REGISTERED NUMBER: 07184707 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

LYDFORD FARM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D J Garrett

SECRETARY:

Mrs K S Scammell

REGISTERED OFFICE:

32 The Square

Gillingham

Dorset

SP8 4AR

REGISTERED NUMBER:

07184707 (England and Wales)

ACCOUNTANTS:

Andrews and Palmer

Chartered Accountants

32 The Square

Gillingham

Dorset

SP8 4AR

FIXED ASSETS

Investment property

4

1,005,575

1,005,575

CURRENT ASSETS

Cash at bank

613

327

CREDITORS

Amounts falling due within one year

5

36,291

33,209

NET CURRENT LIABILITIES

(35,678

)

(32,882

)

TOTAL ASSETS LESS CURRENT LIABILITIES

969,897

972,693

CREDITORS

Amounts falling due after more than one year

6

(67,821

)

(75,001

)

PROVISIONS FOR LIABILITIES

(156,425

)

(156,425

)

NET ASSETS

745,651

741,267

CAPITAL AND RESERVES

Called up share capital

2,425

2,425

Share premium

240,293

240,293

Non distributable fair value

reserve

8

469,276

469,276

Retained earnings

33,657

29,273

SHAREHOLDERS' FUNDS

745,651

741,267

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 director acknowledges his 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 director and authorised for issue on 20 December 2025 and were signed by:

D J Garrett - Director

1.	STATUTORY INFORMATION

Lydford Farm 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 (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention..

Turnover

Turnover represents the net income from renting agricultural land and buildings, excluding value added tax.

Investment property

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

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

1,005,575

NET BOOK VALUE

At 31 March 2025

1,005,575

At 31 March 2024

1,005,575

Fair value at 31 March 2025 is represented by:

£

Valuation in 2011

221,626

Valuation in 2012

14,000

Valuation in 2013

27,000

Valuation in 2014

19,600

Valuation in 2015

27,000

Valuation in 2019

(40,500

)

Valuation in 2021

356,975

Cost

379,874

1,005,575

If agricultural land & buildings had not been revalued it would have been included at the following historical cost:

31.3.25

31.3.24

£

£

Cost

379,874

379,874

Aggregate depreciation

(32,916

)

(32,916

)

Agricultural land & buildings was valued on an open market basis on 31 March 2021 by the director .

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

7,218

6,343

Tax

1,028

931

Other creditors

930

930

Directors' current accounts

23,330

22,399

Accrued expenses

3,785

2,606

36,291

33,209

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans more than 5 years

by installments

67,821

75,001

67,821

75,001

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

by installments

67,821

75,001

67,821

75,001

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

75,039

81,344

National Westminster Bank Plc hold a first charge over the investment land etc.

8.

RESERVES

Non

distributable

fair

value

reserve

£

At 1 April 2024

and 31 March 2025

469,276