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REGISTERED NUMBER: 02699148 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

WORTON FARMS LIMITED

WORTON FARMS LIMITED (REGISTERED NUMBER: 02699148)

Contents of the Financial Statements

for the year ended 31 March 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

WORTON FARMS LIMITED

Company Information

for the year ended 31 March 2025

| DIRECTORS: | A Pharaon

| T Smith

| SECRETARY: | A Pharaon

| REGISTERED OFFICE: | Worton Rectory Farm

| Cassington

| Oxfordshire

| OX29 4SU

| REGISTERED NUMBER: | 02699148 (England and Wales)

| AUDITORS: | Camerons Accountancy Consultants Limited

| Statutory Auditor

| Chartered Accountants

| 9 Worton Park

| Cassington

| Witney

| Oxfordshire

| OX29 4SX

WORTON FARMS LIMITED (REGISTERED NUMBER: 02699148)

Balance Sheet

31 March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 5 | 22,312,575 |  | 22,327,740 |  |

Investment property | 6 | 2,471,657 |  | 2,471,657 |  |

24,784,232 |  | 24,799,397 |  |

CURRENT ASSETS

Stocks | 19,288 |  | 16,697 |  |

Debtors | 7 | 857,055 |  | 809,946 |  |

Cash at bank and in hand | 229,845 |  | 150,790 |  |

1,106,188 |  | 977,433 |  |

CREDITORS

Amounts falling due within one year | 8 | 689,823 |  | 724,441 |  |

NET CURRENT ASSETS | 416,365 |  | 252,992 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 25,200,597 |  | 25,052,389 |  |

CREDITORS

Amounts falling due after more than one year | 9 | 25,131,371 |  | 24,989,371 |  |

PROVISIONS FOR LIABILITIES | 75,794 |  | 85,242 |  |

CAPITAL AND RESERVES

Called up share capital | 10 | 1,000 |  | 1,000 |  |

Retained earnings | (7,568 | ) | (23,224 | ) |

SHAREHOLDERS' FUNDS | (6,568 | ) | (22,224 | ) |

25,200,597 |  | 25,052,389 |  |

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 4 January 2026 and were signed on its behalf by:

T Smith - Director

WORTON FARMS LIMITED (REGISTERED NUMBER: 02699148)

Notes to the Financial Statements

for the year ended 31 March 2025

1. | STATUTORY INFORMATION

| Worton Farms 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.

2. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| The accounts have been prepared on the going concern basis due to the full support given to the company by its parent, who guarantees all the debts of the company.

| Turnover and other operating income

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Turnover, other operating income and profit before tax, are attributable to the principal activities of the company.

| Tangible fixed assets

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

| Improvements to property | - | 2% on cost

| Plant and machinery | - | 12.5% or 25% on cost

| Motor vehicles | - | 25% on cost

| Computer equipment | - | 25% on cost

| 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.

| Stocks

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

| 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.

| 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.

WORTON FARMS LIMITED (REGISTERED NUMBER: 02699148)

Notes to the Financial Statements - continued

for the year ended 31 March 2025

3. | ACCOUNTING POLICIES - continued

| Income recognition

| Retail sales are recognised at the date of the transaction with customers, other sales are recognised on an accruals basis.

| Other operating income comprises rental income and ancillary sales, net of value added tax where applicable. Rental income is recognised on an accruals basis in accordance with the risks and rewards of the relevant agreements.

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 17 (2024 - 18 ) .

5. | TANGIBLE FIXED ASSETS

| Improvements |  | Freehold |

| to |  | land and |  | Plant and

| property |  | property |  | machinery

£ | £ | £ |

| COST

| At 1 April 2024 | 9,764,282 |  | 15,574,115 |  | 1,010,500 |  |

| Additions | 249,302 |  | - |  | - |  |

| At 31 March 2025 | 10,013,584 |  | 15,574,115 |  | 1,010,500 |  |

| DEPRECIATION

| At 1 April 2024 | 3,478,195 |  | - |  | 571,923 |  |

| Charge for year | 196,948 |  | - |  | 71,723 |  |

| At 31 March 2025 | 3,675,143 |  | - |  | 643,646 |  |

| NET BOOK VALUE

| At 31 March 2025 | 6,338,441 |  | 15,574,115 |  | 366,854 |  |

| At 31 March 2024 | 6,286,087 |  | 15,574,115 |  | 438,577 |  |

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 April 2024 | 15,500 |  | 64,678 |  | 26,429,075 |  |

| Additions | 14,863 |  | 1,518 |  | 265,683 |  |

| At 31 March 2025 | 30,363 |  | 66,196 |  | 26,694,758 |  |

| DEPRECIATION

| At 1 April 2024 | 10,879 |  | 40,338 |  | 4,101,335 |  |

| Charge for year | 4,487 |  | 7,690 |  | 280,848 |  |

| At 31 March 2025 | 15,366 |  | 48,028 |  | 4,382,183 |  |

| NET BOOK VALUE

| At 31 March 2025 | 14,997 |  | 18,168 |  | 22,312,575 |  |

| At 31 March 2024 | 4,621 |  | 24,340 |  | 22,327,740 |  |

WORTON FARMS LIMITED (REGISTERED NUMBER: 02699148)

Notes to the Financial Statements - continued

for the year ended 31 March 2025

6. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 April 2024

| and 31 March 2025 | 2,471,657 |  |

| NET BOOK VALUE

| At 31 March 2025 | 2,471,657 |  |

| At 31 March 2024 | 2,471,657 |  |

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 276,733 |  | 213,652 |  |

| Amounts owed by associates | 10,000 |  | 171,753 |  |

| Other debtors | 570,322 |  | 424,541 |  |

857,055 |  | 809,946 |  |

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 139,548 |  | 100,561 |  |

| Taxation and social security | 100,975 |  | 83,791 |  |

| Other creditors | 449,300 |  | 540,089 |  |

689,823 |  | 724,441 |  |

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Amounts owed to group undertakings | 25,131,371 |  | 24,989,371 |  |

10. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 1,000 | Ordinary | £1 | 1,000 |  | 1,000 |  |

11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Adam Woolford (Senior Statutory Auditor)

| for and on behalf of Camerons Accountancy Consultants Limited

12. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

| In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

13. | ULTIMATE CONTROLLING PARTY

| The controlling party is the parent company, Thrift Developments Limited.

WORTON FARMS LIMITED (REGISTERED NUMBER: 02699148)

Notes to the Financial Statements - continued

for the year ended 31 March 2025

14. | OPTION PREMIUM ON LEASE

| During the 2019 year the company received £400k from a tenant for an option to renew the lease. This lease has a 16 year term and therefore the income has been recognised as follows:

| - Capital element of £120k in other income in the year to 31st March 2019.

| - Rental element of £280k recognised monthly for the duration of the lease at £17.5k per annum.

| At 31st March 2025 deferred income relating to this transaction was £170k.