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Company No: 12017273 (England and Wales)

# THE CULM VALLEY LIMITED

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

THE CULM VALLEY LIMITED

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

THE CULM VALLEY LIMITED

## BALANCE SHEET

As at 31 March 2025
THE CULM VALLEY LIMITED

## BALANCE SHEET (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 578,366 |  | 600,607
|  | 578,366 |  | 600,607
Current assets |  |  |  |
Stocks | 4 | 10,545 |  | 8,718
Debtors | 5 | 2,891 |  | 5,647
Cash at bank and in hand |  | 253,470 |  | 184,103
|  | 266,906 |  | 198,468
Creditors: amounts falling due within one year | 6 | ( 413,498) |  | ( 342,845)
Net current liabilities |  | (146,592) |  | (144,377)
Total assets less current liabilities |  | 431,774 |  | 456,230
Creditors: amounts falling due after more than one year | 7 | 0 |  | ( 11,667)
Provision for liabilities |  | ( 25,566) |  | ( 28,593)
Net assets |  | 406,208 |  | 415,970
Capital and reserves |  |  |  |
Called-up share capital | 8 | 60 |  | 60
Profit and loss account |  | 406,148 |  | 415,910
Total shareholders' funds |  | 406,208 |  | 415,970

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 financial statements for the financial year in accordance with section 476;
- The directors acknowledge 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 The Culm Valley Limited (registered number: 12017273) were approved and authorised for issue by the Board of Directors on 25 November 2025. They were signed on its behalf by:

C A Clarke Director |

THE CULM VALLEY LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
THE CULM VALLEY LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 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

The Culm Valley 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 Homeleigh Croyle, Kentisbeare, Cullompton, EX15 2AN, 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 £.

##### Turnover

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 value added tax, returns, rebates and discounts and after eliminating sales within the company.
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.

##### 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

##### 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 reducing balance basis over its expected useful life, as follows:

Land and buildings | 50 years straight line
Plant and machinery | 25 % reducing balance
Fixtures and fittings | 20 % reducing balance

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.

##### 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 calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 33 |  | 44

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 April 2024 | 506,492 |  | 63,396 |  | 106,084 |  | 675,972
Additions | 0 |  | 4,252 |  | 9,883 |  | 14,135
At 31 March 2025 | 506,492 |  | 67,648 |  | 115,967 |  | 690,107
Accumulated depreciation |  |  |  |  |  |  |
At 01 April 2024 | 20,260 |  | 22,639 |  | 32,466 |  | 75,365
Charge for the financial year | 10,130 |  | 10,813 |  | 15,433 |  | 36,376
At 31 March 2025 | 30,390 |  | 33,452 |  | 47,899 |  | 111,741
Net book value |  |  |  |  |  |  |
At 31 March 2025 | 476,102 |  | 34,196 |  | 68,068 |  | 578,366
At 31 March 2024 | 486,232 |  | 40,757 |  | 73,618 |  | 600,607

#### 4. Stocks

| 2025 |  | 2024
| £ |  | £
Stocks | 10,545 |  | 8,718

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Other debtors | 2,891 |  | 5,647

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 0 |  | 10,000
Trade creditors | 8,241 |  | 16,568
Amounts owed to related parties | 373,163 |  | 272,425
Taxation and social security | 15,242 |  | 32,286
Other creditors | 16,852 |  | 11,566
| 413,498 |  | 342,845

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

| 2025 |  | 2024
| £ |  | £
Bank loans | 0 |  | 11,667

There are no amounts included above in respect of which any security has been given by the small entity.

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
60 Ordinary shares of £ 1.00 each | 60 |  | 60

#### 9. Related party transactions

Other related party transactions

| 2025 |  | 2024
| £ |  | £
Frank Clarke & Sons Ltd | 373,163 |  | 272,425

At the year end, the balance on the loan due to Frank Clarke & Sons Ltd was £373,163 (2024 - £272,425), which is
repayable on demand and no interest being charged.