Company Registration No. 03332160 (England and Wales)
Cutsdean Farms Limited
Unaudited financial statements
for the year ended 5 April 2025
Pages for filing with the registrar
Cutsdean Farms Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
Cutsdean Farms Limited
Balance sheet
As at 5 April 2025
05 April 2025
1
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
538,840
541,665
Investment property
4
3,550,000
3,550,000
Investments
5
1
1
4,088,841
4,091,666
Current assets
Debtors
6
622,594
611,064
Creditors: amounts falling due within one year
7
(379,671)
(332,491)
Net current assets
242,923
278,573
Total assets less current liabilities
4,331,764
4,370,239
Provisions for liabilities
8
(415,009)
(415,009)
Net assets
3,916,755
3,955,230
Capital and reserves
Called up share capital
9
1,550,002
1,550,002
Profit and loss reserves
2,366,753
2,405,228
Total equity
3,916,755
3,955,230

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 5 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Cutsdean Farms Limited
Balance sheet (continued)
As at 5 April 2025
05 April 2025
2
The financial statements were approved and signed by the director and authorised for issue on 2 April 2026.
Lord Wemyss
Director
Company Registration No. 03332160
Cutsdean Farms Limited
Notes to the financial statements
For the year ended 5 April 2025
3
1
Accounting policies
Company information

Cutsdean Farms Limited is a private company limited by shares incorporated in England and Wales. The registered office is Stanway House, Stanway, Cheltenham, Gloucestershire, GL4 5PQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

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 financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the director has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

The Basic Payment Scheme income is recognised once all conditions attached to the Basic Payment Scheme have been met.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Freehold land and buildings
Nil
Property improvements
Nil - 10% Straight line
Motor vehicles, implements and
equipment
20% Straight line
Cutsdean Farms Limited
Notes to the financial statements (continued)
For the year ended 5 April 2025
1
Accounting policies (continued)
4

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.

1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Cash at bank and in hand

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 current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Cutsdean Farms Limited
Notes to the financial statements (continued)
For the year ended 5 April 2025
1
Accounting policies (continued)
5
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts 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. A m ounts 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.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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 reporting end date.

Deferred tax
Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between taxable profits and results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.
A net deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is not recognised when fixed assets are revalued unless by the balance sheet date there is a binding agreement to sell the revalued assets and the gain or loss expected to arise on sale has been recognised in the financial statements. Neither is deferred tax recognised when fixed assets are sold and it is more likely than not that the taxable gain will be rolled over, being charged to tax only if and when the replacement assets are sold.
Deferred tax is measured on a non-discounted basis at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Cutsdean Farms Limited
Notes to the financial statements (continued)
For the year ended 5 April 2025
1
Accounting policies (continued)
6
1.11
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
1
1
3
Tangible fixed assets
Freehold land and buildings
Property improvements
Motor vehicles, implements and
equipment
Total
£
£
£
£
Cost
At 6 April 2024 and 5 April 2025
522,479
54,065
182,077
758,621
Depreciation and impairment
At 6 April 2024
-
0
34,879
182,077
216,956
Depreciation charged in the year
-
0
2,825
-
0
2,825
At 5 April 2025
-
0
37,704
182,077
219,781
Carrying amount
At 5 April 2025
522,479
16,361
-
0
538,840
At 5 April 2024
522,479
19,186
-
0
541,665
4
Investment property
2025
£
Fair value
At 6 April 2024 and 5 April 2025
3,550,000
Cutsdean Farms Limited
Notes to the financial statements (continued)
For the year ended 5 April 2025
4
Investment property (continued)
7

Investment property comprises let land at Cutsdean Farm, Stanway. The fair value of the investment property has been arrived at on the basis of a valuation carried out by Martin Andrews MRICS, the company secretary. The valuation was performed in the year ended 5 April 2017 and was on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Fixed asset investments
2025
2024
£
£
Other investments other than loans
1
1
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
169,551
161,722
Corporation tax recoverable
3,202
7,567
Other debtors
449,841
441,775
622,594
611,064
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
199,962
190,403
Trade creditors
4,620
2,511
Taxation and social security
-
0
1,238
Other creditors
175,089
138,339
379,671
332,491
8
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
415,009
415,009
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,550,002
1,550,002
1,550,002
1,550,002
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