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Company No: 09959385 (England and Wales)

# THE BENACRE COMPANY LIMITED

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

THE BENACRE COMPANY LIMITED

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

THE BENACRE COMPANY LIMITED

## BALANCE SHEET

As at 31 March 2025
THE BENACRE COMPANY LIMITED

## BALANCE SHEET (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 4 | 44,128,743 |  | 42,841,829
Investment property | 5 | 35,662,767 |  | 34,947,407
|  | 79,791,510 |  | 77,789,236
Current assets |  |  |  |
Stocks |  | 640,298 |  | 729,550
Debtors | 6 | 1,239,164 |  | 1,062,927
Cash at bank and in hand |  | 947,432 |  | 1,998,046
|  | 2,826,894 |  | 3,790,523
Creditors: amounts falling due within one year | 7 | ( 924,603) |  | ( 1,014,634)
Net current assets |  | 1,902,291 |  | 2,775,889
Total assets less current liabilities |  | 81,693,801 |  | 80,565,125
Provision for liabilities |  | ( 3,374,035) |  | ( 3,352,409)
Net assets |  | 78,319,766 |  | 77,212,716
Capital and reserves |  |  |  |
Called-up share capital | 8 | 58,426,177 |  | 58,426,176
Share premium account |  | 1,258,649 |  | 0
Revaluation reserve |  | 18,568,662 |  | 18,290,534
Profit and loss account |  | 66,278 |  | 496,006
Total shareholders' funds |  | 78,319,766 |  | 77,212,716

For the financial 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 financial year in accordance with section 476;
- 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of The Benacre Company Limited (registered number: 09959385) were approved and authorised for issue by the Board of Directors on 02 December 2025. They were signed on its behalf by:

Mrs L Hutson MVO DL Director |

THE BENACRE COMPANY LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
THE BENACRE COMPANY LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

The Benacre Company is a private limited company, incorporated in England and Wales with registration number 09959385. The address of the registered office is The Estate and Farms Office, Hall Farm, Benacre, Beccles, Suffolk, NR34 7LJ.
The statutory accounts have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

##### Foreign currency

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the Balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Statement of comprehensive income.

##### Turnover

Turnover represents farming produce income, water income, solar income, timber and associated services sold during the year as well as rental and related income that is recognised on an accruals basis. Turnover also includes the Basic Payment and other government grants which are recognised on an accruals basis.

##### Interest income

Interest income is recognised in the Statement of comprehensive income on an accruals basis.

##### Taxation

Current tax
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income.
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.
Deferred tax
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 is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

##### Tangible fixed assets

Tangible fixed assets, other than freehold land and property, are stated at historical cost less accumulated depreciation.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:

Land and buildings | 0 - 50 years straight line
| not depreciated
Plant and machinery | 1 - 10 years straight line
Vehicles | 1 - 5 years straight line
Fixtures and fittings | 1 - 7 years straight line
Other property, plant and equipment | 2 - 20 years straight line

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.
Freehold land and property is included at its indicative market value for existing use and is revalued annually.

##### Leases

The Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

##### Stocks

Stock is valued at the lower of cost and net realisable value.

##### Financial instruments

Financial assets and financial liabilities are recognised in the Balance sheet when the company becomes a party to the contractual provisions of the instrument.
Trade and other debtors and creditors are classified as basic financial instruments and measured at transaction price less any provision for debtors that are considered by the directors to be doubtful.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

##### Investment property

Investment property is carried at fair value determined by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

##### Intangible assets

Intangible assets which were transferred to the company at nil cost in the period ended 31 March 2017 are held at fair value and a deferred income liability recognised. The deferred income is released over the useful life of the asset to match the related amortisation. Purchased Basic Payment Entitlements are held at cost and amortised over the useful life of the asset to 2022.

##### Pensions

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 a expense in the Statement of comprehensive income 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. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 20 |  | 20

#### 3. Intangible assets

| Entitlements |  | Total
| £ |  | £
Cost |  |  |
At 01 April 2024 | 38,484 |  | 38,484
At 31 March 2025 | 38,484 |  | 38,484
Accumulated amortisation |  |  |
At 01 April 2024 | 38,484 |  | 38,484
At 31 March 2025 | 38,484 |  | 38,484
Net book value |  |  |
At 31 March 2025 | 0 |  | 0
At 31 March 2024 | 0 |  | 0

#### 4. Tangible assets

| Land and buildings |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Other property, plant and equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £ |  | £
Cost/Valuation |  |  |  |  |  |  |  |  |  |  |
At 01 April 2024 | 41,362,595 |  | 1,335,520 |  | 168,208 |  | 103,564 |  | 1,898,570 |  | 44,868,457
Additions | 315,674 |  | 575,031 |  | 0 |  | 1,359 |  | 0 |  | 892,064
Disposals | 0 |  | ( 16,280) |  | ( 41,500) |  | 0 |  | 0 |  | ( 57,780)
Transfers from investment property | 406,728 |  | 0 |  | 0 |  | 0 |  | 0 |  | 406,728
Revaluations | 377,238 |  | 0 |  | 0 |  | 0 |  | 0 |  | 377,238
At 31 March 2025 | 42,462,235 |  | 1,894,271 |  | 126,708 |  | 104,923 |  | 1,898,570 |  | 46,486,707
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |
At 01 April 2024 | 0 |  | 484,497 |  | 78,309 |  | 74,649 |  | 1,389,173 |  | 2,026,628
Charge for the financial year | 81,700 |  | 197,365 |  | 18,112 |  | 11,012 |  | 123,340 |  | 431,529
Disposals | 0 |  | ( 10,885) |  | ( 7,608) |  | 0 |  | 0 |  | ( 18,493)
Reversal of depreciation on revaluation | ( 81,700) |  | 0 |  | 0 |  | 0 |  | 0 |  | ( 81,700)
At 31 March 2025 | 0 |  | 670,977 |  | 88,813 |  | 85,661 |  | 1,512,513 |  | 2,357,964
Net book value |  |  |  |  |  |  |  |  |  |  |
At 31 March 2025 | 42,462,235 |  | 1,223,294 |  | 37,895 |  | 19,262 |  | 386,057 |  | 44,128,743
At 31 March 2024 | 41,362,595 |  | 851,023 |  | 89,899 |  | 28,915 |  | 509,397 |  | 42,841,829

#### 5. Investment property

| Investment property
| £
Valuation |
As at 01 April 2024 | 34,947,407
Additions | 1,077,884
Fair value movement | 44,204
Transfers to and from land and buildings | (406,728)
As at 31 March 2025 | 35,662,767

#### 6. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 80,162 |  | 88,338
Prepayments and accrued income | 926,173 |  | 686,776
Other debtors | 232,829 |  | 287,813
| 1,239,164 |  | 1,062,927

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 331,960 |  | 775,286
Accruals and deferred income | 492,367 |  | 135,869
Corporation tax | 0 |  | 3,654
Other taxation and social security | 16,913 |  | 19,638
Other creditors | 83,363 |  | 80,187
| 924,603 |  | 1,014,634

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
58,426,177 Ordinary shares of £ 1.00 each (2024: 58,426,176 shares of £ 1.00 each) | 58,426,177 |  | 58,426,176

During the year the company issued 1 Ordinary share of £1.00 each. These were issued at a premium of £1,258,649.

#### 9. Related party transactions

During the year, the company recharged £56,140 (2024: £69,949) of expenses to the directors. £831 (2024: £5,032) was due from the directors at the year end.

#### 10. Fixed asset investments

The company owns 1 £1 share (acquired at nil cost) in Anglia Farmers, which is not an associated company.

#### 11. Current asset investments

The company is a partner in the Cantley Beet Group. The directors do not believe that there are any profits or liabilities that need to be included in the accounts for the year to 31 March 2025 and the investment itself is held at nil cost