Lotherton Farm Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05005101

Lotherton Farm Limited

Filleted Unaudited Financial Statements

For the year ended

31 January 2025

Lotherton Farm Limited

Statement of Financial Position

31 January 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		754,355		821,539

Current assets

Debtors	6	2,908	10,614
Cash at bank and in hand		15,216	18,445
		--------	--------
		18,124	29,059

Creditors: amounts falling due within one year	7	174,839		281,800
		----------		----------
Net current liabilities			156,715		252,741
			----------		----------
Total assets less current liabilities			597,640		568,798

Creditors: amounts falling due after more than one year	8		50		50

Provisions

Taxation including deferred tax	34,403	34,726
	----------	----------
Net assets	563,187	534,022
	----------	----------

Capital and reserves

Called up share capital	450	450
Capital redemption reserve	500	500
Non distributable reserves	99,940	102,325
Profit and loss account	462,297	430,747
	----------	----------
Shareholders funds	563,187	534,022
	----------	----------

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 income statement has not been delivered.

For the 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.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Lotherton 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 31 October 2025 , and are signed on behalf of the board by:

Mr S B Burnhill
Director

Company registration number: 05005101

Lotherton Farm Limited

Notes to the Financial Statements

Year ended 31 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 Lotherton Park Farm, Copley Lane, Aberford, Leeds, West Yorkshire, LS25 3ED.

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

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis. as modified by investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Revenue recognition

Income from rents receivable is recognised in accordance with the agreed terms of the relevant lease agreement.

(c) Current & deferred tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

(d) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

(e) 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:

	Plant & Machinery	-	10% reducing balance

(f) Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

(g) Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year, including the directors, amounted to 2 (2024: 2).

5. Tangible assets

	Land and buildings	Plant and machinery	Total
	£	£	£
Cost
At 1 February 2024	816,700	21,814	838,514
Disposals	( 66,700)	–	( 66,700)
	----------	--------	----------
At 31 January 2025	750,000	21,814	771,814
	----------	--------	----------
Depreciation
At 1 February 2024	–	16,975	16,975
Charge for the year	–	484	484
	----------	--------	----------
At 31 January 2025	–	17,459	17,459
	----------	--------	----------
Carrying amount
At 31 January 2025	750,000	4,355	754,355
	----------	--------	----------
At 31 January 2024	816,700	4,839	821,539
	----------	--------	----------

Investment properties were valued in January 2025 by the directors who have experience in the location and category of the investment property being valued.

6. Debtors

	2025	2024
	£	£
Trade debtors	2,908	10,614
	-------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	19,609	23,368
Corporation tax	6,670	6,166
Directors current account	2,120	43,536
Other creditors	146,440	208,730
	----------	----------
	174,839	281,800
	----------	----------

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	50	50
	----	----

9. Related party transactions

During the year, the directors made available loans to the company. The loans are repayable on demand and interest is charged at commercial rates. At the year end date the balance due to the director, Mr S B Burnhill , was £2,120 (2024: £43,536) At the year end the company owed Mrs W Burnhill , mother of Mr S B Burnhill , £ 41,473 (2024: £ 158,730 ), Miss F Burnhill , daughter of Mr S B Burnhill , £ 20,193 (2024: £ 10,000 ), Miss B Burnhill , daughter of Mr S B Burnhill , £ 40,774 (2024: £ 40,000 ) and Mr P Burnhill , brother of Mr S B Burnhill , £ 44,000 (2024: £0). Interest is charged on the loans at commercial rates.