Registration number: 03188990

Albedale Farms Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 7

Albedale Farms Limited

(Registration number: 03188990)
Balance Sheet as at 30 April 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	295,745	288,597
Investment property	5	590,000	570,000
		885,745	858,597
Current assets
Stocks		287,712	318,942
Debtors	6	1,270,281	1,255,026
Cash at bank and in hand		3,468,655	3,192,516
		5,026,648	4,766,484
Creditors: Amounts falling due within one year	7	(418,917)	(385,986)
Net current assets		4,607,731	4,380,498
Total assets less current liabilities		5,493,476	5,239,095
Provisions for liabilities		(18,012)	(11,226)
Net assets		5,475,464	5,227,869
Capital and reserves
Called up share capital	8	200,000	200,000
Other reserves		73,734	58,734
Retained earnings		5,201,730	4,969,135
Shareholders' funds		5,475,464	5,227,869

Albedale Farms Limited

(Registration number: 03188990)
Balance Sheet as at 30 April 2025

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 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 directors acknowledge their 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.

Approved and authorised by the Board on 14 January 2026 and signed on its behalf by:
 

......................................... Mr S J Goddard Company secretary and director

Albedale Farms Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Manor Farm
Grateley
Andover
Hampshire
SP11 8JS
England

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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.

Turnover also includes agricultural subsidies which are credited to profit and loss account according to the amount the company is qualified to receive in the year.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease.

Tax

The tax expense for the period comprises current tax and deferred taxation.

The current 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.

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.

Albedale Farms Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Tangible assets

Tangible assets is stated in the statement of financial position 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.

A farm is considered to be a tangible fixed asset comprising all land and buildings contained within the agricultural estate.

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 and buildings freehold	No depreciation is provided on freehold land.
Plant and machinery	20% reducing balance
Computer equipment	15% to 33.33% reducing balance
Motor vehicles	20% reducing balance

Investment property

Investment property, which is property held to earn rentals and / or capital appreciation, is initially recognised at cost, which includes the purchase cost and any attributable expenditure. Subsequently it is measured at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use 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 profit or loss.
 

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.

Debtors

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Albedale Farms Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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.

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.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlementis recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the emploment of an employee or to provide termination benefits.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 4).

Albedale Farms Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

4	Tangible assets

	Land and buildings £	Plant and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 May 2024	266,047	281,066	16,140	563,253
Additions	-	12,978	-	12,978
Disposals	-	(20,449)	-	(20,449)
At 30 April 2025	266,047	273,595	16,140	555,782
Depreciation
At 1 May 2024	-	258,516	16,140	274,656
Charge for the year	-	5,570	-	5,570
Eliminated on disposal	-	(20,189)	-	(20,189)
At 30 April 2025	-	243,897	16,140	260,037
Carrying amount
At 30 April 2025	266,047	29,698	-	295,745
At 30 April 2024	266,047	22,550	-	288,597

Included within the net book value of land and buildings above is £266,047 (2024 - £266,047) in respect of freehold land and buildings.

The freehold land, consisting of 249 acres at Colthrop, Berkshire, was gifted to the company in March 1999. The land is stated at cost £1,864 being the expenses relating to the transfer from the donors.
 

5	Investment properties

	2025 £
At 1 May 2024	570,000
Fair value adjustments	20,000
At 30 April 2025	590,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out by the director Mr S J Goddard on an open market value basis after consultation with a family member with appropriate expertise.

Albedale Farms Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

6

Debtors

	2025 £	2024 £
Trade debtors	37,041	39,574
Prepayments	79,795	70,458
Other debtors	1,153,445	1,144,994
	1,270,281	1,255,026

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings		251,890	227,197
Trade creditors		35,607	28,992
Taxation and social security		76,900	85,241
Other creditors		54,520	44,556
		418,917	385,986