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Registered number: 05979303
I S J Farming Limited
Financial Statements
For The Year Ended 31 December 2025
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 05979303
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,737,208 1,646,586
1,737,208 1,646,586
CURRENT ASSETS
Stocks 5 9,000 49,290
Debtors 6 148,343 13,451
Cash at bank and in hand 62 178
157,405 62,919
Creditors: Amounts Falling Due Within One Year 7 (721,387 ) (752,548 )
NET CURRENT ASSETS (LIABILITIES) (563,982 ) (689,629 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,173,226 956,957
Creditors: Amounts Falling Due After More Than One Year 8 (723,571 ) (648,344 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (87,824 ) (87,824 )
NET ASSETS 361,831 220,789
CAPITAL AND RESERVES
Called up share capital 10 2 2
Income Statement 361,829 220,787
SHAREHOLDERS' FUNDS 361,831 220,789
Page 1
Page 2
For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Ian Johnson
Director
28/04/2026
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
I S J Farming Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05979303 . The registered office is The Greenhouse, 106-108 Ashbourne Road, Derby, DE22 3AG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 4% straight line
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 33% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2025 1,580,706 280,122 80,450 186,826
Additions 72,965 39,297 39,900 -
Disposals (10,000 ) - (32,250 ) -
As at 31 December 2025 1,643,671 319,419 88,100 186,826
Depreciation
As at 1 January 2025 95,053 184,665 55,429 146,371
Provided during the period 6,900 15,654 13,694 6,068
Disposals - - (21,500 ) -
As at 31 December 2025 101,953 200,319 47,623 152,439
Net Book Value
As at 31 December 2025 1,541,718 119,100 40,477 34,387
As at 1 January 2025 1,485,653 95,457 25,021 40,455
Computer Equipment Total
£ £
Cost
As at 1 January 2025 20,614 2,148,718
Additions 1,616 153,778
Disposals - (42,250 )
As at 31 December 2025 22,230 2,260,246
Depreciation
As at 1 January 2025 20,614 502,132
Provided during the period 90 42,406
Disposals - (21,500 )
As at 31 December 2025 20,704 523,038
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 December 2025 1,526 1,737,208
As at 1 January 2025 - 1,646,586
5. Stocks
2025 2024
£ £
Stock 9,000 49,290
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 128,569 178
Prepayments and accrued income 9,242 8,757
VAT 10,532 4,516
148,343 13,451
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 22,748 19,423
Trade creditors 81,990 54,707
Bank loans and overdrafts 149,535 219,845
Corporation tax 2,227 -
Other creditors 1,999 1,999
Directors' loan accounts 462,888 456,574
721,387 752,548
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 39,478 35,691
Bank loans 684,093 612,653
723,571 648,344
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 22,748 19,423
Later than one year and not later than five years 39,478 35,691
62,226 55,114
62,226 55,114
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10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 2 2
11. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from directors:
As at 1 January 2025 Amounts advanced Amounts repaid Amounts written off As at 31 December 2025
£ £ £ £ £
Mr Ian Johnson 456,574 155,766 147,510 - 448,318
The above loan is unsecured, interest free and repayable on demand.
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