REGISTERED NUMBER: 06165341 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Ludwell Partners Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

607,105

611,883

Investments

6

585,769

(156,824

)

1,192,874

455,059

CURRENT ASSETS

Debtors

7

1,466,883

1,744,769

Cash at bank

29,456

25,239

1,496,339

1,770,008

CREDITORS

Amounts falling due within one year

8

520,753

284,885

NET CURRENT ASSETS

975,586

1,485,123

TOTAL ASSETS LESS CURRENT LIABILITIES

2,168,460

1,940,182

CREDITORS

Amounts falling due after more than one year

9

(155,713

)

(207,280

)

PROVISIONS FOR LIABILITIES

(151,776

)

(152,971

)

NET ASSETS

1,860,971

1,579,931

CAPITAL AND RESERVES

Called up share capital

40

40

Retained earnings

1,860,931

1,579,891

SHAREHOLDERS' FUNDS

1,860,971

1,579,931

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 directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2025 and were signed on its behalf by:

Mr J A Ludwell - Director

Mr M J Ludwell - Director

1.	STATUTORY INFORMATION

Ludwell Partners Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

06165341

Registered office:

East Ash Farm

Bradworthy

Holsworthy

Devon

EX22 7SP

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance, 10% on cost and 4% on cost

Motor vehicles

-

20% on reducing balance

Tractors

-

25% on reducing balance

Financial instruments

Classification

The company holds the following financial instruments:

Short term debtors and creditors;

Cash and bank balances; and

Unlisted investments.

All financial instruments are classified as basic.

Recognition and measurement

The company has elected to apply the provisions FRS102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transition costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Fixed asset investments

Fixed Asset Investments are valued at fair value.

Change of reporting period

The financial year end of the Company was changed from 30 April to 31 March so as to be coterminous with

the tax year to simplify reporting for Making Tax Digital for Income Tax Self Assessment. Accordingly, the

current financial statements are prepared for 11 months from 1 May 2023 to 31 March 2024 and as a result,

the comparative figures stated in the profit and loss account and the related notes are not comparable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

BPS

Entitlements

£

COST

At 1 April 2024

3,094

Disposals

(3,094

)

At 31 March 2025

-

AMORTISATION

At 1 April 2024

3,094

Eliminated on disposal

(3,094

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

As at 31 March 2024, the Company held Basic Payment Scheme (BPS) entitlement which were recognised as an intangible asset on the balance sheet.

During the financial year ended 31 March 2025, it was determined that the BPS entitlements no longer held any economic value due to the cessation of the Basic Payment Scheme. As a result, the entitlements were assessed to have a fair value of zero.

In accordance with FRS 102, the Company has derecognised the BPS entitlements from its balance sheet. The carrying amount of the entitlements as at 1 April 2024 was £nil. Therefore, there is no loss to be recognised in profit and loss account for the year ended 31 March 2025.

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Tractors

Totals

£

£

£

£

COST

At 1 April 2024

1,164,851

12,500

913,500

2,090,851

Additions

117,280

-

109,000

226,280

Disposals

(32,959

)

-

(82,000

)

(114,959

)

At 31 March 2025

1,249,172

12,500

940,500

2,202,172

DEPRECIATION

At 1 April 2024

837,882

11,623

629,463

1,478,968

Charge for year

98,140

175

89,371

187,686

Eliminated on disposal

(25,142

)

-

(46,445

)

(71,587

)

At 31 March 2025

910,880

11,798

672,389

1,595,067

NET BOOK VALUE

At 31 March 2025

338,292

702

268,111

607,105

At 31 March 2024

326,969

877

284,037

611,883

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

(156,824

)

Additions

81,425

Disposals

661,168

At 31 March 2025

585,769

NET BOOK VALUE

At 31 March 2025

585,769

At 31 March 2024

(156,824

)

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

42,667

VAT

12,803

4,144

Accrued income

1,453,030

1,696,960

Prepayments

1,050

998

1,466,883

1,744,769

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

101,306

80,801

Trade creditors

48,665

41,641

Tax

92,834

45,140

Accrued expenses

276,228

115,583

Deferred government grants

1,720

1,720

520,753

284,885

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

155,713

205,560

Deferred government grants

-

1,720

155,713

207,280

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

257,019

286,361

Hire purchase contracts are secured on the assets to which they relate.