Oakdale Farms Limited


Directors	Dr Leon Roger Furlong
	Sally Elvina Furlong


Company Secretary	Sally Elvina Furlong


Registered Address	Cherry Tree Farm
	Bagby
	Thirsk
	YO7 2PH


Registered Number	04764454 (England and Wales)

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Plant and machinery	10
	Fixtures and fittings	10
	Vehicles	25

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

	Investment property
	Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

	Trade and other 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.

Trade and other 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.

	Trade and other 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.

	Financial instruments
	Investments in subsidiaries are measured at cost less accumulated impairment. Investment in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. Investment in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Financial instruments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investment in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investment in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 January 25	1,085,410	44,224	341,153	2,623	1,473,410
Disposals	(192,119)	-	(2,380)	-	(194,499)
At 31 December 25	893,291	44,224	338,773	2,623	1,278,911
Depreciation and impairment
At 01 January 25	855,533	37,995	257,556	2,340	1,153,424
Charge for year	19,234	2,056	8,309	283	29,882
On disposals	(154,581)	-	(1,879)	-	(156,460)
At 31 December 25	720,186	40,051	263,986	2,623	1,026,846
Net book value
At 31 December 25	173,105	4,173	74,787	-	252,065
At 31 December 24	229,877	6,229	83,597	283	319,986

4.	Investment property
	The 2016 valuations were made by George F White & Co, on an open market value for existing use basis. As well as the Investment property amounts above, there is also £100 (2024: £100) Investment in subsidiary companies.


		£
	Fair value at 01 January 25	4,744,473
	Disposals	(1,344,131)
	At 31 December 25	3,400,342

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	-	180
Other debtors	5,268,615	5,338,248
Prepayments and accrued income	5,801	9,065
Total	5,274,416	5,347,493

6.	Current asset investments

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	19,210	12,727
Bank borrowings and overdrafts	128,698	151,405
Taxation and social security	262,792	183,551
Accrued liabilities and deferred income	57,824	52,243
Total	468,524	399,926

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	1,835,372	2,654,359
Total	1,835,372	2,654,359


	Bank borrowings are secured by fixed and floating charges over the company's assets. Included in the bank loans falling due after more than one year are amounts payable after more than five years of £1,320,622 (2024: £2,044,309).

9.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	414,448	648,735
Total	414,448	648,735

10.	Directors advances, credits and guarantees
	At the beginning of the year £245,859 (2024: £236,637) was owed by the director to the company. During the year advancements of £10,079 (2024: £9,222) were made. At the balance sheet date the amount owed by the director to the company amount to £255,938 (2024: £245,859). This amount includes interest charged at the HMRC recommended rate. The amount is included in other debtors.

11.	Events after reporting date
	On 27 March 2026, the company purchased and cancelled 510 ordinary A shares from a shareholder for consideration of £510,000. This transaction took place after the reporting date and has not been reflected in these financial statements.

12.	Related party transactions
	The Company has taken advantage of the exemption contained in Section 33 of FRS 102 "Related Party Disclosures" from disclosing transactions with related parties which are on an arms length basis.

13.	Exceptional items
	During the year £116,515 (2024 - £77,715) of income of exceptional size or incidence was recorded and related to monies contributed from Lloyds Bank to pay down the existing Lloyds Bank loan. This was included in other income.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		252,065		319,986
Investment property	4		3,400,342		4,744,473
			3,652,407		5,064,459
Current assets
Debtors	5	5,274,416		5,347,493
Current asset investments	6	100		100
Cash at bank and on hand		590,286		-
		5,864,802		5,347,593
Creditors amounts falling due within one year	7	(468,524)		(399,926)
Net current assets (liabilities)			5,396,278		4,947,667
Total assets less current liabilities			9,048,685		10,012,126
Creditors amounts falling due after one year	8		(1,835,372)		(2,654,359)
Provisions for liabilities	9		(414,448)		(648,735)
Net assets			6,798,865		6,709,032
Capital and reserves
Called up share capital			3,000		3,000
Revaluation reserve			1,098,331		1,753,061
Profit and loss account			5,697,534		4,952,971
Shareholders' funds			6,798,865		6,709,032