REGISTERED NUMBER: 13150510 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

CAPES FARMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J Capes

J J S Capes

N A Falana

SECRETARY:

S E B Capes

REGISTERED OFFICE:

Hatherden House

Hatherden

Andover

Hampshire

SP11 0HX

REGISTERED NUMBER:

13150510 (England and Wales)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

FIXED ASSETS

Tangible assets

4

14,537,439

11,292,080

Investment property

5

395,000

270,000

14,932,439

11,562,080

CURRENT ASSETS

Stocks

249,915

419,694

Debtors

6

115,698

37,655

Cash at bank and in hand

386,328

244,378

751,941

701,727

CREDITORS

Amounts falling due within one year

7

146,348

110,752

NET CURRENT ASSETS

605,593

590,975

TOTAL ASSETS LESS CURRENT LIABILITIES

15,538,032

12,153,055

PROVISIONS FOR LIABILITIES

1,227,158

1,635,977

NET ASSETS

14,310,874

10,517,078

CAPITAL AND RESERVES

Called up share capital

101,000

101,000

Share premium

10,473,850

10,473,850

Revaluation reserve

8

3,338,407

-

Fair value reserve

8

115,640

-

Retained earnings

281,977

(57,772

)

14,310,874

10,517,078

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 30th October 2025 and were signed on its behalf by:

J J S Capes - Director

1.	STATUTORY INFORMATION

Capes Farms Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Tractors, combine & dryer

-

25% on reducing balance

Implements

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Sundry equipment

-

15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

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

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.

Deferred tax

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Tractors,

Freehold

combine &

property

dryer

Implements

£

£

£

COST OR VALUATION

At 1st April 2024

11,217,150

18,828

8,693

Additions

-

-

-

Disposals

-

-

(103

)

Revaluations

3,232,850

-

-

At 31st March 2025

14,450,000

18,828

8,590

DEPRECIATION

At 1st April 2024

-

10,885

4,060

Charge for year

-

1,986

1,158

Eliminated on disposal

-

-

(70

)

At 31st March 2025

-

12,871

5,148

NET BOOK VALUE

At 31st March 2025

14,450,000

5,957

3,442

At 31st March 2024

11,217,150

7,943

4,633

Motor

Sundry

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 1st April 2024

75,964

31,787

11,352,422

Additions

36,710

2,095

38,805

Disposals

-

-

(103

)

Revaluations

-

-

3,232,850

At 31st March 2025

112,674

33,882

14,623,974

DEPRECIATION

At 1st April 2024

33,234

12,163

60,342

Charge for year

19,861

3,258

26,263

Eliminated on disposal

-

-

(70

)

At 31st March 2025

53,095

15,421

86,535

NET BOOK VALUE

At 31st March 2025

59,579

18,461

14,537,439

At 31st March 2024

42,730

19,624

11,292,080

Freehold land and buildings are valued at £14,450,000 (2024: £11,217,150) following a professional valuation by Savilles in June 2025.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2024

270,000

Revaluations

125,000

At 31st March 2025

395,000

NET BOOK VALUE

At 31st March 2025

395,000

At 31st March 2024

270,000

Fair value at 31st March 2025 is represented by:

£

Valuation in 2021

270,000

Valuation in 2025

125,000

395,000

The investment properties are valued at £395,000 (2024: £240,000) following a professional valuation by Savilles in June 2025.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

101,126

24,237

Other debtors

14,572

13,418

115,698

37,655

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

126,413

73,885

Taxation and social security

15,935

31,312

Other creditors

4,000

5,555

146,348

110,752

8.

RESERVES

Fair

Revaluation

value

reserve

reserve

Totals

£

£

£

Reserve transfers

(319,185

)

85,230

(233,955

)

Revaluation

4,465,805

30,410

4,496,215

Deferred tax

(808,213

)

-

(808,213

)

At 31st March 2025

3,338,407

115,640

3,454,047