REGISTERED NUMBER: 07205246 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 March 2025

for

Alan Snow Agricultural Engineers Ltd

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Income and Retained Earnings

9

Statement of Financial Position

10

Statement of Cash Flows

11

Notes to the Financial Statements

12

DIRECTORS:

Mr R A Snow

Mrs D M Snow

Mrs R J Hale

REGISTERED OFFICE:

69 High Street

Bideford

Devon

EX39 2AT

REGISTERED NUMBER:

07205246 (England and Wales)

SENIOR STATUTORY AUDITOR:

Edward Meardon FCA

AUDITORS:

Sumer Auditco Ltd

Statutory Auditors

69 High Street

Bideford

Devon

EX39 2AT

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

REVIEW OF BUSINESS

The directors consider these accounts, although turnover and profits down on previous years, to be reasonable and as expected.

We suffered from serious supply problems from most of our suppliers coupled with unprecedented price increases causing a significant drop in sales of tractors and machinery.

The service and parts sales business have remained strong and although having to discount goods slightly more to remain competitive have returned good margins and extra staff recruited to cope with the demand.

We are seeing a slightly better performance in the current year due to a restructuring of suppliers pricing and only limited supply problems.

The net shareholders value has risen by £357,842 to £6,547,212 over the year.

RESULTS

The results for the year are set out in the statement of comprehensive income on page 9.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors consider the main risks to the business not to have changed from previous years and will continue with current policies and procedures that have served the business well in their management.

The effects of the Covid-19 pandemic, Brexit and the war in Ukraine on the Agricultural sector has been minimal and business has remained buoyant, although challenging, with the knock on effect that has contributed in delays in supply chains.

Strong results and cash flow over recent years has enabled the company to invest in stock in order to minimise the disruption from supply chain delays and price increases.

The increase in interest rates and costs are also having an impact on the company's customers and the directors are anticipating a reduction in trade in the near future, however the company is in a strong position financially to deal with a reduction in demand.

The directors are not aware of any significant risks or uncertainties which would cast significant doubt about the ability of the company to continue as a going concern.

FUTURE DEVELOPMENTS

The company continues to look for opportunities for further expansion in order to secure the long term sustainability and future of the business.

SIGNED ON BEHALF OF THE BOARD:

Mrs D M Snow - Director

23 December 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the sale of agricultural machinery and parts.

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.

Mr R A Snow

Mrs D M Snow

Mrs R J Hale

DISCLOSURE IN THE STRATEGIC REPORT

Particulars of the financial risk management objectives and policies of the company and future developments are set out in the strategic report.

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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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.

SIGNED ON BEHALF OF THE BOARD:

Mrs D M Snow - Director

23 December 2025

Opinion

We have audited the financial statements of Alan Snow Agricultural Engineers Ltd (the 'company') for the year ended 31 March 2025 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, Statement of Cash Flows 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. As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit.

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

As part of designing our audit, we determined materiality and assessed the risks of material misstatement in the financial statements, including how fraud may occur by enquiring of management of its own consideration of fraud. We also considered potential financial or other pressures, opportunity and motivations for fraud. As part of this discussion we identified the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations and how management monitor these processes. In common with all audits under UK ISAs we are also required to perform specific procedures to respond to the threat of management override. This work included testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to these laws and regulations, including fraud.

We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, the Health and Safety Act, UK Companies Act and UK tax legislation.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators and the Company's legal advisors.

We did not identify any key audit matters relating to irregularities, including fraud.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that 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, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed 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 are to become aware of it.

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.

Edward Meardon FCA (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Ltd

Statutory Auditors

69 High Street

Bideford

Devon

EX39 2AT

23 December 2025

TURNOVER

4

13,575,728

14,624,595

Cost of sales

12,841,679

13,668,799

GROSS PROFIT

734,049

955,796

Administrative expenses

329,023

306,759

OPERATING PROFIT

7

405,026

649,037

Interest receivable and similar income

83,951

21,714

488,977

670,751

Interest payable and similar expenses

9

79

14,420

PROFIT BEFORE TAXATION

488,898

656,331

Tax on profit

10

131,056

170,965

PROFIT FOR THE FINANCIAL YEAR

357,842

485,366

Retained earnings at beginning of year

6,189,367

5,704,001

RETAINED EARNINGS AT END OF YEAR

6,547,209

6,189,367

FIXED ASSETS

Intangible assets

11

125,000

150,000

Tangible assets

12

811,389

842,577

936,389

992,577

CURRENT ASSETS

Stocks

13

6,667,258

5,517,026

Debtors

14

2,028,843

2,061,768

Cash at bank and in hand

1,279,086

1,129,723

9,975,187

8,708,517

CREDITORS

Amounts falling due within one year

15

4,277,227

3,419,472

NET CURRENT ASSETS

5,697,960

5,289,045

TOTAL ASSETS LESS CURRENT LIABILITIES

6,634,349

6,281,622

PROVISIONS FOR LIABILITIES

16

87,137

92,252

NET ASSETS

6,547,212

6,189,370

CAPITAL AND RESERVES

Called up share capital

17

3

3

Retained earnings

18

6,547,209

6,189,367

SHAREHOLDERS' FUNDS

6,547,212

6,189,370

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:

Mrs D M Snow - Director

Cash flows from operating activities

Cash generated from operations

21

273,989

541,388

Interest paid

(2,963

)

(11,536

)

Tax paid

(171,244

)

(194,477

)

Net cash from operating activities

99,782

335,375

Cash flows from investing activities

Purchase of tangible fixed assets

(47,970

)

(73,209

)

Sale of tangible fixed assets

13,600

-

Interest received

83,951

21,714

Net cash from investing activities

49,581

(51,495

)

Cash flows from financing activities

Amount introduced by directors

-

20,536

Amount withdrawn by directors

-

(100,000

)

Net cash from financing activities

-

(79,464

)

Increase in cash and cash equivalents

149,363

204,416

Cash and cash equivalents at beginning of year

22

1,129,723

925,307

Cash and cash equivalents at end of year

22

1,279,086

1,129,723

1.	STATUTORY INFORMATION

Alan Snow Agricultural Engineers Ltd 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 presentation currency of the financial statements 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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Significant judgements and estimates

In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. As a result of the judgements made actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Estimated useful life of fixed assets

In determining the estimated useful life the company considers the expected usage (capacity or physical output) of the asset, expected physical wear and tear of the asset and expected technical advancements in the industry that could lead to obsolescence of the asset. Each year the company reviews the above to establish if there is any change in expected useful life of tangible assets.The depreciation charge for the year ended 31 March 2025 was £104,158 (2024 - £88,509).

Stock provision

Where estimated selling price less costs to complete and sell is lower than cost, a stock provision will be recorded. The estimated selling price is determined with reference to market values.The stock provisions at 31 March 2025 totalled £285,960 (2024 - £99,167).

Provision for doubtful debts

Where estimated amounts receivable is less than the value of the debt included in the accounts, a provision for doubtful debts will be recorded. The total provision for bad debts at 31 March 2025 was £10,999 (2024 - £6,716).

Provision for warranty due

Where warranty work was completed and claimed more than three months prior to the year end, the company consider the amount due to be irrecoverable. The total provision for irrecoverable warranty work at 31 March 2025 was £20,677 (2024 - £2,537).

Turnover

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

Goodwill

Goodwill representing the excess of the purchase price over the fair value of the net assets of undertakings acquired is capitalised in the balance sheet and is amortised by equal annual instalments over the expected useful economic life of 20 years.

Tangible fixed assets

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

Freehold property

-

2% straight line

Improvements to property

-

10% straight line

Plant and machinery

-

20% straight line

Fixtures and fittings

-

33% straight line

Motor vehicles

-

25% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Stocks

Stocks and work in progress are valued at the lower of cost and selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

Having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the directors consider that it is appropriate to prepare the financial statements on the going concern basis.

Hire purchase and leasing commitments

Rentals under operating leases are charged to the profit and loss account as they fall due.

4.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2025

2024

£

£

Machinery sales

10,336,107

11,595,008

Parts and servicing

3,239,621

3,029,587

13,575,728

14,624,595

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

13,347,228

13,938,785

Europe

228,500

685,810

13,575,728

14,624,595

5.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

1,085,474

1,027,353

Social security costs

100,427

85,236

Other pension costs

20,127

19,420

1,206,028

1,132,009

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

2025

2024

Production

21

22

Office, sales and management

10

9

31

31

6.	DIRECTORS' EMOLUMENTS

2025

2024

£

£

Directors' remuneration

12,055

33,208

7.	OPERATING PROFIT

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

2025

2024

£

£

Depreciation - owned assets

79,158

63,509

Profit on disposal of fixed assets

(13,600

)

-

Goodwill amortisation

25,000

25,000

8.	AUDITORS' REMUNERATION

2025

2024

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

12,000

9,900

9.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Interest payable

79

14,420

10.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

136,171

171,244

Deferred tax

(5,115

)

(279

)

Tax on profit

131,056

170,965

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

Profit before tax

488,898

656,331

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

122,225

164,083

Effects of:

tax purposes

Amortisation of goodwill

6,250

6,250

Depreciation of freehold property

1,686

(264

)

Depreciation of improvements to property

895

896

Total tax charge

131,056

170,965

11.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

500,000

AMORTISATION

At 1 April 2024

350,000

Amortisation for year

25,000

At 31 March 2025

375,000

NET BOOK VALUE

At 31 March 2025

125,000

At 31 March 2024

150,000

12.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 April 2024

766,616

65,128

33,342

Additions

-

-

-

Disposals

-

-

-

At 31 March 2025

766,616

65,128

33,342

DEPRECIATION

At 1 April 2024

50,936

33,021

33,342

Charge for year

12,734

4,922

-

Eliminated on disposal

-

-

-

At 31 March 2025

63,670

37,943

33,342

NET BOOK VALUE

At 31 March 2025

702,946

27,185

-

At 31 March 2024

715,680

32,107

-

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2024

4,448

335,469

1,205,003

Additions

1,253

46,717

47,970

Disposals

-

(34,950

)

(34,950

)

At 31 March 2025

5,701

347,236

1,218,023

DEPRECIATION

At 1 April 2024

3,942

241,185

362,426

Charge for year

869

60,633

79,158

Eliminated on disposal

-

(34,950

)

(34,950

)

At 31 March 2025

4,811

266,868

406,634

NET BOOK VALUE

At 31 March 2025

890

80,368

811,389

At 31 March 2024

506

94,284

842,577

Included in cost of land and buildings is freehold land of £ 130,000 (2024 - £ 130,000 ) which is not depreciated.