REGISTERED NUMBER: 06340270 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2025

FOR

SIMEON MORGAN FARMING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Morgan

Mrs L M Morgan

SECRETARY:

Martin and Company (Company Secretaries) Limited

REGISTERED OFFICE:

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

REGISTERED NUMBER:

06340270 (England and Wales)

ACCOUNTANTS:

Martin and Company

Two Brewers House

50 North Street

Thame

Oxfordshire

OX9 3BH

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,291,527

1,466,721

1,291,527

1,466,721

CURRENT ASSETS

Stocks

349,077

545,926

Debtors

6

269,679

94,634

618,756

640,560

CREDITORS

Amounts falling due within one year

7

745,972

747,540

NET CURRENT LIABILITIES

(127,216

)

(106,980

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,164,311

1,359,741

CREDITORS

Amounts falling due after more than one year

8

(187,100

)

(333,819

)

PROVISIONS FOR LIABILITIES

(318,521

)

(366,680

)

NET ASSETS

658,690

659,242

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

658,590

659,142

SHAREHOLDERS' FUNDS

658,690

659,242

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th May 2026 and were signed on its behalf by:

S J Morgan - Director

1.	STATUTORY INFORMATION

Simeon Morgan Farming 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.

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 two years.

Tangible fixed assets

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

Plant and machinery

-

12.5% on reducing balance

Motor vehicles

-

25% on reducing balance

Tractors and combines

-

12.5% on reducing balance

Office equipment

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, 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 Statement of Income and Retained Earnings, 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.

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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st September 2024

and 31st August 2025

1,502

AMORTISATION

At 1st September 2024

and 31st August 2025

1,502

NET BOOK VALUE

At 31st August 2025

-

At 31st August 2024

-

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

property

machinery

vehicles

£

£

£

COST

At 1st September 2024

-

716,989

9,495

Additions

17,753

124,200

-

Disposals

-

(34,795

)

-

At 31st August 2025

17,753

806,394

9,495

DEPRECIATION

At 1st September 2024

-

363,057

1,353

Charge for year

-

51,606

2,035

Eliminated on disposal

-

(27,744

)

-

At 31st August 2025

-

386,919

3,388

NET BOOK VALUE

At 31st August 2025

17,753

419,475

6,107

At 31st August 2024

-

353,932

8,142

Tractors

and

Office

combines

equipment

Totals

£

£

£

COST

At 1st September 2024

1,726,406

5,110

2,458,000

Additions

-

800

142,753

Disposals

(215,554

)

-

(250,349

)

At 31st August 2025

1,510,852

5,910

2,350,404

DEPRECIATION

At 1st September 2024

623,888

2,981

991,279

Charge for year

118,030

804

172,475

Eliminated on disposal

(77,133

)

-

(104,877

)

At 31st August 2025

664,785

3,785

1,058,877

NET BOOK VALUE

At 31st August 2025

846,067

2,125

1,291,527

At 31st August 2024

1,102,518

2,129

1,466,721

Of the plant and machinery and tractors and combines assets shown above £895,230 of the net book value (2024: £1,203,551) relates to assets held under hire purchase contracts and £150,623 of the depreciation charge for year (2024: £141,216) relates to assets held under hire purchase contracts.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

258,452

61,148

Other debtors

1,500

-

VAT

-

26,034

Prepayments and accrued income

9,727

7,452

269,679

94,634

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

134,603

184,338

Hire purchase contracts

191,416

253,581

Trade creditors

40,177

77,121

Corporation tax

20,153

-

Social security and other taxes

2,747

2,946

VAT

30,083

-

Other creditors

719

154

Directors' current accounts

313,019

153,550

Accruals and deferred income

13,055

75,850

745,972

747,540

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bounce Back loan

-

9,145

Hire purchase contracts

187,100

324,674

187,100

333,819