REGISTERED NUMBER: 00962965 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2025

FOR

S.J.PHILLIPS & SONS (KEMBLE) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs P M Phillips

N J Phillips

E J Daniels

SECRETARY:

Mrs P M Phillips

REGISTERED OFFICE:

Kilkenny Farm

Bibury

Cirencester

Gloucestershire

GL7 5PD

REGISTERED NUMBER:

00962965 (England and Wales)

ACCOUNTANTS:

Martin and Company

Two Brewers House

50 North Street

Thame

Oxfordshire

OX9 3BH

FIXED ASSETS

Tangible assets

4

4,434,138

4,266,823

Investments

5

2

2

Investment property

6

8,640,000

8,640,000

13,074,140

12,906,825

CURRENT ASSETS

Stocks

7

1,038,887

1,245,342

Debtors

8

466,503

1,537,236

Cash at bank and in hand

3,654,794

8,699

5,160,184

2,791,277

CREDITORS

Amounts falling due within one year

9

1,500,187

758,056

NET CURRENT ASSETS

3,659,997

2,033,221

TOTAL ASSETS LESS CURRENT LIABILITIES

16,734,137

14,940,046

CREDITORS

Amounts falling due after more than one year

10

(2,012,191

)

(3,197,521

)

PROVISIONS FOR LIABILITIES

12

(2,329,442

)

(2,324,959

)

NET ASSETS

12,392,504

9,417,566

CAPITAL AND RESERVES

Called up share capital

2,194

2,194

Fair value reserve

13

6,111,172

6,111,172

Retained earnings

6,279,138

3,304,200

SHAREHOLDERS' FUNDS

12,392,504

9,417,566

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22nd June 2026 and were signed on its behalf by:

N J Phillips - Director

1.	STATUTORY INFORMATION

S.J.Phillips & Sons (Kemble) 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

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

In respect of long-term contracts and contracts for ongoing services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Entitlements have been fully amortised in the current year.

Tangible fixed assets

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

Freehold property

-

4% on cost and 2% on cost

Improvements to property

-

20% on cost, 15% on reducing balance, 10% on cost and 2% on cost

Plant and machinery

-

15% on reducing balance and 10% on cost

Tractors and combines

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance and 15% on reducing balance

Office equipment

-

25% on cost and Straight line over 9 - 15 years

All fixed assets are initially recorded at cost.

Freehold land is not depreciated.

Investment property

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

The directors will review the fair value of the investment property on an annual basis. They will appoint the services of qualified third party experts periodically and as regularly as they deem necessary in order to determine the fair value of the investment property held.

Stocks

Agricultural stock is valued by the directors and is based on the cost of production. Other stocks and work in progress are valued at the lower of cost and net realisable value.

Taxation

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Hire purchase agreements

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1st October 2024

3,077,386

1,427,710

922,607

Additions

-

169,229

193,185

Disposals

-

-

(72,550

)

At 30th September 2025

3,077,386

1,596,939

1,043,242

DEPRECIATION

At 1st October 2024

518,501

881,837

703,877

Charge for year

49

19,170

46,548

Eliminated on disposal

-

-

(70,356

)

At 30th September 2025

518,550

901,007

680,069

NET BOOK VALUE

At 30th September 2025

2,558,836

695,932

363,173

At 30th September 2024

2,558,885

545,873

218,730

Tractors

and

Motor

Office

combines

vehicles

equipment

Totals

£

£

£

£

COST

At 1st October 2024

1,560,097

118,872

7,351

7,114,023

Additions

-

23,664

-

386,078

Disposals

-

(20,650

)

-

(93,200

)

At 30th September 2025

1,560,097

121,886

7,351

7,406,901

DEPRECIATION

At 1st October 2024

654,896

81,355

6,734

2,847,200

Charge for year

135,780

5,967

209

207,723

Eliminated on disposal

-

(11,804

)

-

(82,160

)

At 30th September 2025

790,676

75,518

6,943

2,972,763

NET BOOK VALUE

At 30th September 2025

769,421

46,368

408

4,434,138

At 30th September 2024

905,201

37,517

617

4,266,823

Included within the net book value of £4,434,138 is £613,377 (2024 - £529,184) relating to assets held under hire purchase agreements. The depreciation charged to the financial statements in the period in respect of such assets amounted to £90,917 (2024 - £89,525).

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st October 2024

and 30th September 2025

2

NET BOOK VALUE

At 30th September 2025

2

At 30th September 2024

2

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st October 2024

and 30th September 2025

8,640,000

NET BOOK VALUE

At 30th September 2025

8,640,000

At 30th September 2024

8,640,000

7.

STOCKS

2025

2024

£

£

Valuation

901,737

1,124,442

Biological assets (cattle)

137,150

120,900

1,038,887

1,245,342

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

41,601

186,246

Kilkenny Properties Limited

337,054

332,460

VAT

36,421

21,478

Prepayments and accrued income

51,427

997,052

466,503

1,537,236

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

224,396

246,968

Hire purchase contracts

164,215

142,848

Trade creditors

105,384

116,080

Tax

807,397

167,914

Social security and other taxes

-

9,587

Other creditors

165,577

3,218

Directors' current accounts

737

2,594

Accruals and deferred income

32,481

68,847

1,500,187

758,056

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

231,643

574,396

Bank loans - 2-5 years

740,692

1,222,529

Bank loans - more than 5 years

1,007,806

1,262,612

Hire purchase contracts

32,050

137,984

2,012,191

3,197,521

Amounts falling due in more than five years:

Repayable by instalments

Bank loans - more than 5 years

1,007,806

1,262,612

11.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdraft

-

29,603

Bank loans

2,204,537

3,276,902

2,204,537

3,306,505

12.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

2,329,442

2,324,959

Deferred

tax

£

Balance at 1st October 2024

2,324,959

Provided during year

4,483

Balance at 30th September 2025

2,329,442

13.

RESERVES

Fair

value

reserve

£

At 1st October 2024

and 30th September 2025

6,111,172

14.	RELATED PARTY DISCLOSURES

At the 30 September 2025 the director Mr N J Phillips was owed £358 by the company (2024 : £2,585).

At the 30 September 2025 the company owed Mrs P M Phillips £379 (2024 : £9).

At the 30 September 2025 the company was owed £337,054 (2024: £332,460) from entities related to the directors.

At the 30 September 2025 the company owed £162,565 (2024: £3,218) to entities related to the directors. This was cleared within 9 months of the year end.