REGISTERED NUMBER: 06859306 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2025

FOR

METCALFE FARMING LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

DIRECTORS:

R D Metcalfe

F D Metcalfe

REGISTERED OFFICE:

Horncastle Farm

Nostell

Wakefield

West Yorkshire

WF4 1QR

REGISTERED NUMBER:

06859306 (England and Wales)

ACCOUNTANTS:

Smith Turner Chartered Accountants

Unit 7, Courtyard 31

Pontefract Road

Normanton

WF6 1JU

FIXED ASSETS

Intangible assets

4

16,000

32,000

Tangible assets

5

3,216,591

3,129,943

3,232,591

3,161,943

CURRENT ASSETS

Stocks

201,479

142,625

Debtors

6

188,965

97,187

390,444

239,812

CREDITORS

Amounts falling due within one year

7

(646,853

)

(876,131

)

NET CURRENT LIABILITIES

(256,409

)

(636,319

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,976,182

2,525,624

CREDITORS

Amounts falling due after more than one year

8

(1,941,056

)

(1,508,286

)

PROVISIONS FOR LIABILITIES

(190,229

)

(168,558

)

NET ASSETS

844,897

848,780

CAPITAL AND RESERVES

Called up share capital

100

66

Capital redemption reserve

-

34

Retained earnings

844,797

848,680

844,897

848,780

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8th December 2025 and were signed on its behalf by:

R D Metcalfe - Director

1.	STATUTORY INFORMATION

Metcalfe Farming Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised over 10 years following transition to FRS102 on 1st June 2016.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost and 25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st June 2024

and 31st May 2025

240,000

AMORTISATION

At 1st June 2024

208,000

Charge for year

16,000

At 31st May 2025

224,000

NET BOOK VALUE

At 31st May 2025

16,000

At 31st May 2024

32,000

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st June 2024

2,210,698

2,375,436

4,586,134

Additions

-

293,904

293,904

Disposals

-

(192,215

)

(192,215

)

At 31st May 2025

2,210,698

2,477,125

4,687,823

DEPRECIATION

At 1st June 2024

-

1,456,191

1,456,191

Charge for year

-

166,819

166,819

Eliminated on disposal

-

(151,778

)

(151,778

)

At 31st May 2025

-

1,471,232

1,471,232

NET BOOK VALUE

At 31st May 2025

2,210,698

1,005,893

3,216,591

At 31st May 2024

2,210,698

919,245

3,129,943

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1st June 2024

1,049,500

Additions

283,068

Transfer to ownership

(86,500

)

At 31st May 2025

1,246,068

DEPRECIATION

At 1st June 2024

417,575

Charge for year

107,184

Transfer to ownership

(47,575

)

At 31st May 2025

477,184

NET BOOK VALUE

At 31st May 2025

768,884

At 31st May 2024

631,925

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/25

31/5/24

£

£

Trade debtors

114,140

76,563

Other debtors

74,825

20,624

188,965

97,187

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/25

31/5/24

£

£

Bank loans and overdrafts

266,495

405,911

Hire purchase contracts

214,590

236,499

Trade creditors

112,653

108,480

Taxation and social security

(2,766

)

52,616

Other creditors

55,881

72,625

646,853

876,131

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/5/25

31/5/24

£

£

Bank loans

1,636,236

1,457,876

Hire purchase contracts

304,393

39,060

Other creditors

427

11,350

1,941,056

1,508,286

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

874,057

955,603

9.	SECURED DEBTS

The following secured debts are included within creditors:

31/5/25

31/5/24

£

£

Bank loans

1,636,236

1,457,876

Hire purchase contracts

518,983

275,559

2,155,219

1,733,435

10.	RELATED PARTY DISCLOSURES

Included in creditors is an amount of £231 owing to the directors of the company. No interest is being charged on this amount, and there are no fixed terms for repayment.