In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Old Downs Farm Limited for the year ended 31 March 2025 which comprise, the balance sheet, the statement of changes in equity and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Old Downs Farm Limited, as a body, in accordance with the terms of our engagement letter dated 12 August 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Old Downs Farm Limited and state those matters that we have agreed to state to the board of directors of Old Downs Farm Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Old Downs Farm Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Old Downs Farm Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Old Downs Farm Limited. You consider that Old Downs Farm Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Old Downs Farm Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Old Downs Farm Limited is a private company limited by shares incorporated in England and Wales. The registered office is Chavereys Limited, The Goods Shed, Jubilee Way, Faversham, Kent, England, ME13 8GD. The principal place of business is Old Downs Farm, Guilford Road, Sandwich Bay, Sandwich, Kent, England, CT13 9PF. The trading address is Old Downs Farm, Guilford Road, Sandwich Bay, Sandwich, Kent, CT13 9PF.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to the profit and loss account.

Partnership interests

The company's interest in RA & EP Daw Farmers, an unincorporated farming business, is dealt with in the financial statements by the equity method of accounting. This is the profit and loss account includes in turnover the company's share of the partnership profit's, and the company's share of profits less any drawings are added to the costs in the balance sheet.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

The average monthly number of persons (including directors) employed by the company during the year was:

At the start of the period the amount owed to R A Daw and E P Daw, who are both directors was £51,880. During the period there were no further transactions. At the end of the year the total amount owed to the directors was £51,880.

The company was under the joint control of R A Daw and E P Daw throughout the period.