REGISTERED NUMBER: 07184807 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

BLACK HORSE FARM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

N D Garrett

SECRETARY:

Mrs D P F Garrett

REGISTERED OFFICE:

32 The Square

Gillingham

Dorset

SP8 4AR

REGISTERED NUMBER:

07184807 (England and Wales)

ACCOUNTANTS:

Andrews and Palmer

Chartered Accountants

32 The Square

Gillingham

Dorset

SP8 4AR

FIXED ASSETS

Tangible assets

4

180

240

Investment property

5

768,027

943,027

768,207

943,267

CURRENT ASSETS

Debtors

6

213,934

29,545

Cash at bank

1,452

6,109

215,386

35,654

CREDITORS

Amounts falling due within one year

7

24,277

22,072

NET CURRENT ASSETS

191,109

13,582

TOTAL ASSETS LESS CURRENT LIABILITIES

959,316

956,849

PROVISIONS FOR LIABILITIES

115,272

93,837

NET ASSETS

844,044

863,012

CAPITAL AND RESERVES

Called up share capital

8

2,500

2,500

Share premium

247,725

247,725

Non distributable fair value reserve

9

345,680

281,331

Retained earnings

248,139

331,456

SHAREHOLDERS' FUNDS

844,044

863,012

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 29 December 2025 and were signed by:

N D Garrett - Director

1.	STATUTORY INFORMATION

Black Horse 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 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 the net income from renting agricultural land and buildings, excluding value added tax.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

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. The revaluation gain and the associated deferred tax are then transferred out of retained earnings to the non-distributable fair value reserve.

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 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

1,800

DEPRECIATION

At 1 April 2024

1,560

Charge for year

60

At 31 March 2025

1,620

NET BOOK VALUE

At 31 March 2025

180

At 31 March 2024

240

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

943,027

Disposals

(175,000

)

At 31 March 2025

768,027

NET BOOK VALUE

At 31 March 2025

768,027

At 31 March 2024

943,027

Fair value at 31 March 2025 is represented by:

£

Valuation in 2012

130,463

Valuation in 2013

41,000

Valuation in 2014

41,000

Valuation in 2015

41,000

Valuation in 2016

276,384

Valuation in 2019

(41,500

)

Valuation in 2021

(79,738

)

Valuation in 2023

41,500

Valuation in 2024

(75,000

)

Valuation in 2025

85,799

Cost

307,119

768,027

If Agricultural land and building had not been revalued it would have been included at the following historical cost:

31.3.25

31.3.24

£

£

Cost

307,119

567,918

Aggregate depreciation

(8,173

)

(14,105

)

Agricultural land and building was valued on an open market basis basis on 31 March 2025 by the director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

37,029

29,469

Other debtors

175,000

-

Accrued interest

1,823

-

Prepayments

82

76

213,934

29,545

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Corporation tax

1,209

884

VAT

6,829

5,569

Directors' current accounts

15,179

14,609

Accrued expenses

1,060

1,010

24,277

22,072

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

2,500

Ordinary

£1

2,500

2,500

9.

RESERVES

Non

distributable

fair

value

reserve

£

At 1 April 2024

281,331

Revaluation in period

85,799

Deferred tax on revaluation

(21,450

)

At 31 March 2025

345,680