ACCOUNTS - Final Accounts preparation

Registered number: 08473630

JOHN THATCHER FARMING LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2025

JOHN THATCHER FARMING LIMITED

REGISTERED NUMBER:08473630

STATEMENT OF FINANCIAL POSITION

AS AT 31 AUGUST 2025

		2025		2024
Note		£		£

FIXED ASSETS
Tangible assets	4		568,121		673,421
CURRENT ASSETS
Stocks	5	63,284		57,961
Debtors: amounts falling due within one year	6	201,037		290,272
Cash at bank and in hand		136		2,451
		264,457		350,684
Creditors: amounts falling due within one year	7	(807,599)		(817,545)
NET CURRENT LIABILITIES			(543,142)		(466,861)
TOTAL ASSETS LESS CURRENT LIABILITIES			24,979		206,560
PROVISIONS FOR LIABILITIES
Deferred tax	8		(94,713)		(110,335)
NET (LIABILITIES)/ASSETS			(69,734)		96,225

CAPITAL AND RESERVES
Called up share capital	9	100,000	100,000
Profit and loss account	10	(169,734)	(3,775)
		(69,734)	96,225

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr M Thatcher

Director

Date: 19 May 2026

The notes on pages 2 to 9 form part of these financial statements.

Page 1

JOHN THATCHER FARMING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1.	GENERAL INFORMATION

John Thatcher Farming Limited is a limited liability company limited by shares incorporated in England and Wales. The registered office is Myrtle Farm, Station Road, Sandford, Winscombe, Somerset, BS25 5RA.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Thatchers (Myrtle Farm) Limited as at 31 August 2025 and these financial statements may be obtained from Myrtle Farm, Station Road, Sandford, Winscombe, Somerset, BS25 5RA..

2.3

GOING CONCERN

At the period end the company had net current liabilities of £543,142 (2024: £466,861). Included within creditors falling due within one year is £703,651 (2024: £750,054) due to other group companies. The directors of the ultimate parent company of the group have confirmed that repayment of these balances will not be sought if it is detrimental to the company's ability to continue as a going concern. Furthermore they have confirmed that further financial support will be available to the company as required. Therefore, the directors consider that there is no material uncertainty over the ability of the company to adopt the going concern basis of preparation of the financial statements.

Page 2

JOHN THATCHER FARMING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.4

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

LEASED ASSETS: THE COMPANY AS LESSEE

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

2.6

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

JOHN THATCHER FARMING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.7

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.8

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

				Plant and machinery	-	20% reducing balance
				Motor vehicles	-	25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

JOHN THATCHER FARMING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.9

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.10

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.11

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.12

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 8 (2024:9).

Page 5

JOHN THATCHER FARMING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

4.	TANGIBLE FIXED ASSETS

	Plant and machinery	Motor vehicles	Total
	£	£	£
COST OR VALUATION
At 1 September 2024	1,964,709	83,856	2,048,565
Additions	29,551	27,750	57,301
Disposals	(23,916)	-	(23,916)
At 31 August 2025	1,970,344	111,606	2,081,950
DEPRECIATION
At 1 September 2024	1,324,026	51,118	1,375,144
Charge for the year on owned assets	129,602	32,747	162,349
Disposals	(23,664)	-	(23,664)
At 31 August 2025	1,429,964	83,865	1,513,829
NET BOOK VALUE
At 31 August 2025	540,380	27,741	568,121
At 31 August 2024	640,683	32,738	673,421

Page 6

JOHN THATCHER FARMING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

5.	STOCKS
		2025	2024
		£	£

Finished goods and goods for resale	63,284	57,961
	63,284	57,961

DEBTORS

					2025	2024
					£	£


Trade debtors	16,802	-
Amounts owed by group undertakings	157,848	220,833
Other debtors	-	4,000
Prepayments and accrued income	26,387	65,439
	201,037	290,272

Amounts owed by group undertakings are unsecured and repayable on demand.

7.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2025	2024
		£	£

Amounts owed to group undertakings	703,651	750,054
Corporation tax	32,992	-
Other taxation and social security	15,157	11,596
Other creditors	2,367	2,233
Accruals and deferred income	53,432	53,662
	807,599	817,545

Amounts owed to group undertakings are unsecured and repayable on demand.

Page 7

JOHN THATCHER FARMING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

8.	DEFERRED TAXATION

		2025
		£

	At beginning of year	(110,335)
	Charged to profit or loss	15,622
	AT END OF YEAR	(94,713)

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

Accelerated capital allowances	(95,305)	(110,605)
Short term timing differences	592	270
	(94,713)	(110,335)

9.	SHARE CAPITAL
		2025	2024
		£	£

ALLOTTED, CALLED UP AND FULLY PAID

100,000 (2024:100,000) Ordinary shares of £1.00 each	100,000	100,000

10.

RESERVES

Profit and loss account

The company's only reserve is the profit and loss account, which represents accumulated profits or losses of the company, after dividends paid to shareholders.

11.	RELATED PARTY TRANSACTIONS
	The company is a wholly owned subsidiary of Thatchers (Myrtle Farm) Limited, and as such has taken advantage of the exemption contained in FRS 102 33.1A not to disclose transactions entered into between two or more members of a wholly owned group.

Page 8

JOHN THATCHER FARMING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

12.	CONTROLLING PARTY

The immediate and ultimate controlling parent undertaking is Thatchers (Myrtle Farm) Limited whose registered office is Myrtle Farm, Sandford, Winscombe, BS25 5RA. Thatchers (Myrtle Farm) Limited produces the smallest and largest consolidated financial statements that include the results and balances of the company. The consolidated financial statements may be obtained from Companies House, Crown Way, Cardiff, CG14 3UZ. The ultimate controlling party is the directors of Thatchers (Myrtle Farm) Limited, who jointly own 100% of the share capital of the company.

13.	AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 August 2025 was unqualified.

The audit report was signed on 27 May 2026 by Ria Burridge FCCA (Senior statutory auditor) on behalf of Bishop Fleming Audit Limited.

Page 9