Company No: 06585455 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	1,292,604		1,377,274
Investment property	4	955,000		955,000
		2,247,604		2,332,274
Current assets
Stocks		468,059		509,273
Debtors	5	48,072		42,809
Cash at bank and in hand		633,944		571,851
		1,150,075		1,123,933
Creditors: amounts falling due within one year	6	( 1,057,180)		( 1,090,645)
Net current assets		92,895		33,288
Total assets less current liabilities		2,340,499		2,365,562
Creditors: amounts falling due after more than one year	7	( 34,800)		( 94,700)
Provision for liabilities	8	( 231,999)		( 252,775)
Net assets		2,073,700		2,018,087
Capital and reserves
Called-up share capital	9	100		100
Revaluation reserve		250,000		250,000
Capital redemption reserve		770,000		770,000
Profit and loss account		1,053,600		997,987
Total shareholders' funds		2,073,700		2,018,087

Included in profit and loss reserves are non-distributable reserves of £166,955 (2024 - £166,955)

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Puckshipton Farms Limited (registered number: 06585455) were approved and authorised for issue by the Board of Directors on 17 June 2026. They were signed on its behalf by:

Mrs S J Collison Director		Mr R H Noble Director
Mr M H Noble Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Puckshipton Farms Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Marden House Farm, Marden, Devizes, SN10 3RQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	12.5 % reducing balance
Plant and machinery	15 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as property, plant and equipment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	5		5

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 January 2025	802,038		1,238,704		24,614		66,974		2,132,330
Additions	0		8,658		0		0		8,658
Disposals	0		( 2,928)		0		0		( 2,928)
At 31 December 2025	802,038		1,244,434		24,614		66,974		2,138,060
Accumulated depreciation
At 01 January 2025	53,773		651,775		23,593		25,915		755,056
Charge for the financial year	1,059		89,281		256		2,678		93,274
Disposals	0		( 2,874)		0		0		( 2,874)
At 31 December 2025	54,832		738,182		23,849		28,593		845,456
Net book value
At 31 December 2025	747,206		506,252		765		38,381		1,292,604
At 31 December 2024	748,265		586,929		1,021		41,059		1,377,274

Included within the net book value of land and buildings above is £747,206 (2024 - £748,265) in respect of freehold land and buildings.

4. Investment property

	Investment property
	£
Valuation
As at 01 January 2025	955,000
As at 31 December 2025	955,000

Investment property comprises of residential dwellings. The fair value of the investment property has been arrived at on the basis of a valuation carried out on 31 December 2025 by the directors of the company. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.

5. Debtors

	2025		2024
	£		£
Trade debtors	39,504		35,763
Prepayments	6,278		5,971
VAT recoverable	2,290		1,075
	48,072		42,809

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	95,433		90,587
Amounts owed to directors	779,186		862,325
Accruals	6,220		5,920
Taxation and social security	51,106		27,862
Obligations under finance leases and hire purchase contracts	59,780		59,780
Other creditors	65,455		44,171
	1,057,180		1,090,645

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £94,580 (2024- £154,480)

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Obligations under finance leases and hire purchase contracts	34,800		94,700

8. Provision for liabilities

	2025		2024
	£		£
Deferred tax	231,999		252,775

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
30 Ordinary class A shares of £ 1.00 each	30		30
14 Ordinary class B shares of £ 1.00 each	14		14
10 Ordinary class C shares of £ 1.00 each	10		10
41 Ordinary class D shares of £ 1.00 each	41		41
5 Ordinary class E shares of £ 1.00 each	5		5
	100		100