Little Knowle Farm Ltd - Filleted accounts

Registered number

11733213

Little Knowle Farm Ltd

Unaudited Filleted Accounts

31 December 2025

Little Knowle Farm Ltd
Registered number:		11733213
Balance Sheet
as at 31 December 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		22,698			25,365
Tangible assets	4		1,213,060			1,130,376
			1,235,758			1,155,741

Current assets
Stocks		19,800			22,800
Debtors	5	10,979			52,117
Cash at bank and in hand		110,122			14,725
		140,901			89,642

Creditors: amounts falling due within one year	6	(1,144,925)			(1,051,327)

Net current liabilities			(1,004,024)			(961,685)

Total assets less current liabilities			231,734			194,056

Creditors: amounts falling due after more than one year	7		(255,399)			(362,806)



Net liabilities			(23,665)			(168,750)

Capital and reserves
Called up share capital			100			100
Profit and loss account			(23,765)			(168,850)

Shareholders' funds			(23,665)			(168,750)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.



P. Scullard
Director
Approved by the board on 15 April 2026

Little Knowle Farm Ltd
Notes to the Accounts
for the year ended 31 December 2025


1	Accounting policies

	Going concern
	The company has retained losses of £23,765 (2024 - £168,850) and net current liabilities of £1,004,24 (2024 - £961,685). However the company's most significant creditors are its directors and shareholders. They will not seek repayment of the money owed to them until the company has sufficient free cash reserves. They have also given an undertaking to support the company for a period of not less then twelve months from the date of the approval of these accounts. The company is now enjoying positive cashflows from its trading operations as evidenced by the reduction in nth deficit of its Profit and Loss reserve. The director's believe this deficit will be replaced by a surplus during 2026. The going concern accounting convention has therefore been adopted.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			5% straight-line
	Plant and machinery			25% to 33% straight-line
	Fixtures, fittings, tools and equipment			25% straight-line

	Freehold land is not depreciated.
	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					4		4


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 January 2025							40,000
	At 31 December 2025							40,000

	Amortisation
	At 1 January 2025							14,635
	Provided during the year							2,667
	At 31 December 2025							17,302

	Net book value
	At 31 December 2025							22,698
	At 31 December 2024							25,365

	Goodwill is being written off in equal annual instalments over its estimated economic life of 15 years.


4	Tangible fixed assets
		Land and buildings		Plant and machinery		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 January 2025	1,203,990		157,070		73,660		1,434,720
	Additions	65,669		53,665		36,012		155,346
	At 31 December 2025	1,269,659		210,735		109,672		1,590,066

	Depreciation
	At 1 January 2025	128,911		133,264		42,169		304,344
	Charge for the year	40,450		23,522		8,690		72,662
	At 31 December 2025	169,361		156,786		50,859		377,006

	Net book value
	At 31 December 2025	1,100,298		53,949		58,813		1,213,060
	At 31 December 2024	1,075,079		23,806		31,491		1,130,376


5	Debtors					2025		2024
£							£

	Deferred tax asset					10,979		52,117


6	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					40,883		46,078
	Taxation and social security costs					11,825		3,857
	Other creditors					1,092,217		1,001,392
						1,144,925		1,051,327


7	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					255,399		362,806


8	Loans					2025		2024
£							£
	Creditors include:
	Instalments falling due for payment after more than five years					204,876		237,394


	Secured bank loans					296,282		408,884

	The business mortgage is secured by a fixed charge over the freehold land and buildings owned by the company, as well as a fixed and floating charge over all other assets owned by the company.


9	Controlling party

	The company is controlled by P. Scullard and T.D. Scullard, who are its directors and shareholders.


10	Other information

	Little Knowle Farm Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Litte Knowle Farm
	High Bickington
	Umberleigh
	Devon
	EX37 9BJ