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REGISTERED NUMBER: 00469616 (England and Wales)

Unaudited Financial Statements for the Year Ended 5th April 2025

for

Huggate Church Farm Properties Limited

Huggate Church Farm Properties Limited (Registered number: 00469616)

Contents of the Financial Statements

for the year ended 5th April 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Huggate Church Farm Properties Limited

Company Information

for the year ended 5th April 2025

| DIRECTORS: | A D Cumming

| Mrs I J Cumming

| REGISTERED OFFICE: | Poplars Farm

| Ferrensby

| Knaresborough

| North Yorkshire

| HG5 ORH

| REGISTERED NUMBER: | 00469616 (England and Wales)

| ACCOUNTANTS: | Smailes Goldie

| Chartered Accountants

| Regent's Court

| Princess Street

| Hull

| East Yorkshire HU2 8BA

Huggate Church Farm Properties Limited (Registered number: 00469616)

Balance Sheet

5th April 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 2,733,102 |  | 2,686,526 |  |

Investment property | 6 | 900,000 |  | 900,000 |  |

3,633,102 |  | 3,586,526 |  |

CURRENT ASSETS

Stocks | 19,280 |  | 33,697 |  |

Debtors | 7 | 6,716 |  | 4,927 |  |

Cash at bank | 13,197 |  | 17,865 |  |

39,193 |  | 56,489 |  |

CREDITORS

Amounts falling due within one year | 8 | 83,828 |  | 55,792 |  |

NET CURRENT (LIABILITIES)/ASSETS | (44,635 | ) | 697 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,588,467 |  | 3,587,223 |  |

CREDITORS

Amounts falling due after more than one year | 9 | (148,620 | ) | (116,723 | ) |

PROVISIONS FOR LIABILITIES | (482,815 | ) | (500,476 | ) |

NET ASSETS | 2,957,032 |  | 2,970,024 |  |

CAPITAL AND RESERVES

Called up share capital | 1,000 |  | 1,000 |  |

Capital redemption reserve | 26,596 |  | 26,596 |  |

Fair value reserve | 2,813,526 |  | 2,813,526 |  |

Retained earnings | 115,910 |  | 128,902 |  |

SHAREHOLDERS' FUNDS | 2,957,032 |  | 2,970,024 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5th April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 5th April 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.

Huggate Church Farm Properties Limited (Registered number: 00469616)

Balance Sheet - continued

5th April 2025

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th November 2025 and were signed on its behalf by:

A D Cumming - Director

Huggate Church Farm Properties Limited (Registered number: 00469616)

Notes to the Financial Statements

for the year ended 5th April 2025

1. | STATUTORY INFORMATION

| Huggate Church Farm Properties 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

| The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 The financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

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

| Going concern

| The financial statements have been prepared on a going concern basis to reflect the continuing ability of the directors to support the company and the substantial value of security available to the company which is not reflected in the balance sheet due to the farm having been acquired several decades ago at a low historical cost.

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

| 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 on all assets, (except Freehold land ), at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, which ever is shorter.

| Freehold land |  | -0% on cost |  |

| Freehold property |  | - 5% on cost |  |

| Plant and machinery |  | -10% on cost |  |

| Motor vehicles |  | -20% on cost |  |

| Tractors and trailers |  | -20% on cost |  |

| Investment property

| Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

| Stocks

| Stocks on hand of farm livestock, produce and tenantright are included at the valuation of professional valuers.

| The valuation has been prepared in accordance with the Inland Revenue's Business Economic Notes BEN19. Stocks have been valued at the lower of cost and net realisable value using accepted conventions to arrive at deemed cost where actual costs are not accurately ascertainable.

Huggate Church Farm Properties Limited (Registered number: 00469616)

Notes to the Financial Statements - continued

for the year ended 5th April 2025

2. | ACCOUNTING POLICIES - continued

| Tax

| Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| 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.

| Pension costs and other post-retirement benefits

| The company operates non-contributory pension schemes for certain employees and premiums due under the schemes are charged to the profit and loss account when paid.

| Debtors and creditors receivable / payable within one year

| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

| Loans and borrowings

| Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

| Impairment

| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. | EMPLOYEES AND DIRECTORS

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

Huggate Church Farm Properties Limited (Registered number: 00469616)

Notes to the Financial Statements - continued

for the year ended 5th April 2025

4. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST

| At 6th April 2024 | 17,572 |  |

| Disposals | (17,572 | ) |

| At 5th April 2025 | - |  |

| AMORTISATION

| At 6th April 2024 | 17,572 |  |

| Eliminated on disposal | (17,572 | ) |

| At 5th April 2025 | - |  |

| NET BOOK VALUE

| At 5th April 2025 | - |  |

| At 5th April 2024 | - |  |

5. | TANGIBLE FIXED ASSETS

| Tractors |

| Freehold |  | Plant and |  | Motor |  | and |

| property |  | machinery |  | vehicles |  | trailers |  | Totals

£ | £ | £ | £ | £ |

| COST OR VALUATION

| At 6th April 2024 | 2,676,002 |  | 347,030 |  | 19,790 |  | 121,694 |  | 3,164,516 |  |

| Additions | - |  | 84,000 |  | - |  | - |  | 84,000 |  |

| Disposals | - |  | (47,400 | ) | - |  | - |  | (47,400 | ) |

| At 5th April 2025 | 2,676,002 |  | 383,630 |  | 19,790 |  | 121,694 |  | 3,201,116 |  |

| DEPRECIATION

| At 6th April 2024 | 126,251 |  | 257,701 |  | 9,621 |  | 84,417 |  | 477,990 |  |

| Charge for year | 11,041 |  | 17,044 |  | 1,169 |  | 680 |  | 29,934 |  |

| Eliminated on disposal | - |  | (39,910 | ) | - |  | - |  | (39,910 | ) |

| At 5th April 2025 | 137,292 |  | 234,835 |  | 10,790 |  | 85,097 |  | 468,014 |  |

| NET BOOK VALUE

| At 5th April 2025 | 2,538,710 |  | 148,795 |  | 9,000 |  | 36,597 |  | 2,733,102 |  |

| At 5th April 2024 | 2,549,751 |  | 89,329 |  | 10,169 |  | 37,277 |  | 2,686,526 |  |

| Included in cost or valuation of land and buildings is freehold land of £ 1,766,257 (2024 - £ 1,766,257 ) which is not depreciated.

Huggate Church Farm Properties Limited (Registered number: 00469616)

Notes to the Financial Statements - continued

for the year ended 5th April 2025

5. | TANGIBLE FIXED ASSETS - continued

| Cost or valuation at 5th April 2025 is represented by:

| Tractors |

| Freehold |  | Plant and |  | Motor |  | and |

| property |  | machinery |  | vehicles |  | trailers |  | Totals

£ | £ | £ | £ | £ |

| Valuation in 2015 | 2,342,369 |  | - |  | - |  | - |  | 2,342,369 |  |

| Cost | 333,633 |  | 383,630 |  | 19,790 |  | 121,694 |  | 858,747 |  |

2,676,002 |  | 383,630 |  | 19,790 |  | 121,694 |  | 3,201,116 |  |

6. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 6th April 2024

| and 5th April 2025 | 900,000 |  |

| NET BOOK VALUE

| At 5th April 2025 | 900,000 |  |

| At 5th April 2024 | 900,000 |  |

| Fair value at 5th April 2025 is represented by:

£ |

| Valuation in 2015 | 585,000 |  |

| Valuation in 2024 | 315,000 |  |

900,000 |  |

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 4,748 |  | 2,428 |  |

| Other debtors | 1,968 |  | 2,499 |  |

6,716 |  | 4,927 |  |

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 6,423 |  | 5,751 |  |

| Hire purchase contracts | 16,788 |  | 4,548 |  |

| Trade creditors | 117 |  | - |  |

| Taxation and social security | 1,007 |  | 1,280 |  |

| Other creditors | 59,493 |  | 44,213 |  |

83,828 |  | 55,792 |  |

Huggate Church Farm Properties Limited (Registered number: 00469616)

Notes to the Financial Statements - continued

for the year ended 5th April 2025

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans | 53,159 |  | 59,554 |  |

| Hire purchase contracts | 55,961 |  | 17,669 |  |

| Other creditors | 39,500 |  | 39,500 |  |

148,620 |  | 116,723 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loan | 21,993 |  | 39,012 |  |

10. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank loans | 59,582 |  | 65,305 |  |

| Hire purchase contracts | 72,749 |  | 22,217 |  |

132,331 |  | 87,522 |  |

| Bank loans and overdrafts are secured by way of a legal charge over freehold land and buildings.

| Hire purchase contracts are secured over the related asset.