Company registration number 04115751 (England and Wales)
MELDON VILLAGE STORAGE AND DRYING LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
MELDON VILLAGE STORAGE AND DRYING LIMITED
COMPANY INFORMATION
Directors
P.A. Jackson
G.J. Bright
R.J. Davison
C.J.Stephenson
G.O. Alderslade
A.R. Graham
D.W. Hall
M.W. Hutchinson
Secretary
Mrs T. Virgo
Company number
04115751
Registered office
Tyne Dock
South Shields
Tyne & Wear
NE34 9PL
Auditor
Greaves West & Ayre
17 Walkergate
Berwick-upon-Tweed
Northumberland
TD15 1DJ
MELDON VILLAGE STORAGE AND DRYING LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 7
Profit and loss account
8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Statement of cash flows
12
Notes to the financial statements
13 - 25
MELDON VILLAGE STORAGE AND DRYING LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2025
- 1 -
Review of the business

The company continues to provide drying and storage services to the local farming community. The result reflects the challenging year due to the low harvest yield

Further investment was made to the store so it can continue to offer speed of turnaround required by its clients.

Further capital expenditure will be made to maintain and improve its facilities.

Principal Risks and Uncertainties

The company is able to benefit from reduced prices for supplies due to the buying power of the group and associated companies, thus mitigating its exposure to price risk.

The unlimited cross guarantee between the company and Tynegrain Limited allows some mitigation of exposure to cashflow and liquidity risk.

By order of the board

Mrs T. Virgo
Secretary
2 October 2025
MELDON VILLAGE STORAGE AND DRYING LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2025
- 2 -

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

Principal activities

The principal activity of the company continued to be that of the drying, dressing, grading and storing of grain.

Results and dividends

The results for the year are set out on page 8.

The loss for the year, after taxation, amounted to £207,160, (2024: Profit £42,408). No dividends were paid or proposed during the year.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

P.A. Jackson
G.J. Bright
R.J. Davison
C.J.Stephenson
G.O. Alderslade
A.R. Graham
D.W. Hall
M.W. Hutchinson
Auditor

The auditors, Greaves West & Ayre, will be proposed for reappointment in accordance with Section 485 of the Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable UK standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

MELDON VILLAGE STORAGE AND DRYING LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Strategic Report

Please refer to the Strategic Report for details of a review of the business for the year and a description of principal risks and uncertainties.

By order of the board
Mrs T. Virgo
Secretary
2 October 2025
MELDON VILLAGE STORAGE AND DRYING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MELDON VILLAGE STORAGE AND DRYING LIMITED
- 4 -
Opinion

We have audited the financial statements of Meldon Village Storage and Drying Limited (the 'company') for the year ended 30 June 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 June 2025 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

MELDON VILLAGE STORAGE AND DRYING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MELDON VILLAGE STORAGE AND DRYING LIMITED (CONTINUED)
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

MELDON VILLAGE STORAGE AND DRYING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MELDON VILLAGE STORAGE AND DRYING LIMITED (CONTINUED)
- 6 -
The extent to which the audit was considered capable of detecting irregularities, including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including legislation such as the Companies Act 2006, taxation legislation, employment legislation and data protection;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, contacting the entity’s solicitor for any details of non-compliance and inspecting current year legal expenditure; and

- identified laws and regulations of particular relevance were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, including any fraud associated with revenue recognition, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;

- traced a sample of sales transactions from source documentation to nominal ledgers;

- traced a sample of sales credit notes throughout the year and around the year-end in order to confirm their commercial justification; and

- evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims against the company; and

- reviewing correspondence with HMRC and the company’s legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

MELDON VILLAGE STORAGE AND DRYING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MELDON VILLAGE STORAGE AND DRYING LIMITED (CONTINUED)
- 7 -

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Craig Little CA (Senior Statutory Auditor)
For and on behalf of Greaves West & Ayre, Statutory Auditor
Chartered Accountants
17 Walkergate
Berwick-upon-Tweed
Northumberland
TD15 1DJ
10 October 2025
MELDON VILLAGE STORAGE AND DRYING LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
406,520
622,216
Cost of sales
(103,006)
(155,236)
Gross profit
303,514
466,980
Administrative expenses
(543,658)
(428,241)
Other operating income
1,768
21,080
Operating (loss)/profit
4
(238,376)
59,819
Interest receivable and similar income
7
2,393
1
Interest payable and similar expenses
8
-
0
(1,825)
(Loss)/profit before taxation
(235,983)
57,995
Tax on (loss)/profit
9
28,823
(15,587)
(Loss)/profit for the financial year
(207,160)
42,408

The profit and loss account has been prepared on the basis that all operations are continuing operations.

MELDON VILLAGE STORAGE AND DRYING LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2025
- 9 -
2025
2024
£
£
(Loss)/profit for the year
(207,160)
42,408
Other comprehensive income
-
-
Total comprehensive income for the year
(207,160)
42,408
MELDON VILLAGE STORAGE AND DRYING LIMITED
BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
677,484
769,415
Current assets
Stocks
11
12,502
14,333
Debtors
12
110,247
65,443
Cash at bank and in hand
258,596
110,883
381,345
190,659
Creditors: amounts falling due within one year
13
(1,108,869)
(782,328)
Net current liabilities
(727,524)
(591,669)
Total assets less current liabilities
(50,040)
177,746
Creditors: amounts falling due after more than one year
14
-
0
(10,270)
Provisions for liabilities
Deferred tax liability
16
111,110
121,466
(111,110)
(121,466)
Net (liabilities)/assets
(161,150)
46,010
Capital and reserves
Called up share capital
18
1
1
Profit and loss reserves
19
(161,151)
46,009
Total equity
(161,150)
46,010
The financial statements were approved by the board of directors and authorised for issue on 2 October 2025 and are signed on its behalf by:
P.A. Jackson
G.J. Bright
Director
Director
Company registration number 04115751 (England and Wales)
MELDON VILLAGE STORAGE AND DRYING LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
- 11 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 July 2023
1
3,601
3,602
Year ended 30 June 2024:
Profit and total comprehensive income
-
42,408
42,408
Balance at 30 June 2024
1
46,009
46,010
Year ended 30 June 2025:
Loss and total comprehensive income
-
(207,160)
(207,160)
Balance at 30 June 2025
1
(161,151)
(161,150)
MELDON VILLAGE STORAGE AND DRYING LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2025
- 12 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
25
174,783
89,350
Interest paid
-
0
(1,825)
Income taxes paid
(18,473)
-
0
Net cash inflow from operating activities
156,310
87,525
Investing activities
Purchase of tangible fixed assets
-
0
(25,702)
Proceeds from disposal of tangible fixed assets
-
0
2,500
Interest received
2,393
1
Net cash generated from/(used in) investing activities
2,393
(23,201)
Financing activities
Repayment of bank loans
(10,990)
(10,013)
Net cash used in financing activities
(10,990)
(10,013)
Net increase in cash and cash equivalents
147,713
54,311
Cash and cash equivalents at beginning of year
110,883
56,572
Cash and cash equivalents at end of year
258,596
110,883
MELDON VILLAGE STORAGE AND DRYING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 13 -
1
Accounting policies
Company information

Meldon Village Storage and Drying Limited is a private company limited by shares incorporated in England and Wales. The registered office is Tyne Dock, South Shields, Tyne & Wear, NE34 9PL.

1.1
Accounting convention

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest pound sterling.

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

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The company has generated a loss this year but a profit in the prior year. Over the longer term, such losses are not sustainable. The directors are currently considering the actions that they could take to improve the company's prospects.

The company continues to have the support of its parent company, Tynegrain Limited and wider group companies.

While this support remains, there is no material uncertainty, about the company's ability to continue as a going concern.

1.3
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Tangible fixed assets

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

MELDON VILLAGE STORAGE AND DRYING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 14 -

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:

Silos and buildings
6.25-10% Straight Line
Plant and machinery
5-50% Straight Line
Office and laboratory equipment
10-33% Straight Line

No depreciation is applied to assets under construction.

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 profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

MELDON VILLAGE STORAGE AND DRYING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 15 -
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

MELDON VILLAGE STORAGE AND DRYING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 16 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

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

Current 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.

MELDON VILLAGE STORAGE AND DRYING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 17 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

The pension costs charged in the financial statements represent the contribution payable by the company during the year in respect of the company's defined contribution scheme.

1.13
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Turnover and other revenue

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
Drying, Storage and related activities
406,520
622,216
MELDON VILLAGE STORAGE AND DRYING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
3
Turnover and other revenue
(Continued)
- 18 -
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
406,520
622,216
2025
2024
£
£
Other revenue
Interest income
2,393
1
4
Operating (loss)/profit
2025
2024
Operating (loss)/profit for the year is stated after charging/(crediting):
£
£
Depreciation of owned tangible fixed assets
91,931
97,323
Profit on disposal of tangible fixed assets
-
(2,500)
Operating lease charges
32,820
29,380
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
10,667
12,260
6
Employees

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

2025
2024
Number
Number
Average number of employees
2
2

Their aggregate remuneration, plus rehired labour from other companies, totalled:

2025
2024
£
£
Wages and salaries
79,792
80,254
Social security costs
6,185
5,884
Pension costs
3,218
2,688
89,195
88,826
MELDON VILLAGE STORAGE AND DRYING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 19 -
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
-
0
1
Other interest income
2,393
-
0
Total income
2,393
1
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
-
0
1
8
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
-
1,825
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
-
0
18,470
Adjustments in respect of prior periods
(18,470)
-
0
Total current tax
(18,470)
18,470
Deferred tax
Origination and reversal of timing differences
(10,353)
(2,883)
Total tax (credit)/charge
(28,823)
15,587
MELDON VILLAGE STORAGE AND DRYING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
9
Taxation
(Continued)
- 20 -

The actual (credit)/charge for the year can be reconciled to the expected (credit)/charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
(Loss)/profit before taxation
(235,983)
57,995
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
(58,996)
14,499
Tax effect of expenses that are not deductible in determining taxable profit
12,069
3,971
Tax effect of utilisation of tax losses not previously recognised
(598)
-
0
Deferred tax movement relating to the origination and reversal of timing differences
(10,353)
(2,883)
Utilisation of tax losses carried back
(18,470)
-
0
Losses arising in the tax year
47,525
-
0
Taxation (credit)/charge for the year
(28,823)
15,587
10
Tangible fixed assets
Silos and buildings
Plant and machinery
Office and laboratory equipment
Total
£
£
£
£
Cost
At 1 July 2024 and 30 June 2025
454,351
1,208,576
38,333
1,701,260
Depreciation and impairment
At 1 July 2024
352,816
543,069
35,960
931,845
Depreciation charged in the year
12,336
78,935
660
91,931
At 30 June 2025
365,152
622,004
36,620
1,023,776
Carrying amount
At 30 June 2025
89,199
586,572
1,713
677,484
At 30 June 2024
101,535
665,507
2,373
769,415
11
Stocks
2025
2024
£
£
Raw materials and consumables
12,502
14,333
MELDON VILLAGE STORAGE AND DRYING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 21 -
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
28,469
166
Corporation tax recoverable
18,470
-
0
Amounts owed by group undertakings
96
-
0
Amounts owed by undertakings in which the company has a participating interest
-
0
11,483
Other debtors
32,320
25,947
Prepayments and accrued income
30,892
27,847
110,247
65,443
13
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Other borrowings
15
8,923
9,643
Trade creditors
34,958
29,539
Amounts owed to group undertakings
924,661
703,488
Corporation tax
-
0
18,470
Accruals and deferred income
140,327
21,188
1,108,869
782,328
14
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Other borrowings
15
-
0
10,270
15
Loans and overdrafts
2025
2024
£
£
Other borrowings
8,923
19,913
Payable within one year
8,923
9,643
Payable after one year
-
0
10,270
MELDON VILLAGE STORAGE AND DRYING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
15
Loans and overdrafts
(Continued)
- 22 -

The bank loan is secured as follows:-

Fixed charge over book debts and other debts, goodwill, uncalled capital and intellectual property and a floating charge over all other assets dated 12 June 2001.

Company unlimited multilateral guarantee dated 13 March 2023 given by Tynegrain Limited and Grainco Limited.

Other borrowings are unsecured.

16
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2025
2024
Balances:
£
£
ACAs
111,110
121,466
2025
Movements in the year:
£
Liability at 1 July 2024
121,466
Credit to profit or loss
(10,356)
Liability at 30 June 2025
111,110

The deferred tax liability set out above is expected to reverse and relates to accelerated capital allowances that are expected to mature.

Following the enactment of the Finance Act 2021 the deferred tax provision at the year end has been calculated using a rate of 25% (2024: 25%).

17
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
3,218
2,688

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

18
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
MELDON VILLAGE STORAGE AND DRYING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
18
Share capital
(Continued)
- 23 -

The company has one class of ordinary shares which carry no right to fixed income. The share does carry voting rights.

19
Profit and loss reserves
2025
2024
£
£
At the beginning of the year
46,009
3,601
Adjusted balance
46,009
3,601
(Loss)/profit for the year
(207,160)
42,408
At the end of the year
(161,151)
46,009
20
Financial commitments, guarantees and contingent liabilities

An unlimited cross guarantee exists between the company and Tynegrain Limited.

21
Operating lease commitments
As lessee

The company has one lease agreement for the site at Meldon. The lease agreement ends in 2036. But has reviews at the following dates: 31 December 2025, 2027, 2030, 2033.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
18,130
14,690
22
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Name of related party
Nature of relationship
Grainco Limited
Member of Tynegrain group
Tynegrain Agriculture Limited
Under common management with Tynegrain group
Tynegrain Limited
Parent of Meldon Village Storage and Drying Limited
MELDON VILLAGE STORAGE AND DRYING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
22
Related party transactions
(Continued)
- 24 -
Income
Payments
transaction
2025
2024
2025
2024
£
£
£
£
Grainco Limited
165,744
109,597
143,483
82,388
Tynegrain Agriculture Limited
-
-
44,688
83,810
Tynegrain Limited
65,090
20,234
30,355
7,270

Balances with related parties

The following amounts were outstanding at the reporting end date:

Amounts owed by
Amounts owed to
related parties
related parties
2025
2024
2025
2024
£
£
£
£
Grainco Limited
-
11,483
74,661
3,488
Tynegrain Limited
96
-
850,000
700,000

All of the above amounts are unsecured and interest free.

23
Directors' transactions

All transactions with the directors were in the normal course of business and were conducted on an "arms length" basis.

During the year, sales of £12,352 were made to directors (2024: £55,572). £Nil was owed by the directors at 30 June 2025 (2024: £Nil). Purchases of £2,060 were made from directors (2024: £1,824). No amounts were outstanding at the year end (2024: £Nil).

24
Ultimate controlling party

The company's ultimate holding company is Tynegrain Limited, Tynegrain Limited provide key management services to the entity. Tynegrain Limited's registered office is Tynedock, South Sheilds, Tyne & Weir, NE34 9PL. The company registered in England under the Co-operative and Community Benefit Societies Act 2014 under number 23873R. Accounts for this company can be obtained from The Financial Conduct Authority.

MELDON VILLAGE STORAGE AND DRYING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 25 -
25
Cash generated from operations
2025
2024
£
£
(Loss)/profit after taxation
(207,160)
42,408
Adjustments for:
Taxation (credited)/charged
(28,823)
15,587
Finance costs
-
0
1,825
Investment income
(2,393)
(1)
Gain on disposal of tangible fixed assets
-
(2,500)
Depreciation and impairment of tangible fixed assets
91,931
97,323
Movements in working capital:
Decrease/(increase) in stocks
1,831
(13,157)
Increase in debtors
(26,334)
(10,983)
Increase/(decrease) in creditors
345,731
(41,152)
Cash generated from operations
174,783
89,350
26
Analysis of changes in net funds
1 July 2024
Cash flows
30 June 2025
£
£
£
Cash at bank and in hand
110,883
147,713
258,596
Borrowings excluding overdrafts
(19,913)
10,990
(8,923)
90,970
158,703
249,673
2025-06-30 2024-07-01 false false false CCH Software CCH Accounts Production 2025.300 P.A. Jackson G.J. Bright R.J. Davison C.J.Stephenson G.O. Alderslade A.R. Graham D.W. Hall M.W. Hutchinson Mrs T. Virgo 04115751 2024-07-01 2025-06-30 04115751 bus:Director1 2024-07-01 2025-06-30 04115751 bus:Director2 2024-07-01 2025-06-30 04115751 bus:Director3 2024-07-01 2025-06-30 04115751 bus:Director4 2024-07-01 2025-06-30 04115751 bus:Director5 2024-07-01 2025-06-30 04115751 bus:Director6 2024-07-01 2025-06-30 04115751 bus:Director7 2024-07-01 2025-06-30 04115751 bus:Director8 2024-07-01 2025-06-30 04115751 bus:CompanySecretaryDirector1 2024-07-01 2025-06-30 04115751 bus:CompanySecretary1 2024-07-01 2025-06-30 04115751 bus:RegisteredOffice 2024-07-01 2025-06-30 04115751 2025-06-30 04115751 2023-07-01 2024-06-30 04115751 core:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 04115751 core:RetainedEarningsAccumulatedLosses 2024-07-01 2025-06-30 04115751 2024-06-30 04115751 core:LandBuildings core:OwnedOrFreeholdAssets 2025-06-30 04115751 core:PlantMachinery 2025-06-30 04115751 core:ComputerEquipment 2025-06-30 04115751 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 04115751 core:PlantMachinery 2024-06-30 04115751 core:ComputerEquipment 2024-06-30 04115751 core:WithinOneYear 2025-06-30 04115751 core:WithinOneYear 2024-06-30 04115751 core:AfterOneYear 2025-06-30 04115751 core:AfterOneYear 2024-06-30 04115751 core:CurrentFinancialInstruments 2025-06-30 04115751 core:CurrentFinancialInstruments 2024-06-30 04115751 core:ShareCapital 2025-06-30 04115751 core:ShareCapital 2024-06-30 04115751 core:RetainedEarningsAccumulatedLosses 2025-06-30 04115751 core:RetainedEarningsAccumulatedLosses 2024-06-30 04115751 core:ShareCapital 2023-06-30 04115751 core:RetainedEarningsAccumulatedLosses 2023-06-30 04115751 core:ShareCapitalOrdinaryShareClass1 2025-06-30 04115751 core:ShareCapitalOrdinaryShareClass1 2024-06-30 04115751 core:RetainedEarningsAccumulatedLosses 2024-06-30 04115751 2024-06-30 04115751 2023-06-30 04115751 core:LandBuildings core:OwnedOrFreeholdAssets 2024-07-01 2025-06-30 04115751 core:PlantMachinery 2024-07-01 2025-06-30 04115751 core:ComputerEquipment 2024-07-01 2025-06-30 04115751 core:UKTax 2024-07-01 2025-06-30 04115751 core:UKTax 2023-07-01 2024-06-30 04115751 1 2024-07-01 2025-06-30 04115751 1 2023-07-01 2024-06-30 04115751 2 2024-07-01 2025-06-30 04115751 2 2023-07-01 2024-06-30 04115751 3 2024-07-01 2025-06-30 04115751 3 2023-07-01 2024-06-30 04115751 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 04115751 core:PlantMachinery 2024-06-30 04115751 core:ComputerEquipment 2024-06-30 04115751 core:Non-currentFinancialInstruments 2025-06-30 04115751 core:Non-currentFinancialInstruments 2024-06-30 04115751 bus:OrdinaryShareClass1 2024-07-01 2025-06-30 04115751 bus:OrdinaryShareClass1 2025-06-30 04115751 bus:OrdinaryShareClass1 2024-06-30 04115751 bus:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 04115751 bus:FRS102 2024-07-01 2025-06-30 04115751 bus:Audited 2024-07-01 2025-06-30 04115751 bus:FullAccounts 2024-07-01 2025-06-30 xbrli:pure xbrli:shares iso4217:GBP