Nicholaston Farm Ltd

	Page
Company Information	1
Accountants' Report	2
Balance Sheet	3—4
Notes to the Financial Statements	5—8

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Accountants' Report

For The Year Ended 31 March 2025

Accountants' Report

Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of Nicholaston Farm Ltd for the year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Nicholaston Farm Ltd for the year ended 31 March 2025 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the directors of Nicholaston Farm Ltd , as a body, in accordance with the terms of our engagement letter dated 12 December 2024. Our work has been undertaken solely to prepare for your approval the accounts of Nicholaston Farm Ltd and state those matters that we have agreed to state to the directors of Nicholaston Farm Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nicholaston Farm Ltd and its directors, as a body, for our work or for this report.

It is your duty to ensure that Nicholaston Farm Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Nicholaston Farm Ltd . You consider that Nicholaston Farm Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of Nicholaston Farm Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

23/12/2025

John F Harvey Chartered Accountants

Dynevor House

5-6 De La Beche Street

Swansea

SA1 3HA

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Nicholaston Farm Ltd

Balance Sheet

As At 31 March 2025

Balance Sheet

Registered number: 09485293

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		349,596		232,880

			349,596		232,880
CURRENT ASSETS
Stocks	5	17,000		19,000
Debtors	6	30,401		16,354
Cash at bank and in hand		97,510		186,593

		144,911		221,947
Creditors: Amounts Falling Due Within One Year	7	(167,719 )		(170,542 )

NET CURRENT ASSETS (LIABILITIES)			(22,808 )		51,405

TOTAL ASSETS LESS CURRENT LIABILITIES			326,788		284,285

PROVISIONS FOR LIABILITIES
Deferred Taxation	9		(63,393 )		(40,152 )

NET ASSETS			263,395		244,133

CAPITAL AND RESERVES
Called up share capital	10		2		2
Profit and Loss Account			263,393		244,131

SHAREHOLDERS' FUNDS			263,395		244,133

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Nicholaston Farm Ltd

Balance Sheet (continued)

As At 31 March 2025

For the 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.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

T T Beynon

Director

23/12/2025

The notes on pages 5 to 8 form part of these financial statements.

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Nicholaston Farm Ltd

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

Nicholaston Farm Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09485293 . The registered office is Nicholaston Farm, Penmaen, Swansea, SA3 2HL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Improvements	10%
Plant & Machinery	15%
Motor Vehicles	25%

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

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

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Nicholaston Farm Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

Pension costs relate to the employer's element of pension obligations due under auto enroment and are charged to the profit and loss account in the period which they relate.

Directors' pensions relate to the employers element of pension obligations due under auto enrolement as well as additional contributions and are charges to the profit and loss account in the period to which they relate.

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Nicholaston Farm Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: 9 (2024: 12)

4. Tangible Assets

	Land & Property
	Improvements	Plant & Machinery	Motor Vehicles	Total
	£	£	£	£
Cost
As at 1 April 2024	271,303	576,376	18,334	866,013
Additions	123,670	76,887	42,448	243,005
Disposals	(2,959 )	(71,326 )	-	(74,285 )

As at 31 March 2025	392,014	581,937	60,782	1,034,733

Depreciation
As at 1 April 2024	233,131	385,329	14,673	633,133
Provided during the period	39,202	57,653	14,271	111,126
Disposals	(2,639 )	(56,483 )	-	(59,122 )

As at 31 March 2025	269,694	386,499	28,944	685,137

Net Book Value
As at 31 March 2025	122,320	195,438	31,838	349,596

As at 1 April 2024	38,172	191,047	3,661	232,880

5. Stocks

	2025	2024
	£	£
Stock	17,000	19,000

6. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	30,401	16,354

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Nicholaston Farm Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	7,917
Trade creditors	25,104	10,335
Other creditors	115,328	110,552
Taxation and social security	27,287	41,738

	167,719	170,542

8. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	-	7,917

9. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	63,393	40,152

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

11. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mr Thomas Beynon	12,766	-	5,877	-	6,889

The above loan is unsecured, interest free and repayable on demand.

12. Dividends

	2025	2024
	£	£
On equity shares:
Interim dividend paid	32,477	35,000

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Directors	T T Beynon
	L J Shine

Company Number	09485293

Registered Office	Nicholaston Farm
	Penmaen
	Swansea
	SA3 2HL

Accountants	John F Harvey Chartered Accountants
	Dynevor House
	5-6 De La Beche Street
	Swansea
	SA1 3HA