Holditch Court (Farms) Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 8

Holditch Court (Farms) Limited

(Registration number: 05187593)
Statement of Financial Position as at 31 October 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	647,312	679,779
Current assets
Stocks	5	146,300	-
Debtors	6	107,028	87,661
Cash at bank and in hand		7,793	-
		261,121	87,661
Creditors: Amounts falling due within one year	7	(232,049)	(142,767)
Net current assets/(liabilities)		29,072	(55,106)
Total assets less current liabilities		676,384	624,673
Creditors: Amounts falling due after more than one year	7	(57,969)	(26,321)
Provisions for liabilities		(134,451)	(145,359)
Net assets		483,964	452,993
Capital and reserves
Called up share capital		1,000	1,000
Profit and loss account		482,964	451,993
Shareholders' funds		483,964	452,993

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

Director's 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 director acknowledges 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 director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 27 July 2026
 

Daniel Patrick Tolley Director

Holditch Court (Farms) Limited

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

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Holditch Court Farm
Holditch
Chard
Somerset
TA20 4NN

Principal activity

The principal activity of the company is that of agricultural contracting.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Holditch Court (Farms) Limited

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

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

Holditch Court (Farms) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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
Freehold property	2% straight line
Plant and machinery	25% reducing balance
Fixtures, fittings and equipment	25% reducing balance
Motor vehicles	25% reducing balance
Office equipment	5% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

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 inventories 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.

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 statement of comprehensive income 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.

Holditch Court (Farms) Limited

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

2	Accounting policies (continued)

Leases

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 statement of financial position as a finance lease obligation.

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

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

Holditch Court (Farms) Limited

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

4	Tangible assets

	Land and buildings £	Fixtures and fittings £	Plant and machinery £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 November 2024	273,446	24,131	1,260,864	24,856	30,235	1,613,532
Additions	44,727	11,746	135,081	1,334	30,400	223,288
Disposals	-	-	(321,135)	-	-	(321,135)
At 31 October 2025	318,173	35,877	1,074,810	26,190	60,635	1,515,685
Depreciation
At 1 November 2024	14,040	17,121	867,694	11,500	23,398	933,753
Charge for the year	6,083	4,689	97,771	735	9,310	118,588
Eliminated on disposal	-	-	(183,968)	-	-	(183,968)
At 31 October 2025	20,123	21,810	781,497	12,235	32,708	868,373
Carrying amount
At 31 October 2025	298,050	14,067	293,313	13,955	27,927	647,312
At 31 October 2024	259,406	7,010	393,170	13,356	6,837	679,779

Included within the net book value of land and buildings above is £298,050 (2024 - £259,406) in respect of freehold land and buildings.
 

5

Stocks

	2025 £	2024 £
Finished goods and goods for resale	146,300	-

6

Debtors

	2025 £	2024 £
Trade debtors	62,075	57,406
Other debtors	42,997	29,974
Prepayments	1,956	281
	107,028	87,661

Holditch Court (Farms) Limited

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

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	68,522	85,660
Trade creditors		121,108	31,649
Taxation and social security		39,654	22,833
Accruals and deferred income		2,765	2,625
		232,049	142,767

Stated above include secured creditors relating to hire purchase agreements and similar financing arrangements. Balances totalling £61,631 (2024: £41,471) are secured over the asset to which the finance relates. Bank loans of £6,891 (2024: £10,336) stated above relate to a Covid-19 bounce back loan.

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	57,969	26,321

Stated above include secured creditors relating to hire purchase agreements and similar financing arrangements. Balances totalling £57,969 (2024: £19,114) are secured over the asset to which the finance relates.

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Holditch Court (Farms) Limited

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

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	6,890
Finance lease liabilities	9,722	976
Other borrowings	48,247	18,455
	57,969	26,321

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	6,891	10,336
Bank overdrafts	-	33,853
Finance lease liabilities	31,006	28,971
Other borrowings	30,625	12,500
	68,522	85,660

10	Related party transactions

Transactions with the director

2025	At 1 November 2024 £	Advances to director £	Repayments by director £	At 31 October 2025 £
Daniel Patrick Tolley
	29,974	36,905	(30,000)	36,879

2024	At 1 November 2023 £	Advances to director £	Repayments by director £	At 31 October 2024 £
Daniel Patrick Tolley
	22,917	30,057	(23,000)	29,974