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Registered number: 6580108 S T PENDLEBURY LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
S T PENDLEBURY LIMITED REGISTERED NUMBER: 6580108 BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 315,735 |  | 279,684
Biological assets |  |  | 100,000 |  | 82,080
|  |  | 415,735 |  | 361,764
Current assets |  |  |  |  |
Stocks |  | 44,766 |  | 49,541 |
Debtors: amounts falling due within one year | 6 | 79,048 |  | 57,775 |
Cash at bank and in hand |  | 1,002 |  | 42,324 |
|  | 124,816 |  | 149,640 |
Creditors: amounts falling due within one year | 7 | (125,301) |  | (186,987) |
Net current liabilities |  |  | (485) |  | (37,347)
Total assets less current liabilities |  |  | 415,250 |  | 324,417
Creditors: amounts falling due after more than one year | 8 |  | (18,574) |  | (13,304)
Provisions for liabilities |  |  |  |  |
Deferred tax |  | (35,918) |  | (26,905) |
|  |  | (35,918) |  | (26,905)
Net assets |  |  | 360,758 |  | 284,208
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1 |  | 1
Profit and loss account |  |  | 360,757 |  | 284,207
|  |  | 360,758 |  | 284,208
Page 1
S T PENDLEBURY LIMITED REGISTERED NUMBER: 6580108 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ Mr S Pendlebury
Director
Date: 4 December 2025
The notes on pages 3 to 11 form part of these financial statements. Page 2
S T PENDLEBURY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
S T Pendlebury Limited is a private company limited by shares incorporated in England and Wales. The registed office is Lipley Farm, Cheswardine, Market Drayton, Shropshire, TF9 2SQ. The principal activity continues to be that of farming. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.3 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 3
S T PENDLEBURY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.4 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.5 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.6 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.7 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Page 4
S T PENDLEBURY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.8 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. The estimated useful lives range as follows:
|  |  |  | Milk quota | - |  | fully amortised
| 2.9 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. Depreciation is provided on the following basis:
|  |  |  | Improvements to property | - |  | not provided
|  |  |  | Plant and machinery | - | 20% | reducing balance
|  |  |  | Motor vehicles | - | 25% | reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.10 | Biological assets
Biological assets are recognised only when three recognition criteria have been fulfilled: • the entity has control over the asset as a result of past events; • it is probable that future economic benefits associated with the asset will flow to the entity; and • the fair value or cost of the asset can be measured reliably. Where the company opts to measure a biological asset under the fair value model on initial recognition it must carry the asset at fair value at each reporting date. Changes in fair value less costs to sell are recognised in profit or loss. Where the company opts to measure agricultural produce harvested from the biological asset it is measured at fair value less costs to sell at the point of harvest. This measurement becomes the cost at the date the company applies Section 13 Inventories to the agricultural produce. Page 5
S T PENDLEBURY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.11 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.12 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.13 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.14 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.15 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
| The average monthly number of employees, including directors, during the year was 4 (2024 - 4).
Page 6
S T PENDLEBURY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. | Intangible assets
|  | Milk Quota
|  | £
| Cost |
| At 1 April 2024 | 199,442
| At 31 March 2025 | 199,442
| Amortisation |
| At 1 April 2024 | 199,442
| At 31 March 2025 | 199,442
| Net book value |
| At 31 March 2025 | -
| At 31 March 2024 | -
Page 7
S T PENDLEBURY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. | Tangible fixed assets
|  | Improvements to property | Plant and machinery | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 April 2024 | 172,064 | 349,950 | 522,014
| Additions | - | 94,908 | 94,908
| Disposals | - | (70,000) | (70,000)
| At 31 March 2025 | 172,064 | 374,858 | 546,922
| Depreciation |  |  |
| At 1 April 2024 | - | 242,331 | 242,331
| Charge for the year on owned assets | - | 35,918 | 35,918
| Disposals | - | (47,062) | (47,062)
| At 31 March 2025 | - | 231,187 | 231,187
| Net book value |  |  |
| At 31 March 2025 | 172,064 | 143,671 | 315,735
| At 31 March 2024 | 172,064 | 107,620 | 279,684
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 64,515 | 51,313
| Other debtors | 14,533 | 6,462
|  | 79,048 | 57,775
Page 8
S T PENDLEBURY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank overdrafts | 48,307 | -
| Bank loans | 10,248 | 9,928
| Trade creditors | 46,556 | 77,701
| Corporation tax | 13,190 | 9,474
| Obligations under finance lease and hire purchase contracts | 7,000 | -
| Other creditors | - | 89,884
|  | 125,301 | 186,987
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 2,814 | 13,304
| Net obligations under finance leases and hire purchase contracts | 15,760 | -
|  | 18,574 | 13,304
| The bank loan is the Government backed Bounce Back Loan. The hire purchase liability is secured against the assets purchased on hire purchase.
Page 9
S T PENDLEBURY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
9. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 10,248 | 9,928
|  | 10,248 | 9,928
| Amounts falling due 1-2 years |  |
| Bank loans | 2,814 | 13,304
|  | 2,814 | 13,304
|  | 13,062 | 23,232
10. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Within one year | 11,711 | -
| Between 1-5 years | 55,444 | -
|  | 67,155 | -
11. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | (26,905)
| Charged to profit or loss | (9,013)
| At end of year | (35,918)
Page 10
S T PENDLEBURY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11.Deferred taxation (continued)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (35,918) | (26,905)
|  | (35,918) | (26,905)
12. | Director's loan account
At the year end, the director owed the company £9,636. This was repaid within 9 months of the year end.
Page 11