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Registered number: 12522544 HOME FARM (SHROPSHIRE) LTD UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
HOME FARM (SHROPSHIRE) LTD REGISTERED NUMBER: 12522544 BALANCE SHEET AS AT 30 APRIL 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 7,030,076 |  | 5,449,703
Investments | 6 |  | 100 |  | 100
|  |  | 7,030,176 |  | 5,449,803
Current assets |  |  |  |  |
Stocks |  | 185,067 |  | 56,411 |
Debtors: amounts falling due within one year | 7 | 90,495 |  | - |
Cash at bank and in hand |  | 5,385 |  | 585 |
|  | 280,947 |  | 56,996 |
Creditors: amounts falling due within one year | 8 | (4,159,840) |  | (3,454,978) |
Net current liabilities |  |  | (3,878,893) |  | (3,397,982)
Total assets less current liabilities |  |  | 3,151,283 |  | 2,051,821
Creditors: amounts falling due after more than one year | 9 |  | (801,948) |  | -
Provisions for liabilities |  |  |  |  |
Deferred tax | 11 | (80,242) |  | (72,777) |
|  |  | (80,242) |  | (72,777)
Net assets |  |  | 2,269,093 |  | 1,979,044
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | 2,268,993 |  | 1,978,944
|  |  | 2,269,093 |  | 1,979,044
Page 1
HOME FARM (SHROPSHIRE) LTD REGISTERED NUMBER: 12522544 BALANCE SHEET (CONTINUED) AS AT 30 APRIL 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Nicholas Taylor
Director
Date: 8 December 2025
The notes on pages 4 to 13 form part of these financial statements. Page 2
HOME FARM (SHROPSHIRE) LTD STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 APRIL 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 May 2023 | 100 | 1,920,457 | 1,920,557
Comprehensive income for the year |  |  |
Profit for the year | - | 430,537 | 430,537
Contributions by and distributions to owners |  |  |
Dividends: Equity capital | - | (372,050) | (372,050)
At 1 May 2024 | 100 | 1,978,944 | 1,979,044
Comprehensive income for the year |  |  |
Profit for the year | - | 633,099 | 633,099
Contributions by and distributions to owners |  |  |
Dividends: Equity capital | - | (343,050) | (343,050)
At 30 April 2025 | 100 | 2,268,993 | 2,269,093
| The notes on pages 4 to 13 form part of these financial statements.
Page 3
HOME FARM (SHROPSHIRE) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
1. | General information
Home Farm (Shropshire) Ltd (company number 12522544) is a limited company,limited by shares, incorporated in England and Wales. with it's registered office and principal place of business at Home Farm, Astley, Shrewsbury, Shropshire SY4 4DD. The nature of the company's business is farming and the letting and operating of own real estate. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.3 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Page 4
HOME FARM (SHROPSHIRE) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.4 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.5 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.6 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.7 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
| 2.8 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 5
HOME FARM (SHROPSHIRE) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.8 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Freehold property | - | not depreciated
|  |  |  | Property improvements | - | not depreciated
|  |  |  | Plant and machinery | - | 5% reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.9 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.10 | Stocks
Farming stocks are valued in accordance with the HM Revenue & Customs helpsheet HS232.
| 2.11 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.12 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.13 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 6
HOME FARM (SHROPSHIRE) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.14 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation. Increases in provisions are generally charged as an expense to profit or loss.
| 2.15 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
| The average monthly number of employees, including directors, during the year was 3 (2024 - 3).
Page 7
HOME FARM (SHROPSHIRE) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
4. | Intangible assets
|  | Basic Payment Entitlements
|  | £
| Cost |
| At 1 May 2024 | 9,000
| At 30 April 2025 | 9,000
| Amortisation |
| At 1 May 2024 | 9,000
| At 30 April 2025 | 9,000
| Net book value |
| At 30 April 2025 | -
| At 30 April 2024 | -
Page 8
HOME FARM (SHROPSHIRE) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
5. | Tangible fixed assets
|  | Freehold property | Property improvements | Plant and machinery | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 May 2024 | 5,150,272 | 8,322 | 377,559 | 5,536,153
| Additions | 865,353 | 729,576 | - | 1,594,929
| At 30 April 2025 | 6,015,625 | 737,898 | 377,559 | 7,131,082
| Depreciation |  |  |  |
| At 1 May 2024 | - | - | 86,450 | 86,450
| Charge for the year on owned assets | - | - | 14,556 | 14,556
| At 30 April 2025 | - | - | 101,006 | 101,006
| Net book value |  |  |  |
| At 30 April 2025 | 6,015,625 | 737,898 | 276,553 | 7,030,076
| At 30 April 2024 | 5,150,272 | 8,322 | 291,109 | 5,449,703
The carrying amount of investment property, which the Company rents to another group entity when it has chosen to account for such properties using the cost model is £6,015,625 (2024 - £5,150,272) Page 9
HOME FARM (SHROPSHIRE) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
6. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 May 2024 | 100
| At 30 April 2025 | 100
Page 10
HOME FARM (SHROPSHIRE) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
7. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 66,203 | -
| Prepayments and accrued income | 24,292 | -
|  | 90,495 | -
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 67,000 | -
| Payments received on account | - | 1
| Trade creditors | 142,010 | -
| Amounts owed to group undertakings | 3,848,149 | 3,429,425
| Corporation tax | 101,291 | 22,679
| Accruals and deferred income | 1,390 | 2,873
|  | 4,159,840 | 3,454,978
9. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 801,948 | -
|  | 801,948 | -
| The following liabilities were secured:
| Details of security provided:
The HSBC Bank loan is secured by a charge over the freehold property known as 240.61 acres Rock Farm, Stanton upon Hine Heath, Shrewsbury. Page 11
HOME FARM (SHROPSHIRE) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
10. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 67,000 | -
|  | 67,000 | -
| Amounts falling due 1-2 years |  |
| Bank loans | 70,000 | -
|  | 70,000 | -
| Amounts falling due 2-5 years |  |
| Bank loans | 236,000 | -
|  | 236,000 | -
| Amounts falling due after more than 5 years |  |
| Bank loans | 495,948 | -
|  | 495,948 | -
|  | 868,948 | -
11. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | (72,777)
| Utilised in year | (7,465)
| At end of year | (80,242)
Page 12
HOME FARM (SHROPSHIRE) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 11.Deferred taxation (continued)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (80,242) | (72,777)
|  | (80,242) | (72,777)
Page 13