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Company No: 05895171 (England and Wales)

# CLARENDON PARK FARMS LIMITED

### Unaudited Financial Statements
For the financial year ended 31 January 2025
Pages for filing with the registrar

CLARENDON PARK FARMS LIMITED

## Unaudited Financial Statements

For the financial year ended 31 January 2025

Contents

CLARENDON PARK FARMS LIMITED

## BALANCE SHEET

As at 31 January 2025
CLARENDON PARK FARMS LIMITED

## BALANCE SHEET (continued)

As at 31 January 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 35,705,940 |  | 36,922,761
Biological assets | 4 | 69,117 |  | 66,265
Investment property | 5 | 13,370,261 |  | 12,568,500
|  | 49,145,318 |  | 49,557,526
Current assets |  |  |  |
Stocks | 6 | 818,991 |  | 881,615
Debtors | 7 | 522,670 |  | 800,794
Cash at bank and in hand |  | 486,012 |  | 412,555
|  | 1,827,673 |  | 2,094,964
Creditors: amounts falling due within one year | 8 | ( 49,316,121) |  | ( 49,510,840)
Net current liabilities |  | (47,488,448) |  | (47,415,876)
Total assets less current liabilities |  | 1,656,870 |  | 2,141,650
Creditors: amounts falling due after more than one year | 9 | ( 30,000) |  | ( 137,761)
Provision for liabilities | 10 | ( 225,128) |  | ( 284,803)
Net assets |  | 1,401,742 |  | 1,719,086
Capital and reserves |  |  |  |
Called-up share capital |  | 50,000 |  | 50,000
Profit and loss account |  | 1,351,742 |  | 1,669,086
Total shareholder's funds |  | 1,401,742 |  | 1,719,086

For the financial year ending 31 January 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Clarendon Park Farms Limited (registered number: 05895171) were approved and authorised for issue by the Board of Directors on 20 October 2025. They were signed on its behalf by:

M N Jonas Director |

CLARENDON PARK FARMS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
CLARENDON PARK FARMS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025

##### 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

Clarendon Park Farms Limited (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 The Estate Office, Clarendon Park, Salisbury, Wiltshire, SP5 3EW, United Kingdom.
The financial statements have been prepared under the historical cost convention, unless otherwise specified within these accounting policies, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

##### Turnover

Turnover represents amounts receivable from farming produce sold during the year. Turnover also includes rental income receivable relating to the year from rental properties. Rental income is recognised in accordance with the relevant rental agreements. Turnover also includes transfers into the beef herd at the cost of rearing, Basic Payment receipts which are recognised on a calendar year basis and other government grants receivable relating to the year.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### 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.
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 average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. 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 assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

##### Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, 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 | not depreciated
| 20 - 50 years straight line
| 4 % reducing balance
Plant and machinery | 15 - 25 % reducing balance
Vehicles | 25 % reducing balance
Fixtures and fittings | 25 % reducing balance
Office equipment | 15 - 25 % reducing balance
Other property, plant and equipment | 25 % 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 the statement of income and retained earnings.

##### Biological assets

The beef herd has been accounted for as a biological asset and has therefore been stated at cost less accumulated depreciation.
Depreciation is charged so as to allocate the cost of the net assets less their residual value (cull value) over their estimated useful lives, being 12 years.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in the statement of income and retained earnings. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The fair value is determined annually by the directors, on an open market value for existing use basis.

##### Stocks

Stock is valued at the lower of cost and net realisable value. Crops held in stock at the year end are valued at fair value less costs to sell; purchased stocks are included at cost and tillages and growing crops are valued at the costs incurred in bringing the crops to their present state at the year end date.

##### Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the statement of income and retained earnings over the expected useful lives of the assets concerned. Other grants are credited to the statement of income and retained earnings as the related expenditure is incurred.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 13 |  | 13

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Office equipment |  | Other property, plant and equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |  |  |  |  |
At 01 February 2024 | 36,434,533 |  | 946,544 |  | 265,148 |  | 57,830 |  | 21,566 |  | 1,300,723 |  | 39,026,344
Additions | 0 |  | 153,374 |  | 11,945 |  | 0 |  | 0 |  | 0 |  | 165,319
Disposals | 0 |  | ( 112,715) |  | ( 26,948) |  | 0 |  | 0 |  | 0 |  | ( 139,663)
Transfers | ( 927,360) |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | ( 927,360)
At 31 January 2025 | 35,507,173 |  | 987,203 |  | 250,145 |  | 57,830 |  | 21,566 |  | 1,300,723 |  | 38,124,640
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |  |  |
At 01 February 2024 | 838,308 |  | 526,930 |  | 188,784 |  | 32,490 |  | 13,507 |  | 503,564 |  | 2,103,583
Charge for the financial year | 135,178 |  | 100,790 |  | 20,490 |  | 6,309 |  | 1,987 |  | 199,290 |  | 464,044
Disposals | 0 |  | ( 80,242) |  | ( 22,851) |  | 0 |  | 0 |  | 0 |  | ( 103,093)
Transfers | ( 45,834) |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | ( 45,834)
At 31 January 2025 | 927,652 |  | 547,478 |  | 186,423 |  | 38,799 |  | 15,494 |  | 702,854 |  | 2,418,700
Net book value |  |  |  |  |  |  |  |  |  |  |  |  |
At 31 January 2025 | 34,579,521 |  | 439,725 |  | 63,722 |  | 19,031 |  | 6,072 |  | 597,869 |  | 35,705,940
At 31 January 2024 | 35,596,225 |  | 419,614 |  | 76,364 |  | 25,340 |  | 8,059 |  | 797,159 |  | 36,922,761

#### 4. Biological assets

| 2025
| £
Biological assets at cost | 69,117

Assets held at cost:

| Beef |  | Total
| £ |  | £
Cost |  |  |
At 01 February 2024 | 67,453 |  | 67,453
Increase due to purchases/ transfers in | 16,615 |  | 16,615
Decrease attributable to sales/ transfers out | ( 13,225) |  | ( 13,225)
At 31 January 2025 | 70,843 |  | 70,843
Accumulated depreciation |  |  |
At 01 February 2024 | 1,188 |  | 1,188
Charge for the financial year | 538 |  | 538
At 31 January 2025 | 1,726 |  | 1,726
Net book value |  |  |
At 31 January 2025 | 69,117 |  | 69,117
At 31 January 2024 | 66,265 |  | 66,265

#### 5. Investment property

| Investment property
| £
Valuation |
As at 01 February 2024 | 12,568,500
Additions | 246,485
Fair value movement | (326,250)
Transfers to and from property, plant and equipment | 881,526
As at 31 January 2025 | 13,370,261

#### 6. Stocks

| 2025 |  | 2024
| £ |  | £
Stocks | 420,220 |  | 390,840
Work in progress | 226,933 |  | 256,015
Livestock | 44,167 |  | 33,937
Other stock | 127,671 |  | 200,823
| 818,991 |  | 881,615

#### 7. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 130,041 |  | 101,480
Prepayments | 285,399 |  | 61,910
VAT recoverable | 78,230 |  | 605,325
Corporation tax | 0 |  | 96
Other debtors | 29,000 |  | 31,983
| 522,670 |  | 800,794

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

| 2025 |  | 2024
| £ |  | £
Trade creditors | 50,909 |  | 332,336
Amounts owed to Parent undertakings | 48,995,991 |  | 48,995,991
Corporation tax | 117,256 |  | 0
Other taxation and social security | 3,908 |  | 11,086
Obligations under finance leases and hire purchase contracts | 100,261 |  | 100,336
Other creditors | 47,796 |  | 71,091
| 49,316,121 |  | 49,510,840

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

| 2025 |  | 2024
| £ |  | £
Obligations under finance leases and hire purchase contracts | 0 |  | 100,261
Other creditors | 30,000 |  | 37,500
| 30,000 |  | 137,761

#### 10. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 284,803) |  | ( 205,583)
Credited/(charged) to the Statement of Income and Retained Earnings | 59,675 |  | ( 79,220)
At the end of financial year | ( 225,128) |  | ( 284,803)

The deferred taxation balance is made up as follows:

| 2025 |  | 2024
| £ |  | £
Accelerated capital allowances | ( 370,139) |  | ( 361,952)
Tax losses carry forward | 63,661 |  | 78,128
Other timing differences | ( 212) |  | ( 979)
Capital losses | 81,562 |  | 0
| ( 225,128) |  | ( 284,803)

#### 11. Related party transactions

Included within other creditors is £8,839 (2024: £28,574) due to M N Jonas.

#### 12. Ultimate controlling party

The company is a 100% owned subsidiary of Clarendon Park Estate Limited, a company incorporated in England and Wales.
The ultimate controlling party is M N Jonas.