T.P. Gilman Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01279079 (England and Wales)

T.P. GILMAN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

T P Gilman

Mrs T M Gilman

T W P Gilman

SECRETARY:

Mrs T M Gilman

REGISTERED OFFICE:

Manor Farm

Tixover

Stamford

Lincolnshire

PE9 3QL

REGISTERED NUMBER:

01279079 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

14 All Saints Street

Stamford

Lincolnshire

PE9 2PA

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

3,327,580

3,217,710

Investments

6

3,252

3,330,832

3,220,962

CURRENT ASSETS

Stocks

789,008

598,272

Debtors

7

323,043

256,705

Cash at bank

718,535

747,012

1,830,586

1,601,989

CREDITORS

Amounts falling due within one year

8

1,531,025

1,238,160

NET CURRENT ASSETS

299,561

363,829

TOTAL ASSETS LESS CURRENT LIABILITIES

3,630,393

3,584,791

CREDITORS

Amounts falling due after more than one year

9

(2,098,131

)

(2,166,740

)

PROVISIONS FOR LIABILITIES

(144,595

)

(117,169

)

NET ASSETS

1,387,667

1,300,882

CAPITAL AND RESERVES

Called up share capital

11

1,000

Retained earnings

1,386,667

1,299,882

SHAREHOLDERS' FUNDS

1,387,667

1,300,882

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 31 March 2026 and were signed on its behalf by:

T P Gilman - Director

1.	STATUTORY INFORMATION

T.P. Gilman 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Entitlements are being amortised evenly over their estimated useful life of four years.

Intangible assets also include entitlements to the basic payment. The entitlements are recognised at fair value and written off on a straight line basis over the period to 31 December 2019 when the scheme ends.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

10% on reducing balance and no depreciation charged

General equipment

-

15% on reducing balance

Harvesting equipment

-

20% on reducing balance

Cultivation equipment

-

15% on reducing balance

Commercial vehicles

-

25% on reducing balance

Tractors

-

20% on reducing balance

Tangible fixed assets are held at cost less accumulated depreciation.

Stocks

Stocks are stated at the lower of cost and fair value less costs to complete and sell after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year 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 year 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.

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

Fixed asset investments represent long term investments and are stated at cost less impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Entitlements

£

COST

At 1 October 2024

127,237

Disposals

(127,237

)

At 30 September 2025

-

AMORTISATION

At 1 October 2024

127,237

Eliminated on disposal

(127,237

)

At 30 September 2025

-

NET BOOK VALUE

At 30 September 2025

-

At 30 September 2024

-

5.	TANGIBLE FIXED ASSETS

Land and

General

Harvesting

buildings

equipment

£

COST

At 1 October 2024

2,856,338

231,064

270,972

Additions

23,815

17,020

-

Disposals

-

At 30 September 2025

2,880,153

248,084

270,972

DEPRECIATION

At 1 October 2024

130,558

207,308

213,615

Charge for year

4,009

4,728

11,471

Eliminated on disposal

-

At 30 September 2025

134,567

212,036

225,086

NET BOOK VALUE

At 30 September 2025

2,745,586

36,048

45,886

At 30 September 2024

2,725,780

23,756

57,357

Cultivation

Commercial

equipment

vehicles

Tractors

Totals

£

COST

At 1 October 2024

230,411

112,696

676,920

4,378,401

Additions

-

176,073

216,908

Disposals

-

(69,387

)

(69,387

)

At 30 September 2025

230,411

112,696

783,606

4,525,922

DEPRECIATION

At 1 October 2024

170,260

84,702

354,248

1,160,691

Charge for year

9,023

6,998

65,542

101,771

Eliminated on disposal

-

(64,120

)

(64,120

)

At 30 September 2025

179,283

91,700

355,670

1,198,342

NET BOOK VALUE

At 30 September 2025

51,128

20,996

427,936

3,327,580

At 30 September 2024

60,151

27,994

322,672

3,217,710

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 October 2024

and 30 September 2025

3,252

NET BOOK VALUE

At 30 September 2025

3,252

At 30 September 2024

3,252

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

268,742

241,404

Other debtors

54,301

15,301

323,043

256,705

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

35,706

34,535

Hire purchase contracts

102,332

30,000

Trade creditors

634,353

447,375

Taxation and social security

8,821

6,334

Other creditors

749,813

719,916

1,531,025

1,238,160

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Bank loans

2,031,056

2,166,740

Hire purchase contracts

67,075

-

2,098,131

2,166,740

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans over 5 years

1,104,000

1,204,000

Repayable by instalments

Bank loans over 5 years

771,702

812,481

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank loans

2,066,762

2,201,275

Hire purchase contracts

169,407

30,000

2,236,169

2,231,275

The bank loans and overdraft are secured on freehold land owned by the company and freehold land owned by the directors.The hire purchase liability is secured on the asset to which it relates.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

1,000

Ordinary

£1

1,000

12.	OTHER FINANCIAL COMMITMENTS

At 30 September 2025 the company had operating lease commitments over the remaining life of those leases totalling £108,149 (2024: £110,470).