John T. Fall Limited


Directors	Stephen Charles Fall
	Annabel Louise Fall


Company Secretary	Annabel Louise Fall


Registered Address	Mill Beck
	Kirklington
	Bedale
	DL8 2LX


Registered Number	01306639 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

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

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Defined contribution pension plan
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in other creditors in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets’ residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets’ residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	25
Plant and machinery	25	-
Vehicles	25	-

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

	Finance leases and hire purchase contracts
	Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease. Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

Finance leases and hire purchase contracts

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease.

Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

	Stocks and work in progress
	Biological assets within stock, comprising of weaner and fattener pigs only, are valued under the deemed cost model in accordance with Section 34 of FRS102, using the selling price less cost to sell. Farming stocks, raw materials and consumable stores are stated at the lower of cost and net realisable value. Living plants are valued at deemed cost in accordance with Section 34 of FRS102, using selling price less cost to sell. Crops before the point of harvest such as potatoes are classified as biological assets. At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Income Statement.

Stocks and work in progress

Biological assets within stock, comprising of weaner and fattener pigs only, are valued under the deemed cost model in accordance with Section 34 of FRS102, using the selling price less cost to sell. 

Farming stocks, raw materials and consumable stores are stated at the lower of cost and net realisable value. Living plants are valued at deemed cost in accordance with Section 34 of FRS102, using selling price less cost to sell.

Crops before the point of harvest such as potatoes are classified as biological assets.

At each date of Statement of Financial Position, stocks are assessed for impairment.  If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale.  The impairment loss is recognised immediately in the Income Statement.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	9		10

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 April 24	1,510	1,510
At 31 March 25	1,510	1,510
Net book value
At 31 March 25	1,510	1,510
At 31 March 24	1,510	1,510

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Total
	£	£	£	£
Cost or valuation
At 01 April 24	1,917,466	3,873,365	263,113	6,053,944
Additions	-	164,092	33,300	197,392
Disposals	-	-	(16,995)	(16,995)
At 31 March 25	1,917,466	4,037,457	279,418	6,234,341
Depreciation and impairment
At 01 April 24	819,533	2,951,823	235,321	4,006,677
Charge for year	-	302,262	-	302,262
On disposals	-	-	(14,726)	(14,726)
At 31 March 25	819,533	3,254,085	220,595	4,294,213
Net book value
At 31 March 25	1,097,933	783,372	58,823	1,940,128
At 31 March 24	1,097,933	921,542	27,792	2,047,267


	Included in land and buildings is land costing £304,798 that has not been depreciated.

5.	Stocks

	2025	2024
	£	£
Raw materials and consumables	1,454,232	1,046,198
Total	1,454,232	1,046,198

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	288,400	420,680
Other debtors	21,815	12,521
Prepayments and accrued income	-	34,993
Total	310,215	468,194

7.	Current asset investments

8.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	224,247	145,973
Taxation and social security	64,936	-
Finance lease and HP contracts	60,651	59,546
Accrued liabilities and deferred income	43,549	10,350
Total	393,383	215,869


	Finance lease and HP contracts are secured on the assets to which they relate.

9.	Creditors: amounts due after one year

	2025	2024
	£	£
Other creditors	284,986	475,735
Total	284,986	475,735


	Finance lease and Hire Purchase contracts amounting to £122,406 (2024 - £144,436) are included within other creditors.

10.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	122,406		181,952

11.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	218,300	237,300
Total	218,300	237,300

12.	Pension commitments
	The pension cost charge represents contributions payable by the company to the fund and amounted to £7,211 (2024 - £7,285).

13.	Related party transactions
	Included in other creditors are loans from the directors. These loans are interest free with no set terms for repayment.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		1,510		1,510
Tangible assets	4		1,940,128		2,047,267
			1,941,638		2,048,777
Current assets
Stocks	5	1,454,232		1,046,198
Debtors	6	310,215		468,194
Current asset investments	7	93,285		93,285
Cash at bank and on hand		442,496		81,136
		2,300,228		1,688,813
Creditors amounts falling due within one year	8	(393,383)		(215,869)
Net current assets (liabilities)			1,906,845		1,472,944
Total assets less current liabilities			3,848,483		3,521,721
Creditors amounts falling due after one year	9		(284,986)		(475,735)
Provisions for liabilities	11		(218,300)		(237,300)
Net assets			3,345,197		2,808,686
Capital and reserves
Called up share capital			140,000		140,000
Share premium			1,045,000		1,045,000
Profit and loss account			2,160,197		1,623,686
Shareholders' funds			3,345,197		2,808,686