Company No: 02506664 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	33,497,777		33,359,336
Biological assets	4	29,877		23,003
Investment property	5	6,737,643		6,737,643
Investments	6	6,411,478		6,267,264
		46,676,775		46,387,246
Current assets
Stocks	7	1,862,434		769,163
Debtors	8	387,782		461,132
Cash at bank and in hand		1,446,501		3,568,289
		3,696,717		4,798,584
Creditors: amounts falling due within one year	9	( 179,511)		( 326,732)
Net current assets		3,517,206		4,471,852
Total assets less current liabilities		50,193,981		50,859,098
Creditors: amounts falling due after more than one year	10	( 6,000,000)		( 6,000,000)
Provision for liabilities		( 8,547,943)		( 8,858,321)
Net assets		35,646,038		36,000,777
Capital and reserves
Called-up share capital		9,222		9,222
Profit and loss account		35,636,816		35,991,555
Total shareholder's funds		35,646,038		36,000,777

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 Betchton Limited (registered number: 02506664) were approved and authorised for issue by the Board of Directors on 23 December 2025. They were signed on its behalf by:

H V Wheeler Director

H L Wheeler 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

Betchton 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 The Long Barn Love Lane, Betchton, Sandbach, CW11 2TS, 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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of crops and other farming income, forestry products, holiday let and rental income and motor sales. Turnover is shown net of VAT and is recognised when the risks and rewards of ownership have been transferred to the customer for the farming income and motor sales and in the period holiday let and rental income relates.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

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. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

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

Land and buildings	not depreciated
Leasehold improvements	0 - 50 years straight line
Plant and machinery	25 % reducing balance

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.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Biological assets

Animals used for breeding purposes have been excluded from stock and included at original cost under the herd basis in tangible fixed assets and are not depreciated . In accordance with FRS102, these are defined as biological assets.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

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.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Fixed asset investments

Motor vehicles held as fixed asset investments are valued at their fair value. Gains and losses on remeasurement are recognised in profit or loss for the year.

Listed investments held as fixed assets are valued at the market price at the valuation date. Gains and losses on remeasurement are recognised in profit or loss for the year.

Unlisted investments held as fixed assets are valued at their fair value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the year.

Stocks

Crops comprising agricultural produce (i.e crops in store, crops in the ground and livestock) and other stock such as fertiliser and sprays are stated at the lower of cost and estimated selling price less costs to complete and sell. Included in stock are current biological assets including crop tillages, which are stated at cost.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. 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.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	6		6

3. Tangible assets

	Land and buildings		Leasehold improve- ments		Plant and machinery		Total
	£		£		£		£
Cost
At 01 April 2024	33,199,792		0		592,646		33,792,438
Additions	21,759		65,861		90,707		178,327
At 31 March 2025	33,221,551		65,861		683,353		33,970,765
Accumulated depreciation
At 01 April 2024	0		0		433,102		433,102
Charge for the financial year	0		0		39,886		39,886
At 31 March 2025	0		0		472,988		472,988
Net book value
At 31 March 2025	33,221,551		65,861		210,365		33,497,777
At 31 March 2024	33,199,792		0		159,544		33,359,336

Revaluation of tangible assets

Freehold land and buildings were revalued to fair value at 31 March 2025. This valuation was undertaken by the directors based on a professional valuation undertaken in 2019. The historical cost of freehold land and buildings is £9,945,327 (2024: £9,923,568).

The freehold land and buildings of the company have been pledged to secure borrowings of the company. The company is not allowed to pledge these assets as security for other borrowings or to sell them to another entity.

4. Biological assets

	2025
	£
Biological assets at cost	29,877

Assets held at cost:

	Sheep		Total
	£		£
Cost
At 01 April 2024	23,003		23,003
Increase due to purchases/ transfers in	6,874		6,874
At 31 March 2025	29,877		29,877
Net book value
At 31 March 2025	29,877		29,877
At 31 March 2024	23,003		23,003

5. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	6,737,643
As at 31 March 2025	6,737,643

Valuation

Investment properties, which are all freehold, were revalued to fair value at 31 March 2024. This valuation was undertaken by the directors based on a professional valuation undertaken in 2019. The historical cost of investment properties is £1,039,032 (2024: £1,039,032).

6. Fixed asset investments

	Listed investments		Other investments		Total
	£		£		£
Cost or valuation before impairment
At 01 April 2024	2,252,921		4,014,343		6,267,264
Additions	392,580		744,562		1,137,142
Disposals	( 199,759)		( 268,931)		( 468,690)
Movement in fair value	( 154,642)		( 369,596)		( 524,238)
At 31 March 2025	2,291,100		4,120,378		6,411,478
Carrying value at 31 March 2025	2,291,100		4,120,378		6,411,478
Carrying value at 31 March 2024	2,252,921		4,014,343		6,267,264

Other investments comprise unlisted investments and motor vehicles.

The historical cost of listed and unlisted investments had they not been revalued is £3,997,750(2024: £3,525,483).

Listed investments includes £121,380 (2024: £337,82) held on a cash account with the investment manager.

The historical cost of motor vehicles had they not been revalued is £669,641 (2024: £669,641).

7. Stocks

	2025		2024
	£		£
Finished goods	1,278,234		354,234
Livestock	38,850		15,540
Crops	291,188		153,000
Other stock	254,162		246,389
	1,862,434		769,163

8. Debtors

	2025		2024
	£		£
Trade debtors	223,148		112,600
Other debtors	164,634		348,532
	387,782		461,132

9. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	156,666		113,693
Taxation and social security	( 549)		199,451
Other creditors	23,394		13,588
	179,511		326,732

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

	2025		2024
	£		£
Bank loans (secured)	6,000,000		6,000,000

Bank loans are secured by a legal charge over freehold land and buildings of the company. Bank loans of £4,500,000 are repayable in full by February 2031 with interest charged at a fixed rate. A further bank loan of £1,500,000 is repayable in full by July 2031 with interest being charged on a variable rate.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2025		2024
	£		£
Bank loans (secured)	6,000,000		6,000,000

11. Related party transactions

Transactions with the entity's directors

The directors loan account are repayable on demand and interest is charged on  overdrawn balances exceeding £10,000 at the official HMRC rates. 

At  1 April 2024,  the  balance  owed by the directors was  £161.  During  the  year,  £261,367 was  advanced  to  the  directors,  and  £261,528  was repaid by the directors. At 31 March 2025, the balance owed by the directors was £nil. 

At  1 April 2023,  the  balance  owed by the directors was  £nil.  During  the  year,  £241,237 was  advanced  to  the  directors,  and  £241,076 was repaid by the directors. At 31 March 2024, the balance owed by the directors was £161.

Other related party transactions

Estate of S V Gaskell

The Estate holds 100% of the company's share capital.

At  1 April 2024,  the  balance  owed by the Estate was  £129,054.  During  the  year,  £84,472 was  advanced  to  the  Estate,  and  £129,553 was repaid by the Estate. At 31 March 2025, the balance owed by the Estate was £82,011. 

At  1 April 2023,  the  balance  owed by the Estate was  £302,137.  During  the  year,  £146,917 was  advanced  to  the  Estate,  and  £320,000 was repaid by the Estate. At 31 March 2024, the balance owed by the Estate was £129,054.