REGISTERED NUMBER: 02284848 (England and Wales)

MARK CAUDWELL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

M L Caudwell

Mrs M T Caudwell

Mrs E F Huddart

H C A Huddart

SECRETARY:

M L Caudwell

REGISTERED OFFICE:

Lowick Hall Farm

6 Main Street

Lowick

Berwick-upon-Tweed

Northumberland

TD15 2UA

REGISTERED NUMBER:

02284848 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

5 Resolution Close

Endeavour Park

Boston

Lincolnshire

PE21 7TT

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

17,157,072

4,620,472

Investments

6

300

-

Investment property

7

1,150,000

1,400,000

18,307,372

6,020,472

CURRENT ASSETS

Valuation

874,117

701,095

Debtors

8

273,463

338,798

Cash at bank and in hand

1,448,637

4,384,997

2,596,217

5,424,890

CREDITORS

Amounts falling due within one year

9

7,417,855

282,251

NET CURRENT (LIABILITIES)/ASSETS

(4,821,638

)

5,142,639

TOTAL ASSETS LESS CURRENT LIABILITIES

13,485,734

11,163,111

CREDITORS

Amounts falling due after more than one year

10

-

(629

)

PROVISIONS FOR LIABILITIES

(907,330

)

(364,851

)

NET ASSETS

12,578,404

10,797,631

CAPITAL AND RESERVES

Called up share capital

12

100

100

Fair value reserve

13

530,041

614,455

Other reserves

13

1,830,682

1,830,682

Retained earnings

13

10,217,581

8,352,394

SHAREHOLDERS' FUNDS

12,578,404

10,797,631

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 Income Statement 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:

M L Caudwell - Director

Mrs M T Caudwell - Director

Mrs E F Huddart - Director

H C A Huddart - Director

1.	STATUTORY INFORMATION

Mark Caudwell 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 presentation currency of the financial statements is the Pound Sterling (£).

The company's place of business for these financial statements was Howlett House Farm, Hogsthorpe, Skegness, Lincolnshire, PE24 5NS.

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced sales of farm crops, excluding value added tax, revenue is recognised upon despatch of the crops.

Basic payment scheme entitlements

Intangible assets consist of entitlements to the Basic Payment Scheme. The entitlements are recognised at fair value and written off on a straight line basis over the period to 31 December 2019.

Tangible fixed assets

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

Land and buildings

-

2% on cost, 1% on cost and not provided

Plant and machinery etc

-

20% on cost and 12.5% on reducing balance

Tangible assets are held at cost less depreciation.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Valuation

The valuation has been prepared by independent valuers at the lower of cost and estimated selling price less costs to sell.

Biological assets, living plants are included at the lower of cost and estimated selling price less costs to sell..

Financial instruments

The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 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.

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.

Investments

Fixed asset investments are stated at cost less provision for any permanent diminution in value.

Government grants

Government grants, including the basic payment scheme, delinked payments and sustainable farming incentive, are recognised in the financial statements in accordance with current H M Revenue & Customs guidance.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

196,990

Disposals

(196,990

)

At 31 March 2025

-

AMORTISATION

At 1 April 2024

196,990

Eliminated on disposal

(196,990

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

4,450,887

1,685,323

6,136,210

Additions

13,148,562

97,250

13,245,812

Disposals

(649,575

)

(14,872

)

(664,447

)

At 31 March 2025

16,949,874

1,767,701

18,717,575

DEPRECIATION

At 1 April 2024

309,067

1,206,671

1,515,738

Charge for year

5,870

107,282

113,152

Eliminated on disposal

(55,494

)

(12,893

)

(68,387

)

At 31 March 2025

259,443

1,301,060

1,560,503

NET BOOK VALUE

At 31 March 2025

16,690,431

466,641

17,157,072

At 31 March 2024

4,141,820

478,652

4,620,472

Included in cost of land and buildings is freehold land of £ 13,448,404 (2024 - £ 3,483,597 ) which is not depreciated.

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

300

At 31 March 2025

300

NET BOOK VALUE

At 31 March 2025

300

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

1,400,000

Disposals

(250,000

)

At 31 March 2025

1,150,000

NET BOOK VALUE

At 31 March 2025

1,150,000

At 31 March 2024

1,400,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2022

1,150,000

1,150.000

If investment property had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

494,532

657,637

Investment property has been valued by the directors, based on their assessment and guidance from professional valuers.

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

104,826

180,956

Other debtors

168,637

157,842

273,463

338,798

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

7,200,000

-

Trade creditors

175,158

101,488

Taxation and social security

10,071

166,212

Other creditors

32,626

14,551

7,417,855

282,251

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

-

629

11.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

7,200,000

-

The bank loan is secured on land and buildings owned by the company.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

100

100

100

13.

RESERVES

Fair

Retained

value

Other

earnings

reserve

reserves

Totals

£

£

£

£

At 1 April 2024

8,352,394

614,455

1,830,682

10,797,531

Profit for the year

1,780,773

-

-

1,780,773

Movement of fair value, net of deferred tax

84,414

(84,414

)

-

-

At 31 March 2025

10,217,581

530,041

1,830,682

12,578,304

14.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, two directors were advanced £324 (2024 - £nil), repaid £nil (2024 - £nil) and at the year end owed £324 (2024 - £nil).

The loans made to the directors are unsecured, interest free and repayable on demand.

15.	POST BALANCE SHEET EVENTS

Subsequent to the balance sheet date, the company sold Howlett House Farm. Gross proceeds are estimated at £9,091,642 and there is a carrying value of £4,368,819 in these financial statements. A replacement farm was purchased in the period reported in these financial statements and there is therefore no material impact expected on the farming operations. This event is considered a non-adjusting post-balance sheet event as the conditions of the sale did not exist at the year-end. The directors believe this information is material for the users of the financial statements to fully understand the company's future financial position.