REGISTERED NUMBER: 01110809 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2025

for

John Farbon & Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Mr J E Farbon

Mr T R E Farbon

Registered office:

Cold Green Farm

Bosbury

Ledbury

Herefordshire

HR8 1NJ

Registered number:

01110809 (England and Wales)

Accountants:

Crowthers Chartered Accountants

1 Ripple Court

Brockeridge Park

Tewkesbury

Gloucestershire

GL20 6FG

FIXED ASSETS

Property, plant and equipment

4

1,875,824

1,893,160

CURRENT ASSETS

Inventories

170,728

164,596

Debtors

5

19,577

12,602

190,305

177,198

CREDITORS

Amounts falling due within one year

6

322,740

275,626

NET CURRENT LIABILITIES

(132,435

)

(98,428

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,743,389

1,794,732

PROVISIONS FOR LIABILITIES

(80,583

)

(93,402

)

ACCRUALS AND DEFERRED INCOME

(2,794

)

(3,064

)

NET ASSETS

1,660,012

1,698,266

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Revaluation reserve

8

1,409,062

1,409,062

Retained earnings

240,950

279,204

SHAREHOLDERS' FUNDS

1,660,012

1,698,266

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Income Statement 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:

Mr J E Farbon - Director

1.	STATUTORY INFORMATION

John Farbon & Company 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 presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents the fair value of services provided under contracts with customers to the extent that there is a right to consideration. It is measured at the fair value of the consideration due. Where a service is incomplete at the year end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion.

Invoices are not raised until the contract is complete so the value of incomplete services is included as amount recoverable on contracts in the balance sheet.

Tangible fixed assets

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

Land and buildings

-

Straight line over 7 years and NIL

Plant and machinery etc

-

10% to 25 % reducing balance

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

Stocks

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

Stocks comprises raw material, work in progress, finished goods and goods for resale and is valued at the lower of cost and net realisable value.

The cost of raw material and goods for resale is purchase price on a first in first out basis. Net realisable value is calculated as the selling price of the finished product or goods for resale less any costs still to be incurred in getting items into their finished state. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than the cost of the manufacture.

Work in progress comprises a farm building now held for development and sale as a residential property. Work in progress is the historic cost of the building and related works to date.

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.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, which are described in note 2, the directors are required to make judgements; estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered· to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

3.	EMPLOYEES AND DIRECTORS

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

4.	PROPERTY, PLANT AND EQUIPMENT

Freehold

Solar

Plant and

Motor

property

panels

machinery

vehicles

Totals

£

£

£

£

£

Cost or valuation

At 1 May 2024

1,850,000

58,245

446,996

23,000

2,378,241

Disposals

-

-

-

(23,000

)

(23,000

)

At 30 April 2025

1,850,000

58,245

446,996

-

2,355,241

Depreciation

At 1 May 2024

-

58,245

417,417

9,419

485,081

Charge for year

-

-

3,755

-

3,755

Eliminated on disposal

-

-

-

(9,419

)

(9,419

)

At 30 April 2025

-

58,245

421,172

-

479,417

Net book value

At 30 April 2025

1,850,000

-

25,824

-

1,875,824

At 30 April 2024

1,850,000

-

29,579

13,581

1,893,160

Cost or valuation at 30 April 2025 is represented by:

Freehold

Solar

Plant and

property

panels

machinery

Totals

£

£

£

£

Valuation in 2000

907,022

-

-

907,022

Valuation in 2003

632,680

-

-

632,680

Valuation in 2007

129,000

-

-

129,000

Valuation in 2010

(419,163

)

-

-

(419,163

)

Valuation in 2017

150,000

-

-

150,000

Valuation in 2020

95,542

-

-

95,542

Cost

354,919

58,245

446,996

860,160

1,850,000

58,245

446,996

2,355,241

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

354,919

354,919

Freehold land and buildings were valued on an open market basis on 30 April 2024 by the Directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

11,681

4,842

Other debtors

7,896

7,760

19,577

12,602

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

244,757

222,849

Hire purchase contracts

-

1,811

Trade creditors

370

845

Taxation and social security

1,806

3,458

Other creditors

75,807

46,663

322,740

275,626

7.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

244,757

222,849

The bank loan and overdraft are secured by a charge on the freehold land and buildings and by a floating charge on all the assets of the company.

8.

RESERVES

Revaluation

reserve

£

At 1 May 2024

and 30 April 2025

1,409,062

The tax treatment of items in the revaluation reserve is that on disposal of the underlying asset, corporation tax will be chargeable on the gain calculated as the difference between the indexed base cost and fair value of proceeds received. The company had brought forward capital losses and carried forward trading losses from the current year which are likely to be eligible to be offset against any future gain.

Where deferred tax is recognised the movement attributable to revalued property is taken to the revaluation reserve through other comprehensive income.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to 30 April 2025 directors subsisted during the years ended 30 April 2025 and 30 April 2024:

2025

2024

£

£

Mr J E Farbon

Balance outstanding at start of year

(43,522

)

(24,625

)

Amounts advanced

13,218

9,642

Amounts repaid

(42,250

)

(28,539

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(72,554

)

(43,522

)

Mr T R E Farbon

Balance outstanding at start of year

(3,140

)

2,362

Amounts advanced

877

503

Amounts repaid

(989

)

(6,005

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(3,252

)

(3,140

)

The above loans are unsecured, there are no fixed repayment terms and interest has been charged at the HMRC beneficial loan rate where the account is overdrawn. Loans from the directors owed by the company are interest free.Mrs D C Farbon introduced an amount of £19,584 into the company in the year ended 30 April 2015 and an amount of £5,000 in the year ended 30 April 2016.