Hallmark Farming Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00172197

Hallmark Farming Limited

Filleted Unaudited Financial Statements

For the year ended

31 March 2025

Hallmark Farming Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Hallmark Farming Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		336,158		345,146

Current assets

Stocks		86,471	90,724
Debtors	6	82,162	55,711
Cash at bank and in hand		2,740	86,103
		----------	----------
		171,373	232,538

Creditors: amounts falling due within one year	7	( 394,275)		( 366,280)
		----------		----------
Net current liabilities			( 222,902)		( 133,742)
			----------		----------
Total assets less current liabilities			113,256		211,404

Creditors: amounts falling due after more than one year	8		( 14,779)		( 24,905)

Provisions

Taxation including deferred tax	( 40,180)	( 51,316)
	----------	----------
Net assets	58,297	135,183
	----------	----------

Capital and reserves

Called up share capital	40	40
Share premium account	29,985	29,985
Capital redemption reserve	75	75
Profit and loss account	28,197	105,083
	--------	----------
Shareholders funds	58,297	135,183
	--------	----------

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.

Hallmark Farming Limited

Statement of Financial Position (continued)

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.

Directors' responsibilities:

- The member has 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 .

These financial statements were approved by the board of directors and authorised for issue on 21 December 2025 , and are signed on behalf of the board by:

Mr E M Coulman

Director

Company registration number: 00172197

Hallmark Farming 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 Hall, EASTOFT, Scunthorpe, North Lincolnshire, DN17 4PG.

2. Statement of compliance

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

3. Accounting policies

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. (b) Going concern The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis. (c) Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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. Revenue from the sale of renewable energy is recognised on supply of energy generated during the period. (d) Current and deferred tax 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 be paid or recovered 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. (e) Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. (f) 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:

Leasehold Property	-	15 years
Plant and machinery	-	7 years

(g) 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.

(h) Stocks

Stocks are valued at the lower of cost and net realisable value. Produce on hand is valued on a deemed cost basis at 75% of market value.

(i) Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

(j) Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

(k) 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 2 (2024: 2 ).

5. Tangible assets

	Leasehold Land and buildings	Plant and machinery	Total
	£	£	£
Cost
At 1 April 2024	551,021	403,474	954,495
Additions	54,316	4,499	58,815
Disposals	–	( 36,711)	( 36,711)
	----------	----------	----------
At 31 March 2025	605,337	371,262	976,599
	----------	----------	----------
Depreciation
At 1 April 2024	352,317	257,032	609,349
Charge for the year	25,118	27,421	52,539
Disposals	–	( 21,447)	( 21,447)
	----------	----------	----------
At 31 March 2025	377,435	263,006	640,441
	----------	----------	----------
Carrying amount
At 31 March 2025	227,902	108,256	336,158
	----------	----------	----------
At 31 March 2024	198,704	146,442	345,146
	----------	----------	----------

6. Debtors

	2025	2024
	£	£
Trade debtors	68,372	30,733
Other debtors	13,790	24,978
	--------	--------
	82,162	55,711
	--------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	77,817	12,248
Trade creditors	104,117	61,920
Accruals and deferred income	38,342	38,950
Corporation tax	–	11,457
Obligations under finance leases and hire purchase contracts	14,369	57,241
Director loan accounts	159,630	184,464
	----------	----------
	394,275	366,280
	----------	----------

Bank loans and overdrafts are secured by a charge over leasehold property. Hire purchase liabilities are secured on the associated asset.

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

	2025	2024
	£	£
Bank loans and overdrafts	14,779	24,905
	--------	--------

Bank loans are secured by a charge over leasehold property. Hire purchase liabilities are secured on the associated asset

9. Related party transactions

During the year the director had a loan account with the company. The balance outstanding from the company at the Balance Sheet date was £ 159,630 (2024 £184,464). The loan is interest free and repayable on demand.