Company No: 01560568 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	3,610,178		3,327,814
Biological assets	4	37,900		42,100
		3,648,078		3,369,914
Current assets
Stocks		542,000		472,868
Debtors	5	1,468,299		1,391,806
Cash at bank and in hand		5		1,444
		2,010,304		1,866,118
Creditors: amounts falling due within one year	6	( 1,478,084)		( 1,234,229)
Net current assets		532,220		631,889
Total assets less current liabilities		4,180,298		4,001,803
Creditors: amounts falling due after more than one year	7	( 958,916)		( 1,279,642)
Provision for liabilities	8, 9	( 580,222)		( 450,984)
Net assets		2,641,160		2,271,177
Capital and reserves
Called-up share capital	10	100		100
Profit and loss account		2,641,060		2,271,077
Total shareholder's funds		2,641,160		2,271,177

For the financial year ending 30 April 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Grandpond Limited (registered number: 01560568) were approved and authorised for issue by the Board of Directors on 22 December 2025. They were signed on its behalf by:

Matthew Alexander Lyle Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Grandpond Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Johnston Carmichael Birchin Court, 20 Birchin Lane, London, EC3V 9DU, United Kingdom. The principal place of business is Easter Caputh Farm, Murthly, Perthshire, PH1 4LA.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover represents amounts receivable for livestock and arable farming net of VAT and trade discounts.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	0 - 15 % reducing balance
Plant and machinery etc.	15 - 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Biological assets

The Company owned and a beef herd. In accordance with FRS102, these are defined as biological assets.

The Company breeds cattle for it’s own use as well as buying and selling cattle.

In respect of agriculture harvested from a biological assets, this is measured at the point of harvest at either the lower of cost and estimated selling price less costs to complete and sell; or fair value less costs to sell with any gain or loss arising on initial recognition of agriculture produce at fair value less costs to sell being included in profit or loss.

Leases

The Company as lessee
Assets held under hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash, are measured at transaction price, including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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. Amounts 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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	6		6

3. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 May 2024	1,492,958		4,058,605		5,551,563
Additions	0		767,862		767,862
Disposals	0		( 146,046)		( 146,046)
At 30 April 2025	1,492,958		4,680,421		6,173,379
Accumulated depreciation
At 01 May 2024	417,550		1,806,199		2,223,749
Charge for the financial year	41,554		330,121		371,675
Disposals	0		( 32,223)		( 32,223)
At 30 April 2025	459,104		2,104,097		2,563,201
Net book value
At 30 April 2025	1,033,854		2,576,324		3,610,178
At 30 April 2024	1,075,408		2,252,406		3,327,814

4. Biological assets

	2025
	£
Biological assets at cost	37,900

Assets held at cost:

	Beef		Total
	£		£
Cost
At 01 May 2024	42,100		42,100
Decrease attributable to sales/ transfers out	( 4,200)		( 4,200)
At 30 April 2025	37,900		37,900
Net book value
At 30 April 2025	37,900		37,900
At 30 April 2024	42,100		42,100

5. Debtors

	2025		2024
	£		£
Trade debtors	1,379,831		1,310,138
Corporation tax	2,874		2,874
Other debtors	85,594		78,794
	1,468,299		1,391,806

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts	768,280		546,464
Trade creditors	343,170		385,986
Other taxation and social security	12,364		10,931
Obligations under finance leases and hire purchase contracts	309,254		249,823
Other creditors	45,016		41,025
	1,478,084		1,234,229

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	379,956		629,614
Obligations under finance leases and hire purchase contracts	578,960		650,028
	958,916		1,279,642

There are no amounts included above in respect of which any security has been given by the small entity.

8. Provision for liabilities

	2025		2024
	£		£
Deferred tax	580,222		450,984

9. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 450,984)		( 306,364)
Charged to the Profit and Loss Account	( 129,238)		( 144,620)
At the end of financial year	( 580,222)		( 450,984)

10. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100