W.J.&M.Mash Limited

	Page
Accountant's Report	1
Statement of Financial Position	2—3
Notes to the Financial Statements	4—13

Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of W.J.&M.Mash Limited For The Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of W.J.&M.Mash Limited For The Year Ended 31 March 2025 which comprise the Income Statement, the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.

As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the directors of W.J.&M.Mash Limited , as a body, in accordance with the terms of our engagement letter dated 05 June 2025. Our work has been undertaken solely to prepare for your approval the accounts of W.J.&M.Mash Limited and state those matters that we have agreed to state to the directors of W.J.&M.Mash Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than W.J.&M.Mash Limited and its directors, as a body, for our work or for this report.

It is your duty to ensure that W.J.&M.Mash Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of W.J.&M.Mash Limited . You consider that W.J.&M.Mash Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of W.J.&M.Mash Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

Signed

Ashley Clarkson FCA ICAEW

12th December 2025

AMEC Consultancy Limited

Chartered Accountants

9 Heath Way

Burton Latimer

Kettering

Northamptonshire

NN15 5YF

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W.J.&M.Mash Limited

Statement of Financial Position

As At 31 March 2025

Statement of Financial Position

Registered number: 00316628

		2025		2024 as restated
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		10,000		10,000
Tangible Assets	5		4,015,549		3,900,754
Investment Properties	6		51,106,460		22,720,577
Investments	7		201		201

			55,132,210		26,631,532
CURRENT ASSETS
Stocks	8	466,324		306,064
Debtors	9	1,790,235		1,371,473
Cash at bank and in hand		208,270		90,991

		2,464,829		1,768,528
Creditors: Amounts Falling Due Within One Year	10	(10,820,789 )		(2,881,510 )

NET CURRENT ASSETS (LIABILITIES)			(8,355,960 )		(1,112,982 )

TOTAL ASSETS LESS CURRENT LIABILITIES			46,776,250		25,518,550

Creditors: Amounts Falling Due After More Than One Year	11		(1,792,965 )		(1,025,404 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	13		(9,235,842 )		(3,855,768 )

NET ASSETS			35,747,443		20,637,378

CAPITAL AND RESERVES
Called up share capital	14		20,000		20,000
Revaluation reserve	17		22,730,155		9,319,818
Capital redemption reserve			20,000		20,000
Income Statement			12,977,288		11,277,560

SHAREHOLDERS' FUNDS			35,747,443		20,637,378

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W.J.&M.Mash Limited

Statement of Financial Position (continued)

As At 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

On behalf of the board

Mr Harvey Mash

Director

12th December 2025

The notes on pages 4 to 13 form part of these financial statements.

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W.J.&M.Mash Limited

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

W.J.&M.Mash Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00316628 . The registered office is Torrington Farm, Grove Lane, Chesham, Buckinghamshire, HP5 3QG.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with FRS102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), 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 FRS102 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 amounts 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 as fair value. The principal accounting polices adopted are set out below.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

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 from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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 is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are registered trade marks and domain names. The enduring economic value of the assets are reviewed annually by the directors as part of review of its trading activities associated with these assets.

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W.J.&M.Mash Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold Land and Buildings	No depreciation charged
Freehold Improvements	4% Straight line
Plant & Machinery	15% - 18% Reducing balance
Motor Vehicles	25% Reducing balance
Fixtures & Fittings	15% Reducing balance
Office and Computer Equipment	33% Reducing balance

2.6. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the statement of comprehensive income and revaluation reserve.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

2.7. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.

2.8. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. This is in compliance with HM Revenue & Customs guidance on farm stocktaking at Buisness income Manual (BIM) BIM55410.

Home-bred or substantially home-reared livestock have therefore been appraised on the basis of deemed cost with cattle returned at 60% of market value and sheep at 75% of market value. Harvested crops are valued on a deemed cost basis at 75% of market value. Growing crops are valued at cost of inputs and operations undertaken to bring it to its current state and condition.

The Herd basis convention related to production herds for accounting purposes is not applicable in this case. The production herd for accounting purposes is included within stock and valued at the end of each accounting period on the same basis as other livestock stated above.

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W.J.&M.Mash Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.9. 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.

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.

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.

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 payments 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. Amounts 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.

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W.J.&M.Mash Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.10. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.11. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.

2.12. Government Grant

Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.

All grants in the income statement are recognised when all conditions for receipt have been complied with.

2.13. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the income statement, directors report, and notes to the financial statements relating to the income statement.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 11 (2024: 7)

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W.J.&M.Mash Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Intangible Assets

	Other
	£
Cost
As at 1 April 2024	10,000

As at 31 March 2025	10,000

Net Book Value
As at 31 March 2025	10,000

As at 1 April 2024	10,000

Other intangibles is the registered trade marks and domain names for the trading activities of the company.

5. Tangible Assets

	Land & Property
	Freehold Land and Buildings	Freehold Improvements	Plant & Machinery	Motor Vehicles
	£	£	£	£
Cost or Valuation
As at 1 April 2024	3,335,766	877,715	1,279,003	72,303
Additions	-	38,610	36,105	-
Disposals	-	-	(7,000 )	-
Transfers	-	-	(21,300 )	-

As at 31 March 2025	3,335,766	916,325	1,286,808	72,303

Depreciation
As at 1 April 2024	-	727,785	923,481	52,092
Provided during the period	-	19,044	102,912	5,053
Disposals	-	-	(7,000 )	-
Transfers	-	-	(4,260 )	-

As at 31 March 2025	-	746,829	1,015,133	57,145

Net Book Value
As at 31 March 2025	3,335,766	169,496	271,675	15,158

As at 1 April 2024	3,335,766	149,930	355,522	20,211


	Fixtures & Fittings	Office and Computer Equipment	Total
	£	£	£
Cost or Valuation
As at 1 April 2024	61,431	9,004	5,635,222
Additions	176,207	2,792	253,714

...CONTINUED

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W.J.&M.Mash Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Disposals	-	-	(7,000 )
Transfers	21,300	-	-

As at 31 March 2025	258,938	11,796	5,881,936

Depreciation
As at 1 April 2024	23,197	7,913	1,734,468
Provided during the period	9,811	2,099	138,919
Disposals	-	-	(7,000 )
Transfers	4,260	-	-

As at 31 March 2025	37,268	10,012	1,866,387

Net Book Value
As at 31 March 2025	221,670	1,784	4,015,549

As at 1 April 2024	38,234	1,091	3,900,754

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W.J.&M.Mash Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Investment Property

	2025
	£
Fair Value
As at 1 April 2024	22,720,577
Additions	10,241,430
Revaluations	18,144,453

As at 31 March 2025	51,106,460

The investment Properties are stated at the Directors' valuation. Depreciation has not been charged on the Investment Properties in accordance with the Financial Reporting Standard for Small Entities (FRS102).

The fair value at 31 March 2025 is represented by:

Cost:

Pre 1 April 2024 - £10,669,086
Investment cost 2025 - £10,241,430

Valuations:

Valuation in 2001 - £246,525
Valuation in 2008 - £34,840
Valuation in 2009 - £1,283,503
Valuation in 2010 - £(152,503)
Valuation in 2019 - £1,296,886
Valuation in 2020 - £9,342,240
Valuation in 2025 - £18,144,453

Investment property comprises of residential and commercial properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 March 2025 by the directors. The valuation of residential properties was made on an open market value basis by reference to market evidence for similar properties. The valuation of commercial properties was made based on multiple of expected rental returns, occupancy rates and market conditions. The directors also recieve professional advice during the valuation assessment on prevailing market conditions to assist in this process.

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W.J.&M.Mash Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

7. Investments

	Subsidiaries
	£
Cost
As at 1 April 2024	201

As at 31 March 2025	201

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	201

As at 1 April 2024	201

8. Stocks

	2025	2024 as restated
	£	£
Youngstock	103,350	96,090
Produce in store	8,873	7,650
Deadstock and consumables	39,255	47,371
Growing crops and cultivations	175,046	154,953
Breeding herd	139,800	-

	466,324	306,064

9. Debtors

	2025	2024 as restated
	£	£
Due within one year
Trade debtors	72,593	17,815
Other debtors	1,646,340	1,353,658

	1,718,933	1,371,473
Due after more than one year
Other debtors	71,302	-

	1,790,235	1,371,473

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W.J.&M.Mash Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

10. Creditors: Amounts Falling Due Within One Year

	2025	2024 as restated
	£	£
Net obligations under finance lease and hire purchase contracts	1,399,421	133,000
Trade creditors	1,292,855	231,801
Bank loans and overdrafts	50,141	13,879
Other creditors	7,973,991	1,718,233
Taxation and social security	104,381	784,597

	10,820,789	2,881,510

11. Creditors: Amounts Falling Due After More Than One Year

	2025	2024 as restated
	£	£
Net obligations under finance lease and hire purchase contracts	938,514	116,383
Bank loans	854,451	909,021

	1,792,965	1,025,404

12. Secured Creditors

Of the creditors the following amounts are secured.

	2025	2024 as restated
	£	£
Net obligations under finance lease and hire purchase contracts	2,337,935	249,383
Bank loans and overdrafts	904,592	922,900

13. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024 as restated
	£	£
Accelerated capital allowances	1,770,056	1,124,095
Revaluation of investment properties	7,465,786	2,731,673

	9,235,842	3,855,768

14. Share Capital

	2025	2024 as restated
	£	£
Allotted, Called up and fully paid	20,000	20,000

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W.J.&M.Mash Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

15. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mr Harvey Mash	(1,682 )	84,631	(30,000 )	-	52,949
Mr Douglas Mash	954,169	158,316	-	-	1,112,485

The above loan is unsecured, interest free and repayable on demand.

Dividends paid to directors

	2025	2024
	£	£
Mr Harvey Mash	30,000	-
Mr Douglas Mash	70,000	-

16. Dividends

	2025	2024 as restated
	£	£
On equity shares:
Final dividend paid	100,000	-

17. Reserves

	Revaluation Reserve
	£
As at 1 April 2024	9,319,818
Surplus on revaluation	13,410,337

As at 31 March 2025	22,730,155

The revaluation reserve relates to the portfolio of investment properties held by the company. The revaluation reserve represents the unrealised profit on revaluation net of a provision for deferred tax.

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