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REGISTERED NUMBER: 00193379 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

THE MATSON GROUND ESTATE COMPANY LIMITED

THE MATSON GROUND ESTATE COMPANY LIMITED (REGISTERED NUMBER: 00 |

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| THE MATSON GROUND ESTATE COMPANY LIMITED |

Company Information

for the Year Ended 31 March 2025

| Directors: | F A Scott

| M M Scott

| C R Scott

| Secretary: | Milne Moser Solicitors

| Registered office: | 100

| Highgate

| Kendal

| Cumbria

| LA9 4HE

| Registered number: | 00193379 (England and Wales)

| Accountants: | S&W Partners (Manchester) Limited

| Accountants

| Northern Assurance Buildings

| 9-21 Princess Street

| Manchester

| M2 4DN

| Solicitors: | Milne Moser Solicitors

| 100 Highgate

| Kendal

| Cumbria

| LA9 4HE

THE MATSON GROUND ESTATE COMPANY LIMITED (REGISTERED NUMBER: 00 |

Balance Sheet

31 March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

Fixed assets

Tangible assets | 5 | 3,489,600 |  | 3,565,844 |  |

Investments | 6 | 130,282 |  | 130,282 |  |

3,619,882 |  | 3,696,126 |  |

Current assets

Stocks | 166,243 |  | 142,779 |  |

Debtors | 7 | 606,878 |  | 375,573 |  |

Cash at bank and in hand | 3,797 |  | 611,983 |  |

776,918 |  | 1,130,335 |  |

Creditors

Amounts falling due within one year | 8 | 469,831 |  | 1,278,460 |  |

Net current assets/(liabilities) | 307,087 |  | (148,125 | ) |

Total assets less current liabilities | 3,926,969 |  | 3,548,001 |  |

Creditors

Amounts falling due after more than one year | 9 | 2,090,444 |  | 1,545,082 |  |

Net assets | 1,836,525 |  | 2,002,919 |  |

Capital and reserves

Called up share capital | 11 | 349,993 |  | 349,993 |  |

Capital redemption reserve | 76,509 |  | 76,509 |  |

Retained earnings | 1,410,023 |  | 1,576,417 |  |

Shareholders' funds | 1,836,525 |  | 2,002,919 |  |

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 MATSON GROUND ESTATE COMPANY LIMITED (REGISTERED NUMBER: 00 |

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.

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 29 September 2025 and were signed on its behalf by:

M M Scott - Director

THE MATSON GROUND ESTATE COMPANY LIMITED (REGISTERED NUMBER: 00 |

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | Statutory information

| The Matson Ground Estate Company 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. | Statement of compliance

| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 " The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

3. | Accounting policies

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| Going concern

| The company made a loss for the year but has net current assets of £307,087 and overall net assets of £1,836,525 as at 31 March 2025. The company is dependent, in the absence of other funding on the continued financial support of its directors. The directors have confirmed that they will continue to support the company.

| On this basis the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that might be necessary if the directors were not to provide further support.

| Preparation of consolidated financial statements

| The financial statements contain information about The Matson Ground Estate Company Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

| Significant judgements and estimates

| Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any critical judgements in applying the company's accounting policies. The company makes estimates and assumptions concerning the future. The resulting accounting estimates will by definition, seldom equal the actual results. There are no estimates or assumptions which give a significant risk of causing a material adjustment to the carrying amounts of assets or liabilities within the next financial year.

| Turnover

| Turnover represents amounts invoiced, net of value added tax, in respect of the sale of livestock, ancillary farming products, farm related grants and subsidies and also rents receivable during the year. Livestock and ancillary farming products are recognised as sales on despatch. Grants, subsidies, rents and holiday cottage rentals are recognised on an accruals basis.

| Other operating income

| Other operating income is recognised on an accruals basis.

THE MATSON GROUND ESTATE COMPANY LIMITED (REGISTERED NUMBER: 00 |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

3. | Accounting policies - continued

| 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 | - | no depreciation provided

| Plant and machinery | - | at varying rates on cost and at variable rates on reducing balance

| Fixtures and fittings | - | at varying rates on cost and at variable rates on reducing balance

| Motor vehicles | - | 25% on reducing balance and at varying rates on cost

| Tangible assets are stated at cost less accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.

| No depreciation is provided on land. Freehold buildings have not been depreciated as the directors consider that the amount is immaterial.

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| Investments

| Investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price.

| Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.

| Stocks

| Stocks are professionally valued and included at fair value in accordance with section 34 of FRS 102. Stocks are recognised as an expense in the period in which the related revenue is recognised.

| 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.

| Cash and cash equivalents

| Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

| Leasing commitments

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

THE MATSON GROUND ESTATE COMPANY LIMITED (REGISTERED NUMBER: 00 |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

3. | Accounting policies - continued

| 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.

| Financial instruments

| The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

| a) Financial assets

| Basic financial assets, including trade and other debtors, loans to fellow group companies and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction.

| Such assets are subsequently carried at amortised cost using the effective interest method.

| At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment.The impairment loss is recognised in the profit or loss.

| b) Financial liabilities

| Basic financial liabilities, including trade and other creditors, loans from fellow group companies and bank loans, 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 receipts discounted at a market rate of interest.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Share capital

| Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

4. | Employees and directors

| The average number of employees during the year was 9 (2024 - 8 ) .

5. | Tangible fixed assets

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| Cost

| At 1 April 2024 | 1,241,380 |  | 4,184,111 |  | 5,425,491 |  |

| Additions | - |  | 92,077 |  | 92,077 |  |

| Disposals | - |  | (210,533 | ) | (210,533 | ) |

| At 31 March 2025 | 1,241,380 |  | 4,065,655 |  | 5,307,035 |  |

| Depreciation

| At 1 April 2024 | - |  | 1,859,647 |  | 1,859,647 |  |

| Charge for year | - |  | 167,510 |  | 167,510 |  |

| Eliminated on disposal | - |  | (209,722 | ) | (209,722 | ) |

| At 31 March 2025 | - |  | 1,817,435 |  | 1,817,435 |  |

| Net book value

| At 31 March 2025 | 1,241,380 |  | 2,248,220 |  | 3,489,600 |  |

| At 31 March 2024 | 1,241,380 |  | 2,324,464 |  | 3,565,844 |  |

THE MATSON GROUND ESTATE COMPANY LIMITED (REGISTERED NUMBER: 00 |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

5. | Tangible fixed assets - continued

| Included in cost of land and buildings is freehold land of £ 697,227 (2024 - £ 697,227 ) which is not depreciated.

6. | Fixed asset investments

| Shares in

| group

| undertaking

£ |

| Cost

| At 1 April 2024

| and 31 March 2025 | 130,282 |  |

| Net book value

| At 31 March 2025 | 130,282 |  |

| At 31 March 2024 | 130,282 |  |

7. | Debtors: amounts falling due within one year |

2025 | 2024 |

£ | £ |

| Trade debtors | 128,169 |  | 84,173 |  |

| Amounts owed by group undertakings | 175,634 |  | 207,133 |  |

| Other debtors | 303,075 |  | 84,267 |  |

606,878 |  | 375,573 |  |

8. | Creditors: amounts falling due within one year |

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 64,664 |  | 877,183 |  |

| Hire purchase contracts | 23,703 |  | 17,345 |  |

| Trade creditors | 80,206 |  | 111,625 |  |

| Amounts owed to group undertakings | 94,821 |  | 94,821 |  |

| Taxation and social security | - |  | 3,333 |  |

| Other creditors | 206,437 |  | 174,153 |  |

469,831 |  | 1,278,460 |  |

9. | Creditors: amounts falling due after more than one year |

2025 | 2024 |

£ | £ |

| Bank loans | 477,138 |  | - |  |

| Hire purchase contracts | 11,293 |  | 13,069 |  |

| Other creditors | 1,602,013 |  | 1,532,013 |  |

2,090,444 |  | 1,545,082 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans | 387,162 |  | - |  |

THE MATSON GROUND ESTATE COMPANY LIMITED (REGISTERED NUMBER: 00 |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

10. | Secured debts

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank loans | 493,838 |  | 877,183 |  |

| Hire purchase contracts | 34,996 |  | 30,414 |  |

528,834 |  | 907,597 |  |

| The bank overdraft and bank loan is secured by a legal charge over the properties owned by the company on the Bank's standard form and a debenture on the Bank's standard form.

| The hire purchase contracts are secured against the assets to which they relate.

11. | Called up share capital

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 349,993 | Ordinary | £1 | 349,993 |  | 349,993 |  |

12. | Related party disclosures

| Entities over which the entity has control, joint control or significant influence

|  | 2025 |  | 2024 |  |

|  | £ |  | £ |  |

| Amount due from related party |  | 175,634 |  | 207,133 |  |

| Amount due to related party |  | 94,821 |  | 94,821 |  |

| Key management personnel of the entity or its parent (in the aggregate)

|  | 2025 |  | 2024 |  |

|  | £ |  | £ |  |

| Amount due to related party |  | 1,602,013 |  | 1,532,013 |  |