REGISTERED NUMBER: 00387706 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

J F D HARGREAVES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J Hargreaves

Mr B Hargreaves

REGISTERED OFFICE:

Thornton Hall Farm

Station Road

Thornton Curtis

Ulceby

DN39 6XF

REGISTERED NUMBER:

00387706 (England and Wales)

ACCOUNTANTS:

Sowerby

Chartered Accountants

Beckside Court

Annie Reed Road

Beverley

East Yorkshire

HU17 0LF

SOLICITORS:

BG Solicitors LLP

Lauriston House

Town Hall Square

Grimsby

DN31 1JB

FIXED ASSETS

Tangible assets

4

12,503,261

11,122,136

CURRENT ASSETS

Stocks

2,706,568

2,688,877

Debtors

5

1,303,737

1,037,328

Investments

6

101

14,170

4,010,406

3,740,375

CREDITORS

Amounts falling due within one year

7

2,900,261

2,526,062

NET CURRENT ASSETS

1,110,145

1,214,313

TOTAL ASSETS LESS CURRENT LIABILITIES

13,613,406

12,336,449

CREDITORS

Amounts falling due after more than one year

8

(4,092,551

)

(3,352,685

)

PROVISIONS FOR LIABILITIES

(1,297,047

)

(1,230,661

)

NET ASSETS

8,223,808

7,753,103

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

8,222,808

7,752,103

SHAREHOLDERS' FUNDS

8,223,808

7,753,103

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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2025 and were signed on its behalf by:

Mr J Hargreaves - Director

1.	STATUTORY INFORMATION

JFD Hargreaves Limited is a private company limited by shares, incorporated and domiciled in England, and has its registered office and principal place of business at Station Road, Thornton Curtis, Ulceby, England, DN39 6XF.

The principal activity of the company is farming.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover

Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

All sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

10% on cost and 2% on cost excluding land

Plant and machinery etc

-

15% on cost, 12.5% on cost and 10% on cost

Tangible fixed assets are held under the historical cost model.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are stated at the lower of cost and estimated selling price less cost to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that haven been incurred in bringing the stocks to their present location and condition.

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 the profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Taxation

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

Government assistance

Government subsidies are released to the profit and loss account in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

6,620,211

8,238,733

14,858,944

Additions

1,280,621

933,100

2,213,721

Disposals

-

(436,750

)

(436,750

)

At 31 March 2025

7,900,832

8,735,083

16,635,915

DEPRECIATION

At 1 April 2024

361,359

3,375,449

3,736,808

Charge for year

22,589

743,398

765,987

Eliminated on disposal

-

(370,141

)

(370,141

)

At 31 March 2025

383,948

3,748,706

4,132,654

NET BOOK VALUE

At 31 March 2025

7,516,884

4,986,377

12,503,261

At 31 March 2024

6,258,852

4,863,284

11,122,136

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2024

1,941,977

Additions

788,000

At 31 March 2025

2,729,977

DEPRECIATION

At 1 April 2024

240,524

Charge for year

303,657

At 31 March 2025

544,181

NET BOOK VALUE

At 31 March 2025

2,185,796

At 31 March 2024

1,701,453

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,152,922

914,612

Other debtors

150,815

122,716

1,303,737

1,037,328

6.	CURRENT ASSET INVESTMENTS

2025

2024

£

£

Unlisted investments

101

14,170

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

1,159,934

1,376,420

Hire purchase contracts

397,218

329,903

Trade creditors

1,053,378

655,042

Taxation and social security

196,981

16,388

Other creditors

92,750

148,309

2,900,261

2,526,062

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

3,653,291

2,936,383

Hire purchase contracts

434,260

411,302

Other creditors

5,000

5,000

4,092,551

3,352,685

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Preference shares

5,000

5,000

Repayable by instalments

Bank loans

2,170,405

1,709,628

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

750,101

1,050,496

Bank loans

4,063,124

3,262,307

Hire purchase contracts

831,478

741,205

5,644,703

5,054,008

Bank borrowings are secured by mortgages over the companys freehold land and buildings.

Hire purchase contracts are secured over the assets to which they relate.

10.	OTHER FINANCIAL COMMITMENTS

At 31 March 2025, the company had annual commitments under non-cancellable operating leases over the remaining life of those leases of £197,840 (2024 £197,840).

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, the company owed its director J Hargreaves £12,021 (2024 - £35,216).

The loan is free from interest and repayable on demand.

12.	RELATED PARTY DISCLOSURES

Mr B Hargreaves

Mr B Hargreaves holds a participating interest in the company.

A loan account subsisted between Mr B Hargreaves and the company throughout the year.

The balance owing by Mr B Hargreaves to the company at the balance sheet date was £25,000 (2024 £25,000).

The loan account carries no right to interest and is repayable on demand.