Tenant Farmers Association Limited

(Registration number: 01587270)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	357,081	356,471
Current assets
Debtors	5	8,554	14,295
Cash at bank and in hand		132,109	113,202
		140,663	127,497
Creditors: Amounts falling due within one year	6	(29,318)	(30,938)
Net current assets		111,345	96,559
Total assets less current liabilities		468,426	453,030
Creditors: Amounts falling due after more than one year	6	(151,737)	(160,829)
Net assets		316,689	292,201
Reserves
Retained earnings		316,689	292,201
Surplus		316,689	292,201

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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 March 2026 and signed on its behalf by:
 

Mrs H Radmore Director

Tenant Farmers Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a company limited by guarantee, incorporated in England & Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.

The address of its registered office is:
Unit 5 Brewery Court
Theale
Reading
Berkshire
RG7 5AJ

These financial statements were authorised for issue by the Board on 11 March 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

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 sales/value added tax, returns, rebates and discounts.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Tenant Farmers Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	25% Reducing balance
Fixtures and fittings	33% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2024 - 8).

Tenant Farmers Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

4	Tangible assets

	Land and buildings £	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
At 1 January 2025	355,189	11,346	16,930	383,465
At 31 December 2025	355,189	11,346	16,930	383,465
Depreciation
At 1 January 2025	-	10,648	15,736	26,384
At 31 December 2025	-	10,648	15,736	26,384
Carrying amount
At 31 December 2025	355,189	698	1,194	357,081
At 31 December 2024	355,189	(31)	1,313	356,471

Included within the net book value of land and buildings above is £355,189 (2024 - £355,189) in respect of freehold land and buildings.
 

5

Debtors

Current	2025 £	2024 £
Prepayments	8,160	8,966
Other debtors	394	5,329
	8,554	14,295

Tenant Farmers Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	7	8,443	7,792
Trade creditors		3,893	6,964
Taxation and social security		9,891	9,108
Accruals and deferred income		7,091	7,074
		29,318	30,938

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	7	149,240	158,359
Other financial liabilities		2,497	2,470
		151,737	160,829

7	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	149,240	158,359

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	8,443	7,792

Tenant Farmers Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

Company limited by guarantee

Every member of the Association undertakes to contribute to the assets of the Association in the event of it being wound up, while he is a member or within one year after he ceases to be a member, for the payment of debts and liabilities of the Association contracted before he ceases to be a member, and of the costs, charges and expenses of winding up and for the adjustment of rights of the contributors among themselves such amount as may be required, not exceeding £1. If upon winding up or dissolution of the Association there remains after the satisfaction of all its debts and liabilities any property whatsoever the same shall not be paid or to be distributed among the members of the Association, but shall be given to or transferred to the Royal Agricultural Benevolent Institution (or any body successor to).

Ultimate controlling party

The company is controlled by the executive committee