DAWSON FARMS LIMITED


Director	Steven Roger Dawson


Company Secretary	Kate Elizabeth Dawson


Registered Address	Thornhill Farm, Blackhorse Lane
	Swainby
	Northallerton
	DL6 3ET


Registered Number	05032764 (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. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

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.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	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.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

	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: Freehold property is depreciated at 2% straight line.

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:

Freehold property is depreciated at 2% straight line.

	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
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). 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.

	Government grants or assistance
	Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

Government grants or assistance

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. 

Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	6		7

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
Additions	6,250	6,250
At 31 March 25	6,250	6,250
Amortisation and impairment
Charge for year	937	937
At 31 March 25	937	937
Net book value
At 31 March 25	5,313	5,313
At 31 March 24	-	-

4.	Useful life of intangible assets
	Intangible assets are not permitted to have an indefinite life and must be amortised over their estimated useful life. The estimated useful life of Software has been set at 5 years and the asset will be amortized on a straight line basis over that period.

5.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 April 24	2,982,929	2,545,121	48,219	14,953	5,591,222
Additions	-	131,300	-	-	131,300
Disposals	-	(71,163)	-	(729)	(71,892)
At 31 March 25	2,982,929	2,605,258	48,219	14,224	5,650,630
Depreciation and impairment
At 01 April 24	508,640	1,236,472	37,558	14,290	1,796,960
Charge for year	67,919	212,480	2,666	649	283,714
On disposals	-	(62,269)	-	(729)	(62,998)
At 31 March 25	576,559	1,386,683	40,224	14,210	2,017,676
Net book value
At 31 March 25	2,406,370	1,218,575	7,995	14	3,632,954
At 31 March 24	2,474,289	1,308,649	10,661	663	3,794,262


	The net book value of land and buildings is made up of Land and Freehold £2,081,786 (2024: £2,092,425) and Building and Improvements £324,584 (2024: £381,864). Included in Land and Freehold is land of £1,603,027 (2024: £1,603,027) which has not been depreciated.

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	431,374	559,636
Other debtors	14,420	18,236
Prepayments and accrued income	13,905	16,502
Total	459,699	594,374

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	290,729	386,549
Taxation and social security	4,622	84,396
Finance lease and HP contracts	145,107	185,390
Other creditors	7,228	9,107
Total	447,686	665,442


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

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Other creditors	2,555,164	2,794,281
Total	2,555,164	2,794,281


	Finance lease and HP contracts equal to £163,839 (2024 - £279,513) are included within other creditors and are secured against the assets to which they relate. Included within other creditors are 1.8% Preference Shares of £850,000 (2024: £850,000). These shares have a fixed coupon not controllable or at the discretion of the company, and as such they have been classified as debt in line with the definition as described within the financial instrument policy.

Finance lease and HP contracts equal to £163,839 (2024 - £279,513) are included within other creditors and are secured against the assets to which they relate. 

Included within other creditors are 1.8% Preference Shares of £850,000 (2024: £850,000). These shares have a fixed coupon not controllable or at the discretion of the company, and as such they have been classified as debt in line with the definition as described within the financial instrument policy.

9.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	308,946		464,903

10.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	278,500	308,200
Total	278,500	308,200

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		5,313		-
Tangible assets	5		3,632,954		3,794,262
			3,638,267		3,794,262
Current assets
Stocks		306,731		285,381
Debtors	6	459,699		594,374
Current asset investments		600,000		-
Cash at bank and on hand		386,380		1,311,485
		1,752,810		2,191,240
Creditors amounts falling due within one year	7	(447,686)		(665,442)
Net current assets (liabilities)			1,305,124		1,525,798
Total assets less current liabilities			4,943,391		5,320,060
Creditors amounts falling due after one year	8		(2,555,164)		(2,794,281)
Provisions for liabilities	10		(278,500)		(308,200)
Net assets			2,109,727		2,217,579
Capital and reserves
Called up share capital			1,000		1,000
Profit and loss account			2,108,727		2,216,579
Shareholders' funds			2,109,727		2,217,579