Registration number: 02173152

Kirmington Potato Services Limited

Contents

Company Information	1
Directors' Report	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 9

Kirmington Potato Services Limited

Company Information

Directors

R D Arundel B R Mordue B W Kerr E S Arundel N D Elwell R Dobson

Registered office

Pegasus House Pegasus Road Elsham Wold Ind. Estate Elsham North Lincolnshire DN20 0SQ

Kirmington Potato Services Limited

Directors' Report for the Year Ended 30 June 2025

The Directors present their report and the financial statements for the year ended 30 June 2025.

Directors of the Company

The Directors who held office during the year were as follows:

R D Arundel

B R Mordue

B W Kerr

E S Arundel

N D Elwell

R Dobson

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 8 December 2025 and signed on its behalf by:
 

......................................... R D Arundel Director

Kirmington Potato Services Limited

(Registration number: 02173152)
Balance Sheet as at 30 June 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	5,856,924	5,330,303
Current assets
Stocks	5	38,767	36,731
Debtors	6	805,674	983,442
Cash at bank and in hand		1,087	1,366
		845,528	1,021,539
Creditors: Amounts falling due within one year	7	(1,936,054)	(1,846,653)
Net current liabilities		(1,090,526)	(825,114)
Total assets less current liabilities		4,766,398	4,505,189
Creditors: Amounts falling due after more than one year	7	(954,469)	(1,192,698)
Provisions for liabilities		(326,177)	(376,209)
Net assets		3,485,752	2,936,282
Capital and reserves
Called up share capital	9	332,218	332,218
Revaluation reserve		2,471,803	1,881,343
Retained earnings		681,731	722,721
Shareholders' funds		3,485,752	2,936,282

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and
•	The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account and Directors' Report.

Approved and authorised by the Board on 8 December 2025 and signed on its behalf by:
 

......................................... R D Arundel Director

Kirmington Potato Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

1	General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 02173152.

The address of its registered office is:
Pegasus House
Pegasus Road
Elsham Wold Ind. Estate
Elsham
North Lincolnshire
DN20 0SQ

These financial statements cover the individual entity, Kirmington Potato Services Limited.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 including Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are release to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Kirmington Potato Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Freehold land and buildings are measured at fair value at each reporting date with changes in fair value recognised in the revaluation reserve.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold land	No depreciation is charged
Freehold buildings	25% reducing balance, 2-10% straight line and 0%
Plant and machinery	2%, 10% and 25% reducing balance and 4-20% straight line
Fixtures and fittings	10%, 15% and 25% reducing balance and 25% straight line
Motor vehicles	15% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Kirmington Potato Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholder is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the Company during the year, was 14 (2024 - 11).

Kirmington Potato Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 July 2024	3,961,401	4,126,157	429,217	8,516,775
Revaluation	390,020	-	-	390,020
Additions	13,580	306,343	-	319,923
Disposals	-	(55,850)	(32,172)	(88,022)
At 30 June 2025	4,365,001	4,376,650	397,045	9,138,696
Depreciation
At 1 July 2024	155,131	2,885,793	144,591	3,185,515
Charge for the year	80,840	264,629	59,821	405,290
Eliminated on disposal	-	(49,543)	(23,519)	(73,062)
Revaluation	(235,971)	-	-	(235,971)
At 30 June 2025	-	3,100,879	180,893	3,281,772
Carrying amount
At 30 June 2025	4,365,001	1,275,771	216,152	5,856,924
At 30 June 2024	3,806,270	1,239,407	284,626	5,330,303

Revaluation

The freehold land and buildings class of fixed assets have been revalued in the year to 30 June 2025. The revaluation took place on 23 May 2025 and was completed by Savills (RICS). The basis of this valuation was open market value. The class of assets has a current value of £4,365,001 (2024 - £3,806,270) and a carrying amount at historical cost of £1,886,265 (2024 - £1,924,932). The depreciation on this historical cost is £1,064,829 (2024 - £1,012,582). The historical cost as at 30 June, 2025 was £2,951,094 (2024 - £2,937,514).

5

Stocks

	2025 £	2024 £
Other inventories	38,767	36,731

6

Debtors

Current	Note	2025 £	2024 £
Trade debtors		590,442	624,023
Amounts owed by related parties		-	185,997
Prepayments and accrued income		181,992	143,999
Other debtors		33,240	29,423
		805,674	983,442

Kirmington Potato Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Bank loans and overdrafts		591,313	715,575
Trade creditors		740,964	373,815
Amounts owed to Company undertakings and undertakings in which the Company has a participating interest		29,654	29,654
Taxation and social security		37,854	55,460
Accruals and deferred income		45,118	32,527
Other creditors		491,151	639,622
		1,936,054	1,846,653

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Due after one year
Bank loans	645,174	862,378
Deferred income	220,128	209,309
Other financial liabilities	89,167	121,011
	954,469	1,192,698

	2025 £	2024 £
Due after more than five years
After more than five years by instalments	303,431	429,828

	-	-