Registration number: 01310346

R.A. Latta (Farms) Limited
(Registration number: 01310346)

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 11
Property, plant and equipment	8

R.A. Latta (Farms) Limited
(Registration number: 01310346)

Company Information

Director

Mr Mathew Latta

Registered office

Bridge Farm Holme Fen Drove Colne Huntingdon Cambridgeshire PE28 3RE

Registered number

01310346

R.A. Latta (Farms) Limited
(Registration number: 01310346)

Balance Sheet as at 31 May 2025

	Note	2025 £	2024 £
Fixed Assets
Tangible Assets	5	18,393,204	18,877,909
Investment property	6	632,943	632,943
		19,026,147	19,510,852
Current assets
Stocks	7	596,929	468,700
Debtors	8	268,360	283,001
Cash at bank and in hand		1,863	11,001
		867,152	762,702
Creditors: Amounts falling due within one year	9	(2,101,513)	(1,584,800)
Net current liabilities		(1,234,361)	(822,098)
Total assets less current liabilities		17,791,786	18,688,754
Creditors: Amounts falling due after more than one year	9	(3,371,936)	(3,917,855)
Provisions for liabilities		(2,774,894)	(2,840,642)
Net assets		11,644,956	11,930,257
Capital and Reserves
Called up share capital		285	285
Share premium reserve		639,595	639,595
Revaluation reserve		8,004,734	7,984,758
Retained Earnings		3,000,342	3,305,619
Shareholders' funds		11,644,956	11,930,257

For the financial year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

R.A. Latta (Farms) Limited
(Registration number: 01310346)

Balance Sheet as at 31 May 2025

Approved and authorised by the director on 20 December 2025
 

......................................... Mr Mathew Latta Director

R.A. Latta (Farms) Limited
(Registration number: 01310346)

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office and principal place of business is:
Bridge Farm
Holme Fen Drove
Colne
Huntingdon
Cambridgeshire
PE28 3RE

These financial statements were authorised for issue by the director on 20 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

R.A. Latta (Farms) Limited
(Registration number: 01310346)

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land, buildings and improvements	2 - 4% Straight line
Plant and machinery	15% Reducing balance
Motor vehicles	25% Straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate
determined annually by the company director. The director uses observable market prices, adjusted if
necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are
recognised in the profit or loss.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Basic Payment Entitlements	8 years (to 2023)

R.A. Latta (Farms) Limited
(Registration number: 01310346)

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for produce sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are valued at the lower of cost and net realisable value using the accepted conventions to arrive at deemed cost where actual costs are not accurately ascertainable.

Stocks on hand at the year end are valued by Hub Rural Limited in accordance with the Guidance Notes of the RICS/CAAV and the Inland Revenue Business Economic Note 19.

Trade Creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

R.A. Latta (Farms) Limited
(Registration number: 01310346)

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2024 - 7).

R.A. Latta (Farms) Limited
(Registration number: 01310346)

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

4	Intangible assets

	Basic Payment Entitlements £	Total £
Cost or valuation
At 1 June 2024	84,328	84,328
At 31 May 2025	84,328	84,328
Amortisation
At 1 June 2024	84,328	84,328
At 31 May 2025	84,328	84,328
Carrying amount
At 31 May 2025	-	-

5	Tangible Assets

	Land, buildings and improvements £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 June 2024	16,359,821	5,983,414	86,685	22,429,920
Additions	79,323	105,623	-	184,946
Disposals	-	(788,369)	-	(788,369)
At 31 May 2025	16,439,144	5,300,668	86,685	21,826,497
Depreciation
At 1 June 2024	380,060	3,151,795	20,156	3,552,011
Charge for the year	41,180	299,331	17,355	357,866
Eliminated on disposal	-	(476,584)	-	(476,584)
At 31 May 2025	421,240	2,974,542	37,511	3,433,293
Carrying amount
At 31 May 2025	16,017,904	2,326,126	49,174	18,393,204
At 31 May 2024	15,979,761	2,831,619	66,529	18,877,909

Included within the net book value of land and buildings above is £15,844,035 (2024 - £16,022,335) in respect of freehold land and buildings.
 

R.A. Latta (Farms) Limited
(Registration number: 01310346)

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

6	Investment properties

	2025 £
At 31 May 2025	632,943

 

There has been no valuation of investment property by an independent valuer. The 2025 and 2024 valuations were made by the company directors on an open market value, on an existing use basis

7

Stocks

	2025 £	2024 £
Raw materials and consumables	92,065	87,505
Work in progress	504,864	381,195
	596,929	468,700

8

Debtors

Current	2025 £	2024 £
Trade Debtors	87,950	73,249
Prepayments	151,039	167,639
Other debtors	29,371	42,113
	268,360	283,001