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REGISTERED NUMBER: 07946608 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st May 2025

for

Timaru Farming Company Limited

Timaru Farming Company Limited (Registered number: 07946608)

Contents of the Financial Statements

for the year ended 31st May 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Timaru Farming Company Limited

Company Information

for the year ended 31st May 2025

| DIRECTORS: | Mrs V M Allison

| R W Allison

| Mrs J M Allison

| C W H Allison

| Mrs M M Dawson

| REGISTERED OFFICE: | Timaru Farm

| Barton Road

| Elsham

| North Lincolnshire

| DN20 0LS

| REGISTERED NUMBER: | 07946608 (England and Wales)

| ACCOUNTANTS: | Smailes Goldie Limited

| Chartered Accountants

| Regent's Court

| Princess Street

| Hull

| East Yorkshire

| HU2 8BA

Timaru Farming Company Limited (Registered number: 07946608)

Balance Sheet

31st May 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 3,740,135 |  | 3,777,737 |  |

Investments | 6 | 964 |  | 964 |  |

3,741,099 |  | 3,778,701 |  |

CURRENT ASSETS

Stocks | 584,938 |  | 517,170 |  |

Debtors | 7 | 217,363 |  | 367,860 |  |

802,301 |  | 885,030 |  |

CREDITORS

Amounts falling due within one year | 8 | 952,227 |  | 1,536,992 |  |

NET CURRENT LIABILITIES | (149,926 | ) | (651,962 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,591,173 |  | 3,126,739 |  |

CREDITORS

Amounts falling due after more than one year | 9 | (2,290,685 | ) | (1,864,752 | ) |

PROVISIONS FOR LIABILITIES | (158,703 | ) | (166,963 | ) |

NET ASSETS | 1,141,785 |  | 1,095,024 |  |

CAPITAL AND RESERVES

Called up share capital | 11 | 100 |  | 100 |  |

Retained earnings | 1,141,685 |  | 1,094,924 |  |

1,141,785 |  | 1,095,024 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2025 in accordance with Section 476 of the Companies Act 2006.

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.

Timaru Farming Company Limited (Registered number: 07946608)

Balance Sheet - continued

31st May 2025

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th February 2026 and were signed on its behalf by:

C W H Allison - Director

Timaru Farming Company Limited (Registered number: 07946608)

Notes to the Financial Statements

for the year ended 31st May 2025

1. | STATUTORY INFORMATION

| Timaru Farming Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Entitlements

| Basic Payment Scheme entitlements are initially recognised at cost. Entitlements have not previously been amortised however the scheme ceased in 2021, therefore the assets have been fully amortised this year.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| 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.

| Depreciation

| Depreciation of fixed assets is charged by annual instalments commencing with the year of acquisition at rates estimated to write off their cost less any residual value over the expected useful lives.

| The annual rates used are as follows:

| Land |  | Nil |  |

| Buildings |  | 4% on cost |  |

| Plant and machinery |  | 20% reducing balance |  |

| Motor vehicles |  | 35% reducing balance |  |

| Computer equipment |  | 20% on cost |  |

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Timaru Farming Company Limited (Registered number: 07946608)

Notes to the Financial Statements - continued

for the year ended 31st May 2025

2. | ACCOUNTING POLICIES - continued

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 profit or loss 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 profit or loss in the period to which they relate.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 7 (2024 - 7 ) .

4. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST

| At 1st June 2024

| and 31st May 2025 | 16,754 |  |

| AMORTISATION

| At 1st June 2024

| and 31st May 2025 | 16,754 |  |

| NET BOOK VALUE

| At 31st May 2025 | - |  |

| At 31st May 2024 | - |  |

Timaru Farming Company Limited (Registered number: 07946608)

Notes to the Financial Statements - continued

for the year ended 31st May 2025

5. | TANGIBLE FIXED ASSETS

| Freehold |  | Plant and |  | Motor |  | Computer |

| property |  | machinery |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1st June 2024 | 3,153,034 |  | 2,274,491 |  | 36,504 |  | 411 |  | 5,464,440 |  |

| Additions | - |  | 69,590 |  | 42,685 |  | 2,975 |  | 115,250 |  |

| Disposals | - |  | (10,421 | ) | (10,614 | ) | - |  | (21,035 | ) |

| At 31st May 2025 | 3,153,034 |  | 2,333,660 |  | 68,575 |  | 3,386 |  | 5,558,655 |  |

| DEPRECIATION

| At 1st June 2024 | 43,733 |  | 1,609,000 |  | 33,864 |  | 106 |  | 1,686,703 |  |

| Charge for year | 4,528 |  | 142,651 |  | 2,350 |  | 132 |  | 149,661 |  |

| Eliminated on disposal | - |  | (8,381 | ) | (9,463 | ) | - |  | (17,844 | ) |

| At 31st May 2025 | 48,261 |  | 1,743,270 |  | 26,751 |  | 238 |  | 1,818,520 |  |

| NET BOOK VALUE

| At 31st May 2025 | 3,104,773 |  | 590,390 |  | 41,824 |  | 3,148 |  | 3,740,135 |  |

| At 31st May 2024 | 3,109,301 |  | 665,491 |  | 2,640 |  | 305 |  | 3,777,737 |  |

6. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST

| At 1st June 2024

| and 31st May 2025 | 964 |  |

| NET BOOK VALUE

| At 31st May 2025 | 964 |  |

| At 31st May 2024 | 964 |  |

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 195,214 |  | 342,267 |  |

| Other debtors | 22,149 |  | 25,593 |  |

217,363 |  | 367,860 |  |

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 661,266 |  | 1,209,599 |  |

| Hire purchase contracts | 93,624 |  | 63,297 |  |

| Trade creditors | 116,667 |  | 144,592 |  |

| Taxation and social security | 25,943 |  | 35,463 |  |

| Other creditors | 54,727 |  | 84,041 |  |

952,227 |  | 1,536,992 |  |

Timaru Farming Company Limited (Registered number: 07946608)

Notes to the Financial Statements - continued

for the year ended 31st May 2025

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

| In 2020 the company obtained finance through the government's Bounce-back Loan Scheme. The scheme provides a government-backed guarantee and therefore none of the company's assets are held as security by the provider of the loan.

| Hire purchase contracts relates to a hire purchase contract which is secured over the asset held under the agreement.

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans | 2,252,377 |  | 1,750,000 |  |

| Hire purchase contracts | 37,050 |  | 103,223 |  |

| Other creditors | 1,258 |  | 11,529 |  |

2,290,685 |  | 1,864,752 |  |

| In 2020 the company obtained finance through the government's Bounce-back Loan Scheme. The scheme provides a government-backed guarantee and therefore none of the company's assets are held as security by the provider of the loan.

| Hire purchase contracts relates to a hire purchase contract which is secured over the asset held under the agreement.

10. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank overdrafts | 622,897 |  | 641,507 |  |

| Bank loans | 2,290,746 |  | 2,318,092 |  |

| Hire purchase contracts | 130,674 |  | 166,520 |  |

3,044,317 |  | 3,126,119 |  |

| Fixed and floating charge secured against all current and future assets that the company holds.

11. | CALLED UP SHARE CAPITAL

| Alloted, issued and fully paid:

| Number: |  | Class: |  | Nominal value: |  | 2025 |  | 2024 |  |

| 30 |  | A |  | 1 |  | £30 |  | £30 |  |

| 15 |  | B |  | 1 |  | £15 |  | £15 |  |

| 45 |  | C |  | 1 |  | £45 |  | £45 |  |

| 5 |  | D |  | 1 |  | £5 |  | £5 |  |

| 5 |  | E |  | 1 |  | £5 |  | £5 |  |