

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-5 years

151,621

159,064

Bank loans more 5 yr by instalments

450,781

491,258

Bank loans more 5 yrs non-inst

336,523

331,550

Hire purchase contracts

5,645

20,972

944,570

1,002,844

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

336,523

331,550

Repayable by instalments

Bank loans more 5 yr by instalments

450,781

491,258

11.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

386,911

336,919

Bank loans

986,205

1,028,513

Hire purchase contracts

20,972

38,782

1,394,088

1,404,214

Bank loans and overdrafts are secured by charges over the freehold property of the company.

Hire purchase agreements are secured on the assets to which they relate.

12.	RELATED PARTY DISCLOSURES

The financial statements include a charge from R Smith to LKR Farms Limited of £27,094.19 (2024: £27,583.83) relating to rents of land.