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Company No: 15049053 (England and Wales)

# D H PATTEN LIMITED

### Unaudited Financial Statements
For the financial period from 09 December 2023 to 27 February 2025
Pages for filing with the registrar

D H PATTEN LIMITED

## Unaudited Financial Statements

For the financial period from 09 December 2023 to 27 February 2025

Contents

D H PATTEN LIMITED

## BALANCE SHEET

As at 27 February 2025
D H PATTEN LIMITED

## BALANCE SHEET (continued)

As at 27 February 2025

| Note | 27.02.2025 |  | 08.12.2023
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 1,048,952 |  | 0
|  | 1,048,952 |  | 0
Current assets |  |  |  |
Stocks | 4 | 82,657 |  | 0
Debtors | 5 | 42,120 |  | 120
|  | 124,777 |  | 120
Creditors: amounts falling due within one year | 6 | ( 1,187,907) |  | 0
Net current (liabilities)/assets |  | (1,063,130) |  | 120
Total assets less current liabilities |  | (14,178) |  | 120
Creditors: amounts falling due after more than one year | 7 | ( 164,021) |  | 0
Provision for liabilities | 8 | ( 253,298) |  | 0
Net (liabilities)/assets |  | ( 431,497) |  | 120
Capital and reserves |  |  |  |
Called-up share capital | 9 | 120 |  | 120
Profit and loss account |  | ( 431,617 ) |  | 0
Total shareholders' (deficit)/funds |  | ( 431,497) |  | 120

For the financial period ending 27 February 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 financial statements for the financial period 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 D H Patten Limited (registered number: 15049053) were approved and authorised for issue by the Board of Directors on 17 July 2025. They were signed on its behalf by:

Mr D Patten Director |  | Mrs J Patten Director

D H PATTEN LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 09 December 2023 to 27 February 2025
D H PATTEN LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 09 December 2023 to 27 February 2025

##### 1. Accounting policies

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

##### General information and basis of accounting

D H Patten 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 Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom. The principal place of business is Red Hill Farm, Heale Lane, Curry Rivel, Langport, TA10 0PQ.
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 as of 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. The company has negative net liabilities, and the directors have agreed to support the business using funds due to them within their director loan accounts. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services, such as grain and agricultural contracting, and is shown net of VAT and other sales related taxes.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### 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. Tax is recognised in the profit and loss account, 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.
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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. 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. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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 reducing balance basis over its expected useful life, as follows:

Land and buildings | not depreciated
Plant and machinery | 15 % reducing balance
Office equipment | 15 % 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.

##### Leases

The Company as lessee
Assets held under finance leases, 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 of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. 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.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Stocks

Stocks comprising harvested grain, fuel and arable inputs are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Current biological assets of tillages are recognised within stock.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) 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. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

#### 2. Employees

| Period from 09.12.2023 to 27.02.2025 |  | Period from 04.08.2023 to 08.12.2023
| Number |  | Number
Monthly average number of persons employed by the Company during the period, including directors | 4 |  | 2

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery |  | Office equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 09 December 2023 | 0 |  | 0 |  | 0 |  | 0
Additions | 36,275 |  | 2,078,562 |  | 866 |  | 2,115,703
Disposals | 0 |  | ( 891,438) |  | 0 |  | ( 891,438)
At 27 February 2025 | 36,275 |  | 1,187,124 |  | 866 |  | 1,224,265
Accumulated depreciation |  |  |  |  |  |  |
At 09 December 2023 | 0 |  | 0 |  | 0 |  | 0
Charge for the financial period | 0 |  | 212,223 |  | 139 |  | 212,362
Disposals | 0 |  | ( 37,049) |  | 0 |  | ( 37,049)
At 27 February 2025 | 0 |  | 175,174 |  | 139 |  | 175,313
Net book value |  |  |  |  |  |  |
At 27 February 2025 | 36,275 |  | 1,011,950 |  | 727 |  | 1,048,952
At 08 December 2023 | 0 |  | 0 |  | 0 |  | 0

#### 4. Stocks

| 27.02.2025 |  | 08.12.2023
| £ |  | £
Stocks | 82,657 |  | 0

Included within stock is £28,639 of non-current biological assets comprising of tillages

#### 5. Debtors

| 27.02.2025 |  | 08.12.2023
| £ |  | £
Trade debtors | 34,959 |  | 0
Other debtors | 7,161 |  | 120
| 42,120 |  | 120

Included within other debtors are VAT recoverable and other immaterial debtors.

#### 6. Creditors: amounts falling due within one year

| 27.02.2025 |  | 08.12.2023
| £ |  | £
Bank overdrafts | 34,250 |  | 0
Trade creditors | 110,249 |  | 0
Taxation and social security | 26,727 |  | 0
Obligations under finance leases and hire purchase contracts | 105,598 |  | 0
Other creditors | 911,083 |  | 0
| 1,187,907 |  | 0

Included within other creditors are amounts owed to the Company's directors as at the balance sheet date, £825500. No interest is charged on these loans and they are repayable on demand.
Net obligations under finance lease and hire purchase contracts are secured by fixed charges over the assets to which they relate, included within plant and machinery and vehicles.

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

| 27.02.2025 |  | 08.12.2023
| £ |  | £
Obligations under finance leases and hire purchase contracts | 164,021 |  | 0

Net obligations under finance lease and hire purchase contracts are secured by fixed charges over the assets to which they relate, included within plant and machinery and vehicles.

#### 8. Provision for liabilities

| 27.02.2025 |  | 08.12.2023
| £ |  | £
Deferred tax | 253,298 |  | 0

#### 9. Called-up share capital

| 27.02.2025 |  | 08.12.2023
| £ |  | £
Allotted, called-up and fully-paid |  |  |
120 Ordinary shares of £ 1.00 each | 120 |  | 120