Vaynor Farm Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 4827903

Vaynor Farm Limited

Filleted Unaudited Financial Statements

31 March 2025

Vaynor Farm Limited

Financial Statements

Year ended 31 March 2025

Contents	Pages

Statement of financial position	1 to 2

Notes to the financial statements	3 to 8

Vaynor Farm Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	6	3,334,362	3,268,507
Investments	7	3,629	3,629
		------------	------------
		3,337,991	3,272,136

Current assets

Stocks	8	673,615	655,711
Debtors	9	519,548	427,889
Investments	10	555	152
Cash at bank and in hand		70,894	73,057
		------------	------------
		1,264,612	1,156,809

Creditors: amounts falling due within one year	11	( 698,493)	( 648,507)
		------------	------------
Net current assets		566,119	508,302
		------------	------------
Total assets less current liabilities		3,904,110	3,780,438

Creditors: amounts falling due after more than one year	12	( 2,202,342)	( 2,263,056)

Provisions	13	( 123,014)	( 116,019)
		------------	------------
Net assets		1,578,754	1,401,363
		------------	------------

Capital and reserves

Called up share capital	15	100	100
Profit and loss account		1,578,654	1,401,263
		------------	------------
Shareholders funds		1,578,754	1,401,363
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Vaynor Farm Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 16 December 2025 , and are signed on behalf of the board by:

Mr FW Ridge

Director

Company registration number: 4827903

Vaynor Farm Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Granary, Vaynor Farm, Narberth, Pembrokeshire, SA67 8HW.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements 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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue 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.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

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.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	over 50 years
Plant and machinery	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

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 largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. Biological assets and agricultural produce The company applies the cost model in relation to biological assets and agricultural produce. Biological assets are measured at costs less impairment.

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 statement of financial position 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.

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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 14 (2024: 7 ).

5. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	61,927	34,722
Adjustments in respect of prior periods	–	( 1,505)
	--------	--------
Total current tax	61,927	33,217
	--------	--------

Deferred tax:

Origination and reversal of timing differences	6,995	6,831
	--------	--------
Tax on profit	68,922	40,048
	--------	--------

6. Tangible assets

	Freehold property	Plant and machinery	Total
	£	£	£
Cost
At 1 April 2024	2,794,471	1,610,245	4,404,716
Additions	20,555	226,632	247,187
Disposals	–	( 96,349)	( 96,349)
	------------	------------	------------
At 31 March 2025	2,815,026	1,740,528	4,555,554
	------------	------------	------------
Depreciation
At 1 April 2024	21,570	1,114,639	1,136,209
Charge for the year	4,933	139,809	144,742
Disposals	–	( 59,759)	( 59,759)
	------------	------------	------------
At 31 March 2025	26,503	1,194,689	1,221,192
	------------	------------	------------
Carrying amount
At 31 March 2025	2,788,523	545,839	3,334,362
	------------	------------	------------
At 31 March 2024	2,772,901	495,606	3,268,507
	------------	------------	------------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery
	£
At 31 March 2025	244,433
	---------
At 31 March 2024	168,280
	---------

7. Investments

	Other investments
	£
Cost
At 1 April 2024 and 31 March 2025	3,629
	-------
Impairment
At 1 April 2024 and 31 March 2025	–
	-------

Carrying amount
At 31 March 2025	3,629
	-------
At 31 March 2024	3,629
	-------

8. Stocks

	2025	2024
	£	£
Total stock	673,615	655,711
	---------	---------

The breakdown of total stock is as follows:

	2025	2024
	£	£
Livestock	99,775	96,816
Feed, forage and bedding	17,598	30,541
Fertiliser	37,842	9,954
Dairy Herd	518,400	518,400
	---------	---------
Sales	673,615	655,711
	---------	---------

Dairy herd includes biological assets for the amount of £518,400 (2024 - £518,400).

9. Debtors

	2025	2024
	£	£
Trade debtors	154,064	80,596
Other debtors	365,484	347,293
	---------	---------
	519,548	427,889
	---------	---------

Other debtors include an amount of £nil (2024 - £nil) falling due after more than one year.

10. Investments

	2025	2024
	£	£
Listed investments	555	152
	----	----

Market value of listed investments at 31 March 2025 was £555 (2024 - £152). The purchase price of the listed investments was £165.

11. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts (secured)	249,244	234,378
Trade creditors	205,453	167,270
Hire purchase agreements (secured)	57,376	73,180
Corporation tax	61,927	34,722
Social security and other taxes	3,840	2,999
Other creditors	120,653	135,958
	---------	---------
	698,493	648,507
	---------	---------

Barclays Bank PLC hold charges over the property and land of the company.

12. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts (secured)	2,093,347	2,196,197
Hire purchase agreements (secured)	108,911	66,783
Other creditors	84	76
	------------	------------
	2,202,342	2,263,056
	------------	------------

Included within creditors: amounts falling due after more than one year is an amount of £1,375,427 (2024: £1,910,315) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

13. Provisions

	Deferred tax (note 14)
	£
At 1 April 2024	116,019
Additions	6,995
	---------
At 31 March 2025	123,014
	---------

14. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 13)	123,014	116,019
	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	123,014	116,019
	---------	---------

15. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

16. Related party transactions

The company was under the control of Mr FW Ridge and Mrs LJ Ridge, the managing directors, throughout the current and previous year. Mrs LJ Ridge is the ultimate controlling party, by virtue of her shareholding. During the year the company paid rent of £28,000 (2024 - £28,000) to Mr FW Ridge , the managing director. During the year the company paid dividends totalling £49,400 (2024 - £31,000) to Mr FW Ridge and Mrs LJ Ridge, the managing directors.