| REGISTERED NUMBER: |
| J. WHARTON (AGRICULTURE) LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2025 |
| REGISTERED NUMBER: |
| J. WHARTON (AGRICULTURE) LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2025 |
| J. WHARTON (AGRICULTURE) LIMITED (REGISTERED NUMBER: 00810506) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2025 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 9 |
| J. WHARTON (AGRICULTURE) LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 JUNE 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 5 Resolution Close |
| Endeavour Park |
| Boston |
| Lincolnshire |
| PE21 7TT |
| BANKERS: |
| 84 High Street |
| Scunthorpe |
| North Lincolnshire |
| DN15 6HQ |
| SOLICITORS: |
| Cartergate House |
| 26 Chantry Lane |
| Grimsby |
| North East Lincolnshire |
| DN31 2LJ |
| J. WHARTON (AGRICULTURE) LIMITED (REGISTERED NUMBER: 00810506) |
| STATEMENT OF FINANCIAL POSITION |
| 30 JUNE 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| Investment property | 7 |
| CURRENT ASSETS |
| Valuation |
| Debtors | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 10 | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 13 |
| Fair value - investment properties | 14 |
| Fair value reserve - listed investments | 14 |
| Retained earnings | 14 |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| J. WHARTON (AGRICULTURE) LIMITED (REGISTERED NUMBER: 00810506) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 30 JUNE 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| J. WHARTON (AGRICULTURE) LIMITED (REGISTERED NUMBER: 00810506) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2025 |
| 1. | STATUTORY INFORMATION |
| J. Wharton (Agriculture) Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Government grants |
| Government grants, including basic payment scheme, delinked payments, countryside stewardship and sustainable farming incentives are recognised in the financial statements in accordance with current HM Revenue and Customs guidance. |
| 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. |
| Valuation |
| Valuations are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. The cost of cultivations and other operations are assessed using CAAV Costings as appropriate and are valued consistently with prior years by an independent qualified valuer. |
| Deemed cost has been used where actual cost is not accurately ascertainable. |
| J. WHARTON (AGRICULTURE) LIMITED (REGISTERED NUMBER: 00810506) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company has chosen to adopt the FRS 102A in respect of financial instruments. |
| Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
| At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement. |
| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
| 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease. |
| 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 the income statement in the period to which they relate. |
| Investments |
| Unlisted investments are valued at historic cost. Listed investments are valued at fair value with any gain or loss reported through the income statement. |
| Other income |
| Other income is recognised in the period to which it relates. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| J. WHARTON (AGRICULTURE) LIMITED (REGISTERED NUMBER: 00810506) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2025 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 July 2024 |
| Disposals | ( |
) |
| At 30 June 2025 |
| AMORTISATION |
| At 1 July 2024 |
| Eliminated on disposal | ( |
) |
| At 30 June 2025 |
| NET BOOK VALUE |
| At 30 June 2025 |
| At 30 June 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements |
| Freehold | to | Plant and |
| property | property | machinery | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 July 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 June 2025 |
| DEPRECIATION |
| At 1 July 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 June 2025 |
| NET BOOK VALUE |
| At 30 June 2025 |
| At 30 June 2024 |
| Cost or valuation at 30 June 2025 is represented by: |
| Improvements |
| Freehold | to | Plant and |
| property | property | machinery | Totals |
| £ | £ | £ | £ |
| Valuation in 2025 | 8,716,767 | - | - | 8,716,767 |
| Cost | - | 69,953 | 6,879,767 | 6,949,720 |
| 8,716,767 | 69,953 | 6,879,767 | 15,666,487 |
| The fair value has been determined by the directors based on estimated open market values. There has been no valuation of land and buildings by an independent valuer. |
| J. WHARTON (AGRICULTURE) LIMITED (REGISTERED NUMBER: 00810506) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2025 |
| 6. | FIXED ASSET INVESTMENTS |
| Listed |
| investments |
| £ |
| COST OR VALUATION |
| At 1 July 2024 |
| Revaluations |
| At 30 June 2025 |
| NET BOOK VALUE |
| At 30 June 2025 |
| At 30 June 2024 |
| Cost or valuation at 30 June 2025 is represented by: |
| Listed |
| investments |
| £ |
| Valuation in 2025 | 18,009 |
| 7. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 July 2024 |
| Revaluations | 100,000 |
| At 30 June 2025 |
| NET BOOK VALUE |
| At 30 June 2025 |
| At 30 June 2024 |
| Fair value at 30 June 2025 is represented by: |
| £ |
| Valuation in 2025 | 1,302,000 |
| The fair value has been determined by the directors based on estimated open market values. There has been no valuation of investment property by an independent valuer. |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| J. WHARTON (AGRICULTURE) LIMITED (REGISTERED NUMBER: 00810506) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2025 |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 11) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts (see note 11) |
| 11. | LEASING AGREEMENTS |
| The total amount of non-cancellable operating lease commitments due within twelve months that are not included in the statement of financial position is £7,922 (2024 - £4,674). |
| 12. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts | 172,000 | - |
| Hire purchase liabilities are secured against the assets to which they relate. |
| 13. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | £1 | 135,409 | 135,409 |
| 14. | RESERVES |
| Fair |
| Fair | value |
| value - | reserve - |
| Retained | investment | listed |
| earnings | properties | investments | Totals |
| £ | £ | £ | £ |
| At 1 July 2024 | 9,222,157 |
| Profit for the year | - | - |
| Movement on fair value, net of deferred tax |
(77,968 |
) |
75,000 |
2,968 |
- |
| At 30 June 2025 | 9,443,300 |
| 15. | CAPITAL COMMITMENTS |
| 2025 | 2024 |
| £ | £ |
| Contracted but not provided for in the |
| financial statements |
| J. WHARTON (AGRICULTURE) LIMITED (REGISTERED NUMBER: 00810506) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2025 |
| 16. | RELATED PARTY DISCLOSURES |
| During the year, £650,000 was loaned to the company by a related party. The related party is both an owner holding a participating interest and a director. The loan balance owing at the year end is £150,000 and has been shown behind other creditors in the 2025 financial statements. |
| The loan is unsecured, interest free and repayable on demand. |