REGISTERED NUMBER: 00391977 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

North Cotes Farm,Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

Fixed assets

Tangible assets

4

3,488,740

3,417,431

Current assets

Stocks

655,350

593,791

Debtors

5

183,036

169,992

Cash at bank

103,489

293,377

941,875

1,057,160

Creditors

Amounts falling due within one year

6

2,052,375

2,623,644

Net current liabilities

(1,110,500

)

(1,566,484

)

Total assets less current liabilities

2,378,240

1,850,947

Creditors

Amounts falling due after more than one year

7

(114,733

)

(79,446

)

Provisions for liabilities

(299,349

)

(220,503

)

Net assets

1,964,158

1,550,998

Capital and reserves

Called up share capital

10

350

350

Share premium

(139,750

)

(139,750

)

Retained earnings

2,103,558

1,690,398

Shareholders' funds

1,964,158

1,550,998

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 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.

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 17 November 2025 and were signed on its behalf by:

D C Watts - Director

1.	Statutory information

North Cotes Farm,Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

00391977

Registered office:

Watts House

Carnaby Industrial Estate

Lancaster Road ,Carnaby

Bridlington

East Riding

YO15 3QY

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention modified to include certain items at fair value.The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold land

No depreciation

Plant and machinery

20% on reducing balance

Egg processing equipment

12.5% or 33% Straight line

Motor Vehicles

25% on reducing balance

Stocks

The produce has been valued at cost of production and all other stocks ie seed, fertiliser & sprays are at cost. The cultivations are based on costs provided by the CAAV - Central Association of Agricultural Valuers. Egg-laying pullets are purchased as a batch, with the initial cost written down on a straight line basis across the period of lay.

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

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.

Leases

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Taxation

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.

Turnover and other income

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of produce is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Interest and dividends receivable

Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the performance/accrual model.

3.	Employees and directors

The average number of employees during the year was 8 (2024 - 8 ) .

4.	Tangible fixed assets

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

At 1 April 2024

2,193,002

2,376,616

4,569,618

Additions

-

451,552

451,552

Disposals

-

(191,352

)

(191,352

)

At 31 March 2025

2,193,002

2,636,816

4,829,818

Depreciation

At 1 April 2024

-

1,152,187

1,152,187

Charge for year

-

312,632

312,632

Eliminated on disposal

-

(123,741

)

(123,741

)

At 31 March 2025

-

1,341,078

1,341,078

Net book value

At 31 March 2025

2,193,002

1,295,738

3,488,740

At 31 March 2024

2,193,002

1,224,429

3,417,431

5.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

153,828

147,747

Amounts owed by related undertakings

-

18,720

Other debtors

29,208

3,525

183,036

169,992

6.

Creditors: amounts falling due within one year

2025

2024

£

£

Hire purchase contracts (see note 8)

133,246

135,835

Trade creditors

158,430

126,540

Amounts owed to related undertakings

1,351,150

1,952,754

Taxation and social security

77,783

52,016

Other creditors

331,766

356,499

2,052,375

2,623,644

7.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Hire purchase contracts (see note 8)

114,733

79,446

8.	Leasing agreements

Minimum lease payments under hire purchase fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

133,246

135,835

Between one and five years

114,733

79,446

247,979

215,281

The company rents land under a no-notice rolling lease.

9.	Secured debts

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

247,979

215,281

The hire purchase contracts are secured on the assets to which the finance agreement relates.

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

350

Ordinary

£1

350

350

11.	Ultimate controlling party

The company is a wholly owned subsidiary of Watts Group Yorkshire Limited (formerly WWW & K Watts Limited), whose registered office is Watts House, Carnaby Industrial Estate, Lancaster Road, Bridlington, East Yorkshire YO15 3QY.

12.	Going concern

The company's balance sheet shows net current liabilities of £1,110,500. The directors, have confirmed in writing that they will personally provide the funds necessary to ensure that the company will be able to meet its liabilities as they fall due up to at least 31 December 2026 and that repayment of the balances standing to the credit of their loan accounts and credit balances due to connected entities, in which they hold controlling interests, will be postponed until after that date to the extent that any repayment would prejudice the payment of the company's debts as they fall due.