REGISTERED NUMBER: 03331831 (England and Wales)

N J R Farming Limited

Unaudited Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

EM Astley-Arlington

SECRETARY:

EM Astley-Arlington

REGISTERED OFFICE:

Middlethorpe Grange

Caunton

Newark

Nottinghamshire

NG23 6BB

REGISTERED NUMBER:

03331831 (England and Wales)

ACCOUNTANTS:

The Hutchinson Partnership Limited

trading as The Hutchinson Partnership

Chartered Accountants

The Bull Pen

Grove Farm

Portway, Burghill

Hereford

HR4 8NF

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of N J R Farming Limited for the year ended 31 March 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of N J R Farming Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of N J R Farming Limited and state those matters that we have agreed to state to the director of N J R Farming Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than N J R Farming Limited and its director for our work or for this report.

It is your duty to ensure that N J R Farming Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of N J R Farming Limited. You consider that N J R Farming Limited 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 financial statements of N J R Farming Limited. 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 financial statements.

The Hutchinson Partnership Limited

trading as The Hutchinson Partnership

Chartered Accountants

The Bull Pen

Grove Farm

Portway, Burghill

Hereford

HR4 8NF

4 December 2025

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

503,334

493,019

503,334

493,019

CURRENT ASSETS

Stocks

50,662

63,292

Debtors

6

736,261

1,347,193

Cash at bank

413,947

626,062

1,200,870

2,036,547

CREDITORS

Amounts falling due within one year

7

229,564

152,562

NET CURRENT ASSETS

971,306

1,883,985

TOTAL ASSETS LESS CURRENT LIABILITIES

1,474,640

2,377,004

CREDITORS

Amounts falling due after more than one year

8

(13,755

)

(16,048

)

PROVISIONS FOR LIABILITIES

9

(39,726

)

(31,629

)

NET ASSETS

1,421,159

2,329,327

CAPITAL AND RESERVES

Allotted, issued and fully

paid share capital

220,000

420,000

Capital redemption reserve

250,645

50,645

Retained earnings

950,514

1,858,682

SHAREHOLDERS' FUNDS

1,421,159

2,329,327

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 December 2025 and were signed by:

EM Astley-Arlington - Director

1.	STATUTORY INFORMATION

N J R Farming 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.

The principal place of business is Home Farm, Acton Reynald, Shrewsbury, Shropshire, SY4 4DS.

2.	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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The director has considered the financial requirements of the company and considers that it will be able to operate within its agreed finance facilities for the next 12 months. The director therefore considers it appropriate to prepare the accounts on the going concern basis.

Turnover

Turnover represents milk sales, livestock sales and subsidies stated net of discounts, rebates, value added tax and other sales taxes.

The company recognises revenue when the significant risks and rewards of ownership have passed to the buyer, when the amount of revenue can be measured reliably, when it is probable that the economic benefits associated with the transaction will flow to the entity and when the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from services is recognised in the accounting periods in which the services are rendered.

The following criteria must be met before revenue is recognised:

Milk sales are recognised when the milk is collected from the farm.

Livestock sales are recognised when the animals are sold at market or delivered to the abattoir.

Grant and subsidy revenue is recognised under the accruals basis and so is recognised as income in the period to which the grant relates.

Intangible fixed assets

Entitlements - the value of purchased entitlements was written off over the life of the scheme which concluded in 2012 and have therefore been fully amortised.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Improvements to leasehold property

-

10% on cost

Plant and machinery

-

15% on reducing balance and 10% on cost

Motor vehicles

-

25% on reducing balance

Herd

-

25% on cost less residual value and 20% on cost less residual value

The herd is a biological asset.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Included in stocks is livestock which is a biological asset. It is valued at estimated cost with reference to market value.

Financial instruments

The company has issued loans of £420,000 (2024: £1,120,000) through Folk 2 Folk lending. Interest on these is recognised when received. The recoverability of the loans is reviewed annually by the directors and their carrying values are adjusted accordingly. At present there are no indications that any of the loans are irrecoverable so they are recognised at their historical issued amount.

All other financial instruments are basic and are carried at historic cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income 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 are expected to apply to the reversal of the timing difference.

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.

3.

EMPLOYEES

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

4.	INTANGIBLE FIXED ASSETS

Entitlements

£

COST

At 1 April 2024

and 31 March 2025

99,068

AMORTISATION

At 1 April 2024

and 31 March 2025

99,068

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Improvements

to

leasehold

Plant and

Motor

property

machinery

vehicles

Herd

Totals

£

£

£

£

£

COST

At 1 April 2024

56,582

394,028

500

396,966

848,076

Additions

-

27,096

-

140,950

168,046

Disposals

-

(41,750

)

-

(65,250

)

(107,000

)

At 31 March 2025

56,582

379,374

500

472,666

909,122

DEPRECIATION

At 1 April 2024

47,048

221,502

342

86,165

355,057

Charge for year

1,191

26,807

39

68,814

96,851

Eliminated on disposal

-

(27,720

)

-

(18,400

)

(46,120

)

At 31 March 2025

48,239

220,589

381

136,579

405,788

NET BOOK VALUE

At 31 March 2025

8,343

158,785

119

336,087

503,334

At 31 March 2024

9,534

172,526

158

310,801

493,019

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

124,460

90,283

Other debtors

200,000

525,000

Directors' loan accounts

40,380

39,130

VAT

26,915

34,292

Prepayments

114,364

53,346

506,119

742,051

2025

2024

£

£

Amounts falling due after more than one year:

Other debtors > 1 yr

230,142

605,142

Aggregate amounts

736,261

1,347,193

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

99,759

117,349

Corporation tax payable

61,262

-

Other creditors

20

20

Accruals and deferred income

68,523

35,193

229,564

152,562

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Accruals and deferred income

13,755

16,048

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Deferred tax - accelerated

capital allowances

39,726

43,171

Deferred tax - revenue losses

-

(11,542

)

39,726

31,629

Deferred

tax

£

Balance at 1 April 2024

31,629

Accelerated capital allowances

(3,445

)

Revenue losses

11,542

Balance at 31 March 2025

39,726

10.	FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £155,738 (2024: £123,224). The financial commitments are all due within a year and are for land and property rent.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

NJ Robertson

Balance outstanding at start of year

39,130

37,880

Amounts advanced

1,250

1,250

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

40,380

39,130

Interest was charged on the original overdrawn amounts of £25,000 (2024: £25,000) at 5% (2024: 5%) and is represented by the amounts advanced to directors in the year.

12.	RELATED PARTY DISCLOSURES

Included in accrued expenses at the year end is a balance of £NIL (2024: £4,500) due to a partnership in which one of the directors is a partner. During the year, the partnership charged the company £4,750 (2024: £4,500) for bookkeeping services.

During the year, N J R Farming Limited purchased cattle from a company which is controlled by one of the directors for £NIL (2024: £34,916). N J R Farming Limited also purchased machinery from this company for £NIL (2024: £41,700).