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Company No: 07854949 (England and Wales)

# MICHELMERSH MANOR FARM LIMITED

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

MICHELMERSH MANOR FARM LIMITED

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

MICHELMERSH MANOR FARM LIMITED

## COMPANY INFORMATION

For the financial year ended 31 March 2025
MICHELMERSH MANOR FARM LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 31 March 2025

DIRECTORS | Mrs F Drake
| Mr J Drake

REGISTERED OFFICE | Manor Farm House
| Manor Farm Lane
| Michelmersh
| Romsey
| Hampshire
| SO51 0NT
| United Kingdom

COMPANY NUMBER | 07854949 (England and Wales)

ACCOUNTANT | S&W Partners LLP
| Old Library Chambers
| 21 Chipper Lane
| Salisbury
| Wiltshire
| SP1 1BG

MICHELMERSH MANOR FARM LIMITED

## BALANCE SHEET

As at 31 March 2025
MICHELMERSH MANOR FARM LIMITED

## BALANCE SHEET (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 4 | 580,535 |  | 570,345
|  | 580,535 |  | 570,345
Current assets |  |  |  |
Stocks |  | 561,653 |  | 562,428
Debtors | 5 | 411,321 |  | 405,965
Cash at bank and in hand |  | 79,427 |  | 18,900
|  | 1,052,401 |  | 987,293
Creditors: amounts falling due within one year | 6 | ( 1,428,191) |  | ( 1,472,784)
Net current liabilities |  | (375,790) |  | (485,491)
Total assets less current liabilities |  | 204,745 |  | 84,854
Creditors: amounts falling due after more than one year | 7 | ( 65,793) |  | ( 60,000)
Net assets |  | 138,952 |  | 24,854
Capital and reserves |  |  |  |
Called-up share capital |  | 100 |  | 100
Profit and loss account |  | 138,852 |  | 24,754
Total shareholders' funds |  | 138,952 |  | 24,854

For the financial year ending 31 March 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Michelmersh Manor Farm Limited (registered number: 07854949) were approved and authorised for issue by the Board of Directors on 15 March 2026. They were signed on its behalf by:

Mrs F Drake Director |

MICHELMERSH MANOR FARM LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
MICHELMERSH MANOR FARM LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 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

Michelmersh Manor Farm 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 Manor Farm House, Manor Farm Lane, Michelmersh, Romsey, Hampshire, SO51 0NT, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

##### Going concern

At the year end, the Company had net assets. As the shareholders will continue to financially support the company for the foreseeable future, the directors consider it appropriate to prepare the statutory accounts on the going concern basis.

##### Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.
Turnover represents the amount receivable from the sale of produce, crops and livestock relating to the year.

##### Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is
directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:

Leasehold improvements | 10 years straight line
Plant and machinery | 20 % reducing balance
Vehicles | 20 % reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

##### 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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

##### Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Basic Payment entitlements are stated at cost and are amortised over their estimated economic life.

##### Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and are depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the statement of income and retained earnings.

##### Stocks

Stock is valued at the lower of cost and net realisable value. Where accurate cost figures are not available, the deemed cost of production has been used. For cattle this is 60% of market value, for sheep this is 75% of market value.

##### Taxation

The tax expense represents the sum of the tax currently payable and any deferred tax.
The current tax charge is based on the taxable profit for the year. Taxable profit differs from net profit as reported in the statement of income and retained earnings because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 5 |  | 5

#### 3. Intangible assets

| Other intangible assets |  | Total
| £ |  | £
Cost |  |  |
At 01 April 2024 | 28,686 |  | 28,686
Disposals | ( 28,686) |  | ( 28,686)
At 31 March 2025 | 0 |  | 0
Accumulated amortisation |  |  |
At 01 April 2024 | 28,686 |  | 28,686
Disposals | ( 28,686) |  | ( 28,686)
At 31 March 2025 | 0 |  | 0
Net book value |  |  |
At 31 March 2025 | 0 |  | 0
At 31 March 2024 | 0 |  | 0

#### 4. Tangible assets

| Leasehold improve- ments |  | Plant and machinery |  | Vehicles |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 April 2024 | 187,455 |  | 871,565 |  | 33,050 |  | 1,092,070
Additions | 0 |  | 80,215 |  | 5,500 |  | 85,715
Disposals | 0 |  | ( 1,050) |  | ( 5,000) |  | ( 6,050)
At 31 March 2025 | 187,455 |  | 950,730 |  | 33,550 |  | 1,171,735
Accumulated depreciation |  |  |  |  |  |  |
At 01 April 2024 | 6,571 |  | 498,445 |  | 16,709 |  | 521,725
Charge for the financial year | 939 |  | 69,212 |  | 3,275 |  | 73,426
Disposals | 0 |  | 0 |  | ( 3,951) |  | ( 3,951)
At 31 March 2025 | 7,510 |  | 567,657 |  | 16,033 |  | 591,200
Net book value |  |  |  |  |  |  |
At 31 March 2025 | 179,945 |  | 383,073 |  | 17,517 |  | 580,535
At 31 March 2024 | 180,884 |  | 373,120 |  | 16,341 |  | 570,345

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 96,238 |  | 95,193
Amounts owed by Group undertakings | 265,293 |  | 271,365
Other debtors | 49,790 |  | 39,407
| 411,321 |  | 405,965

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

| 2025 |  | 2024
| £ |  | £
Trade creditors | 111,764 |  | 129,171
Other loans | 10,000 |  | 10,000
Accruals | 9,912 |  | 9,431
Obligations under finance leases and hire purchase contracts | 39,523 |  | 23,727
Other creditors | 1,256,992 |  | 1,300,455
| 1,428,191 |  | 1,472,784

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

| 2025 |  | 2024
| £ |  | £
Obligations under finance leases and hire purchase contracts | 64,126 |  | 48,333
Other creditors | 1,667 |  | 11,667
| 65,793 |  | 60,000

#### 8. Related party transactions

At the end of the year, the company owed the directors £1,102,272 (2024: £1,145,338). This amount is interest free and repayable on demand.