James Fairley & Sons (Farms) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 506752

James Fairley & Sons (Farms) Limited

Filleted Unaudited Financial Statements

For the Year Ended

31 December 2025

James Fairley & Sons (Farms) Limited

Statement of Financial Position

31 December 2025

	2025		2024
Note	£	£	£

Fixed Assets

Intangible assets	5	2,726	2,726
Tangible assets	6	5,126,308	4,823,887
		-------------	-------------
		5,129,034	4,826,613

Current Assets

Stocks		225,189	320,630
Debtors	7	144,833	7,574
Cash at bank and in hand		52,448	11,128
		----------	----------
		422,470	339,332

Creditors: amounts falling due within one year	8	600,698		513,938
		----------		----------
Net Current Liabilities			178,228	174,606
			-------------	-------------
Total Assets Less Current Liabilities			4,950,806	4,652,007

Creditors: amounts falling due after more than one year	9		1,007,270	920,375

Provisions

Taxation including deferred tax	360,130	282,355
	-------------	-------------
Net Assets	3,583,406	3,449,277
	-------------	-------------

James Fairley & Sons (Farms) Limited

Statement of Financial Position (continued)

31 December 2025

	2025		2024
Note	£	£	£

Capital and Reserves

Called up share capital	24,000	120,000
Revaluation reserve	1,003,831	1,007,630
Capital redemption reserve	96,000	–
Other reserves	190,603	190,603
Profit and loss account	2,268,972	2,131,044
	-------------	-------------
Shareholders Funds	3,583,406	3,449,277
	-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31st December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 19 May 2026 , and are signed on behalf of the board by:

J F Fairley

Director

Company registration number: 506752

James Fairley & Sons (Farms) Limited

Notes to the Financial Statements

Year Ended 31st December 2025

1. General Information

The company is a private company limited by shares, registered in England. The address of the registered office is Wolves Hall, Tendring, Clacton-on-Sea, Essex, CO16 0DG.

2. Statement of Compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and Key Sources of Estimation Uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue Recognition

The turnover shown in the profit and loss account represents amounts invoiced during the year and government farming subsidies.

Income Tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Operating Leases

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Intangible Assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Tangible Assets

All fixed assets are initially recorded at cost. The freehold land and buildings were valued at their open market value for existing use on 6th February 1998 by Fenn Wright, chartered surveyors. The directors have frozen this revaluation and do not intend to carry out any future revaluations.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Plant & machinery	-	10% straight line
Motor vehicles	-	12% straight line
Combines & tractors	-	12 % straight line

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance Leases and Hire Purchase Contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial Instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Employee Numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Intangible Assets

	Sugar Beet quota
	£
Cost
At 1st January 2025 and 31st December 2025	2,726
	-------
Amortisation
At 1st January 2025 and 31st December 2025	–
	-------
Carrying amount
At 31st December 2025	2,726
	-------
At 31st December 2024	2,726
	-------

6. Tangible Assets

	Land and buildings	Plant and machinery	Motor vehicles	Combines & tractors	Total
	£	£	£	£	£
Cost
At 1st January 2025	4,760,684	614,908	30,143	558,881	5,964,616
Additions	–	198,000	–	193,278	391,278
Disposals	–	( 75,000)	–	(209,260)	( 284,260)
	-------------	----------	---------	----------	-------------
At 31st December 2025	4,760,684	737,908	30,143	542,899	6,071,634
	-------------	----------	---------	----------	-------------
Depreciation
At 1st January 2025	240,123	391,818	28,783	480,005	1,140,729
Charge for the year	12,789	24,638	1,360	16,320	55,107
Disposals	–	( 41,250)	–	(209,260)	( 250,510)
	-------------	----------	---------	----------	-------------
At 31st December 2025	252,912	375,206	30,143	287,065	945,326
	-------------	----------	---------	----------	-------------
Carrying amount
At 31st December 2025	4,507,772	362,702	–	255,834	5,126,308
	-------------	----------	---------	----------	-------------
At 31st December 2024	4,520,561	223,090	1,360	78,876	4,823,887
	-------------	----------	---------	----------	-------------

Included in freehold land and buildings is land valued at £4,133,951 (2024: £4,133,951) which is not depreciated .

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold property
	£
At 31st December 2025
Aggregate cost	3,633,143
Aggregate depreciation	(129,202)
	-------------
Carrying value	3,503,941
	-------------

At 31st December 2024
Aggregate cost	3,633,143
Aggregate depreciation	(120,212)
	-------------
Carrying value	3,512,931
	-------------

7. Debtors

	2025	2024
	£	£
Trade debtors	99,348	–
Other debtors	45,485	7,574
	----------	-------
	144,833	7,574
	----------	-------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	83,315	87,243
Trade creditors	18,271	5,397
Corporation tax	–	21,124
Social security and other taxes	102	32
Other creditors	499,010	400,142
	----------	----------
	600,698	513,938
	----------	----------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	780,938	871,527
Other creditors	226,332	48,848
	-------------	----------
	1,007,270	920,375
	-------------	----------

Included within creditors: amounts falling due after more than one year is an amount of £481,005 (2024: £583,907) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.