REGISTERED NUMBER: 07518578 (England and Wales)

M & I HLADUN & SON LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

M A Hladun

Mrs P J Hladun

L J Hladun

REGISTERED OFFICE:

5 Resolution Close

Endeavour Park

Boston

Lincolnshire

PE21 7TT

REGISTERED NUMBER:

07518578 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

5 Resolution Close

Endeavour Park

Boston

Lincolnshire

PE21 7TT

FIXED ASSETS

Tangible assets

4

3,168,156

2,646,548

CURRENT ASSETS

Valuation

550,492

462,000

Debtors

5

228,813

223,978

Cash at bank

87,218

18,629

866,523

704,607

CREDITORS

Amounts falling due within one year

6

773,523

865,269

NET CURRENT ASSETS/(LIABILITIES)

93,000

(160,662

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,261,156

2,485,886

CREDITORS

Amounts falling due after more than one year

7

(975,444

)

(632,758

)

PROVISIONS FOR LIABILITIES

(313,217

)

(215,441

)

NET ASSETS

1,972,495

1,637,687

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

1,972,395

1,637,587

SHAREHOLDERS' FUNDS

1,972,495

1,637,687

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 the Board of Directors and authorised for issue on 10 July 2026 and were signed on its behalf by:

M A Hladun - Director

1.	STATUTORY INFORMATION

M & I Hladun & Son Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The company's place of business is Four Crossroads Farm, Frampton Fen, Lincolnshire PE20 1SJ.

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced sales of farm goods excluding value added tax and is recognised on the raising of a sales invoice.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

4% on cost, 2% on cost and no depreciation charged

Plant and machinery etc

-

25% on reducing balance, 15% on reducing balance, 10% on cost and 5% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Valuation

The valuation has been prepared by a director and has been valued at the lower of cost and estimated selling price less costs to sell.

Financial instruments

The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the statement of comprehensive income over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the statement of comprehensive income on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Grants

The environmental subsidies, delinked payments and sustainable farming incentives are recognised in the financial statements in accordance with H M Revenue & Customs guidance.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2025 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2025

1,790,704

1,461,823

3,252,527

Additions

491,042

174,701

665,743

Disposals

-

(27,941

)

(27,941

)

At 31 March 2026

2,281,746

1,608,583

3,890,329

DEPRECIATION

At 1 April 2025

-

605,979

605,979

Charge for year

8,777

129,173

137,950

Eliminated on disposal

-

(21,756

)

(21,756

)

At 31 March 2026

8,777

713,396

722,173

NET BOOK VALUE

At 31 March 2026

2,272,969

895,187

3,168,156

At 31 March 2025

1,790,704

855,844

2,646,548

Included in cost of land and buildings is freehold land of £ 1,364,718 (2025 - £ 1,364,718 ) which is not depreciated.

The net book value of tangible fixed assets includes £ 300,954 (2025 - £ 408,572 ) in respect of assets held under hire purchase contracts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

160,675

81,246

Other debtors

68,138

142,732

228,813

223,978

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

21,728

24,000

Hire purchase contracts

49,083

46,640

Trade creditors

176,050

188,725

Taxation and social security

23,108

45,870

Other creditors

503,554

560,034

773,523

865,269

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

904,667

512,898

Hire purchase contracts

70,777

119,860

975,444

632,758

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

819,625

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Bank loans

926,395

536,898

Hire purchase contracts

119,860

166,500

1,046,255

703,398

The bank loans are secured on land owned by the company. The directors, M A Hladun and P J Hladun have provided a personal guarantee on the loan.

Hire purchase liabilities are secured on the asset to which the liability relates.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

100

Ordinary

£1

100

100