REGISTERED NUMBER: 04018781

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 March 2025

for

Allen (Hanford) Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Income Statement

7

Other Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Cash Flow Statement

11

Notes to the Financial Statements

12

DIRECTORS:

C T Allen

G W Allen

M M Strainge

T C Allen

E W Allen

Mrs C J Hawson

SECRETARY:

G W Allen

REGISTERED OFFICE:

Carrimers Farm Office

Carrimers Farm

Aston Tirrold

Didcot

Oxfordshire

OX11 9DP

REGISTERED NUMBER:

04018781

The directors present their strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS

The company's results for the year are in line with the directors expectations and show a pre tax profit of £100,745 (2024 - £678,351) for the year and sales of £11,777,595 (2024 - £11,735,996). At the year end the company had gross assets of £17,647,146 (2024 - £18,081,823).

The company uses gross profit margin to measure itself against the industry and against previous performance. The company's gross profit margin had fallen to 24% in the year ended 31 March 2025 from 26% in the year ended 31 March 2024. This was expected as margins in the pig industry have generally decreased during the year.

The company uses the liquidity ratio (current assets : current liabilities) as a measure of liquidity. The ratio is 0.46:1 at 31 March 2025 compared to 0.51:1 at 31 March 2024.

The directors have continued to invest in the livestock production facilities during the year and are confident that this will provide significant efficiencies and growth in the future.

PRINCIPAL RISKS AND UNCERTAINTIES

The management of the business and the execution of the company's strategy are subject to a number of risks.

The key business risk and uncertainty affecting the company is considered to be the fluctuation in livestock selling prices, as they are outside the control of the company. The directors consider that the company has sufficient reserves and assets to ride the waves of the market.

The company's financial instruments comprise overdraft facilities and mortgages. The main purpose of these financial instruments is to raise adequate finance for the company's operations.

The main risks arising from the company's financial instruments are interest rate fluctuations and liquidity risk. It is the company's policy to finance its operations through a mixture of long and short term borrowings and to review periodically the mix of these instruments with regard to the projected cash flow requirements of the company and an acceptable level of risk exposure.

FUTURE OUTLOOK

The directors are confident that the continued investment in the company's facilities will allow them to continue to be profitable given the current market conditions.

ON BEHALF OF THE BOARD:

G W Allen - Secretary

23 December 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

C T Allen

G W Allen

M M Strainge

T C Allen

E W Allen

Mrs C J Hawson

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

G W Allen - Secretary

23 December 2025

Opinion

We have audited the financial statements of Allen (Hanford) Limited (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to health and safety, anti-bribery, employment law and company legislation, and we

considered the extent to which non-compliance might have a material effect on the financial statements of the

Company. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and taxation legislation. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure, and management bias in accounting estimates and judgemental areas of the financial statements. Audit procedures performed by the audit engagement team included:

-

Discussions with management, including consideration of known or suspected instances of non-compliance

with laws and regulations and fraud;

-

Understanding of management’s internal controls designed to prevent and detect irregularities, and fraud;

-

Reviewing the Company’s legal costs to check for non-compliance with laws and regulations and fraud;

-

Reviewing Board of Directors minutes;

-

Review of tax compliance with the involvement of our tax specialists in the audit;

-

Designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing of

expenses;

-

Testing transactions entered into outside of the normal course of the Company’s business; and

-

Identifying and testing journal entries, in particular any journal entries with fraud characteristics such as journals

with round numbers.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with

laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

David Black (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Limited

Statutory Auditors

Hermes House

Fire Fly Avenue

Swindon

Wiltshire

SN2 2GA

23 December 2025

TURNOVER

11,777,595

11,735,996

Cost of sales

8,941,237

8,631,412

GROSS PROFIT

2,836,358

3,104,584

Administrative expenses

2,860,216

2,921,800

(23,858

)

182,784

Other operating income

333,873

318,032

OPERATING PROFIT

5

310,015

500,816

Exceptional items

6

-

386,283

310,015

887,099

Income from fixed asset investments

1,111

684

311,126

887,783

Interest payable and similar expenses

7

210,381

209,432

PROFIT BEFORE TAXATION

100,745

678,351

Tax on profit

8

83,742

(114,504

)

PROFIT FOR THE FINANCIAL YEAR

17,003

792,855

PROFIT FOR THE YEAR

17,003

792,855

OTHER COMPREHENSIVE INCOME

Exceptional items

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

17,003

792,855

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

14,108,175

14,396,170

Investments

11

1

1

14,108,176

14,396,171

CURRENT ASSETS

Stocks

12

2,728,115

3,142,605

Debtors

13

753,682

543,048

Cash at bank

57,173

-

3,538,970

3,685,653

CREDITORS

Amounts falling due within one year

14

1,625,843

1,990,996

NET CURRENT ASSETS

1,913,127

1,694,657

TOTAL ASSETS LESS CURRENT LIABILITIES

16,021,303

16,090,828

CREDITORS

Amounts falling due after more than one year

15

(3,363,993

)

(3,534,263

)

PROVISIONS FOR LIABILITIES

20

(587,339

)

(503,597

)

NET ASSETS

12,069,971

12,052,968

CAPITAL AND RESERVES

Called up share capital

21

9,000

9,000

Revaluation reserve

22

6,991,623

7,031,123

Retained earnings

22

5,069,348

5,012,845

SHAREHOLDERS' FUNDS

12,069,971

12,052,968

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

C T Allen - Director

G W Allen - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2023

9,000

4,180,490

7,070,623

11,260,113

Changes in equity

Total comprehensive income

-

832,355

(39,500

)

792,855

Balance at 31 March 2024

9,000

5,012,845

7,031,123

12,052,968

Changes in equity

Total comprehensive income

-

56,503

(39,500

)

17,003

Balance at 31 March 2025

9,000

5,069,348

6,991,623

12,069,971

Cash flows from operating activities

Cash generated from operations

24

1,498,583

1,299,790

Interest paid

(210,381

)

(209,432

)

Finance lease

-

(231,000

)

Tax paid

50,208

(840

)

Net cash from operating activities

1,338,410

858,518

Cash flows from investing activities

Purchase of tangible fixed assets

(975,526

)

(580,697

)

Sale of tangible fixed assets

599,621

-

Dividends received

1,111

684

Net cash from investing activities

(374,794

)

(580,013

)

Cash flows from financing activities

Capital repayments in year

(116,937

)

(266,078

)

Net cash from financing activities

(116,937

)

(266,078

)

Increase in cash and cash equivalents

846,679

12,427

Cash and cash equivalents at beginning of year

25

(789,506

)

(801,933

)

Cash and cash equivalents at end of year

25

57,173

(789,506

)

1.	STATUTORY INFORMATION

Allen (Hanford) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentational and functional currency of the company is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with 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 as modified by the revaluation of certain assets.

Revenue recognition

i) Turnover is measured at the fair value of the consideration received or receivable. Turnover is net of value added taxes. Turnover includes revenue earned from the sale of pigs and crops.

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the company has transferred to the buyer the significant risks and rewards of ownership of the goods;

- the company retains neither continuing managerial involvement to the degree associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the economic benefits associated with the transaction can be measured reliably.

ii) Other income, including Basic Payment Scheme income, rental and contracting income are measured at the fair value of the consideration received or receivable and is net of value added taxes.

iii) Dividend income is recognised when the right to receive payment is established.

Government grants

Receipts in respect of the Basic Payment (Rural Payments Agency subsidy) are included within other income and are recognised based on the accruals model. They are measured at the fair value of the asset received or receivable. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset.

Intangible assets

The Basic Payment Entitlement, which entitles the company to future government grants from the land, was purchased with land and initially recognised at cost under the cost model. The asset is being amortised at a rate of 20% per annum on a straight line basis in order to write it off over the 5 year life of the entitlement.

Tangible fixed assets

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price and costs directly attributable to bringing the asset to its working condition for its intended use. Depreciation is provided at the following annual rates in order to write off each asset over it's useful life, or if held under a finance lease, over the lease term, whichever is shorter.

Freehold land

- Not depreciated

Freehold residential cottages

- 40 years on straight line basis

Freehold agricultural buildings

- 40 years on straight line basis

Property improvements

- 10 years on straight line basis

Plant, machinery & motor

- 15% and 25% on reducing balance

vehicles

Office Equipment

-15% reducing balance

In 2013 the company revalued its freehold land and property to its market value of £13,615,884. This generated a revaluation reserve. On transition to FRS102 the company chose to carry freehold land and property at deemed cost and depreciate the property over its useful economic life.

Stocks

i) Livestock - the company's livestock consists of pigs which are carried as trading stock. Livestock is valued under HS232 which is not considered to be materially different to being stated at the lower of cost and estimated selling price less costs to complete and sell. The costs relating to the production of the livestock are recognised as an expense in the period in which the related revenue is recognised. Cost includes the production costs, including taxes and duties and transport and handling directly attributable to bringing the livestock to its present location and condition.

ii) Other stock - other stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Stock is recognised as an expense in the period in which the related revenue is recognised. Cost includes the purchase price, including taxes and duties and transport and handling directly attributable to bringing the stock to its present location and condition.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 that have been enacted or substantively enacted by the balance sheet date.

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.

Hire purchase and leasing commitments

Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the profit and loss account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals 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. Benefits received and receivable as an incentive to sign and operating lease are similarly spread on a straight-line basis over the lease term.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Financial instruments

i) 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.

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

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Impairment of non-financial assets

Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

For all other financial assets, objective evidence of impairment could include:

- significant financial difficulty of the issuer or counterparty; or

- breach of contract, such as a default or delinquency in interest or principal payments; or

- it becoming probable that the borrower will enter bankruptcy or financial re-organisation; or

- the disappearance of an active market for that financial asset because of financial difficulties.

For certain categories of financial asset, such as trade receivables, assets that are assessed not to be impaired individually are, in addition, assessed for impairment on a collective basis. Objective evidence of impairment for a portfolio of receivables could include the business's past experience of collecting payments, an increase in the number of delayed payments in the portfolio past the average credit period of 30 days, as well as observable changes in national or local economic conditions that correlate with default on receivables.

For financial assets carried at amortised cost, the amount of the impairment loss recognised is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost, the amount of the impairment loss is measured as the difference between the asset's carrying amount and the present value of the estimated future cash flows discounted at the current market rate of return for a similar financial asset. Such impairment loss will not be reversed in subsequent periods.

The carrying amount of the financial asset is reduced by the impairment loss directly for all financial assets with the exception of trade receivables, where the carrying amount is reduced through the use of an allowance account. When a trade receivable is considered uncollectible, it is written off against the allowance account. Subsequent recoveries of amounts previously written off are credited against the allowance account. Changes in the carrying amount of the allowance account are recognised in profit or loss.

For financial assets measured at amortised cost, if, in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognised, the previously recognised impairment loss is reversed through profit or loss to the extent that the carrying amount of the investment at the date the impairment is reversed does not exceed what the amortised cost would have been had the impairment not been recognised.

Related parties

For the purposes of these financial statements, a party is considered to be related to the Company if:

(i) the party has the ability, directly or indirectly, through one or more intermediaries, to control the Company or exercise significant influence over the Company in making financial and operating policy decisions, or has joint control over the Company

(ii) the Company and the party are subject to common control;

(iii) the party is an associate of the company or a joint venture in which the company is a venturer;

(iv) the party is a member of key management personnel of the Company or the Company's parent, or a close family member of such an individual, or is an entity under the control, joint control or significant influence of such individuals;

(v) the party is a close family member of a party referred to in (i) or is an entity under the control, joint control or significant influence of such individuals; or

(vi) the party is a post-employment benefit plan which is for the benefit of employees of the Company or of any entity that is a related party of the Company.

Close family members of an individual are those family members who may be expected to influence, or be influenced by, that individual in their dealings with the entity.

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred..

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

1,786,577

1,687,843

Social security costs

126,675

113,059

Other pension costs

33,380

27,709

1,946,632

1,828,611

The average number of employees during the year was as follows:

2025

2024

Farming

42

41

The company operates a defined contribution pension scheme, the assets of which are held separately from those of the company. During the period the company made pension contributions totalling £33,380 (2024 - £27,709). There were no outstanding or prepaid amounts at 31 March 2025 or 31 March 2024.

2025

2024

£

£

Directors' remuneration

108,750

105,500

Directors' pension contributions to money purchase schemes

1,759

1,678

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

4

4

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2025

2024

£

£

Depreciation - owned assets

626,905

675,500

Depreciation - assets on hire purchase contracts

100,375

57,250

(Profit)/loss on disposal of fixed assets

(63,380

)

34

Auditors' remuneration

21,597

21,498

Operating expenses

88,411

92,361

6.	EXCEPTIONAL ITEMS

2025

2024

£

£

Exceptional items

-

386,283

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

27,493

27,549

Loan interest

182,888

181,883

210,381

209,432

8.

TAXATION

Analysis of the tax charge/(credit)

The tax charge/(credit) on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

-

(50,208

)

Deferred tax

83,742

(64,296

)

Tax on profit

83,742

(114,504

)

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 31 March 2025.

2024

Gross

Tax

Net

£

£

£

Exceptional items

9.	INTANGIBLE FIXED ASSETS

Farm

payment

entitlement

£

COST

At 1 April 2024

and 31 March 2025

41,000

AMORTISATION

At 1 April 2024

and 31 March 2025

41,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

10.	TANGIBLE FIXED ASSETS

Freehold

land and

Property

Plant and

buildings

improvements

machinery

£

£

£

COST OR VALUATION

At 1 April 2024

12,474,005

959,114

9,145,261

Additions

-

-

474,226

Disposals

-

-

(574,225

)

Transfer to ownership

-

-

-

At 31 March 2025

12,474,005

959,114

9,045,262

DEPRECIATION

At 1 April 2024

898,004

715,541

7,179,042

Charge for year

109,085

43,117

315,375

Eliminated on disposal

-

-

(110,004

)

Transfer to ownership

-

-

-

At 31 March 2025

1,007,089

758,658

7,384,413

NET BOOK VALUE

At 31 March 2025

11,466,916

200,456

1,660,849

At 31 March 2024

11,576,001

243,573

1,966,219

Motor

Office

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 1 April 2024

2,479,093

5,359

25,062,832

Additions

501,300

-

975,526

Disposals

(289,000

)

-

(863,225

)

Transfer to ownership

210,500

-

210,500

At 31 March 2025

2,901,893

5,359

25,385,633

DEPRECIATION

At 1 April 2024

1,870,835

3,240

10,666,662

Charge for year

259,385

318

727,280

Eliminated on disposal

(216,980

)

-

(326,984

)

Transfer to ownership

210,500

-

210,500

At 31 March 2025

2,123,740

3,558

11,277,458

NET BOOK VALUE

At 31 March 2025

778,153

1,801

14,108,175

At 31 March 2024

608,258

2,119

14,396,170

Included in cost or valuation of land and buildings is freehold land of £ 8,171,021 (2024 - £ 8,171,021 ) which is not depreciated.

Cost or valuation at 31 March 2025 is represented by:

Freehold

land and

Property

Plant and

buildings

improvements

machinery

£

£

£

Valuation in 2022

12,474,005

959,114

9,045,262