REGISTERED NUMBER: 00820342 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

FOR

Lower Cholwell Farm Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

M Cleave

P Cleave

D Cleave

Mrs P Cleave

Secretary:

P Cleave

Registered office:

Abacus House

129 North Hill

Plymouth

Devon

PL4 8JY

Business address:

Lower Cholwell Farm

Harberton

Totnes

Devon

TQ9 7RZ

Registered number:

00820342 (England and Wales)

Accountants:

Websters

129 North Hill

Plymouth

Devon

PL4 8JY

Solicitors:

Kitsons

2 Vaughan Parade

Torquay

Devon

TQ2 5EF

Fixed assets

Tangible assets

4

261,552

264,476

Current assets

Debtors

5

60,335

49,210

Cash at bank

79,588

109,704

139,923

158,914

Creditors

Amounts falling due within one year

6

4,222

5,895

Net current assets

135,701

153,019

Total assets less current liabilities

397,253

417,495

Capital and reserves

Called up share capital

7

1,000

1,000

Retained earnings

396,253

416,495

Shareholders' funds

397,253

417,495

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2026 and were signed on its behalf by:

P Cleave - Director

1.	STATUTORY INFORMATION

Lower Cholwell Farm Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number, business address 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 represents amounts receivable in respect of farming sales, subsidies and grass keep net of value added tax. Sales of goods and recognised at point of delivery; subsidies are recognised according to the time period they accrue; and all rental income is recognised based on period of occupation.

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

-

(see below*)

Plant and machinery

-

10% on reducing balance

(*) with the exception of the slurry store, freehold buildings are not depreciated as the directors believe the realisable value to be well in excess of the historical cost. The slurry store is depreciated at 2% on cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions

Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

machinery

Totals

£

£

£

Cost

At 1 October 2024

and 30 September 2025

251,287

109,398

360,685

Depreciation

At 1 October 2024

12,003

84,206

96,209

Charge for year

404

2,520

2,924

At 30 September 2025

12,407

86,726

99,133

Net book value

At 30 September 2025

238,880

22,672

261,552

At 30 September 2024

239,284

25,192

264,476

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

5,995

6,152

Other debtors

54,340

43,058

60,335

49,210

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

2,575

3,958

Other creditors

1,647

1,937

4,222

5,895

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,000

Ordinary

£1

1,000

1,000

8.	RELATED PARTY TRANSACTIONS

At the balance sheet date, the directors and related parties were owed/(owe) the following:

Name

£

A Cleave (Son of P Cleave)

(2,853

)

M Cleave

147

P Cleave

(16,043

)

D Cleave

(6

)

Mrs P Cleave

(6

)

H Cleave (Daughter of P Cleave)

(14,165

)

The maximum overdrawn amounts and movement on these accounts was as follows:-

£

£

£

Debits

Credits

Max o/d amount

A Cleave

2,853

-

2,853

P Cleave

7,500

-

16,043

D Cleave

-

-

6

Mrs P Cleave

-

-

6

H Cleave (Daughter of P Cleave)

-

-

14,165

No interest is charged on any overdrawn balances and amounts are payable and repayable on demand.

9.	ULTIMATE CONTROLLING PARTY

The company was under the control of its directors throughout the period.