REGISTERED NUMBER: 09327054 (England and Wales)

Financial Statements for the Year Ended 31 August 2025

for

Hodgetts Farming Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr F Carter

Mr D J Matthews

SECRETARY:

Mr N Burrows

REGISTERED OFFICE:

4 Queen Square

Bath

Somerset

BA1 2HA

REGISTERED NUMBER:

09327054 (England and Wales)

AUDITORS:

Hardcastle Burton LLP

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

FIXED ASSETS

Tangible assets

4

15,131,359

15,137,019

Investment property

5

7,321,591

7,126,522

22,452,950

22,263,541

CURRENT ASSETS

Stocks

409,543

483,630

Debtors

182,706

162,521

Cash at bank

4,234,297

3,564,296

4,826,546

4,210,447

CREDITORS

Amounts falling due within one year

306,813

202,900

NET CURRENT ASSETS

4,519,733

4,007,547

TOTAL ASSETS LESS CURRENT LIABILITIES

26,972,683

26,271,088

PROVISIONS FOR LIABILITIES

6

202,824

116,669

NET ASSETS

26,769,859

26,154,419

CAPITAL AND RESERVES

Called up share

7

23,210,000

23,210,000

Non-distributable reserves

8

702,986

438,197

Retained earnings

2,856,873

2,506,222

SHAREHOLDERS' FUNDS

26,769,859

26,154,419

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 May 2026 and were signed on its behalf by:

Mr F Carter - Director

1.	STATUTORY INFORMATION

Hodgetts 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 as modified by the revaluation of certain assets.

Going concern

The company has net current assets of £4,519,733 (2024 - £4,007,547).

The directors are confident that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions which impact on the carrying amounts of assets and liabilities. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to carrying amounts of assets and liabilities within the next financial year is addressed below.

Valuation of investment properties:

The valuation of the investment properties is on the basis of a valuation carried out by the directors of the company. The valuation was made on an open market basis by reference to the Nationwide household price index. Where properties have been sold following the year end, the market value of the properties has been reflected in the revaluations.

Turnover

Turnover represents net invoiced sales of goods excluding value added tax. Income from Basic Payment Scheme entitlements is recognised as income of the accounting period in which all eligibility criteria for the season in question are met. The land must be eligible for subsidy for the entire calendar year, hence the income is not recognised until 31 December. Rental income is recognised on an accruals basis, with any rental income received in advance being deferred and any rental income paid in arrears being accrued.

Tangible fixed assets

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

Freehold land and buildings

- No depreciation

Improvements to property

- 10% on reducing balance

Plant and machinery

- 20% on reducing balance

The freehold land and buildings consists almost entirely of agricultural land and no depreciation is provided on land on the basis that the net realisable value of land will not be less than cost. No charge has been made for depreciation on freehold building. This is due to the residual value of the buildings being considered to be not less than the current net book value having regard to the continued repair works that have occurred and that are continuing to take place in forthcoming years.

A review for impairment is carried out if events or changes in circumstances indicate the carrying value of fixed assets may not be recoverable.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2024

15,166,713

Additions

8,993

Disposals

(5,371

)

At 31 August 2025

15,170,335

DEPRECIATION

At 1 September 2024

29,694

Charge for year

9,282

At 31 August 2025

38,976

NET BOOK VALUE

At 31 August 2025

15,131,359

At 31 August 2024

15,137,019

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2024

7,126,522

Disposals

(184,636

)

Revaluations

379,705

At 31 August 2025

7,321,591

NET BOOK VALUE

At 31 August 2025

7,321,591

At 31 August 2024

7,126,522

Investment property consists of the following:

£

Let farmland & buildings

4,947,511

Let residential property & other

2,374,080

7,321,591

Fair value at 31 August 2025 is represented by:

£

Valuation in 2017

10,000

Valuation in 2018

6,000

Valuation in 2020

12,000

Valuation in 2021

253,677

Valuation in 2022

312,698

Valuation in 2023

(59,652

)

Valuation in 2024

(9,336

)

Valuation in 2025

379,705

Cost

6,416,499

7,321,591

If investment property had not been revalued it would have been included at the following historical cost:

31.8.25

31.8.24

£

£

Cost

6,416,499

6,572,340

Investment property was valued on an open market value basis on 31 August 2025 by the directors.

6.	PROVISIONS FOR LIABILITIES

31.8.25

31.8.24

£

£

Deferred tax

Accelerated capital allowances

718

685

Investment property revalued

202,106

115,984

202,824

116,669

Deferred

tax

£

Balance at 1 September 2024

116,669

Provided during year

86,155

Balance at 31 August 2025

202,824

7.	CALLED UP SHARE

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.25

31.8.24

value:

£

£

23,210,000

Ordinary

£1

23,210,000

23,210,000

8.

RESERVES

Non-distribut

reserves

£

At 1 September 2024

438,197

Revaluation of properties

264,789

At 31 August 2025

702,986

The revaluation of properties represents the net movement of the revaluation gain, disposal of property and deferred tax movement on investment property.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Denise Lindsell FCA (Senior Statutory Auditor)

for and on behalf of Hardcastle Burton LLP