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Registration number: 00518082

Riby Grange Farming Company Limited
Unaudited Filleted Financial Statements
for the Year Ended 5 April 2025

Riby Grange Farming Company Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 11

Riby Grange Farming Company Limited

Company Information

Directors | J B Burt M N Burt H N Burt G W Burt

Registered office | Riby Grange Riby Grimsby N.E. Lincolnshire DN37 8NT

Riby Grange Farming Company Limited

(Registration number: 00518082)
Balance Sheet as at 5 April 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 5 | 5,996,387 | 6,036,946
Investment property | 6 | 437,613 | 437,613
Other financial assets | 7 | 24,249 | 24,163
|  | 6,458,249 | 6,498,722
Current assets |  |  |
Stocks | 8 | 572,232 | 457,485
Debtors | 9 | 302,054 | 573,105
Cash at bank and in hand |  | 22,929 | 88,101
|  | 897,215 | 1,118,691
Creditors: Amounts falling due within one year | 10 | (556,773) | (186,369)
Net current assets |  | 340,442 | 932,322
Total assets less current liabilities |  | 6,798,691 | 7,431,044
Creditors: Amounts falling due after more than one year | 10 | (4,222,418) | (4,889,845)
Provisions for liabilities |  | (173,531) | (185,621)
Net assets |  | 2,402,742 | 2,355,578
Capital and reserves |  |  |
Called up share capital | 12 | 22,224 | 22,224
Share premium reserve |  | 424,716 | 424,716
Other reserves |  | 14,047 | 13,983
Retained earnings |  | 1,941,755 | 1,894,655
Shareholders' funds |  | 2,402,742 | 2,355,578

For the financial year ending 5 April 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 accounts for the year in question in accordance with section 476; and
• | The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Riby Grange Farming Company Limited

(Registration number: 00518082)
Balance Sheet as at 5 April 2025

Approved and authorised by the Board on 13 November 2025 and signed on its behalf by:

......................................... J B Burt Director

Riby Grange Farming Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

1 | General information

The company is a private company limited by share capital incorporated in England & Wales and the company registration number is 00518082.

The address of its registered office is:
Riby Grange
Riby
Grimsby
N.E. Lincolnshire
DN37 8NT

These financial statements cover the individual entity, Riby Grange Farming Company Limited.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 including Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006 subject to the departure detailed below.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

Departures from Companies Act requirements

No depreciation has been charged on freehold buildings as they are maintained to such a standard that their residual value is not less than their cost. Management have concluded that this does not affect the financial statements from showing a true and fair view. Apart from this departure the company has complied with the relevant accounting standards and legislation.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods, the provision of services and rent receivable in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Single farm payment is received in respect of calendar years. Receipt is contingent upon meeting certain eligibility criteria on 15th May. Once the criteria have been met the income is recognised on a time apportioned basis over the calendar year to which it relates.

Riby Grange Farming Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Land and buildings | No depreciation is charged
Tractors and combines | 15% per annum of net book value
Plant and implements | 15% per annum of net book value
Office equipment | 15%/25% per annum of net book value
Motor vehicles | 25% per annum of net book value
Investment properties | No depreciation is charged

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Single Farm Entitlements | 25% straight line

Riby Grange Farming Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

Investments

Investments for which fair value can be measured without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. The fair value is based on the market value.
Investments for which fair value cannot be measured without undue cost or effort are stated at historical cost less provision for any diminution in value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised at the transaction price less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

The basis of valuation is as follows:
Raw materials and consumables are stated at the lower of cost and net realisable value.
Tenantright is calculated by a combination of actual costs incurred and standard costs.
Produce on hand is valued at the lower of standard cost and net realisable value.
Livestock is valued at the lower of standard cost and net realisable value.
Standard costings used are based upon calculations prepared by the Central Association of Agricultural Valuers.
The basis of valuation is consistent with previous years.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Riby Grange Farming Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the Company during the year, was 8 (2024 - 8).

Riby Grange Farming Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

4 | Intangible assets

| Single farm payment entitlements £ | Total £
Cost or valuation
At 6 April 2024 | 2,969 | 2,969
Disposals | (2,969) | (2,969)
At 5 April 2025 | - | -
Amortisation
At 6 April 2024 | 2,969 | 2,969
Amortisation eliminated on disposals | (2,969) | (2,969)
At 5 April 2025 | - | -
Carrying amount
At 5 April 2025 | - | -
At 5 April 2024 | - | -

5 | Tangible assets

| Land and buildings £ | Implements £ | Self propelled machinery £ | Office equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 6 April 2024 | 5,566,005 | 516,482 | 928,978 | 6,039 | 29,200 | 7,046,704
Additions | - | 14,505 | 44,000 | - | - | 58,505
Disposals | - | (3,350) | (47,500) | - | - | (50,850)
At 5 April 2025 | 5,566,005 | 527,637 | 925,478 | 6,039 | 29,200 | 7,054,359
Depreciation
At 6 April 2024 | 141,978 | 357,065 | 479,544 | 5,901 | 25,270 | 1,009,758
Charge for the year | - | 26,403 | 72,072 | 35 | 983 | 99,493
Eliminated on disposal | - | (3,471) | (47,808) | - | - | (51,279)
At 5 April 2025 | 141,978 | 379,997 | 503,808 | 5,936 | 26,253 | 1,057,972
Carrying amount
At 5 April 2025 | 5,424,027 | 147,640 | 421,670 | 103 | 2,947 | 5,996,387
At 5 April 2024 | 5,424,027 | 159,417 | 449,434 | 138 | 3,930 | 6,036,946

6 | Investment properties

| 2025 £
At 6 April 2023 | 437,613
At 5 April 2024 | 437,613

Riby Grange Farming Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

7 | Investments

| Financial assets at fair value through profit and loss £ | Financial assets at cost less impairment £ | Total £
Non-current financial assets
Cost or valuation
At 6 April 2024 | 18,643 | 5,520 | 24,163
Fair value adjustments | 86 | - | 86
At 5 April 2025 | 18,729 | 5,520 | 24,249
Carrying amount
At 5 April 2025 | 18,729 | 5,520 | 24,249

The financial assets at fair value through profit and loss have a current value of £18,729 (2024 - £18,643) and a historical cost of £nil (2024 - £nil).

8 | Stocks

| 2025 £ | 2024 £
Raw materials and consumables | 89,091 | 85,134
Tenantright | 278,408 | 148,934
Other inventories | 204,733 | 223,417
| 572,232 | 457,485

9 | Debtors

| 2025 £ | 2024 £
Trade debtors | 46,264 | 1,474
Prepayments and accrued income | 215,648 | 106,603
Other debtors | 40,142 | 465,028
| 302,054 | 573,105

Debtors includes £29,000 (2024 - £29,000) receivable after more than one year.

Riby Grange Farming Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

10 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Bank loans and overdrafts | 11 | 48,654 | 87,323
Trade creditors |  | 33,550 | 17,432
Taxation and social security |  | 32,258 | -
Other creditors |  | 387,828 | 34,679
Accruals and deferred income |  | 54,483 | 46,935
|  | 556,773 | 186,369
Due after one year |  |  |
Loans and borrowings | 11 | 4,222,418 | 4,889,845

Creditor amounts falling due within one year on which security has been given includes bank loans of £48,654 (2024 - £87,323) and finance lease liabilities of £nil (2024 - £34,679).
Creditor amounts falling due after one year on which security has been given includes a bank loan of £4,222,418 (2024 - £4,889,845).
The bank loans are secured by charges over the company's assets and a personal guarantee of £1.5m.

| 2025 £ | 2024 £
Due after more than five years |  |
After more than five years by instalments | 1,853,149 | 2,153,871
After more than five years not by instalments | 2,135,802 | 2,384,813
| 3,988,951 | 4,538,684

11 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 4,222,418 | 4,889,845

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 48,654 | 87,323
Finance lease liabilities | - | 34,679
Other borrowings | 387,828 | -
| 436,482 | 122,002

Riby Grange Farming Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

12 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 13,500 | 13,500 | 13,500 | 13,500
Ordinary 'A' shares of £1 each | 10 | 10 | 10 | 10
Ordinary 'B' shares of £1 each | 10 | 10 | 10 | 10
Ordinary 'C' shares of £1 each | 10 | 10 | 10 | 10
Ordinary 'D' shares of £1 each | 4,347 | 4,347 | 4,347 | 4,347
Ordinary 'E' shares of £1 each | 4,347 | 4,347 | 4,347 | 4,347
| 22,224 | 22,224 | 22,224 | 22,224

13 | Related party transactions

Transactions with Directors

2025 | At 6 April 2024 £ | Advances to Directors £ | Repayments by Director £ | At 5 April 2025 £
Directors' interest free loan accounts - no formal repayment | 226,171 | 466,578 | (952,767) | (260,018)

Other transactions with Directors

2024 | At 6 April 2023 £ | Advances to Director £ | Repayments by Director £ | At 5 April 2024 £
Directors' interest free loan accounts - no formal repayment | (607,282) | 907,922 | (74,469) | 226,171

The directors have forgone rent due to them from the company of £43,587 (2024 - £51,053).

Expenditure with and payables to related parties

2025 | Directors £
Amounts payable to related party | 260,017

Summary of transactions with directors

Amounts payable to directors have no formal repayment terms and no interest is payable.