Company No: 03514058 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	5,415,256		5,379,407
Investment property	5	5,355,500		5,355,500
Investments	6	15		15
		10,770,771		10,734,922
Current assets
Stocks		189,681		203,911
Debtors	7	259,068		355,393
Cash at bank and in hand		2,264,353		1,903,151
		2,713,102		2,462,455
Creditors: amounts falling due within one year	8	( 8,516,630)		( 8,509,709)
Net current liabilities		(5,803,528)		(6,047,254)
Total assets less current liabilities		4,967,243		4,687,668
Provision for liabilities		( 47,452)		( 26,137)
Net assets		4,919,791		4,661,531
Capital and reserves
Called-up share capital	9	4,000,000		4,000,000
Profit and loss account		919,791		661,531
Total shareholder's funds		4,919,791		4,661,531

For the financial 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 member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Stavordale Farms Limited (registered number: 03514058) were approved and authorised for issue by the Board of Directors on 15 December 2025. They were signed on its behalf by:

Mr R T Knibb Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Stavordale Farms Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Bedford Square, London, WC1B 3RB, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line, reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
	25 years straight line
Assets under construction	not depreciated
Plant and machinery	15 % reducing balance
Other property, plant and equipment	25 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 April 2024	38,859		38,859
At 31 March 2025	38,859		38,859
Accumulated amortisation
At 01 April 2024	38,859		38,859
At 31 March 2025	38,859		38,859
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Land and buildings		Assets under construc- tion		Plant and machinery		Other property, plant and equipment		Total
	£		£		£		£		£
Cost
At 01 April 2024	5,682,222		0		981,882		1,782,550		8,446,654
Additions	0		120,797		167,218		0		288,015
Disposals	0		0		( 88,000)		0		( 88,000)
At 31 March 2025	5,682,222		120,797		1,061,100		1,782,550		8,646,669
Accumulated depreciation
At 01 April 2024	1,536,227		0		667,979		863,041		3,067,247
Charge for the financial year	95,191		0		52,484		71,302		218,977
Disposals	0		0		( 54,811)		0		( 54,811)
At 31 March 2025	1,631,418		0		665,652		934,343		3,231,413
Net book value
At 31 March 2025	4,050,804		120,797		395,448		848,207		5,415,256
At 31 March 2024	4,145,995		0		313,903		919,509		5,379,407

Included within the net book value of land and buildings above is £3,302,499 (2024- £3,523,397) in respect of freehold land and £748,307 (2024- 843,498) in respect of farm building.

5. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	5,355,500
As at 31 March 2025	5,355,500

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 1 April 2015 by the directors of the company. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties. As at 31 March 2025 the fair value of the property in the financial statements was reviewed by the directors based on their knowledge ofthe propertyand documented trends in the localproperty market. There has been no valuation of investment [property by an independent valuer.

6. Fixed asset investments

	Listed investments		Total
	£		£
Cost or valuation before impairment
At 01 April 2024	15		15
At 31 March 2025	15		15
Carrying value at 31 March 2025	15		15
Carrying value at 31 March 2024	15		15

7. Debtors

	2025		2024
	£		£
Trade debtors	177,973		196,611
Other debtors	81,095		158,782
	259,068		355,393

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	162,176		135,391
Taxation and social security	120,269		115,801
Other creditors	8,234,185		8,258,517
	8,516,630		8,509,709

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
4,000,000 Ordinary shares of £ 1.00 each	4,000,000		4,000,000