REGISTERED NUMBER: 03335506 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Crofty Growers Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R E J Williams

SECRETARY:

R E J Williams

REGISTERED OFFICE:

Ty Pengam

Llanvair Kilgeddin

Abergavenny

Monmouthshire

NP7 9DT

REGISTERED NUMBER:

03335506 (England and Wales)

ACCOUNTANTS:

Guilfoyle Sage LLP

21 Gold Tops

Newport

South Wales

NP20 4PG

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

1,754,717

2,004,159

Investments

7

2,379,961

-

4,134,678

2,004,159

CURRENT ASSETS

Stocks

126,103

19,380

Debtors

8

124,280

141,456

Cash at bank and in hand

478,023

1,958,578

728,406

2,119,414

CREDITORS

Amounts falling due within one year

9

2,879,713

2,334,431

NET CURRENT LIABILITIES

(2,151,307

)

(215,017

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,983,371

1,789,142

CREDITORS

Amounts falling due after more than one year

10

(359,016

)

(410,770

)

PROVISIONS FOR LIABILITIES

(41,661

)

(68,284

)

NET ASSETS

1,582,694

1,310,088

CAPITAL AND RESERVES

Called up share capital

12

1

1

Capital redemption reserve

1

1

Retained earnings

1,582,692

1,310,086

SHAREHOLDERS' FUNDS

1,582,694

1,310,088

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 22 December 2025 and were signed by:

R E J Williams - Director

1.	STATUTORY INFORMATION

Crofty Growers Limited is a private company, limited by shares and is incorporated in England and Wales. The company's registered number is 03335506, the address of its registered office is Ty Pengam, Llanvair Kilgeddin, Abergavenny, Monmouthshire, NP7 9DT.

The nature of the company's operations and principal activity is that of poultry farming.

These financial statements are the company's separate financial statements, covering the year to 31 March 2025 and are presented in Sterling (£), the company's functional currency, rounded to the nearest pound.

The accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

2.	STATEMENT OF COMPLIANCE

The individual financial statements of Crofty Growers Limited have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Crofty Growers Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents net invoiced sales of poultry and subsidies, excluding value added tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Single farm payment entitlements are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter:

Plant and machinery etc - 15% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost include costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Non derivative financial instruments

Financial assets and financial liabilities are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument.

Non-derivative financial instruments comprise trade and other debtors, cash and cash equivalents, trade and other creditors and interest free loans.

Debtors and creditors with no stated interest rate are receivable or payable within one year and are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Cash and cash equivalents comprise cash at bank and in hand.

Loans and borrowings and concessionary loans are initially recognised at transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method less impairment. If an arrangement constitutes a finance transaction it is measured at present value. Loans and borrowings receivable within one year are not discounted.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 4 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

1,000

AMORTISATION

At 1 April 2024

and 31 March 2025

1,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

6.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

1,363,473

1,707,744

3,071,217

Additions

-

6,989

6,989

Disposals

(48,132

)

(65,003

)

(113,135

)

At 31 March 2025

1,315,341

1,649,730

2,965,071

DEPRECIATION

At 1 April 2024

168,857

898,201

1,067,058

Charge for year

22,009

126,704

148,713

Eliminated on disposal

-

(5,417

)

(5,417

)

At 31 March 2025

190,866

1,019,488

1,210,354

NET BOOK VALUE

At 31 March 2025

1,124,475

630,242

1,754,717

At 31 March 2024

1,194,616

809,543

2,004,159

The directors consider that there has not been a material change in value of freehold land and buildings since the date of purchase.

7.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

2,379,961

At 31 March 2025

2,379,961

NET BOOK VALUE

At 31 March 2025

2,379,961

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

2,160

97,187

Amounts owed by group undertakings

161

-

Other debtors

121,959

44,269

124,280

141,456

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

65,041

65,041

Trade creditors

146,076

37,158

Amounts owed to associates

1,755,706

-

Taxation and social security

3,813

170,857

Other creditors

909,077

2,061,375

2,879,713

2,334,431

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

359,016

410,770

Amounts falling due in more than five years:

Repayable by instalments

Bank loans over 5 years

98,851

150,605

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

424,057

475,811

The bank loans are a mix of fixed and variable interest, repayable on a quarterly basis within nine years. The loan interest rates being charged are 2.50 % and 2.95% per annum.

The bank loans are secured by fixed and floating charges over the undertaking and all property and assets present and future including goodwill, book debts, uncalled capital, buildings, fixtures and fixed plant and machinery except for the government backed loan.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

1

Ordinary

£1

1

1

13.	CAPITAL COMMITMENTS

31.3.25

31.3.24

£

£

Contracted but not provided for in the

financial statements

13,023

-

14.	RELATED PARTY DISCLOSURES

At the year end, included in creditors is the sum of £898,118 (2024: £2,041,135) owed to key management personnel. Also, included in creditors is the sum of £1,755,706 (2024: £nil) owed to entities under the common control of key management personnel.

There is no fixed repayment date on these loans and no interest has been charged.