REGISTERED NUMBER: 00626035 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

WELFORD FARMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J H L Puxley

Mrs D A Puxley

W E L Puxley

SECRETARY:

Mrs D A Puxley

REGISTERED OFFICE:

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

REGISTERED NUMBER:

00626035 (England and Wales)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

FIXED ASSETS

Tangible assets

4

2,837,226

2,285,357

Investments

5

1,898,907

1,777,762

4,736,133

4,063,119

CURRENT ASSETS

Debtors

6

20,046

89,196

Cash at bank

243,504

391,884

263,550

481,080

CREDITORS

Amounts falling due within one year

7

816,172

380,650

NET CURRENT (LIABILITIES)/ASSETS

(552,622

)

100,430

TOTAL ASSETS LESS CURRENT LIABILITIES

4,183,511

4,163,549

CREDITORS

Amounts falling due after more than one year

8

(959,744

)

(1,031,026

)

PROVISIONS FOR LIABILITIES

(48,511

)

(53,352

)

NET ASSETS

3,175,256

3,079,171

CAPITAL AND RESERVES

Called up share capital

863,690

863,690

Retained earnings

2,311,566

2,215,481

SHAREHOLDERS' FUNDS

3,175,256

3,079,171

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 3rd December 2025 and were signed on its behalf by:

J H L Puxley - Director

Mrs D A Puxley - Director

1.	STATUTORY INFORMATION

Welford Farms 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold land and property

-

at variable rates on reducing balance and nil

Plant and machinery

-

15% on reducing balance and 10% on reducing balance

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.

Pension costs and other post-retirement benefits

The company makes contributions to a group personal pension plan for the benefit of certain employees and to the personal pension plan of one employee. In addition the company operates a small self administered pension scheme for the benefit of the directors. Contributions payable for the year are charged in the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

land and

Plant and

property

machinery

Totals

£

£

£

COST

At 1st April 2024

2,552,037

577,013

3,129,050

Additions

591,714

-

591,714

At 31st March 2025

3,143,751

577,013

3,720,764

DEPRECIATION

At 1st April 2024

505,035

338,658

843,693

Charge for year

15,988

23,857

39,845

At 31st March 2025

521,023

362,515

883,538

NET BOOK VALUE

At 31st March 2025

2,622,728

214,498

2,837,226

At 31st March 2024

2,047,002

238,355

2,285,357

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st April 2024

1,777,762

Additions

201,983

Disposals

(80,838

)

At 31st March 2025

1,898,907

NET BOOK VALUE

At 31st March 2025

1,898,907

At 31st March 2024

1,777,762

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

6,000

40,342

Amounts owed by group undertakings

-

25,050

Other debtors

8,304

8,304

VAT

5,742

-

Prepayments and accrued income

-

15,500

20,046

89,196

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

56,500

41,701

Trade creditors

6,471

1,220

Tax

12,961

18,595

Social security and other taxes

913

913

VAT

-

11,996

Other creditors

121,308

-

Directors' current accounts

615,069

303,275

Accruals and deferred income

2,950

2,950

816,172

380,650

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

56,500

43,799

Bank loans - 2-5 years

169,501

139,766

Bank loan > 5 yrs

733,743

847,461

959,744

1,031,026

Amounts falling due in more than five years:

Repayable by instalments

Bank loan > 5 yrs

733,743

847,461

The bank loans are repayable by instalment over 20 years.

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

1,016,244

1,072,727

The bank loan is secured by a legal charge over the Land at Welford Estate, Welford, Newbury, Berkshire, RG20 8HU and The Old Kennels, Welford, Newbury, Berkshire, RG20 8HU.