REGISTERED NUMBER: 00821836 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

P G RIX (FARMS) LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

DIRECTORS:

Mr J G Rix

Mr W H Rix

Mrs M M Rix

Mrs J M Rix

Mr G P Rix

Mr S J Rix

SECRETARY:

Mrs M M Rix

REGISTERED OFFICE:

Lodge Farm

Boxted Road

Great Horkesley

Colchester

Essex

CO6 4AP

REGISTERED NUMBER:

00821836 (England and Wales)

AUDITORS:

MHA Audit Services LLP

910 The Crescent

Colchester

United Kingdom

CO4 9YQ

The directors present their strategic report for the year ended 28 February 2025.

REVIEW OF BUSINESS

The Directors consider that the business continues to produce robust results in its 61st year. Turnover increased by 7.42% to £16.9m, whilst the gross profit margin was maintained at 69.10% (2024 - 69.29%). Net profit before tax was 10.6% of turnover (2024 -20.61%). Given the challenging market conditions arising from the uncertainties surrounding the global economic outlook and inflationary price rises, the Directors are satisfied with the overall performance of the Company.

The Company continued its programme of significant investment in equipment, with tangible fixed asset additions (excluding contracts undertaken on behalf of related parties) of £3,897,144 in the year. Year end cash funds of £2,461,926 provide a sufficient resource for ongoing trading purposes and to fund anticipated future capital expenditure.

The Balance Sheet of the Company continues to be robust, with retained earnings having increased in the year by 8.51% to £17,661,772.

PRINCIPAL RISKS AND UNCERTAINTIES

The Directors consider the company to be well placed to face the risks and uncertainties associated with volatile crop prices, changing customer demands, and possible adverse weather conditions.

ON BEHALF OF THE BOARD:

Mrs M M Rix - Secretary

10 November 2025

The directors present their report with the financial statements of the company for the year ended 28 February 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of farming.

There has been no significant change in the company's activities during the financial year.

DIVIDENDS

No dividends will be distributed for the year ended 28 February 2025.

RESEARCH AND DEVELOPMENT

During the year the company undertook research and development activities around sustainable methods to enhance onion crop quality and yield, and improving soil health to boost potato crop performance.

FUTURE DEVELOPMENTS

When considering future developments, the long term sustainability of the farm is of primary importance to the Directors. The company intends to continue to operate as an arable farm in a commercially viable manner that balances the needs of all key stakeholders, whilst aiming to maintain and enhance the environment through good agricultural practice and integrated farming techniques.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 March 2024 to the date of this report.

Mr J G Rix

Mr W H Rix

Mrs M M Rix

Mrs J M Rix

Mr G P Rix

Mr S J Rix

FINANCIAL INSTRUMENTS

The company has a normal level of exposure to price, credit, liquidity and cash flow risks arising from operating activities which are conducted almost entirely in sterling.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

A resolution to reappoint MHA as independent auditor will be proposed at the next Annual General Meeting.

ON BEHALF OF THE BOARD:

Mrs M M Rix - Secretary

10 November 2025

Opinion

We have audited the financial statements of P G Rix (Farms) Limited (the 'company') for the year ended 28 February 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of 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 28 February 2025 and of its profit for the year 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 Auditors' 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions on other matters prescribed by the Companies Act 2006

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

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors 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 identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where 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 directors' 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 Statement of Directors' Responsibilities set out on page three, 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 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.

Auditors' 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 a Report of the Auditors 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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Enquiry of management around actual and potential litigation and claims;

- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluation the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias;

- Reviewing minutes of meetings of those charged with governance; and

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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 a Report of the Auditors 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.

Ryan Swann BA FCA (Senior Statutory Auditor)

for and on behalf of MHA Audit Services LLP

Colchester

10 November 2025

MHA is the trading name of MHA Audit Services LLP, a limited liability

partnership in England and Wales (registered number OC455542)

TURNOVER

16,889,662

15,722,623

Cost of sales

5,218,422

4,827,715

GROSS PROFIT

11,671,240

10,894,908

Administrative expenses

10,026,790

7,866,769

1,644,450

3,028,139

Other operating income

409,216

478,293

OPERATING PROFIT

6

2,053,666

3,506,432

Interest receivable and similar income

231,081

196,211

2,284,747

3,702,643

Interest payable and similar expenses

7

494,080

462,848

PROFIT BEFORE TAXATION

1,790,667

3,239,795

Tax on profit

8

514,033

858,238

PROFIT FOR THE FINANCIAL YEAR

1,276,634

2,381,557

PROFIT FOR THE YEAR

1,276,634

2,381,557

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,276,634

2,381,557

FIXED ASSETS

Intangible assets

10

18,658

24,434

Tangible assets

11

17,580,534

11,522,993

Investments

12

55,353

55,353

17,654,545

11,602,780

CURRENT ASSETS

Stocks

13

4,598,693

4,155,003

Debtors

14

3,401,030

4,094,263

Cash at bank

2,461,926

6,408,433

10,461,649

14,657,699

CREDITORS

Amounts falling due within one year

15

8,913,960

8,738,687

NET CURRENT ASSETS

1,547,689

5,919,012

TOTAL ASSETS LESS CURRENT LIABILITIES

19,202,234

17,521,792

CREDITORS

Amounts falling due after more than one year

16

(26,908

)

(30,609

)

PROVISIONS FOR LIABILITIES

18

(1,505,554

)

(1,098,045

)

NET ASSETS

17,669,772

16,393,138

CAPITAL AND RESERVES

Called up share capital

19

3,000

3,000

Share premium

20

5,000

5,000

Retained earnings

20

17,661,772

16,385,138

SHAREHOLDERS' FUNDS

17,669,772

16,393,138

The financial statements were approved by the Board of Directors and authorised for issue on 10 November 2025 and were signed on its behalf by:

Mr J G Rix - Director

Mr W H Rix - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 March 2023

3,000

15,003,581

5,000

15,011,581

Changes in equity

Dividends

-

(1,000,000

)

-

(1,000,000

)

Total comprehensive income

-

2,381,557

-

2,381,557

Balance at 29 February 2024

3,000

16,385,138

5,000

16,393,138

Changes in equity

Total comprehensive income

-

1,276,634

-

1,276,634

Balance at 28 February 2025

3,000

17,661,772

5,000

17,669,772

Cash flows from operating activities

Cash generated from operations

1

4,778,934

3,690,386

Interest paid

(490,989

)

(460,890

)

Interest element of hire purchase payments paid

(3,091

)

(1,958

)

Tax paid

(552,172

)

(191,662

)

Net cash from operating activities

3,732,682

3,035,876

Cash flows from investing activities

Purchase of tangible fixed assets

(8,376,791

)

(2,601,554

)

Sale of tangible fixed assets

470,180

701,501

Interest received

231,081

196,211

Net cash from investing activities

(7,675,530

)

(1,703,842

)

Cash flows from financing activities

Capital repayments in year

(3,659

)

34,268

Equity dividends paid

-

(1,000,000

)

Net cash from financing activities

(3,659

)

(965,732

)

(Decrease)/increase in cash and cash equivalents

(3,946,507

)

366,302

Cash and cash equivalents at beginning of year

2

6,408,433

6,042,131

Cash and cash equivalents at end of year

2

2,461,926

6,408,433

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

1,790,667

3,239,795

Depreciation charges

2,072,194

1,866,106

Profit on disposal of fixed assets

(217,346

)

(444,101

)

Finance costs

494,080

462,848

Finance income

(231,081

)

(196,211

)

3,908,514

4,928,437

Increase in stocks

(443,690

)

(402,183

)

Decrease in trade and other debtors

809,644

54

Increase/(decrease) in trade and other creditors

504,466

(835,922

)

Cash generated from operations

4,778,934

3,690,386

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 28 February 2025

28.2.25

1.3.24

£

£

Cash and cash equivalents

2,461,926

6,408,433

Year ended 29 February 2024

29.2.24

1.3.23

£

£

Cash and cash equivalents

6,408,433

6,042,131

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.3.24

Cash flow

At 28.2.25

£

£

£

Net cash

Cash at bank

6,408,433

(3,946,507

)

2,461,926

6,408,433

(3,946,507

)

2,461,926

Debt

Finance leases

(34,268

)

3,659

(30,609

)

(34,268

)

3,659

(30,609

)

Total

6,374,165

(3,942,848

)

2,431,317

1.	COMPLIANCE WITH ACCOUNTING STANDARDS

The Accounts have been prepared in accordance with applicable accounting standards. There were no material departures from those standards.

2.	STATUTORY INFORMATION

P G Rix (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.

3.	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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Critical accounting judgements and key sources of estimation uncertainty

In applying the company's accounting policies, the Directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The Directors' judgement, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity in making such judgement, estimates and assumptions, the actual results and outcomes may differ.

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

The Directors do not believe that there have been judgements made in the process of applying the below accounting policies that have had a significant effect on the amounts recognised in the financial statements. Furthermore, the directors consider that there are no areas of estimation uncertainty at the balance sheet date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year.

Turnover

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

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Camgrain storage is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Assets are not depreciated until they are brought into use. Gains and losses on disposal are calculated as the difference between any net disposal proceeds and the carrying value of the item.

In line with the applicable accounting standards freehold land is not depreciated. Depreciation on all other assets is calculated so as to write off the cost over their estimated useful lives:

Freehold property - 2% per annum straight line

Short leasehold - 15% on the reducing balances

Plant and machinery - 15-25% on the reducing balances.

Stocks

The farm valuation is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase and costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments

The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price. Such assets are subsequently carried at amortised cost using the effective interest method.

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.The Company's investments in equity instruments are not publicly traded, and therefore such assets are subsequently measured at cost less impairment.

Basic financial liabilities, including trade and other payables and loans from Directors, are initially recognised at transaction price. Debt instruments are subsequently carried at amortised cost, using the effective interest method.

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 were expected to apply to the reversal of the timing difference at that date.

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

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

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 economic lives, or the lease term, whichever is the shorter.

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

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 grants

Amounts receivable by the company during the accounting period are credited to the profit and loss account.

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

3,052,339

1,935,827

Social security costs

362,367

203,205

Other pension costs

317,901

291,630

3,732,607

2,430,662

The average number of employees during the year was as follows:

2025

2024

Management

6

6

Farm employees

36

35

42

41

5.	DIRECTORS' EMOLUMENTS AND KEY MANAGEMENT REMUNERATION

During the year Directors' emoluments including benefits in kind amounted to £1,276,030 (2024: £414,897) and Directors' pension contributions to money purchase schemes amounted to £20,000 (2024: £20,000).

There were two Directors to whom retirement benefits were accruing from money purchase schemes (2024: 2).

Emoluments of the highest paid Director amounted to £320,681 (2024: £99,329).

During the year none of the Directors exercised and share options, or received any shares in respect of qualifying services under a long term incentive scheme.

6.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2025

2024

£

£

Other operating leases

948,540

932,904

Depreciation - owned assets

2,066,416

1,859,080

Profit on disposal of fixed assets

(217,346

)

(444,101

)

Camgrain storage amortisation

5,776

7,026

Auditors remuneration

13,200

13,364

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Directors' loan interest

480,593

460,890

Corporation tax interest supplement

10,396

-

Hire purchase

3,091

1,958

494,080

462,848

8.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

106,524

560,177

Deferred tax

407,509

298,061

Tax on profit

514,033

858,238

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

Profit before tax

1,790,667

3,239,795

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 24.492%)

447,667

793,491

Effects of:

Expenses not deductible for tax purposes

14,856

7,454

Capital allowances in excess of depreciation

(344,836

)

(228,815

)

Research and development tax credits

(11,163

)

(11,953

)

Movement in deferred tax

407,509

298,061

Total tax charge

514,033

858,238

9.

DIVIDENDS

2025

2024

£

£

Ordinary A Shares shares of £1 each

Interim

-

500,000

Ordinary B Shares shares of £1 each

Interim

-

500,000

-

1,000,000

10.	INTANGIBLE FIXED ASSETS

Camgrain

storage

£

COST

At 1 March 2024

and 28 February 2025

541,385

AMORTISATION

At 1 March 2024

516,951

Amortisation for year

5,776

At 28 February 2025

522,727

NET BOOK VALUE

At 28 February 2025

18,658

At 29 February 2024

24,434