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COMPANY REGISTRATION NUMBER: 01211729

Pennard Hill Farm Limited

Filleted Unaudited Financial Statements

For the year ended

31 January 2025

Pennard Hill Farm Limited

Financial Statements

Year ended 31st January 2025

Contents | Page

Officers and professional advisers | 1

Statement of financial position | 2

Notes to the financial statements | 4

Pennard Hill Farm Limited

Officers and Professional Advisers

The board of directors | D Chambers
| P C Godber-Ford
| Mr T W J Godber-Ford Moore

Company secretary | Philippa Godber-Ford

Registered office | 20 Chamberlain Street
| Wells
| Somerset
| BA5 2PF

Accountants | Chalmers HB Ltd
| Chartered Accountants
| 20 Chamberlain Street
| Wells
| Somerset BA5 2PF

Pennard Hill Farm Limited

Statement of Financial Position

31 January 2025

| 2025 | 2024
Note | £ | £ | £

Fixed assets

Tangible assets | 6 |  | 2,494,827 | 2,452,887

Current assets

Stocks | 1,000 |  | –
Debtors | 7 | 737,656 |  | 194,021
Investments | 8 | 300,065 |  | 300,065
Cash at bank and in hand | 286,742 |  | 443,210
| ------------ |  | ---------
| 1,325,463 |  | 937,296

Creditors: amounts falling due within one year | 9 | 1,239,991 |  | 914,523
| ------------ |  | ---------
Net current assets |  | 85,472 | 22,773
|  | ------------ | ------------
Total assets less current liabilities |  | 2,580,299 | 2,475,660
|  | ------------ | ------------
Net assets |  | 2,580,299 | 2,475,660
|  | ------------ | ------------

Capital and reserves

Called up share capital |  | 2,580,234 | 2,580,234
Profit and loss account |  | 65 | ( 104,574)
|  | ------------ | ------------
Shareholders funds |  | 2,580,299 | 2,475,660
|  | ------------ | ------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31st 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Pennard Hill Farm Limited

Statement of Financial Position (continued)

31 January 2025
These financial statements were approved by the board of directors and authorised for issue on 23 October 2025 , and are signed on behalf of the board by:

D Chambers | P C Godber-Ford
Director | Director

Company registration number: 01211729

Pennard Hill Farm Limited

Notes to the Financial Statements

Year ended 31st January 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 Chamberlain Street, Wells, Somerset, BA5 2PF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

| Goodwill | - | 10% on a straight line basis

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Freehold land & buildings | - | Land - No depreciation, Buildings - 0% to 33% on a straight line basis
| Plant and machinery | - | 15% or 25% on a reducing balance basis
| Motor vehicles | - | 25% on a reducing balance basis
| Website | - | 20% on a straight line basis

No depreciation has been charged on the farmhouse and farmhouse buildings on the grounds that it would be immaterial. The directors are of the opinion that the estimated residual value of these buildings are not materially different from the carrying amounts.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
- Financial assets Basic financial assets, including trade and other receivables, cash and bank balances and current asset investments are initially recognised at transaction price, less any impairment.
- Financial liabilities
Basic financial liabilities, including trade and other payables are initially recognised at transaction price.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2024: 3 ).
5. Intangible assets

| Goodwill
| £
Cost |
At 1st February 2024 and 31st January 2025 | 300,000
| ---------
Amortisation |
At 1st February 2024 and 31st January 2025 | 300,000
| ---------
Carrying amount |
At 31st January 2025 | –
| ---------
At 31st January 2024 | –
| ---------

6. Tangible assets

| Freehold property | Plant and machinery | Motor vehicles | Website | Total
| £ | £ | £ | £ | £
Cost |  |  |  |  |
At 1st February 2024 | 2,302,523 | 556,766 | 31,258 | 10,000 | 2,900,547
Additions | 66,675 | 32,873 | – | – | 99,548
Disposals | – | – | ( 10) | – | ( 10)
| ------------ | --------- | -------- | -------- | ------------
At 31st January 2025 | 2,369,198 | 589,639 | 31,248 | 10,000 | 3,000,085
| ------------ | --------- | -------- | -------- | ------------
Depreciation |  |  |  |  |
At 1st February 2024 | 22,661 | 388,832 | 26,167 | 10,000 | 447,660
Charge for the year | 6,133 | 50,202 | 1,273 | – | 57,608
Disposals | – | – | ( 10) | – | ( 10)
| ------------ | --------- | -------- | -------- | ------------
At 31st January 2025 | 28,794 | 439,034 | 27,430 | 10,000 | 505,258
| ------------ | --------- | -------- | -------- | ------------
Carrying amount |  |  |  |  |
At 31st January 2025 | 2,340,404 | 150,605 | 3,818 | – | 2,494,827
| ------------ | --------- | -------- | -------- | ------------
At 31st January 2024 | 2,279,862 | 167,934 | 5,091 | – | 2,452,887
| ------------ | --------- | -------- | -------- | ------------

7. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 40,359 | 181,820
Other debtors | 697,297 | 12,201
| --------- | ---------
| 737,656 | 194,021
| --------- | ---------

8. Investments

| 2025 | 2024
| £ | £
Other investments | 65 | 65
Short-term deposits | 300,000 | 300,000
| --------- | ---------
| 300,065 | 300,065
| --------- | ---------

Investments represent unlisted investments in two farmers co-operative buying groups.
Investments in short term deposits have an original maturity of 3 months or less. At the balance sheet date the average maturity of the deposits was 2 months. The average interest rate was 2.7%.
9. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Trade creditors | 76,038 | 33,561
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 190,000 | –
Corporation tax | 164,008 | –
Social security and other taxes | 97,005 | 54,458
Other creditors | 712,940 | 826,504
| ------------ | ---------
| 1,239,991 | 914,523
| ------------ | ---------

10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:

| 2025
|  | Balance brought forward | Advances/ (credits) to the directors | Balance outstanding
|  | £ | £ | £
| P C Godber-Ford | ( 296,374) | 782,323 | 485,949
|  | --------- | --------- | ---------

| 2024
|  | Balance brought forward | Advances/ (credits) to the directors | Balance outstanding
|  | £ | £ | £
| P C Godber-Ford | ( 118,461) | ( 177,913) | ( 296,374)
|  | --------- | --------- | ---------

11. Related party transactions
The company is controlled by Mr D Chambers . PHFHL is owned by Mr Chambers, close family members and some trusts for which Mr Chambers and his close family are beneficiaries.
12. Controlling party
The ultimate parent company is Pennard Hill Farm Holdings Ltd, a company registered in England and Wales .