Raynham Farm Company Livestock Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03363834 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Raynham Farm Company Livestock Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

Fixed assets

Tangible assets

5

3,564,947

3,689,250

Investments

6

801,101

4,366,048

4,490,351

Current assets

Debtors

7

6,332,019

4,728,074

Cash at bank

265,964

247,071

6,597,983

4,975,145

Creditors

Amounts falling due within one year

8

(240,747

)

(260,148

)

Net current assets

6,357,236

4,714,997

Total assets less current liabilities

10,723,284

9,205,348

Creditors

Amounts falling due after more than one
year

9

(3,375,000

)

(3,375,000

)

Provisions for liabilities

(71,461

)

(74,629

)

Net assets

7,276,823

5,755,719

Capital and reserves

Called up share capital

2,667

Share premium

263,666

Revaluation reserve

11

1,716,541

1,735,640

Retained earnings

5,293,949

3,753,746

7,276,823

5,755,719

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 December 2025 and were signed on its behalf by:

Lord T C Raynham - Director

1.	Statutory information

Raynham Farm Company Livestock Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

03363834

Registered office:

Estate Office

Hall Farm House

East Raynham

Fakenham

Norfolk

NR21 7EE

2.	Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3.	Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention or historic cost modified by revaluation of financial assets and financial liabilities held at fair value through profit and loss, except for the financial instruments that are measured at their fair values at the end of each reporting period, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for goods and services.

The presentation currency of the financial statements is the Pound Sterling (£).

The principal accounting policies adopted are set out below. All accounting policies have been applied consistently, other than where new policies have been adopted.

Going Concern

The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future and have therefore accordingly prepared these financial statements on a going concern basis.

Preparation of consolidated financial statements

The financial statements contain information about Raynham Farm Company Livestock Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements in conformity with FRS 102 requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancements, future investments, economic utilisation and the physical condition of the assets. See notes to the accounts for the carrying amount of tangible assets and the useful economic lives for each class of assets.

(ii) Taxation

The company establishes provisions based on reasonable estimates, for possible consequences of audits by the tax authorities. The amount of such provisions is based on various factors, such as experience with the previous tax audits and differing interpretations of tax regulations by the taxable entity and the responsible tax authority.

Revenue recognition

Turnover is measured at 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 stated net of discounts, rebates, Value Added Tax and other sales taxes. The following criteria must also be met before turnover from a sale can be recognised:

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer (usually on despatch of the goods), the amount of turnover can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Turnover from the provision of services is recognised when the service has been completed according to the job requirement, whereby at this point, the turnover can be measured reliably, it is probable that economic benefits will flow to the entity and the costs in respect of the transaction can be measured reliably.

Turnover is generated through rental income received on land and property held by the company. It is measured by pre-agreed rental amounts stipulated in tenancy agreements and is recognised on a monthly or annual basis.

Tangible assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold property

-

10% on cost, 5% on cost and 1% on cost

Plant and machinery

-

15% p.a. reducing balance and 10% p.a. reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or group of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4.	Employees and directors

The average number of employees during the year was 4 (2024 - 4 ) .

5.	Tangible fixed assets

Freehold

Plant and

property

machinery

Totals

£

Cost

At 1 April 2024

and 31 March 2025

4,459,510

1,126,060

5,585,570

Depreciation

At 1 April 2024

891,095

1,005,225

1,896,320

Charge for year

111,966

12,337

124,303

At 31 March 2025

1,003,061

1,017,562

2,020,623

Net book value

At 31 March 2025

3,456,449

108,498

3,564,947

At 31 March 2024

3,568,415

120,835

3,689,250

The freehold property included in tangible fixed assets was valued in March 2015 by Savills (UK) Limited.

A deferred tax provision has been included on the revaluation of the land and buildings. As at 31 March 2025 a provision of £4,978 (2024: £5,962) was included within the total deferred tax provision.

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

Freehold
property

£

At 31st March 2025

Aggregate cost

3,642,302

Aggregate depreciation

(1,907,375

)

Carrying value

1,734,927

At 31st March 2024

Aggregate cost

3,642,302

Aggregate depreciation

(1,815,489

)

Carrying value

1,826,813

6.	Investments

Shares in

group

undertakings

£

Cost

At 1 April 2024

and 31 March 2025

801,101

Net book value

At 31 March 2025

801,101

At 31 March 2024

801,101

The company owns 100% of the issued share capital of Raynham Farm Company Limited, Raynham Farm Company (AD) Limited and Raynham Events Limited all registered in England and Wales.

Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has therefore not done so, the accounts therefore show information about the company as an individual entity.

7.

Debtors: amounts falling due within one year

31.3.25

31.3.24

£

Trade debtors

56,452

62,939

Amounts owed by group undertakings

6,273,242

4,665,135

VAT

2,325

-

6,332,019

4,728,074

8.

Creditors: amounts falling due within one year

31.3.25

31.3.24

£

Trade creditors

8,295

20,771

VAT

-

3,158

Amounts owed to group undertakings

100

Accrued expenses

232,352

236,119

240,747

260,148

9.

Creditors: amounts falling due after more than one year

31.3.25

31.3.24

£

Other creditors

3,375,000

10.	Financial instruments

The carrying amount for each category of financial instrument is as follows:

31.3.25

31.3.24

£

Financial assets measured at fair value through profit or loss

801,101

Financial liabilities measured at fair value through profit or loss

3,375,000

11.

Reserves

Revaluation

reserve

£

At 1 April 2024

1,735,640

Reclassification from revaluation reserve to
profit and loss account

(20,082

)

Revaluation of tangible assets

983

At 31 March 2025

1,716,541

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.

12.	Contingencies

A corporate cross guarantee has been given to the company's bankers to cover all monies owed by Raynham Farm Company Limited and Raynham Farm Company (AD) Limited.

The company is a member of the Raynham Farm Company Limited Pension Scheme which is a defined benefit pension scheme. The scheme and its assets are held by independent managers. The scheme is currently in a deficit but it is not possible to quantify the deficit which relates to this company.

13.	Related party transactions

The company is under the joint control of Raynham Trust Company Number One Limited and Raynham Trust Company Number Two Limited due to their ownership of the entire share capital of the company.

During the year, a dividend was paid on the preference share capital amounting to £135,000 (2024: £135,000).

An interim dividend was paid in the year to equity shareholders amounting to £157,864 (2024: £39,687).