Company No: 05846333 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	H J Parente
	I Goodwin
	O Stubbins

REGISTERED OFFICE	Portland Estate Office Cavendish House
	Welbeck
	Worksop
	S80 3LL
	United Kingdom

COMPANY NUMBER

05846333 (England and Wales)

AUDITOR	Dixon Wilson Audit Services LLP
	Statutory Auditor
	22 Chancery Lane
	London
	WC2A 1LS

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	60,788		67,899
		60,788		67,899
Current assets
Stocks		107,410		108,819
Debtors	4	171,317		97,377
Cash at bank and in hand		18,216		23,449
		296,943		229,645
Creditors: amounts falling due within one year	5	( 869,652)		( 1,169,522)
Net current liabilities		(572,709)		(939,877)
Total assets less current liabilities		(511,921)		(871,978)
Provision for liabilities	6	( 16,213)		( 22,490)
Net liabilities		( 528,134)		( 894,468)
Capital and reserves
Called-up share capital		295,000		295,000
Profit and loss account		( 823,134 )		( 1,189,468 )
Total shareholders' deficit		( 528,134)		( 894,468)

The 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 The Welbeck Farm Shop Limited (registered number: 05846333) were approved and authorised for issue by the Board of Directors on 19 November 2025. They were signed on its behalf by:

H J Parente 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

The Welbeck Farm Shop 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 Portland Estate Office Cavendish House, Welbeck, Worksop, S80 3LL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 company is dependent upon the financial support of The Welbeck Estates Company Limited, the parent company, to meet its day to day working capital requirements through a guaranteed overdraft facility and to provide additional funds to meet liabilities as and when they fall due. The accounts have been prepared on a going concern basis reflecting this continuing support.

Turnover

Turnover represents amounts receivable for goods and services, net of VAT and trade discounts, in the course of operating the Welbeck Farm Shop and the Harley Cafe. Turnover is recognised on an accruals basis when the goods are sold and the services are provided.

Taxation

Current tax
Under an agreement between companies within the group, a company that surrenders tax losses for group relief is entitled to receive the compensation from the claimant company equal to the amount of relief in terms of tax saving generated from the loss relief claim. The compensation is recognised in the period to which the loss relief claim relates and is recorded as a tax credit (in the case of the surrendering company) and a tax expense (in the case of the claimant company).

Deferred tax
Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but are not reversed by the balance sheet date, except as required by FRS 102, or as stated in the Accounting Policies.

Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Loyalty points

The company operates a loyalty points scheme. Customers can accrue points when they make purchases from the company and use those points as payment towards future purchases from the company. The obligation in respect of the points which have accrued to customers but have not been spent is recognised as a provision in the financial statements. The provision is calculated based on the estimated expected cost to the company of the outstanding points.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	2 - 8 years straight line
Fixtures and fittings	5 - 5 years straight line
Office equipment	2 - 8 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The company as lessee
Rentals payable under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Trade and other debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Provisions

Provisions are recognised when the company has an obligation at the reporting date 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	65		53

3. Tangible assets

	Plant and machinery		Fixtures and fittings		Office equipment		Total
	£		£		£		£
Cost
At 01 April 2024	125,024		336,142		48,145		509,311
Additions	16,653		1,628		4,186		22,467
Disposals	( 3,571)		0		( 24,467)		( 28,038)
At 31 March 2025	138,106		337,770		27,864		503,740
Accumulated depreciation
At 01 April 2024	89,885		308,469		43,058		441,412
Charge for the financial year	16,487		9,399		3,252		29,138
Disposals	( 3,571)		0		( 24,027)		( 27,598)
At 31 March 2025	102,801		317,868		22,283		442,952
Net book value
At 31 March 2025	35,305		19,902		5,581		60,788
At 31 March 2024	35,139		27,673		5,087		67,899

4. Debtors

	2025		2024
	£		£
Trade debtors	25,507		75,209
Deferred tax asset	120,541		0
Other debtors	25,269		22,168
	171,317		97,377

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank overdrafts	71,370		186,570
Trade creditors	226,566		210,105
Amounts owed to group undertakings (note 9)	437,037		681,857
Other taxation and social security	42,769		28,166
Other creditors	91,910		62,824
	869,652		1,169,522

The company has given the bank a charge over its assets as security in respect of the overdraft liability.

6. Provision for liabilities

	2025		2024
	£		£
Other provisions	16,213		22,490

	Other		Total
	£		£
At 01 April 2024	22,490		22,490
Loyalty points granted to customers	5,630		5,630
Loyalty points redeemed by customers	( 11,907)		( 11,907)
At 31 March 2025	16,213		16,213

Other provisions relate to loyalty points accrued by customers.

7. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	0		0
Credited to the Profit and Loss Account	120,541		0
At the end of financial year	120,541		0

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
within one year	40,000		40,000
between one and five years	160,000		160,000
after five years	240,000		280,000
Total future minimum lease payments under non-cancellable operating leases	440,000		480,000

9. Related party transactions

Transactions with group companies

Amounts owed to Group undertakings

	2025		2024
	£		£
Amounts owed to group companies	437,037		681,857

During the year the company made the following related party transactions:

The Welbeck Estates Company Limited (the 'parent') owns 89% of the ordinary shares of the company and 100% of the preference shares of the company. The parent has provided a guarantee of up to £300,000 to National Westminster Bank Plc as security for the company's bank overdraft. The company paid a guarantee fee to the parent of 1% per annum amounting to £3,000 (2024: £3,000). In addition, the parent charged loan interest to the company of £4,218 (2024: £4,218) and paid various expenses on behalf of the company during the year. At the balance sheet date the amount due to The Welbeck Estates Company Limited was £437,037 (2024: £681,857). The amount due to the parent is unsecured and repayable on demand.

10. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 March 2025 was unqualified.

The audit report was signed by Gregory Smye-Rumsby on behalf of Dixon Wilson Audit Services LLP.

11. Ultimate controlling party

Parent Company:

The Welbeck Estates Company Limited

Portland Estate Office Cavendish House Welbeck Worksop Nottinghamshire S80 3LL

The consolidated financial statements of The Welbeck Estates Company Limited are available from Companies House.