Company registration number 12454792 (England and Wales)
LOTTISHAM CHURCH FARM LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
LOTTISHAM CHURCH FARM LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 10
LOTTISHAM CHURCH FARM LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
2
2
Tangible assets
4
2,251,375
2,188,316
Biological assets
5
154,712
149,698
2,406,089
2,338,016
Current assets
Stocks
242,066
266,322
Debtors
6
110,030
109,247
Cash at bank and in hand
82,784
84,981
434,880
460,550
Creditors: amounts falling due within one year
7
(484,508)
(452,506)
Net current (liabilities)/assets
(49,628)
8,044
Total assets less current liabilities
2,356,461
2,346,060
Creditors: amounts falling due after more than one year
8
(1,104,661)
(1,100,565)
Provisions for liabilities
(60,807)
(47,719)
Net assets
1,190,993
1,197,776
Capital and reserves
Called up share capital
9,000
9,000
Profit and loss reserves
1,181,993
1,188,776
Total equity
1,190,993
1,197,776
LOTTISHAM CHURCH FARM LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -

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.

T he 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.

The financial statements were approved by the board of directors and authorised for issue on 20 November 2025 and are signed on its behalf by:
Mr D J Dibble
Mrs C A Dibble
Director
Director
Company Registration No. 12454792
LOTTISHAM CHURCH FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Lottisham Church Farm Limited is a private company limited by shares incorporated in England and Wales. The registered office is Maltravers House, Petters Way, YEOVIL, BA20 1SH. The business address is Church Farm, Lottisham, Glastonbury, Somerset, BA6 8PF.

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 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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
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.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

LOTTISHAM CHURCH FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Benefit of contracts
Over 5 years
1.5
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.

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:

Freehold land and buildings
Nil
Leasehold land and buildings
Nil
Plant and equipment
10% reducing balance
Fixtures and fittings
5% reducing balance
Motor vehicles
15% reducing balance

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.

1.6
Biological assets

Biological assets are recognised only when three recognition criteria have been fulfilled:

- the entity has control over the asset as a result of past events;

- it is probable that future economic benefits associated with the asset will flow to the entity; and

- the fair value or cost of the asset can be measured reliably.

The company measures biological assets at cost less accumulated depreciation and accumulated impairment losses.

In respect of agricultural produce harvested from a biological asset, this is measured at the point of harvest at lower of cost and estimated selling price less costs to complete and sell.

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:

Dairy
Over 5 years
LOTTISHAM CHURCH FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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.

1.8
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.

1.9
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.

1.10
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.

LOTTISHAM CHURCH FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 6 -
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.

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.

1.11
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.

1.12
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.

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.

LOTTISHAM CHURCH FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 7 -
1.13
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.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

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.

1.14
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.15
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

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

2025
2024
Number
Number
Total
7
6
LOTTISHAM CHURCH FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
3
Intangible fixed assets
Goodwill
Benefit of contracts
Total
£
£
£
Cost
At 1 April 2024 and 31 March 2025
1
1
2
Amortisation and impairment
At 1 April 2024 and 31 March 2025
-
0
-
-
0
Carrying amount
At 31 March 2025
1
1
2
At 31 March 2024
1
1
2
4
Tangible fixed assets
Freehold land and buildings
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 April 2024
266,000
902,500
753,602
475,033
6,803
2,403,938
Additions
-
0
-
0
162,180
-
0
-
0
162,180
Disposals
-
0
-
0
(11,974)
-
0
-
0
(11,974)
At 31 March 2025
266,000
902,500
903,808
475,033
6,803
2,554,144
Depreciation and impairment
At 1 April 2024
-
0
-
0
171,694
41,301
2,627
215,622
Depreciation charged in the year
-
0
-
0
68,953
21,687
627
91,267
Eliminated in respect of disposals
-
0
-
0
(4,120)
-
0
-
0
(4,120)
At 31 March 2025
-
0
-
0
236,527
62,988
3,254
302,769
Carrying amount
At 31 March 2025
266,000
902,500
667,281
412,045
3,549
2,251,375
At 31 March 2024
266,000
902,500
581,908
433,732
4,176
2,188,316
LOTTISHAM CHURCH FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 9 -
5
Biological assets
Dairy
£
Cost
At 1 April 2024
154,580
Additions - procreation or planting
42,080
Disposals
(37,820)
At 31 March 2025
158,840
Depreciation and impairment
At 1 April 2024
4,882
Depreciation charged for the year
2,008
Disposals
(2,762)
At 31 March 2025
4,128
Carrying amount
At 31 March 2025
154,712
At 31 March 2024
149,698
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
89,908
80,051
Other debtors
20,122
29,196
110,030
109,247
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
46,687
42,140
Trade creditors
76,211
90,871
Taxation and social security
2,233
1,944
Other creditors
359,377
317,551
484,508
452,506

The hire purchase liabilities of £21,451 (2024- £8,034) are secured on the assets to which they relate. The short term loans of £4 6,687 (2024- £42,140) are secured on the farm land and buildings.

LOTTISHAM CHURCH FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 10 -
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
954,647
1,005,600
Other creditors
150,014
94,965
1,104,661
1,100,565
Creditors which fall due after five years are payable as follows:
Payable by instalments
767,899
837,040

The hire purchase liabilities of £59,764 (2024- £4,715) are secured on the assets to which they relate. The long term loans of £954,647 (2024- £1,00 5,600) are secured on the farm land and buildings.

2025-03-31 2024-04-01 false false false 10 December 2025 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr D J Dibble Mr R C Dibble Mrs J Dibble Mrs C A Dibble 12454792 2024-04-01 2025-03-31 12454792 2025-03-31 12454792 2024-03-31 12454792 core:NetGoodwill 2025-03-31 12454792 core:NetGoodwill 2024-03-31 12454792 core:LandBuildings core:OwnedOrFreeholdAssets 2025-03-31 12454792 core:LandBuildings 2025-03-31 12454792 core:PlantMachinery 2025-03-31 12454792 core:FurnitureFittings 2025-03-31 12454792 core:MotorVehicles 2025-03-31 12454792 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 12454792 core:LandBuildings 2024-03-31 12454792 core:PlantMachinery 2024-03-31 12454792 core:FurnitureFittings 2024-03-31 12454792 core:MotorVehicles 2024-03-31 12454792 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 12454792 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 12454792 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 12454792 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 12454792 core:CurrentFinancialInstruments 2025-03-31 12454792 core:CurrentFinancialInstruments 2024-03-31 12454792 core:Non-currentFinancialInstruments 2025-03-31 12454792 core:Non-currentFinancialInstruments 2024-03-31 12454792 core:ShareCapital 2025-03-31 12454792 core:ShareCapital 2024-03-31 12454792 core:RetainedEarningsAccumulatedLosses 2025-03-31 12454792 core:RetainedEarningsAccumulatedLosses 2024-03-31 12454792 bus:Director1 2024-04-01 2025-03-31 12454792 bus:Director4 2024-04-01 2025-03-31 12454792 core:Goodwill 2024-04-01 2025-03-31 12454792 core:IntangibleAssetsOtherThanGoodwill 2024-04-01 2025-03-31 12454792 core:Non-standardIntangibleAssetClass3ComponentIntangibleAssetsOtherThanGoodwill 2024-04-01 2025-03-31 12454792 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 12454792 core:LandBuildings core:LongLeaseholdAssets 2024-04-01 2025-03-31 12454792 core:PlantMachinery 2024-04-01 2025-03-31 12454792 core:FurnitureFittings 2024-04-01 2025-03-31 12454792 core:MotorVehicles 2024-04-01 2025-03-31 12454792 core:BearerBiologicalAssetClass1 2024-04-01 2025-03-31 12454792 2023-04-01 2024-03-31 12454792 core:NetGoodwill 2024-03-31 12454792 2024-03-31 12454792 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 12454792 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-03-31 12454792 core:PlantMachinery 2024-03-31 12454792 core:FurnitureFittings 2024-03-31 12454792 core:MotorVehicles 2024-03-31 12454792 core:LandBuildings core:LeasedAssetsHeldAsLessee 2025-03-31 12454792 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-04-01 2025-03-31 12454792 core:BearerBiologicalAssetClass1 2024-03-31 12454792 core:BearerBiologicalAssetClass1 2025-03-31 12454792 core:BearerBiologicalAssetClass1 core:ImmatureBiologicalAssets 2024-04-01 2025-03-31 12454792 core:BearerBiologicalAssetClass1 2024-03-31 12454792 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 12454792 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 12454792 bus:FRS102 2024-04-01 2025-03-31 12454792 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 12454792 bus:Director2 2024-04-01 2025-03-31 12454792 bus:Director3 2024-04-01 2025-03-31 12454792 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP