F J Clabon Potatoes Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05268306

F J Clabon Potatoes Limited

Unaudited financial statements

31 March 2025

F J Clabon Potatoes Limited

Statement of financial position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	6	2,734,118	1,539,277
Investments	7	845,010	845,010
		-----------	-----------
		3,579,128	2,384,287

Current assets

Stocks		295,786	133,745
Debtors	8	81,646	121,014
Cash at bank and in hand		696,304	1,214,969
		-----------	-----------
		1,073,736	1,469,728

Creditors: Amounts falling due within one year	9	( 278,221)		( 305,843)
		-----------		-----------
Net current assets			795,515		1,163,885
			-----------		-----------
Total assets less current liabilities			4,374,643		3,548,172

Creditors: Amounts falling due after more than one year	10		( 730,394)		–

Provisions

Taxation including deferred tax	( 36,183)	( 38,375)
	-----------	-----------
Net assets	3,608,066	3,509,797
	-----------	-----------

Capital and reserves

Called up share capital	13	100	100
Profit and loss account		3,607,966	3,509,697
		-----------	-----------
Shareholders funds		3,608,066	3,509,797
		-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the 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 year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

F J Clabon Potatoes Limited

Statement of financial position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 1 December 2025 , and are signed on behalf of the board by:

P J Clabon	R J Clabon
Director	Director

Company registration number: 05268306

F J Clabon Potatoes Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Rookery Farm, Mundesley Road, North Walsham, Norfolk, NR28 0RF.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Deferred tax

Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant and machinery	-	15% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Stocks

Commodity stocks and cultivations are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Government grants

Included within other income is the Basic Payment Scheme grant of £3,161 receivable from The Rural Payments Agency under European Common Agricultural Policy regulations. Without this income, there would have been a profit for the year before tax of £147,962. Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

4. Employee numbers

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

5. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	32,693	80,096
Adjustments in respect of prior periods	( 16)	–
	-------	-------
Total current tax	32,677	80,096
	-------	-------

Deferred tax:

Origination and reversal of timing differences	( 2,192)	23,725
	-------	---------
Tax on profit	30,485	103,821
	-------	---------

6. Tangible assets

	Land and buildings	Plant and machinery	Total
	£	£	£
Cost
At 1 April 2024	1,385,779	203,028	1,588,807
Additions	1,203,608	–	1,203,608
	-----------	---------	-----------
At 31 March 2025	2,589,387	203,028	2,792,415
	-----------	---------	-----------
Depreciation
At 1 April 2024	–	49,530	49,530
Charge for the year	–	8,767	8,767
	-----------	---------	-----------
At 31 March 2025	–	58,297	58,297
	-----------	---------	-----------
Carrying amount
At 31 March 2025	2,589,387	144,731	2,734,118
	-----------	---------	-----------
At 31 March 2024	1,385,779	153,498	1,539,277
	-----------	---------	-----------

7. Investments

	Other investments other than loans
	£
Cost
At 1 April 2024 and 31 March 2025	845,010
	---------
Impairment
At 1 April 2024 and 31 March 2025	–
	---------

Carrying amount
At 31 March 2025	845,010
	---------
At 31 March 2024	845,010
	---------

8. Debtors

	2025	2024
	£	£
Trade debtors	64,045	–
Other debtors	17,601	121,014
	-------	---------
	81,646	121,014
	-------	---------

9. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	19,606	–
Social security and other taxes	32,693	80,096
Amount owed to shareholders	12,232	12,232
Other creditors	213,690	213,515
	---------	---------
	278,221	305,843
	---------	---------

The bank loan has been secured against assets owned by the company.

10. Creditors: Amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	730,394	–
	---------	----

The bank loan has been secured against assets owned by the company.

11. Government grants

The amounts recognised in the financial statements for government grants are as follows:

	2025	2024
	£	£

Recognised in other operating income:

Government grants recognised directly in income	3,161	4,286
	------	------

12. Financial instruments

The carrying amount for each category of financial instrument is as follows:

	2025	2024
	£	£

Financial assets measured at fair value through profit or loss

Unlisted investments	845,010	845,010
	---------	---------

13. Called up share capital

Issued, called up and fully paid

2025		2024
No.	£	No.	£

Amounts presented in equity:

Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

Amounts presented in liabilities:

Preference A shares shares of £ 1 each	105,000	105,000	105,000	105,000
Preference B shares shares of £ 1 each	105,000	105,000	105,000	105,000
	---------	---------	---------	---------
	210,000	210,000	210,000	210,000
	---------	---------	---------	---------

14. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
P J Clabon	–	1,000	1,000
R J Clabon	–	1,000	1,000
	----	------	------
	–	2,000	2,000
	----	------	------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
P J Clabon	–	–	–
R J Clabon	–	–	–
	----	----	----
	–	–	–
	----	----	----