Tom Gilman Farms Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03934610 (England and Wales)

TOM GILMAN FARMS 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

8

DIRECTORS:

T P Gilman

T W P Gilman

Mrs J H Gilman

SECRETARY:

T P Gilman

REGISTERED OFFICE:

Coppice Farm

Wing Road

Glaston

Oakham

Rutland

LE15 9BY

REGISTERED NUMBER:

03934610 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

14 All Saints Street

Stamford

Lincolnshire

PE9 2PA

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

2,781,604

2,232,577

Investments

6

20

2,781,624

2,232,597

CURRENT ASSETS

Stocks

882,724

804,319

Debtors

7

254,613

105,140

Cash at bank

286,854

268,963

1,424,191

1,178,422

CREDITORS

Amounts falling due within one year

8

908,200

664,271

NET CURRENT ASSETS

515,991

514,151

TOTAL ASSETS LESS CURRENT LIABILITIES

3,297,615

2,746,748

CREDITORS

Amounts falling due after more than one year

9

(1,929,344

)

(1,403,980

)

PROVISIONS FOR LIABILITIES

(137,315

)

(121,699

)

NET ASSETS

1,230,956

1,221,069

CAPITAL AND RESERVES

Called up share capital

11

100

Retained earnings

1,230,856

1,220,969

SHAREHOLDERS' FUNDS

1,230,956

1,221,069

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 W P Gilman - Director

1.	STATUTORY INFORMATION

Tom Gilman 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.

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.

Intangible assets 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.

Freehold property

-

no depreciation charged

Improvements to property

-

10% on reducing balance

Harvest equipment

-

20% on reducing balance

General equipment

-

15% on reducing balance

Cultivating equipment

-

15% on reducing balance

Motor vehicles

-

20% 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.

Current asset investments are shown at a year end valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Entitlements

£

COST

At 1 October 2024

101,320

Disposals

(101,320

)

At 30 September 2025

-

AMORTISATION

At 1 October 2024

101,320

Eliminated on disposal

(101,320

)

At 30 September 2025

-

NET BOOK VALUE

At 30 September 2025

-

At 30 September 2024

-

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Harvest

General

property

equipment

£

COST

At 1 October 2024

1,721,959

156,225

214,250

311,172

Additions

416,686

73,163

-

3,300

Disposals

-

At 30 September 2025

2,138,645

229,388

214,250

314,472

DEPRECIATION

At 1 October 2024

-

136,466

157,140

240,475

Charge for year

-

1,976

11,422

10,874

Eliminated on disposal

-

At 30 September 2025

-

138,442

168,562

251,349

NET BOOK VALUE

At 30 September 2025

2,138,645

90,946

45,688

63,123

At 30 September 2024

1,721,959

19,759

57,110

70,697

Cultivating

Motor

equipment

vehicles

Tractors

Totals

£

COST

At 1 October 2024

121,805

144,357

647,625

3,317,393

Additions

-

153,673

646,822

Disposals

-

(55,670

)

(55,670

)

At 30 September 2025

121,805

144,357

745,628

3,908,545

DEPRECIATION

At 1 October 2024

89,079

104,873

356,783

1,084,816

Charge for year

4,909

7,897

58,167

95,245

Eliminated on disposal

-

(53,120

)

(53,120

)

At 30 September 2025

93,988

112,770

361,830

1,126,941

NET BOOK VALUE

At 30 September 2025

27,817

31,587

383,798

2,781,604

At 30 September 2024

32,726

39,484

290,842

2,232,577

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 October 2024

and 30 September 2025

20

NET BOOK VALUE

At 30 September 2025

20

At 30 September 2024

20

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

146,092

69,335

Other debtors

108,521

35,805

254,613

105,140

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

30,513

-

Hire purchase contracts

106,312

33,980

Trade creditors

410,283

247,765

Taxation and social security

17,216

44,942

Other creditors

343,876

337,584

908,200

664,271

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Bank loans

1,862,269

1,400,000

Hire purchase contracts

67,075

3,980

1,929,344

1,403,980

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans

800,000

1,000,000

Repayable by instalments

Bank loans more 5 yr by instal

519,984

-

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank loans

1,892,782

1,400,000

Hire purchase contracts

173,387

37,960

2,066,169

1,437,960

The bank loans and overdraft are secured on a fixed and floating charge over the assets of the company, land owned by a director and his wife, land owned by the parents of a director's wife and a personal guarantee given by a director.The hire purchase liabilities are secured on the assets to which they relate.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

100

Ordinary

£1

100

12.	OTHER FINANCIAL COMMITMENTS

At 30 September 2025 the company had operating lease commitments over the remaining life of those leases totalling £184,957 (2024: £184,957).

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2025 and 30 September 2024:

2025

2024

£

T W P Gilman and Mrs J H Gilman

Balance outstanding at start of year

1,127

13,707

Amounts advanced

-

103,625

Amounts repaid

(1,127

)

(116,205

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

1,127

Loans to directors are charged to interest at 2.25% (20234 2.25%) per annum and are repayable on demand.