Company No: 00503169 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

Director

C T Frost

Registered office	Springfield House
	Springfield Road
	RH12 2RG
	Horsham
	United Kingdom

Company number

00503169 (England and Wales)

Accountant	Kreston Reeves LLP
	Springfield House
	Springfield Road
	Horsham
	West Sussex
	RH12 2RG

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	873		1,295
Tangible assets	4	7,190,457		7,088,946
		7,191,330		7,090,241
Current assets
Stocks		16,447		31,727
Debtors	5	24,386		47,437
Cash at bank and in hand		301,849		165,912
		342,682		245,076
Creditors: amounts falling due within one year	6	( 241,517)		( 215,056)
Net current assets		101,165		30,020
Total assets less current liabilities		7,292,495		7,120,261
Creditors: amounts falling due after more than one year	7	( 89,226)		( 92,717)
Provision for liabilities	8	( 1,531,349)		( 1,479,042)
Net assets		5,671,920		5,548,502
Capital and reserves
Called-up share capital		15,000		15,000
Revaluation reserve		4,180,391		4,164,192
Capital redemption reserve		16,093		16,093
Profit and loss account		1,460,436		1,353,217
Total shareholders' funds		5,671,920		5,548,502

For the financial year ending 31 March 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 financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Newdigate Farms Limited (registered number: 00503169) were approved and authorised for issue by the Director on 25 September 2025. They were signed on its behalf by:

C T Frost Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Newdigate Farms Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Springfield House, Springfield Road, RH12 2RG, Horsham, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £1.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs

10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Leasehold improvements	50 years straight line
Vehicles	40 % reducing balance
Fixtures and fittings	20 % reducing balance
Tools and equipment	20 % reducing balance
Computer equipment	3 years straight line
Other property, plant and equipment	5 - 20 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 1 January 2022 to continue to be charged over the period to the first market rent review rather than the term of the lease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is based on the cost of purchase using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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 and cash and bank balances, 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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 payments 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. Amounts 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.

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

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	7		8

3. Intangible assets

	Website costs		Total
	£		£
Cost
At 01 April 2024	4,220		4,220
At 31 March 2025	4,220		4,220
Accumulated amortisation
At 01 April 2024	2,925		2,925
Charge for the financial year	422		422
At 31 March 2025	3,347		3,347
Net book value
At 31 March 2025	873		873
At 31 March 2024	1,295		1,295

4. Tangible assets

	Land and buildings		Leasehold improve- ments		Vehicles		Fixtures and fittings		Tools and equipment		Computer equipment		Other property, plant and equipment		Total
	£		£		£		£		£		£		£		£
Cost
At 01 April 2024	6,111,396		739,016		262,407		101,776		257,435		16,848		67,351		7,556,229
Additions	10,843		113,446		0		6,546		2,577		1,447		78,977		213,836
Disposals	0		0		( 18,000)		0		( 4,850)		0		0		( 22,850)
At 31 March 2025	6,122,239		852,462		244,407		108,322		255,162		18,295		146,328		7,747,215
Accumulated depreciation
At 01 April 2024	0		80,907		125,345		58,657		138,487		14,525		49,362		467,283
Charge for the financial year	0		14,780		54,825		8,624		24,056		1,289		8,444		112,018
Disposals	0		0		( 18,000)		0		( 4,543)		0		0		( 22,543)
At 31 March 2025	0		95,687		162,170		67,281		158,000		15,814		57,806		556,758
Net book value
At 31 March 2025	6,122,239		756,775		82,237		41,041		97,162		2,481		88,522		7,190,457
At 31 March 2024	6,111,396		658,109		137,062		43,119		118,948		2,323		17,989		7,088,946

Revaluation of tangible assets

The freehold land and property was valued on 7 July 2022 by Batcheller Monkhouse, Chartered Surveyors, who are external to the company, with a market value of £6,160,000. The director considers the current market value of the freehold land and property to be £6,122,239.

If the land and properties had not been included at valuation they would have been included under the historical cost convention as follows:

	2025		2024
	£		£
Historical cost	583,422		572,579
Carrying value	583,422		572,579

5. Debtors

	2025		2024
	£		£
Trade debtors	17,189		20,802
Prepayments and accrued income	6,200		25,586
Other debtors	997		1,049
	24,386		47,437

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans (secured)	3,378		3,378
Trade creditors	11,795		16,391
Amounts owed to director	13,082		18,464
Accruals and deferred income	37,416		44,226
Taxation and social security	89,537		49,908
Other creditors	86,309		82,689
	241,517		215,056

Bank loans (secured)

The loan of £3,378 (2024 - £3,378) is secured on a fixed charge over the freehold property Dean House Farm, Church Road, Newdigate, Dorking, Surrey RH5 5DL.

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

	2025		2024
	£		£
Bank loans (secured)	89,226		92,717

Bank loans (secured)

The loan of £89,226 (2024 - £92,717) is secured on a fixed charge over the freehold property Dean House Farm, Church Road, Newdigate, Dorking, Surrey RH5 5DL.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2025		2024
	£		£
Bank loans (secured / repayable by instalments)	75,713		79,204

The loan of £75,713 (2024 - £79,204) is secured on a fixed charge over the freehold property Dean House Farm, Church Road, Newdigate, Dorking, Surrey RH5 5DL.

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 1,479,042)		( 1,497,219)
(Charged)/credited to the Profit and Loss Account	( 52,307)		5,677
Deferred tax in OCI	0		12,500
At the end of financial year	( 1,531,349)		( 1,479,042)

The deferred taxation balance is made up as follows:

	2025		2024
	£		£
Accelerated capital allowances	( 85,798)		( 88,289)
Revaluation of investment property	( 1,445,551)		( 1,390,753)
	( 1,531,349)		( 1,479,042)

9. Financial commitments

Other financial commitments

	2025		2024
	£		£
Narrowboat Motty < 1 year	1,200		1,100
Narrowboat Motty 1 - 2 years	1,200		0
Narrowboat Motty 2- 5 years	3,500		0
Green Farm > 5 years	24,000		24,000
	29,900		25,100

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,345 (2024 - £2,277).

	2025		2024
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	60		0