REGISTERED NUMBER: 00508453 (England and Wales)

The Whittern Farms Limited

Unaudited Financial Statements

for the Period

1 July 2024 to 31 December 2025

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

JP Hilditch

J Green

IG Hilditch

SECRETARY:

J Green

REGISTERED OFFICE:

Next End Farm

Lyonshall

Kington

Herefordshire

HR5 3JA

REGISTERED NUMBER:

00508453 (England and Wales)

ACCOUNTANTS:

The Hutchinson Partnership Limited

trading as The Hutchinson Partnership

Chartered Accountants

The Bull Pen

Grove Farm

Portway, Burghill

Hereford

HR4 8NF

BANKERS:

Barclays Bank

SOLICITORS:

Lodders Solicitors LLP

Number Ten Elm Court

Arden Street

Stratford upon Avon

CV37 6PA

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and loss account and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Whittern Farms Limited for the period ended 31 December 2025 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of The Whittern Farms Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Whittern Farms Limited and state those matters that we have agreed to state to the Board of Directors of The Whittern Farms Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Whittern Farms Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Whittern Farms Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Whittern Farms Limited. You consider that The Whittern Farms Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of The Whittern Farms Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Hutchinson Partnership Limited

trading as The Hutchinson Partnership

Chartered Accountants

The Bull Pen

Grove Farm

Portway, Burghill

Hereford

HR4 8NF

11 May 2026

FIXED ASSETS

Tangible assets

4

5,950,333

5,785,609

Investments

5

-

4,905

5,950,333

5,790,514

CURRENT ASSETS

Stocks

6

708,950

590,500

Debtors

7

655,696

621,449

Cash at bank

887,439

88,805

2,252,085

1,300,754

CREDITORS

Amounts falling due within one year

8

1,627,295

1,180,661

NET CURRENT ASSETS

624,790

120,093

TOTAL ASSETS LESS CURRENT LIABILITIES

6,575,123

5,910,607

CREDITORS

Amounts falling due after more than one year

9

(2,171,321

)

(2,815,594

)

PROVISIONS FOR LIABILITIES

11

(482,271

)

(106,717

)

NET ASSETS

3,921,531

2,988,296

CAPITAL AND RESERVES

Allotted, issued and fully

paid share capital

51,000

51,000

Undistributable retained

earnings

-

2,953

Distributable retained

earnings

3,870,531

2,934,343

SHAREHOLDERS' FUNDS

3,921,531

2,988,296

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 May 2026 and were signed on its behalf by:

JP Hilditch - Director

1.	STATUTORY INFORMATION

The Whittern Farms 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.

The directors have considered the financial requirements of the company and consider that it will be able to operate within its agreed finance facilities for the next 12 months. The directors therefore consider it appropriate to prepare the accounts on the going concern basis.

These accounts have been prepared for an 18 month period. The period end has been changed so that the accounting period closer aligns to the farming cycle. For this reason some comparative figures shown in the accounts are for a different length period.

Preparation of consolidated financial statements

The financial statements contain information about The Whittern Farms Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 402 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

The company recognises revenue when the significant risks and rewards of ownership have passed to the buyer, when the amount of revenue can be measured reliably, when it is probable that the economic benefits associated with the transaction will flow to the entity and when the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from services is recognised in the accounting periods in which the services are rendered.

The following criteria must be met before revenue is recognised:

Poultry sales are recognised when the birds are accepted by the processing plant.

Arable sales are recognised when the crop is accepted by an intermediary selling company.

Fruit sales are recognised when the crop is delivered to the customer.

Holiday let income is recognised on the commencement of the holiday.

Grant and subsidy revenue is recognised under the accruals basis and so is recognised as income in the period to which the grant relates.

Tangible fixed assets

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 over its estimated useful life, as follows:

Freehold land

Not depreciated

Improvements to property

4% - 10% straight line and

8% - 15% reducing balance

Plant and machinery

8% - 30% reducing balance and

4% straight line

Biological assets

Orchard 6.67% straight line

Blackcurrants 6.67% straight line

Vineyards 5% straight line from production

Orchards, blackcurrants and vineyards are classified as biological assets and are valued at depreciated cost.

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

In stock are broiler chickens and arable growing crop which are valued at cost.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 period 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Investments

Investments are valued at market value. Market values are arrived at as follows -

a. White Heron Boats Limited is dormant and has net liabilities and therefore has no value.

3.

EMPLOYEES

The average number of employees during the period was 21 (2024 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

land

property

machinery

£

£

£

COST

At 1 July 2024

421,700

3,235,408

7,030,298

Additions

-

114,986

958,578

Disposals

-

-

(109,596

)

At 31 December 2025

421,700

3,350,394

7,879,280

DEPRECIATION

At 1 July 2024

-

1,842,485

3,499,349

Charge for period

-

190,626

657,769

Eliminated on disposal

-

-

(92,685

)

At 31 December 2025

-

2,033,111

4,064,433

NET BOOK VALUE

At 31 December 2025

421,700

1,317,283

3,814,847

At 30 June 2024

421,700

1,392,923

3,530,949

Fixtures

and

Biological

fittings

assets

Totals

£

£

£

COST

At 1 July 2024

291,190

575,435

11,554,031

Additions

1,538

30,456

1,105,558

Disposals

-

(13,010

)

(122,606

)

At 31 December 2025

292,728

592,881

12,536,983

DEPRECIATION

At 1 July 2024

232,707

193,881

5,768,422

Charge for period

12,861

62,667

923,923

Eliminated on disposal

-

(13,010

)

(105,695

)

At 31 December 2025

245,568

243,538

6,586,650

NET BOOK VALUE

At 31 December 2025

47,160

349,343

5,950,333

At 30 June 2024

58,483

381,554

5,785,609

The net book value of fixed assets includes £315,922 (2024 - £236,482) in respect of fixed assets held under hire purchase contracts.

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 July 2024

4,905

Disposals

(4,905

)

At 31 December 2025

-

NET BOOK VALUE

At 31 December 2025

-

At 30 June 2024

4,905

The historic aggregate cost of the holdings are £302 (2024: £968).

The investment in Arrow Buying and Marketing Company Limited was disposed in the year.

6.

STOCKS

2025

2024

£

£

Raw materials

59,414

78,492

Growing crop

649,536

512,008

708,950

590,500

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

119,036

115,246

Owed by related parties

204,247

209,971

Loans to employees

14,818

1,200

VAT

38,775

64,723

Prepayments and accrued income

278,820

230,309

655,696

621,449

A loan to a connected company is written down to its estimated recoverable amount.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

339,000

281,076

Hire purchase contracts

81,155

51,675

Trade creditors

659,679

552,966

Social security and other taxes

36,787

12,783

Other creditors

195

195

Directors' loan accounts

220,000

120,000

Accruals and deferred income

279,393

161,966

Grants

11,086

-

1,627,295

1,180,661

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans due in 1 - 2 years

333,000

245,225

Bank loans due in 2 - 5 years

942,763

796,894

Bank loans due after 5 years

363,507

1,209,719

Hire purchase contracts

150,551

160,493

Grants released after 5 years

75,421

-

Directors' loan accounts

264,268

394,256

Accruals and deferred income

-

9,007

Grants released 1 - 5 years

41,811

-

2,171,321

2,815,594

2025

2024

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due after 5 years

363,507

1,209,719

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

1,978,270

2,532,914

Hire purchase contracts

231,706

212,168

2,209,976

2,745,082

The bank loans and any overdraft are secured by a debenture and fixed and floating charge dated 23 March 1997; a legal charge over poultry units F and K at Next End, Lyonshall, Kington, Herefordshire; a legal charge over poultry unit P at Hunton Bridge, Lyonshall, Kington, Herefordshire, a charge over the freehold property comprising the extension to the existing Hunton site together with the 2 new units at Lyonshall, Kington and a legal charge over 46 acres of land at Castle Weir, Lyonshall, Kington. The obligations under hire purchase contracts are secured by the related assets. The director, Mrs JP Hilditch has also provided a guarantee of £50,000 and one of £300,000.

11.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Advanced capital allowances

905,638

860,623

Revenue losses

(423,291

)

(754,890

)

Other timing differences

(76

)

984

482,271

106,717

Deferred

tax

£

Balance at 1 July 2024

106,717

Advanced capital allowances

53,132

Advanced buildings allowances

(8,117

)

Investment revaluation

(1,010

)

Trading losses

331,599

Capital losses

(50

)

Balance at 31 December 2025

482,271

12.	OTHER FINANCIAL COMMITMENTS

The company leases farmland for £75,000 per annum. The lease is in perpetuity.

13.	RELATED PARTY DISCLOSURES

Group accounts are not prepared as the company's subsidiary, White Heron Boats Limited, is a dormant company with net liabilities that are of a level that are trivial to The Whittern Farms Limited. White Heron Boats Limited was dissolved after the year end. White Heron Brands Limited occupies property rent free and is not charged for administration support.

Some of the company's arable inputs and outputs are managed by an associated company.

Included in debtors is a loan due from a company under common control for £197,380 (2024: £206,967). This is interest free and repayable on demand. This is written down to the net asset value of the borrower. The gross amount due is £370,973 (2024: £351,147).

Company directors are owed £484,268 (2024: £514,256) at the year end. £225,000 (2024: Nil) of the loan is interest bearing at a rate of 10% with interest of £20,301 (2024: Nil) being paid in the year. The rest of the loan is interest free and unsecured. It has been agreed that £264,268 (2024: £394,256) of the loan is repayable after more than one year.

Please see the secured debts note for details of personal guarantees given by the directors.