Company No: 00581503 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	2,009,021		2,068,363
		2,009,021		2,068,363
Current assets
Stocks	4	441,861		461,137
Debtors	5	251,677		225,808
Cash at bank and in hand		49,972		199,973
		743,510		886,918
Creditors: amounts falling due within one year	6	( 131,622)		( 139,486)
Net current assets		611,888		747,432
Total assets less current liabilities		2,620,909		2,815,795
Provision for liabilities		( 293,015)		( 329,978)
Net assets		2,327,894		2,485,817
Capital and reserves
Called-up share capital		70,000		70,000
Profit and loss account		2,257,894		2,415,817
Total shareholders' funds		2,327,894		2,485,817

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.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of W.R. Curnick Ltd (registered number: 00581503) were approved and authorised for issue by the Board of Directors on 07 October 2025. They were signed on its behalf by:

T W Curnick Director

I S Curnick Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

W.R. Curnick Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Southgrove Farm, Burbage, Marlborough, SN8 3RX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of crops and manure. Turnover is shown net of VAT and is recognised at the point of dispatch.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Other operating income

Other operating income comprises the fair value of the consideration received or receivable regarding rental income, wayleaves and the release of BPS entitlements. Other income is shown net of VAT and is recognised on an accruals basis.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	0 - 10 years straight line
Plant and machinery	15 - 20 % reducing balance
Vehicles	15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Biological assets

Biological assets not held for continuing use within the business are classified as current assets. Such assets are measured at cost less accumulated impairment. Assets within this classification comprise tillages.

Stocks

Stocks comprising agricultural produce (i.e. crops in store), growing crops and deadstock such as fertiliser are stated at the lower of cost and estimated selling price less costs to complete and sell. Agricultural produce (i.e. crops in store) harvested from biological assets are measured at the point of harvest. Current biological assets of growing crops are recognised within stock.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in other operating income over the period in which the related costs are recognised, and timing differences are presented as other debtors or deferred income within the balance sheet. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	9		9

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Total
	£		£		£		£
Cost
At 01 April 2024	1,496,063		3,761,381		69,789		5,327,233
Additions	11,597		129,477		76,579		217,653
Disposals	0		( 41,880)		( 27,965)		( 69,845)
At 31 March 2025	1,507,660		3,848,978		118,403		5,475,041
Accumulated depreciation
At 01 April 2024	732,337		2,473,613		52,920		3,258,870
Charge for the financial year	20,429		220,323		1,299		242,051
Disposals	0		( 15,147)		( 19,754)		( 34,901)
At 31 March 2025	752,766		2,678,789		34,465		3,466,020
Net book value
At 31 March 2025	754,894		1,170,189		83,938		2,009,021
At 31 March 2024	763,726		1,287,768		16,869		2,068,363

4. Stocks

	2025		2024
	£		£
Crops	386,583		408,681
Other stock	55,278		52,456
	441,861		461,137

Current biological assets included in crops comprises of £244,506 worth of growing crops (2024: £332,163). Other stock is that of deadstock.

5. Debtors

	2025		2024
	£		£
Trade debtors	163,433		171,541
Other debtors	88,244		54,267
	251,677		225,808

Included within other debtors are prepayments, accrued income, and VAT.

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	119,966		111,464
Other creditors	11,656		28,022
	131,622		139,486