Tickenham Court Farm Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00404300 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

TICKENHAM COURT FARM COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T W Forrester

F A Crispi

A R Taylor

Z E McNeil

SECRETARY:

A R Taylor

REGISTERED OFFICE:

The Court

Tickenham

Clevedon

North Somerset

BS21 6SB

REGISTERED NUMBER:

00404300 (England and Wales)

ACCOUNTANTS:

Gravita

Chartered Accountants

Bath House

6 - 8 Bath Street

Bristol

BS1 6HL

FIXED ASSETS

Tangible assets

4

5,963,350

5,962,712

Investment property

5

3,705,000

9,668,350

9,667,712

CURRENT ASSETS

Stocks

1,250

Debtors

6

169,339

151,834

Cash at bank

230,273

354,019

400,862

507,103

CREDITORS

Amounts falling due within one year

7

(86,056

)

(82,297

)

NET CURRENT ASSETS

314,806

424,806

TOTAL ASSETS LESS CURRENT
LIABILITIES

9,983,156

10,092,518

CREDITORS

Amounts falling due after more than one
year

8

(345,912

)

(377,342

)

PROVISIONS FOR LIABILITIES

(1,756,561

)

(1,756,561

)

NET ASSETS

7,880,683

7,958,615

CAPITAL AND RESERVES

Called up share capital

5,000

Revaluation reserve

6,925,593

Retained earnings

950,090

1,028,022

SHAREHOLDERS' FUNDS

7,880,683

7,958,615

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 24 December 2025 and were signed on its behalf by:

A R Taylor - Director

1.	COMPANY INFORMATION

Tickenham Court Farm Company 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 company's principal activities and nature of its operations in the year under review were that of management of farm land and buildings.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements 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" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

The financial statements have been prepared on a going concern basis. The directors have reviewed and considered relevant information including annual budgets and future cash-flows in making their assessment. Based on these assessments, given the measures that could be undertaken, and current resources available, the directors have concluded that they are able to continue to adopt the going concern basis in prepared the annual report and financial statements.

Turnover

Turnover is the amount derived from the provision of goods and services falling within the company's ordinary activities after deducting trade discounts and value added tax. Rental income is recognised as it falls due.

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

Computer equipment

-

25% on cost

Freehold land is not depreciated. Freehold buildings held by the company for its own use have also not been depreciated as the directors believe the residual value of that property to not be significantly different to the book value and that consequently any depreciation would be immaterial.

Government grants

Government grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises the related costs for which the grants are intended to compensate.

Investment property

Investment property is included at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

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

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

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 that have been enacted or substantively enacted by the balance sheet date.

Deferred tax on revalued freehold property is taken directly to the revaluation reserve. Deferred tax on revalued investment properties is taken to the income statement in respect of the revaluation movement in the year, and an appropriate transfer is made to or from the profit and loss reserve to the revaluation reserve to compensate for unrealised gains and losses.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Computer

property

machinery

equipment

Totals

£

COST OR VALUATION

At 1 April 2024

5,957,510

145,679

1,947

6,105,136

Additions

-

1,324

1,080

2,404

At 31 March 2025

5,957,510

147,003

3,027

6,107,540

DEPRECIATION

At 1 April 2024

-

141,787

637

142,424

Charge for year

-

1,158

608

1,766

At 31 March 2025

-

142,945

1,245

144,190

NET BOOK VALUE

At 31 March 2025

5,957,510

4,058

1,782

5,963,350

At 31 March 2024

5,957,510

3,892

1,310

5,962,712

Included in cost or valuation of land and buildings is freehold land of £ 1,300,000 (2024 - £ 1,300,000 ) which is not depreciated.

Cost or valuation at 31 March 2025 is represented by:

Freehold

Plant and

Computer

property

machinery

equipment

Totals

£

Valuation in 1998

1,286,172

-

1,286,172

Valuation in 2009

(51,692

)

-

(51,692

)

Valuation in 2016

1,001,116

-

1,001,116

Valuation in 2017

(300,000

)

-

(300,000

)

Valuation in 2020

3,486,403

-

3,486,403

Cost

535,511

147,003

3,027

685,541

5,957,510

147,003

3,027

6,107,540

If the freehold property had not been revalued it would have been included at the following historical cost:

2025

2024

£

Cost

535,511

Aggregate depreciation

106,448

Value of land in freehold land and buildings

60,973

The freehold property was valued on an open market basis on 31 March 2021 by a firm of Chartered Surveyors .

The valuation of the freehold property was made at 31 March 2021 by a firm of Chartered Surveyors.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

3,705,000

NET BOOK VALUE

At 31 March 2025

3,705,000

At 31 March 2024

3,705,000

The investment properties were valued on the open market basis on 31 March 2025 by the directors.

On an historical cost basis the freehold property would have been included at an original cost of £577,752 (2024: £577,752).

The directors consider there to have been no material movement in the value of the investment properties and in light of the uncertain market conditions will review the current market value once the economic climate is more certain.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

1,985

10,630

Other debtors

95,180

70,292

Directors' current accounts

53,702

49,499

Tax

15,684

15,668

VAT

2,481

5,452

Prepayments

307

293

169,339

151,834

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other loans

30,939

Trade creditors

3,106

9,101

Unpaid pensions

73

Other creditors

7,436

5,821

Directors' current accounts

24,813

24,913

Accruals and deferred income

19,689

11,450

86,056

82,297

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Other loans

345,912

377,342

Included within creditors falling due after more than one year is an amount of £247,549 (2024 - £269,365) in respect of liabilities which fall due for payment after more than five years from the balance sheet date.

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Other loans

376,851

408,281

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

T W Forrester

Balance outstanding at start of year

23,896

23,796

Amounts advanced

640

100

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

24,536

23,896

A R Taylor

Balance outstanding at start of year

25,603

24,442

Amounts advanced

3,564

1,161

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

29,167

25,603

Interest has been charged on the overdrawn balances at the official rate. The directors loans were fully repaid within 9 months of the year end.

11.	RELATED PARTY DISCLOSURES

Expenses of £18,296 (2024 - £13,646) were paid on behalf of Tickenham Gate Commercial Limited, a company under common control. The balance outstanding at the year end owed to the company was £86,314 (2024 - £68,018).