REGISTERED NUMBER: 12023431 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2025

FOR

PHILP FARMING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N D Philp

Mrs V J Philp

REGISTERED OFFICE:

Wheatsheaves

Halls Lane

Waltham St. Lawrence

Reading

Berkshire

RG10 0JD

REGISTERED NUMBER:

12023431 (England and Wales)

ACCOUNTANTS:

Martin and Company

Two Brewers House

50 North Street

Thame

Oxfordshire

OX9 3BH

FIXED ASSETS

Tangible assets

4

609,866

723,057

CURRENT ASSETS

Stocks

1,795

2,443

Debtors

5

18,576

87,719

20,371

90,162

CREDITORS

Amounts falling due within one year

6

166,032

243,989

NET CURRENT LIABILITIES

(145,661

)

(153,827

)

TOTAL ASSETS LESS CURRENT LIABILITIES

464,205

569,230

CREDITORS

Amounts falling due after more than one year

7

(119,444

)

(179,178

)

PROVISIONS FOR LIABILITIES

(152,466

)

(180,764

)

NET ASSETS

192,295

209,288

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

192,195

209,188

192,295

209,288

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th May 2026 and were signed on its behalf by:

N D Philp - Director

Mrs V J Philp - Director

1.	STATUTORY INFORMATION

Philp 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.

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 etc

-

33% on reducing balance and 15% on reducing balance

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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Tractors

Plant and

and

Computer

machinery

combines

equipment

Totals

£

£

£

£

COST

At 1st September 2024

284,787

969,377

5,528

1,259,692

Additions

2,950

-

-

2,950

At 31st August 2025

287,737

969,377

5,528

1,262,642

DEPRECIATION

At 1st September 2024

133,286

399,731

3,618

536,635

Charge for year

23,670

91,841

630

116,141

At 31st August 2025

156,956

491,572

4,248

652,776

NET BOOK VALUE

At 31st August 2025

130,781

477,805

1,280

609,866

At 31st August 2024

151,501

569,646

1,910

723,057

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

16,740

26,465

Other debtors

1,836

61,254

18,576

87,719

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

29,035

76,559

Hire purchase contracts

59,733

97,460

Trade creditors

3,426

6,950

Taxation and social security

48,746

19,394

Other creditors

25,092

43,626

166,032

243,989

National Westminster Bank Plc has a registered charge with Companies House to secure the bank overdraft with a fixed charge over the plant and machinery.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

119,444

179,178

8.	RELATED PARTY DISCLOSURES

At 31st August 2025 the amount owed to the directors of this company total a loan of £4,652 (2024: £4,652). The amount owed to a partnership in which the directors are partners in totals £7,906 (2024: £21,776). These loans are unsecured, interest free and have no fixed repayment date.