Notts Estates Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03409690 (England and Wales)

NOTTS ESTATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

H C Barton

K M Barton

SECRETARY:

H C Barton

REGISTERED OFFICE:

Hall Farm

Saundby

Retford

Nottinghamshire

DN22 9ER

REGISTERED NUMBER:

03409690 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

14 London Road

Newark

Nottinghamshire

NG24 1TW

FIXED ASSETS

Intangible assets

4

-

2,581

Property, plant and equipment

5

729,548

799,627

729,548

802,208

CURRENT ASSETS

Inventories

1,140,179

1,077,952

Debtors

6

268,275

328,909

Cash at bank

32,325

194,453

1,440,779

1,601,314

CREDITORS

Amounts falling due within one year

7

357,167

457,298

NET CURRENT ASSETS

1,083,612

1,144,016

TOTAL ASSETS LESS CURRENT LIABILITIES

1,813,160

1,946,224

CREDITORS

Amounts falling due after more than one year

8

(120,105

)

(161,683

)

PROVISIONS FOR LIABILITIES

(76,811

)

(93,912

)

NET ASSETS

1,616,244

1,690,629

CAPITAL AND RESERVES

Called up share capital

10

150

Retained earnings

1,616,094

1,690,479

SHAREHOLDERS' FUNDS

1,616,244

1,690,629

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 27 May 2026 and were signed on its behalf by:

H C Barton - Director

1.	STATUTORY INFORMATION

Notts Estates 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised when the significant risks and rewards have passed to the customer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company, and that the costs incurred, or to be incurred, in respect of the transaction, can be measured reliably.

Intangible assets

Intangible assets consist of entitlements to the basic payment allowance. The entitlements are recognised at fair value and written off on a straight line basis over the period to 31 December 2028 when the scheme ends.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

no depreciation charged

Plant and machinery etc

-

25% on reducing balance, 15% on reducing balance, 10% on cost, 10% on reducing balance and Straight line over 7 years

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Inventories

Inventories represents the farm valuation which has been valued by a professional valuer at the lower of cost and net realisable value.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

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

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

Basic farm payment

The basic farm payment is recognised in the financial statements in accordance with current H.M. Revenue & Customs guidance.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 November 2024

3,520

Disposals

(3,520

)

At 31 October 2025

-

AMORTISATION

At 1 November 2024

939

Eliminated on disposal

(939

)

At 31 October 2025

-

NET BOOK VALUE

At 31 October 2025

-

At 31 October 2024

2,581

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 November 2024

and 31 October 2025

390,424

629,869

1,020,293

DEPRECIATION

At 1 November 2024

-

220,666

Charge for year

-

70,079

At 31 October 2025

-

290,745

NET BOOK VALUE

At 31 October 2025

390,424

339,124

729,548

At 31 October 2024

390,424

409,203

799,627

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

-

88,729

Other debtors

268,275

240,180

268,275

328,909

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank overdrafts

11,630

10,947

Hire purchase contracts (see note 9)

30,103

54,981

Trade creditors

139,672

164,801

Taxation and social security

-

55,630

Other creditors

175,762

170,939

357,167

457,298

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Bank loans

120,105

131,579

Hire purchase contracts (see note 9)

-

30,104

120,105

161,683

Amounts falling due in more than five years:

Repayable by instalments

Bank loans - more than 5 years

65,530

80,287

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025

2024

£

Net obligations repayable:

Within one year

30,103

54,981

Between one and five years

-

30,104

30,103

85,085

10.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2025

2024

value:

£

150

Ordinary

£1

150

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.