Company Registration No. 01007294 (England and Wales)
Evershot Farms Limited
Annual report and financial statements
for the period ended 5 April 2025
Evershot Farms Limited
Company information
Directors
The Hon Charlotte Townshend DL
J R Townshend
Secretary
M K Scrace
Company number
01007294
Registered office
The Estate Office
Melbury Sampford
Dorchester
Dorset
DT2 0LF
Independent auditor
Saffery LLP
Midland House
2 Poole Road
Bournemouth
Dorset
BH2 5QY
Bankers
Santander UK plc
2 Triton Square
Regents Place
London
NW1 3AN
Solicitors
Charles Russell Speechlys LLP
5 Fleet Place
London
EC4M 7RD
Evershot Farms Limited
Contents
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Statement of income and retained earnings
7
Balance sheet
8
Statement of cash flows
9
Notes to the financial statements
10 - 22
Evershot Farms Limited
Strategic report
For the period ended 5 April 2025
1

The directors present the strategic report for the period ended 5 April 2025.

Review of the business

The principal activity of the company continued to be that of farming.

The results for the year show a pre-tax loss of £18,469 (20 24: £1,251,573 loss) on turnover of £10,509,820 (20 24: £11,371,701).

Principal risks and uncertainties

The management of the business and execution of the company's strategy are subject to a number of risks. These being:

-Weather;

-External market prices;

-Disease;

-Environmental;

-Exchange rates.

The risks of bad weather and external market prices (including those affected by exchange rates) cannot be mitigated. However these are risks that all farming businesses are subject to.

The risk of disease is mitigated by a mixture of vaccination programmes, good animal husbandry practices and insurance.

The environmental risks mainly relate to the disposal of slurry. Some of the slurry generated is used in a biodigester.

Development and performance

The balance sheet shows that the retained earnings at the year end have de creased from £2,211,922 to £2,127,711 due to the loss in the year.

Key performance indicators
Given the straightforward nature of the business, the company's directors are of the opinion that analysis using KPI's is not necessary for an understanding of the development, performance or position of the business.

On behalf of the board

The Hon Charlotte Townshend DL
Director
17 September 2025
Evershot Farms Limited
Directors' report
For the period ended 5 April 2025
2

The directors present their annual report and financial statements for the period ended 5 April 2025.

Principal activities

The principal activity of the company continued to be that of farming.

Results and dividends

The results for the period are set out on page 7.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the period and up to the date of signature of the financial statements were as follows:

The Hon Charlotte Townshend DL
J R Townshend
Auditor

Saffery LLP were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006. Saffery LLP have expressed their willingness to continue in office.

Strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of the disclosures around the risk and uncertainties that the company faces.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
The Hon Charlotte Townshend DL
Director
17 September 2025
Evershot Farms Limited
Directors' responsibilities statement
For the period ended 5 April 2025
3

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Evershot Farms Limited
Independent auditor's report
To the members of Evershot Farms Limited
4
Opinion

We have audited the financial statements of Evershot Farms Limited (the 'company') for the period ended 5 April 2025 which comprise the statement of income and retained earnings, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 5 April 2025 and of its loss for the period then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Evershot Farms Limited
Independent auditor's report
To the members of Evershot Farms Limited (continued)
5

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial period for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the company’s financial statements to material misstatement and how fraud might occur, including through discussions with the directors, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the company by discussions with directors and by updating our understanding of the sector in which the company operates.

Laws and regulations of direct significance in the context of the company include The Companies Act 2006 and UK Tax legislation.

Evershot Farms Limited
Independent auditor's report
To the members of Evershot Farms Limited (continued)
6

Audit response to risks identified

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the company's records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the company's policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Hannah Mazrae
Senior Statutory Auditor
For and on behalf of Saffery LLP
17 September 2025
Statutory Auditors
Midland House
2 Poole Road
Bournemouth
Dorset
BH2 5QY
Evershot Farms Limited
Statement of income and retained earnings
For the period ended 5 April 2025
7
Period
Year
ended
ended
5 April
31 March
2025
2024
Notes
£
£
Turnover
3
10,509,820
11,371,701
Cost of sales
(6,336,088)
(8,567,438)
Gross profit
4,173,732
2,804,263
Administrative expenses
(3,938,556)
(3,787,836)
Operating profit/(loss)
6
235,176
(983,573)
Interest receivable and similar income
7
9,397
440
Interest payable and similar expenses
8
(263,042)
(268,440)
Loss before taxation
(18,469)
(1,251,573)
Tax on loss
9
(65,742)
308,074
Loss for the financial period
(84,211)
(943,499)
Retained earnings brought forward
2,211,922
3,155,421
Retained earnings carried forward
2,127,711
2,211,922

The profit and loss account has been prepared on the basis that all operations are continuing operations.

Evershot Farms Limited
Balance sheet
As at 5 April 2025
8
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
4,017,133
3,942,795
Biological assets
11
5,051,785
4,565,153
9,068,918
8,507,948
Current assets
Biological assets
11
441,693
288,324
Stocks
5,283,563
5,181,603
Debtors
12
1,767,598
1,554,521
Cash at bank and in hand
62,159
80,266
7,555,013
7,104,714
Creditors: amounts falling due within one year
13
(9,035,132)
(1,914,823)
Net current (liabilities)/assets
(1,480,119)
5,189,891
Total assets less current liabilities
7,588,799
13,697,839
Creditors: amounts falling due after more than one year
14
(1,672,161)
(7,694,500)
Provisions for liabilities
(340,038)
(342,528)
Net assets
5,576,600
5,660,811
Capital and reserves
Called up share capital
18
3,448,889
3,448,889
Profit and loss reserves
2,127,711
2,211,922
Total equity
5,576,600
5,660,811
The financial statements were approved by the board of directors and authorised for issue on 17 September 2025 and are signed on its behalf by:
The Hon Charlotte Townshend DL
Director
Company Registration No. 01007294
Evershot Farms Limited
Statement of cash flows
For the period ended 5 April 2025
9
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
21
508,933
989,622
Interest paid
(263,042)
(268,440)
Income taxes refunded/(paid)
216,625
(253,056)
Net cash inflow from operating activities
462,516
468,126
Investing activities
Purchase of tangible fixed assets
(458,800)
(376,862)
Proceeds from disposal of tangible fixed assets
26,780
33,884
Interest received
9,397
440
Net cash used in investing activities
(422,623)
(342,538)
Financing activities
Repayment of bank loans
(58,000)
(58,000)
Net cash used in financing activities
(58,000)
(58,000)
Net (decrease)/increase in cash and cash equivalents
(18,107)
67,588
Cash and cash equivalents at beginning of period
80,266
12,678
Cash and cash equivalents at end of period
62,159
80,266
Evershot Farms Limited
Notes to the financial statements
For the period ended 5 April 2025
10
1
Accounting policies
Company information

Evershot Farms Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Estate Office, Melbury Sampford, Dorchester, Dorset, DT2 0LF.

1.1
Reporting period

The company extended its reporting period from 31 March 2025 by 5 days to 5 April 2025 during the period. The prior year results remain comparable with the current period.

1.2
Accounting convention

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.3
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Long leasehold property
over the period of the lease on a straight line basis
Plant and machinery
5% to 33.3% per annum on a reducing balance basis
Improvements to property
5-10% per annum on a reducing balance / straight line basis

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 profit or loss.

Evershot Farms Limited
Notes to the financial statements (continued)
For the period ended 5 April 2025
1
Accounting policies (continued)
11
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7

Biological assets

Biological assets held by the company relate to farm livestock and deer.

Farm livestock, including cattle and sheep, are measured at fair value less costs to sell. The fair value of livestock is determined based on market prices of livestock of similar age, breed and genetic merit.

Deer are measured at cost less depreciation. Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives, being 9 years.

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have 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 profit or loss.

1.9
Cash and cash equivalents

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

Evershot Farms Limited
Notes to the financial statements (continued)
For the period ended 5 April 2025
1
Accounting policies (continued)
12
1.10
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including 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 publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Evershot Farms Limited
Notes to the financial statements (continued)
For the period ended 5 April 2025
1
Accounting policies (continued)
13
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Evershot Farms Limited
Notes to the financial statements (continued)
For the period ended 5 April 2025
1
Accounting policies (continued)
14
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits
The company provides pensions to certain staff through defined contribution schemes. The amount charged to the profit and loss account is the contributions payable in the year.
1.15
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.16
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred.

1.17

Delinked payment scheme

Income is only recognised once the land has been eligible for the entire calendar year and has been held by the company on the entitlement date, this being 15 May in each claim year.

In the event that the conditions for the receipt of the Delinked Payment Scheme have not been met, income recognition is deferred until such time as those conditions can be assumed to have been met and there is reasonable assurance that the Delinked Payment Scheme income will be received.

Evershot Farms Limited
Notes to the financial statements (continued)
For the period ended 5 April 2025
15
2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Turnover and other revenue

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
Dairy
7,971,788
7,711,863
Livestock
1,585,769
2,923,757
Other income
952,263
736,081
10,509,820
11,371,701
2025
2024
£
£
Other revenue
Interest income
9,397
440

All turnover is derived in the United Kingdom.

4
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
14,175
13,500
Evershot Farms Limited
Notes to the financial statements (continued)
For the period ended 5 April 2025
16
5
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2025
2024
Number
Number
Management and administration
3
4
Farming
32
28
Total
35
32

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,829,143
1,795,777
Social security costs
105,196
105,889
Pension costs
35,850
38,941
1,970,189
1,940,607
6
Operating profit/(loss)
2025
2024
Operating profit/(loss) for the period is stated after charging/(crediting):
£
£
Depreciation of owned tangible fixed assets
349,733
336,837
Profit/(loss) on disposal of tangible fixed assets
7,949
(3,767)
Operating lease charges
320,071
190,186
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
29
29
Other interest income
9,368
411
Total income
9,397
440
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
29
29
Evershot Farms Limited
Notes to the financial statements (continued)
For the period ended 5 April 2025
17
8
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
263,042
268,440
9
Taxation
2025
2024
£
£
Current tax
Adjustments in respect of prior periods
68,232
(283,124)
Deferred tax
Origination and reversal of timing differences
(2,490)
(24,950)
Total tax charge/(credit)
65,742
(308,074)

The actual charge/(credit) for the period can be reconciled to the expected credit for the period based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Loss before taxation
(18,469)
(1,251,573)
Expected tax credit based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
(4,617)
(312,893)
Tax effect of expenses that are not deductible in determining taxable profit
16,464
3,124
Tax effect of income not taxable in determining taxable profit
-
0
(941)
Unutilised tax losses carried forward
57,344
-
0
Permanent capital allowances in excess of depreciation
(69,191)
25,853
Under provided in prior years
68,232
1,733
Deferred tax adjustments
(2,490)
(24,950)
Taxation charge/(credit) for the period
65,742
(308,074)
Evershot Farms Limited
Notes to the financial statements (continued)
For the period ended 5 April 2025
18
10
Tangible fixed assets
Long leasehold property
Plant and machinery
Improvements to property
Total
£
£
£
£
Cost
At 1 April 2024
1,166,963
3,671,049
2,246,327
7,084,339
Additions
-
0
269,435
189,365
458,800
Disposals
-
0
(138,737)
(2,500)
(141,237)
At 5 April 2025
1,166,963
3,801,747
2,433,192
7,401,902
Depreciation and impairment
At 1 April 2024
311,180
2,076,138
754,226
3,141,544
Depreciation charged in the period
12,966
226,899
109,868
349,733
Eliminated in respect of disposals
-
0
(105,229)
(1,279)
(106,508)
At 5 April 2025
324,146
2,197,808
862,815
3,384,769
Carrying amount
At 5 April 2025
842,817
1,603,939
1,570,377
4,017,133
At 31 March 2024
855,783
1,594,911
1,492,101
3,942,795
11
Biological assets
Livestock
£
At 1 April 2024
4,853,477
Increase due to purchases
679,022
Increase due to transfers in
567,536
Decrease due to sales
(1,178,055)
Decrease due to deaths
(184,600)
Fair value movement
756,098
At 5 April 2025
5,493,478
Shown as:
Fixed assets
5,051,785
Current assets
441,693
5,493,478
Evershot Farms Limited
Notes to the financial statements (continued)
For the period ended 5 April 2025
19
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
46,719
685,571
Corporation tax recoverable
-
0
284,857
Other debtors
318,446
188,538
Prepayments and accrued income
1,402,433
395,555
1,767,598
1,554,521
13
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
763,497
743,111
Other creditors
7,590,496
941,950
Accruals and deferred income
681,139
229,762
9,035,132
1,914,823
14
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
15
1,636,500
1,694,500
Other creditors
35,661
6,000,000
1,672,161
7,694,500
15
Loans and overdrafts
2025
2024
£
£
Bank loans
1,636,500
1,694,500
Payable after one year
1,636,500
1,694,500

Security on the bank loan has been provided by a director by way of a first priority third party legal mortgage over property owned personally by the director.

Evershot Farms Limited
Notes to the financial statements (continued)
For the period ended 5 April 2025
20
16
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Tax losses
(14,336)
-
Deferred taxation
354,374
342,528
340,038
342,528
2025
Movements in the period:
£
Liability at 1 April 2024
342,528
Credit to profit or loss
(2,490)
Liability at 5 April 2025
340,038
17
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
35,850
38,941

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

18
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
3,448,889
3,448,889
3,448,889
3,448,889
Evershot Farms Limited
Notes to the financial statements (continued)
For the period ended 5 April 2025
21
19
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within one year
168,255
207,292
Between two and five years
172,111
156,146
340,366
363,438
20
Related party transactions
Transactions with related parties

During the year, the company paid rent of £64,811 (2024: £65,113) to an unincorporated entity for which The Hon Mrs Townshend is the sole proprietor. At 5 April 2025, the balance due to this entity in respect of trading balances was £22,739 (2024: £18,480).

During the year, the company received contracting fees of £126,681 (2024: £132,574) from an unincorporated partnership for which The Hon Mrs Townshend and J R Townshend are partners. At 5 April 2025, the balance due to this entity in respect of trading balances was £328 (2024: £31,916).

During the year, the company paid for services of £42,978 (2024: £60,898), rent of £43,333 (2024: £32,000) and management and admin fees of £252,893 (2024: £174,211) to companies for which The Hon Mrs Townshend and J R Townshend are directors. At 5 April 2025, the balance due to these entities in respect of trading balances was £1,631,488 (2024: £914,865). Balances were due from these companies of £12,726 (2024: £12,721) in respect of trading balances.

At 5 April 2025, the loan balance due to a company for which The Hon Mrs Townshend and J R Townshend are directors was £6,000,000 (2024: £6,000,000). Interest of £150,000 (2024: £150,000) was paid in respect of related party loans.

During the year, the company paid rent of £127,852 (2024: £93,325) to two unincorporated trusts for which The Hon Mrs Townshend and J R Townshend are Trustees. At 5 April 2025, the balance due to this entity in respect of trading balances was £32,475 (2024: £23,568).

Evershot Farms Limited
Notes to the financial statements (continued)
For the period ended 5 April 2025
22
21
Cash generated from operations
2025
2024
£
£
Loss for the period after tax
(84,211)
(943,499)
Adjustments for:
Taxation charged/(credited)
65,742
(308,074)
Finance costs
263,042
268,440
Investment income
(9,397)
(440)
Loss/(gain) on disposal of tangible fixed assets
7,949
(3,767)
Depreciation and impairment of tangible fixed assets
349,733
336,837
Movements in working capital:
(Increase)/decrease in stocks
(101,960)
44,916
(Increase)/decrease in debtors
(497,934)
377,904
Increase/(decrease) in creditors
1,155,970
(3,123)
(Decrease)/increase in biological assets
(640,001)
1,220,428
Cash generated from operations
508,933
989,622
22
Analysis of changes in net debt
1 April 2024
Cash flows
5 April 2025
£
£
£
Cash at bank and in hand
80,266
(18,107)
62,159
Borrowings excluding overdrafts
(7,694,500)
58,000
(7,636,500)
(7,614,234)
39,893
(7,574,341)
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