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| REGISTRAR OF COMPANIES

Registration number: 05116314

K A & P J Woodman & Son Ltd
Unaudited Financial Statements
31 March 2025

K A & P J Woodman & Son Ltd

Contents

Accountants' Report | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 4

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
K A & P J Woodman & Son Ltd
for the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of K A & P J Woodman & Son Ltd for the year ended 31 March 2025 as set out on pages 2 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of K A & P J Woodman & Son Ltd, as a body, in accordance with the terms of our engagement letter dated 19 August 2025. Our work has been undertaken solely to prepare for your approval the accounts of K A & P J Woodman & Son Ltd and state those matters that we have agreed to state to the Board of Directors of K A & P J Woodman & Son Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than K A & P J Woodman & Son Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that K A & P J Woodman & Son Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of K A & P J Woodman & Son Ltd. You consider that K A & P J Woodman & Son Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of K A & P J Woodman & Son Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

30 October 2025

K A & P J Woodman & Son Ltd

(Registration number: 05116314)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 571,821 | 397,302
Other financial assets | 5 | 139,308 | 139,308
|  | 711,129 | 536,610
Current assets |  |  |
Stocks |  | 247,339 | 284,090
Debtors | 6 | 168,111 | 210,502
Cash at bank and in hand |  | 1,090,441 | 741,583
|  | 1,505,891 | 1,236,175
Creditors: Amounts falling due within one year | 7 | (334,758) | (267,717)
Net current assets |  | 1,171,133 | 968,458
Total assets less current liabilities |  | 1,882,262 | 1,505,068
Creditors: Amounts falling due after more than one year | 7 | (72,912) | (33,919)
Provisions for liabilities |  | (119,499) | (87,940)
Net assets |  | 1,689,851 | 1,383,209
Capital and reserves |  |  |
Allotted, called up and fully paid share capital |  | 99 | 99
Profit and loss account |  | 1,689,752 | 1,383,110
Total equity |  | 1,689,851 | 1,383,209

K A & P J Woodman & Son Ltd

(Registration number: 05116314)
Balance Sheet as at 31 March 2025 (continued)

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.

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.

Approved and authorised by the Board on 30 October 2025 and signed on its behalf by:

.........................................

A Woodman

Director

K A & P J Woodman & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Hill House Farm
Talkin
BRAMPTON
CA8 1LW

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 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services 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

Government grants such as the basic payment scheme are included in the profit and loss account when all the necessary conditions for receipt have been met.

Other grants
Other grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets on a basis consistent with the depreciation policy.

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.

K A & P J Woodman & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

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 is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Land and buildings | 4% straight line
Plant and equipment | 15% reducing balance
Motor vehicles | 25% reducing balance
Furniture, fittings and office equipment | over 3 years straight line

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 the sale of goods or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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

Trading stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. The cost of livestock represents the purchase cost plus any additional costs of rearing the animal. Net realisable value is based on selling price less anticipated selling costs. Crop stock is valued at fair value less any anticipated costs to sell.

Herd stock is included in the balance sheet at the original cost of the herd adjusted annually for additions to, or disposals from the herd.

K A & P J Woodman & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

Additions to the herd are included at cost except where there is a reinstatement of disposals to the herd from the prior year. In this case they are reinstated at the prior year disposal value.

Disposals to the herd are disposed of at an average cost except where there have been additions to the herd in the prior year. In this case they are disposed of on a last in first out basis.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

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.

Leases

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.

K A & P J Woodman & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

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.

Financial instruments

Classification
Financial assets measured at fair value
Impairment
For instruments measured at cost less impairment the impairment is the difference between the assets' carrying amount and the best estimate the entity would receive for the asset if it were sold at the reporting date.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

K A & P J Woodman & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4 | Tangible assets

| Land and buildings £ | Plant and equipment £ | Motor vehicles £ | Furniture, fittings and office equipment £ | Total £
Cost or valuation
At 1 April 2024 | 31,154 | 604,053 | 28,000 | 2,644 | 665,851
Additions | 42,001 | 227,285 | - | - | 269,286
Disposals | - | (52,800) | - | - | (52,800)
At 31 March 2025 | 73,155 | 778,538 | 28,000 | 2,644 | 882,337
Depreciation
At 1 April 2024 | 6,852 | 260,386 | - | 1,311 | 268,549
Charge for the year | 2,456 | 67,240 | 7,000 | 677 | 77,373
Eliminated on disposal | - | (35,406) | - | - | (35,406)
At 31 March 2025 | 9,308 | 292,220 | 7,000 | 1,988 | 310,516
Carrying amount
At 31 March 2025 | 63,847 | 486,318 | 21,000 | 656 | 571,821
At 31 March 2024 | 24,302 | 343,667 | 28,000 | 1,333 | 397,302

K A & P J Woodman & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

5 | Other financial assets (current and non-current)

| 2025 £ | 2024 £
Non-current financial assets
Financial assets at fair value through profit and loss | 139,308 | 139,308

| Financial assets at fair value through profit and loss £ | Total £
Non-current financial assets
Cost or valuation
At 1 April 2024 | 139,308 | 139,308
At 31 March 2025 | 139,308 | 139,308
Carrying amount
At 31 March 2025 | 139,308 | 139,308
At 31 March 2024 | 139,308 | 139,308

6 | Debtors

| 2025 £ | 2024 £
Trade debtors | 114,324 | 148,746
Other debtors | 53,787 | 61,756
| 168,111 | 210,502

K A & P J Woodman & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

7 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 8 | 108,113 | 74,293
Trade creditors |  | 115,918 | 136,042
Taxation and social security |  | 1,744 | 72
Corporation tax liability |  | 92,093 | 37,162
Other creditors |  | 16,890 | 20,148
|  | 334,758 | 267,717
Due after one year |  |  |
Loans and borrowings | 8 | 26,458 | -
Other creditors |  | 46,454 | 33,919
|  | 72,912 | 33,919

8 | Loans and borrowings

| 2025 £ | 2024 £
Current loans and borrowings
Finance lease liabilities | 21,167 | 13,861
Other borrowings | 86,946 | 60,432
| 108,113 | 74,293

Current loans and borrowings includes the following liabilities, on which security has been given by the company:

| 2025 £ | 2024 £
Finance lease liabilities | 21,167 | 13,861

Finance lease liabilities are secured on the assets to which they relate.

K A & P J Woodman & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

| 2025 £ | 2024 £
Non-current loans and borrowings
Finance lease liabilities | 26,458 | -

Non-current loans and borrowings includes the following liabilities, on which security has been given by the company:

| 2025 £ | 2024 £
Finance lease liabilities | 26,458 | -

Finance lease liabilities are secured on the assets to which they relate.

9 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The amount of financial commitments not included in the balance sheet is £226,800 (2024 - £275,550). This relates to a property rental agreement which will expire in 2040.
The company also has future commitments under a 3 generation tenancy. It is not possible to quantify the total future commitment due to the nature of the arrangement, however the annual amount payable is £11,750.

10 | Financial instruments

Financial assets measured at fair value

First Milk
The method used for determining fair value is based on historic trading prices and the financial performance of First Milk.
The fair value is £139,308 (2024 - £139,308) and the change in value included in profit or loss is £Nil (2024 - £Nil).